Bitcoin Forum

What if some country decides to pay pension to working population in bitcoin ? What percent of people will agree to getting pension in bitcoin in your opinion  ? What will be the benefits and limitations of this occurrence in long term on people and economy ?

I don’t know if this is a good idea if they will implement this to the beneficiaries that belongs to old era which Bitcoin still doesn’t exist because they will surely have a hard time to use it when they want to cash out. Also the safe keeping of their asset is one of the main concerns since we are talking about retired people here.

This is only possible and good idea for those people that is still young when Bitcoin created like GenZ or something young generation since Bitcoin will be just a normal currency when the time come of claiming their pension.

There's nothing will change if they get paid in Bitcoin, it's a currency 1 BTC = 1 BTC.

Don't ask me, I only one from hundred thousand(s) or million(s) of people.

There's nothing difference with get paid in fiat.

There are four thread had been created, yet you still want to add it one more.

1. https://bitcointalk.org/index.php?topic=5473225.0
2. https://bitcointalk.org/index.php?topic=5449807.0
3. https://bitcointalk.org/index.php?topic=2836251.0
4. https://bitcointalk.org/index.php?topic=5453260.0
5. Your thread.

There have been many threads about this too, but I will answer it in my personal opinion, there may be some opposition in the government and from the pensioners' side. Not all retirees understand Bitcoin and are willing to accept it. And of course the government also doesn't want to take risks, considering the volatility of Bitcoin prices which can rise and fall by tens of percent in a day, this is certainly not the right choice for the government. This could cause new problems, especially for retirees who are not familiar with Bitcoin. Of course here Fiat will be the top and safest choice. Even if a retired person wants Bitcoin for investment, it is up to the individual and they can access it freely after receiving pension funds.

The people who have knowledge about Bitcoins will be surely happy with this decision. They know the capabilities of Bitcoins and hence they will agree to take their pension in the form of Bitcoins. But as we know many people aren’t aware of the modern tech and so about Bitcoins, so at first we need to make them understand about the coins. Moreover a country won’t giveaway these valuable coins like this to all the people. Bitcoins are rare in numbers, hence they will try on holding it and buying the coin.

The issue shouldn't be receiving pensions in bitcoin but investing the funds in the sector for a long time. These pension funds can generate huge profits over a long period. Considering receiving bitcoin as pensions will depend solely on the number of people who are aware of the existence of Bitcoin. Many people in my location don't know about bitcoin so the percentage will be very low. However many people who are well informed about bitcoin will prefer to receive their pension in cryptocurrency because of high inflation and the constant decline in the value of our local currency. Our local currency has lost almost 50% of its value in five years, which means that receiving pensions in fiat is a financial waste.

It will have little effect on the national economy but individuals can benefit from this initiative because it could serve as a hedge against inflation and give them some profit over time. The benefit it could have on the economy is that it could attract more funds to the pension sector and a healthy pension sector with create more jobs and increase workers' salaries. Some limitations of this policy will be bitcoin price volatility and the inability of these pensioners to keep their coins safe.

there are regulations around official pension investment plans. its why employers dont just pay out people in wheat, but can invest in the big-agri farming of wheat.

its reasons institutions are not just assigning sats to investors but spending millions on lawyers to communicate with regulators to set up ETF spot offerings

For crypto user then maybe they would be happy for that implementation since they can use the amount they receive for investments or even can hold it up until the value pumps in future.

But would also be negative for other since not everyone can able to deal with fast moving of its price  and maybe they can easily handle their investment very well since they know how to deal with its volatility. If I am the one who will be ask by this then would provably choose to deal with fiat since talking about pension then maybe I'm retired at that time so provably I will not participate on anything that can possibly gibes us a lot of stress since for sure bitcoin price volatility will still the same in future and not everyone can take to deal with its fast price changes of bitcoin.

It's not a good idea and it's not going happen, atleast not right now because no country is going to pay pension to its citizens in Bitcoin when it is not the legal tender. The only country where this could be feasible is El Salvador.

