It is a risky business, putting your wages into bitcoins. If I could pay my electric and water bills with bitcoins without any trouble, I might consider, but the bitcoin is too unstable to rely my daily income on, I am at the moment a slave of my mortgage and other bills I need to pay, if it does not add up at the end of the month because btc plumeted I have a problem.
Given the fact most bills need to be paid just right after my salary comes in, it would probably work out without too much los and maybe some profit, but it would not be a bitcoin economy, but a conversion from bitcoin to the current currencies to pay the bills and a correction on my salary each month, if the btc to $ rises, the amount of btc of income would be lower, if it falls, it would be high.
Topic: Would you like to get paid in Bitcoin? - page 4. (Read 4398 times)
Once this starts rolling, it is going to put forth positive growth towards the BTC economy.
Interview with Jonathan Chester the Co-founder, Chief Strategic Officer and Compliance Officer with BitWage.
https://soundcloud.com/reverendjohnny/get-paid-in-bitcoin-with-bitwageco-the-future-of-payroll
https://soundcloud.com/reverendjohnny/get-paid-in-bitcoin-with-bitwageco-the-future-of-payroll
Wow this would be good if one of these could open in every single country at the moment it's limited to 50 states of america.
So apparently 250,000 people have/use bitcoin (not sure if that is accurate) imagine just 10k of these getting full wages in BTC.
10k people getting paid on average $2k every 2 weeks would bring $20 million into the Bitcoin economy every 2 weeks.
I signed up but don't have my phone for authentication but I will definitely try it out and let you know how it goes. I would love to get paid in Bitcoin. With a Xapo card and localbitcoins for cash I can drop my banks very soon.
Getting paid in bitcoin is a huge step in making the economy grow, quite possibly the biggest single thing.
So apparently 250,000 people have/use bitcoin (not sure if that is accurate) imagine just 10k of these getting full wages in BTC.
You can:
https://www.bitwage.co
I have been an advocate of a Bitcoin Credit Union because I thought that this was the only way to get paid in Bitcoin by giving your company a direct deposit number. But it looks like this company has figured out how to do it by going through payroll services (I think).
I signed up but don't have my phone for authentication but I will definitely try it out and let you know how it goes. I would love to get paid in Bitcoin. With a Xapo card and localbitcoins for cash I can drop my banks very soon.
Update:
I was able to get my account set up and log in (I had some complications because I live in Germany working for a US company). Their customer service is great, my problem was sorted out quickly and easily, if you have problems click the little chat window on the bottom right of the screen.
Once I got my profile set up it asks for my company name, company website, my company's payroll company and the payroll company's website. Most of us do not know these things offhand and will need to work with your HR. I will be working on this to see how easy it is from there and let you know how it goes.
Update 2:
I e-mailed my HR and asked what payroll service they use because I needed it for bitwage.co so I can get paid in bitcoins. They responded after what appeared to be a long e-mail chain bouncing around all over the payroll department asking if anyone can help out, finally responding that I need to speak with my specific HR representative. Fortunately, in their lengthy e-mail chain they are talking about the Payroll company they use. So I submitted that to bitwage.co and I am currently in the verification process.
A bit of advice when asking your HR department about your payroll company: don't tell them it's for bitcoin or bitwage. Just ask for the name of the payroll company. You can use google to find the website from the name. You can tell them why after they give you the name but mentioning bitcoin is like going to the train station and saying you're going on vacation to Hawaii and what is the best route to get there.
Update 3:
My Verification level 1 was completed. I was able to do my Verification level 2 by submitting a photo of my ID and proof of address. Once that was verified I was able to get to the part where I enter my Bitcoin Address. With my Bitcoin address entered they provide me with a bank account and routing number to give to my payroll for direct deposit. My direct deposit website at my company allows me to create a fixed dollar amount account and a net account for anything over that amount. I stuck a test amount of $500 in my fixed dollar amount to go to the Bitcoin direct deposit. Now I will wait to see if it goes through.
Update 4:
Just got an e-mail saying my payment went through, $500 at $317/BTC -> 1.56992012 sent to my Bitcoin address.
Next, I will convert all of my paycheck to bitcoins. I can covert BTC->USD as needed.
https://www.bitwage.co
I have been an advocate of a Bitcoin Credit Union because I thought that this was the only way to get paid in Bitcoin by giving your company a direct deposit number. But it looks like this company has figured out how to do it by going through payroll services (I think).
I signed up but don't have my phone for authentication but I will definitely try it out and let you know how it goes. I would love to get paid in Bitcoin. With a Xapo card and localbitcoins for cash I can drop my banks very soon.
Update:
I was able to get my account set up and log in (I had some complications because I live in Germany working for a US company). Their customer service is great, my problem was sorted out quickly and easily, if you have problems click the little chat window on the bottom right of the screen.
Once I got my profile set up it asks for my company name, company website, my company's payroll company and the payroll company's website. Most of us do not know these things offhand and will need to work with your HR. I will be working on this to see how easy it is from there and let you know how it goes.
Update 2:
I e-mailed my HR and asked what payroll service they use because I needed it for bitwage.co so I can get paid in bitcoins. They responded after what appeared to be a long e-mail chain bouncing around all over the payroll department asking if anyone can help out, finally responding that I need to speak with my specific HR representative. Fortunately, in their lengthy e-mail chain they are talking about the Payroll company they use. So I submitted that to bitwage.co and I am currently in the verification process.
A bit of advice when asking your HR department about your payroll company: don't tell them it's for bitcoin or bitwage. Just ask for the name of the payroll company. You can use google to find the website from the name. You can tell them why after they give you the name but mentioning bitcoin is like going to the train station and saying you're going on vacation to Hawaii and what is the best route to get there.
Update 3:
My Verification level 1 was completed. I was able to do my Verification level 2 by submitting a photo of my ID and proof of address. Once that was verified I was able to get to the part where I enter my Bitcoin Address. With my Bitcoin address entered they provide me with a bank account and routing number to give to my payroll for direct deposit. My direct deposit website at my company allows me to create a fixed dollar amount account and a net account for anything over that amount. I stuck a test amount of $500 in my fixed dollar amount to go to the Bitcoin direct deposit. Now I will wait to see if it goes through.
Update 4:
Just got an e-mail saying my payment went through, $500 at $317/BTC -> 1.56992012 sent to my Bitcoin address.
Next, I will convert all of my paycheck to bitcoins. I can covert BTC->USD as needed.
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