Bitcoin Forum

Mayor Francis Suarez of the City of Miami has revealed he is envisioning payment of salaries using Bitcoin and other cryptocurrencies in his county.

The crypto enthusiast lawyer is championing the adoption of blockchain and related cryptocurrencies. Besides he also suggested that all taxes and service fees would as well be paid in crypto.

Seems interesting, don't you think? Do you think others will follow in their footsteps?

_{Source
https://mycryptoparadise.com/miami-set-to-start-paying-salaries-in-bitcoin/}

We already know about that, two pages already discuss about miami paying employee salaries.

Topic: Employees can get salary in Bitcoin in Miami (https://bitcointalk.org/index.php?topic=5314625.0)

I think the idea for that discussing the topic is exhausted, except.

Good good good, I'm happy, hopefully etc.

It is great that they are now paying with Bitcoin with their salaries maybe soon they would also start to accept Bitcoin or crypto to be a payment option on their country.
I would like to see how things would go on with it and how they would continue to support and promote Bitcoin/crypto currency.

How I wish that some establishments and companies in the Philippines could start paying us in Bitcoin. Slowly but surely, we are going towards a true massive adoption in Bitcoin and cryptocurrency payments. Of course, virtual assistants and home-based workers whose companies are mostly online, could offer Bitcoin as payment if they want. But I haven’t seen one traditional company yet in the Philippines (with the exception of local payment service providers) who are paying Bitcoin and cryptos to their employees. Hopefully it will happen one day.

Interesting how many people will want to recieve their money in crypto

Are they really paying them with bitcoin or are they given a choice, with a lot of this same story and a lot of topics about it popping up, I am a little confused. I love the idea of this one, considering bitcoin as a means of payment for employee, there is one problem that I can think of, and that is the volatility of the bitcoin market is high which means that a lot of adjustments are going to be made in my opinion, and I am hopeful that they will arrive at a solution for this one because as everyone in the thread says, it is a big deal for cryptocurrency community. Regarding scaling this option, I think that it is far too early to say it yet but if this is going to work, maybe we can see the whole state of Florida doing the same as Miami and hopefully this thing will happen again until the whole USA is doing it.

If the implementation in Miami is successful I think there will be other cities or other countries that will try to adopt this system. this can be one of the best options when bitcoin comes to the world and it's time for the world to take advantage of bitcoin for positive things. and an example is for this salary payment.

I admire the determination of Major Francis Suarez of the City of Miami. How much I would like his interest in Bitcoin to spread in the minds of rulers around the world.
They are the first steps to know the results, I think it is positive. Miami is a smart mega city with an emporium of tourist attractions and after this pandemic it is logical to plan substantial changes that allow an accelerated recovery.

This is a really nice idea and I think more companies like their company should introduce bitcoin payment system.Because any company can easily pay their employees in a short time through bitcoin.

How about the volatility of it? Bitcoin is very volatile, this month's salary could be bigger or smaller in bitcoin value next month. Will the company shoulder all the fees when sending the salary for all their employees?

I think it should be by choice per employee, not all want to accept their money via bitcoin because price can change anytime if it's inside a bitcoin wallet. $500 is still a big difference if price fluctuates. I would prefer receiving it half in bank then half crypto so the salary from crypto can be considered a long-term investment.

AFAIK that is the case for this one, they are giving the employee a choice on how they are going to be payed. That worries me too, the volatility will definitely play a big role in this because as bitcoin as it is back then, it is still as volatile as ever. I am rooting for this to be successful although the volatility obstacle is definitely a hard one to get past.

Its good that their Mayor is thinking of paying his employees thru cryptocurrency but the question is:
Will the employees accept it??

With the current volatility of the crypto market, I doubt that most of them will accept it unless they have another source of income that is enough to feed their family for a month then maybe they will consider that salary as an investment too. Either way, still happy that there are some who are doing things that will help the people engaged into crypto. If this will be a successful one then it will create a domino effect too for sure.

That's a good idea but considering how's the state of many companies after pandemic and how the working situation I doubt any private company gonna do that.
The thing about private company is that most of them can't really afford to complicate things. Except there's any third party that could helps to convert the employee salary to bitcoin with small fee they won't even bothered to do some innovation like this unless they are big corporation that have the human resources to do such thing.

How have they taken care of fluctuations that comes with bitcoin. Now that bitcoin value has appreciated and few satoshi can make big difference in dollar, so what if price of bitcoin reduce which means reduction in dollar and same value of satoshi won't approximate into same value of dollar early. What plan was made for this time to  ???

I also wished the same in my country India but unfortunately the government is planning to ban Bitcoin. Seems like the world is going on an upward direction and my country in the downward direction.

Really interesting news! I wish more countries accept BTC in coming future. Cant wait to see digital currency taking control over the world and benefit people.

This is really great. Hopefully some of the other countries who are economically vulnerable like Venezuela will seriously start considering Bitcoin as a payment option in the near future. I wonder how will this affect the BTC price though  :o

I think this is just optional to the workers if they want to receive salary thru Bitcoin or not. They can certainly sign a contract with someone of which company that the payment for services will be done in Bitcoins but remittances to the government (payroll taxes, income tax and etc) will surely not be done in Bitcoin except if the government of Miami will allow it too.

For a multinational company, this is not a problem for them, before embarking on this salary basis, they know how much they might have been generated and how much Bitcoin purchased and stored for future payments, to me it's likely be an advantage to the employee because they might have purchased bulk of bitcoin before payday, gradual purchase of Bitcoin generates more income even before disbursement.

I never think that this can be applicable to all workers for that company, there can still be people that don't know about cryptocurrency and Bitcoin, but this is a good optional payment method that people that have an idea about Bitcoin but doesn't know how to buy or get bitcoin, So this is a great opportunity for people that wants to know about Bitcoin, I think they need to let people know what is Cryptocurrency or Bitcoin first before setting up something like this so they will surely have a slight knowledge about it.

Yes, some people are still gullible about Bitcoin and others cryptocurrency existence but the payment of salary in Bitcoin which Miami is planning was to add Bitcoin payment to salary payment option in Miami not a must that every salary will be pay in BTC. However, this will help institutional companies that bought BTC early.

I am very happy if my country can have a leader like Major Francis Suarez, open minded and modern. Luckily the city of Miami has Major
Francis Suarez, who is very enthusiastic about Bitcoin and other cryptocurrencies. If other cities in America can follow in the footsteps of
Major Francis Suarez, I believe the price of Bitcoin will go up even further. Hopefully all countries in the world can accept Bitcoin not only
as an asset, but as a payment option as well. This is exactly what Satoshi Nakamoto wanted as the creator of Bitcoin, in this world there
should be other payment methods besides fiat.