It will be a plus to bitcoin but is going to be welcomed with disapproval from majority of the populace especially in my country. Pensioners are old people, some of them are uneducated and cannot use their debit cards or perform a bank transfer via their phones without assistance. So if bitcoin is brought into the picture in the form of pension, majority of them will end up compromising their wallets and losing their funds.

It will cause mixed reactions on this issue, not everyone understands bitcoin and accepts it. I'm not sure if economic analysts consider Bitcoin a currency or still just an investment, so paying such a pension is only convenient for a few.
Even changing from cash to banks took a lot of time, as did raising people's awareness of its use. And the target audience here is elderly retirees. They will consider it convenient. Of course, it cannot be guaranteed that Bitcoin will have a global effect. Although I strongly support the application of Bitcoin in many areas of life, that is just a personal perspective, and this is a collective story on a much larger scale, so it will not be easy to apply.

It is not a good idea is different from maybe it will be approved. The approval is just as you have said the government will be against it but should it be approved bitcoin enthusiasts will definitely be happy to have it, the advantage it could pave is that since it will be a top up every month it will be Like a monthly DCA and we all know how long pensions are accumulated so it will go up in price in those years but still the volatility risk can not be overcome, so for me it will be a two way something have some in bitcoin and some in another asset if given the opportunity to choose because it will be too risky having everything in bitcoin


Should any country try to even implement this it will be a two way option you either go for bitcoin or the traditional method. Not only will it be a problem for older but also how will it be handled. Pensions are saved by some firms, will a bitcoiner even be at peace to handle his to them, that’s like storing bitcoin on centralized exchanges which every true bitcoiner is against.

At the present moment, whether any of the pensioners will agree to receive a pension in bitcoins. Probably only in Japan some progressive old people will agree. Or in Europe, some guys retiring early like policemen or rescuers. Now the world is not ready for such steps, or rather even society is not ready. But every year digitalization is growing and soon such an idea will become possible. But people are still too distrustful of bitcoin.

You need to know the conditions of how the pension will be paid, will it be paid fixedly in satoshis, will pensioners receive a fixed value in satoshis every month, or will it depend on the exchange rate of the country’s national currency to bitcoin and will it be different every month?

I think I’ve already read a similar discussion somewhere, and it seems to me that at the moment there is no point in this, since in any case negative scenarios will be possible in which pensioners could be at a loss, and since this is an unprotected segment of the population, It is important to understand exactly what they can expect every month, because for many this will be the only source of income.

If this rule is a necessity, then 100% will accept it. If it's only optional, then it depends on:

• How many workers are bitcoiners or pro bitcoin.
• How good is the narrative and description of bitcoin given to workers (for those who have never been involved).

But the thing is I don't think this scenario will happen, as long as bitcoin doesn't become a currency and volatility stays high this will never happen. We need the fact that bitcoin is only used as an investment, more like a store asset like gold than a currency. And have you seen anyone using gold to pay workers? Furthermore, as long as people still only view bitcoin as an investment, paying salaries in bitcoin will be useless because people will also convert it to fiat currency immediately.

Pension is something that is saved up from the entity contribution and employee contribution over the course of their job and until retirement. I highly doubt bitcoin would be chosen as an asset to payback pension since it has high volatility rate. It may happen X cut may not be the same by the end of retirement for an employee. They may receive less or more depending on where bitcoin stands in terms of its value by that period. These are the limitations that I could think about right now. I think not many peeps would choose it due to security reasons of their funds also. As compared to fiat Bitcoin will have safety issues also as the employer would need to Store the part of bitcoin in the wallets. Employees cant risk it.

I can only talk for myself as someone who is a bitcoin investor but not for others because I don't know their level of bitcoin knowledge. It will be one of the best decision that the government will come up with, because it will help me increase my bitcoin portfolio and I don't need to worry myself on buying bitcoin anymore.

For those that don't know bitcoin, the government needs to carry out seminars to teach the workers on bitcoin and its pros and cons so the people can decide for themselves maybe to accept their pension in bitcoin or not. I doubt if such thing will happen soon, maybe it can happen in El Salvador where bitcoin is already legalized as a legal tender.

If the pension money is paid through Bitcoin then it will not be good for the pensioner and the government at all. Because most pensioners won't know about Bitcoin. And the ups and downs of bitcoin would make paying and taking pensions in bitcoins much more risky. If we think a little deeper then we can see there is no benefit to the government either because there is no government benefit in bitcoin payments. Paying the pension money to the pensioners through the bank will give a lot of profit to the government fund due to which the government always pays the pension money through the bank. Especially the pensioners keep their pension money in the bank all the time due to which the bank also gets a lot of profit. But if a payment is made through Bitcoin, a customer may or may not benefit.

It has already happened, just not quite in the direct way you might think.

A state, private or corporate pension plan invests these pension funds into low-risk ventures, that's how they make profit and grow these funds. Norway's sovereign wealth fund already held Bitcoin, and has indirect investors from pension funds. Its own state pension fund invests in Bitcoin indirectly (via shares in MicroStrategy).

So when they pay out pensions, they're indirectly paying Bitcoin returns.

As an opposite case study of your question, if a state does directly, and unilaterally pay out pensions in BTC, people would rage. It already happened in El Salvador that retirees protested, worrying about, among others, possible Bitcoin pensions.

Well I think this is a science fiction.
If they even decide to do it, they'll just over leverage supply of bitcoin because they will NOT buy spot btc.
What goverments and banks are doing, they add some kind of something like ETF, virtual and they claim it's usd, or shares or crypto but it's empty binary code without backing.
So, in any utopian scenario where a country would buy 1000 btc and pay some pensions, that would be nice but it's not realistic.

Benefits?
Well, bank or goverment cannot freeze your funds
The main benefit is freedom with potential of wealth increase if price goes up.

Man, this is what happens when your signature campaigns have a strict ruling. People just reply to the same topic from different OP and end up spewing out the same thought because there's not much that changes from it, with this much people talking about retirement that's entirely paid with bitcoin, I'm a little bit happy that people are considering bitcoin for their retirement. I have to side with you about being paid in fiat in my pension because it's much more stable than bitcoin so it's the safest option but I guess having bitcoin put into your retirement savings seems kind of a nice addition maybe not as a total takeover.

Lot of people are having a pension plan because they can get money every month from pension when their retirement has come. So if the country will implement Bitcoin as another currency of receiving pension instead of fiat, it will attract and confuse people. It will lead them to determine what Bitcoin really is. It contributes a lot to Bitcoin adoption in our Country, and if they realize how great is having a Bitcoin they will start to invest. If ever they invested in a wrong time and the price went below on their buying price, we can't stop them to say negative about Bitcoin because no matter how they benefit from Bitcoin there is always a chance that they can say negative if they experienced loses, there's nothing to worry for the long term.

Unless it is El Salvador it is an option, otherwise I do not believe that other countries give so much value to an asset that will be the one that can guarantee true financial freedom , governments will pay retirees and pensioners in fiat because they Know that it is their local money and that they do not care if it suffers inflation, they will not give bitcoin because bitcoin is more valuable than gold, they will not give such beautiful options to the population, the more they maintain that their people will not pay with valuable things the better Even though they were people who already contributed to their Countries , that doesn't matter to them at all, that's how it Works , that's what I've seen.

The most important thing that the government must do before making pension payments with Bitcoin is education about cryptocurrencies, that is a very important thing, especially now that there are still quite a lot of frauds using cryptocurrencies. When the education about crypto is completed, I am sure there will be many people who are willing to receive salaries in Bitcoin and also receive pension payments in Bitcoin. Another important thing is that when more and more countries accept Bitcoin, the price of Bitcoin will definitely be higher, that's natural because the demand is quite large.

Well, I guess, just as others have said, if you read the other thread in which these same topics have been discussed, you will see different opinions that many people have also expressed. Maybe you can actually see the opinion you seek in any of those threads. I think that it will be difficult for the world to endorse Bitcoin as a legal tender to the extent that pensions will be paid in BTC. If by chance it happens like that, then the world population will have to accept being paid in BTC because it will be by law, and since Bitcoin is a volatile asset, those that can't keep up with it will definitely and immediately convert to fiat once they receive the payment.

Necessity or better say mandatory. If so, people have no choice even if they are against with it. BTC is still a money, and to have a BTC is better than not having anything at all. I guess there were still guides that teaches them how to convert their BTC into fiat other than the guides we have online, if ever they want to convert it immediately.

If it's optional, I think only few will choose it because I believe most pensioners are old people and we know old people right? They are into old school. I just want to clear out that I don't under-estimate them but I only say that because this is what I think about. I know there are still old people who are capable of many things including being interested in Bitcoin.

This won't happen and there's no point of discussing it. I won't ever analyze the ridiculous idea of getting your pension in the form of a very volatile asset. And yes, the BTC transaction fees would probably go through the roof.
All those "what if" questions are stupid. What if the central banks start buying BTC and putting it in their currency reserves?
Yeah, that would be great, but it will never happen.
What do you mean by "paying pension to working population"? The working population doesn't get pensions. The retired population gets pensions. ;D

I don't think a lot of people who will receive pensions will be happy about this. Yes, they can receive the same amount, but in bitcoin? Because bitcoin is a complex thing and people who receive pensions are old, I don't think they can manage it by themselves because it will take extra work for them to convert it into their desired currency. Second, the government still hasty with bitcoin, so it's impossible to implement it, but your question is "what if?" If it happens, then that would be great because it means that the government will accept bitcoin eventually, and it will also be much better if the receiver is also happy with that new form of receiving their pension.

limitaios? I guess the transaction fees. As we know, transferring or converting bitcoin into USD or any other form of currency requires fees, and I think it will be an issue for many.

Perhaps it depends on a country and is also a matter of time, but that wouldn't work in my country. First of all, Bitcoin can't be used directly to pay for goods and services, not in most places. Meanwhile, cash or card payments are fairly simple and direct. But let's assume that Bitcoin becomes widely accepted before the pensions are getting paid in Bitcoin. There's still a huge problem that pensioners are of solid age, many of them don't use the Internet, smartphones, or any technologies beyond a TV, radio, and a very simple phone. So they would be annoyed and in opposition to dealing with a volatile digital currency, as it goes way beyond the digital literacy of most pensioners in my country.
What can be done instead, however, is pension fund investing into Bitcoin long-term to ensure higher pensions, but in my country, the pension fund isn't based on investments at all, not yet.

In developed countries there are people who are well versed into crypto jargon, we have several old members here on this forum as well. In developing countries meanwhile I do not think this is possible as most are not familiar with mobile/internet in first place, using Bitcoin comes later.

So latter is excluded completely, while former, those countries are still deliberating on proper regulations despite population into it, so until regulations are place, it's no too. Without proper regulation, they won't do something like paying pension with BTC anyway.
 
Personally tho, crypto requires good security practices, there are few places where Bitcoin accepted, to sell Bitcoin for fiat, taking care of transaction fees at the times like right now — honestly it feels so unnecessary right now.

Before thinking about that, you need to think about how many countries have accepted bitcoin as their currency? Because to be able to use bitcoin to pay pensions to workers, at least bitcoin is a currency. I bet no one would accept pensions in the form of bitcoin if bitcoin were not a currency and remained a volatile asset. I remember that questions similar to yours have been asked many times before and most people answered that they do not like to receive salary in bitcoin because of its volatility. Currently, we are happy with receiving our salaries in fiat currency and we can invest in bitcoin as much as we want, why change that?

I actually have a thread in line with this same topic which I titled "How would you want your pension paid in bitcoin?" I will probably share the link to the thread later.

But then, since we are already here, let me just say that for me alone, as in personally, I would like the pension deducted from my salary to be paid in bitcoin, this is based on my personal experience with pension.

First of all, we all must understand that, pension is not funds that are immediately accessible to the individual, like here in Nigeria, before you can access your pension funds, you have to be 50 years of age and above, and even when one attain this age, they don't give you back your money immediately, you will have to go through a lot of document signing and stress, before you are granted the opportunity if you are lucky.

And I understand that, the reason for the fiat is because the government use this money for business, they loan the money out for interest, I don't know how they can do this if the company I work with was to pay me bitcoin as pension and this bitcoin is in their custody, but for my best interest, what I do know is that, even if they do not add any interest to my holding, bitcoin itself in the long term will surely become more expensive, which also mean that the value of bitcoin in my pension account will increase as well.

This is why I would surely prefer that I be paid my pension in bitcoin, rather than fiat that loses value and purchasing power every day.

If a country does that, more than 50% of the working population will not agree to that. Do you realise that does that understand and wants to learn about bitcoin are mostly people that are not involved with the government work. Most people that like the bitcoin idea are mostly working from home, and don’t need any pension. So the vast majority of the government workers are not enlightened or conversant with the bitcoin technology which will make it hard for them to understand and use when their funds is being paid there.

If the government wants to employ this method of payment for pensioners, it will have to be for those that are more used to using computers in their place of work and can always use one at anytime (those employed in the computer age), the government will then set up committees to teach and guide them on how to use bitcoin technology better to be able to access their money after they retire. It is a good idea but its feasibility is what is the problem now.

As much as I believe that that's the reason why the government isn't going to accept bitcoin as a means to pay pension for their people, I think your statement about subscribing or sticking to their local currency for payment is the main reason why they are doing that, I wouldn't really say that bitcoin's the key to true financial freedom for now, given that there's still no semblance of an actual global adoption then I guess we have to hold on to that dream that we might achieve that someday. To me, this kind of dilemma is easily solved if you just do the saving for pension yourself, with that kind of system then you will be able to achieve your dream of having your pension paid in bitcoin when you retire someday.

I don't think this suggestion will be received by pensioners with welcome arms though there can be a small percentage that might choose to receive their pensions in BTC. And since only a very small of the whole pensioners might take it, therefore it can just be a waste of time for the pension administrators to do it. We have to remember that pensioners are already "old" people so they may not have the time and the patience of learning the very basics of cryptocurrency so might as well endanger them and their money. Now, the viable option is offering Bitcoin for those who are in the working age and educate them on Bitcoin...and on this regard I think there are already a few companies doing this option right now though I never have a verified data on this.

If the idea is that pensions are going to be paid in Bitcoin, I think most people will refuse to take their pensions in Bitcoin. Now the pensioners will be 60 plus, and most 60 plus senior citizens probably don't know much about Bitcoin. But if the current generation has a Bitcoin-centric plan in the future, it might succeed. And as far as I know most governments are against Bitcoin so it is very challenging to pay pensions through Bitcoin rather than against Bitcoin. We may imagine that pensions can be paid with bitcoins, but this is very difficult to happen in reality. When the government of a country takes such a decision, the entire system of transactions has to be changed by the government of a country, so I don't think any country's government can do this very easily.

I don't agree with pension funds being paid in bitcoin. For now I don't agree, but in a few years maybe I will. If someone has retired from work, it means that person is quite old and most older people are not very familiar with technology, let alone Bitcoin. It will make it difficult for them to spend bitcoins, or maybe they don't know about bitcoins at all, this will only add new problems if implemented now.

This not only brings no benefits but also causes controversy and fierce opposition from retirees. Firstly, not everyone knows about bitcoin, especially older people. Second: Bitcoin's volatility is also a barrier that makes some people not like to use it, so the government will face many difficulties if it applies this. But I don't think this scenario is possible because we all know that the government has never been friendly to bitcoin. They will never use it as a currency to pay people's pensions.

Although, I'm a firm supporter of Bitcoin and idea behind it but I don't think it will be a good thing for citizens if a country decides to pay their working population their pension in the form of Bitcoin. The reason for that is the majority of people who are retired or who are getting close to retirement don't know about technical aspects of things and such people can easily be scammed and they may lose their Bitcoin.

Surely, such payments will be good for future generations as people are getting technically good these days due to digital revolution and availability of smartphones but still for current generation of retired workers it isn't going to be helpful. If someone who is good at the technical aspects of the things can have their pension in the form of Bitcoin but still you know the price of Bitcoin fluctuates a lot sometimes and that can be a problem for those retired workers.

Well, maybe some small state in some years, through liquid or lightning, but the states that are aware of the existence of hard money will not use it to pay pensions... That will most likely be paid in deflationary currencies, FIAT

There will be complete rejection. A country pensioner won't accept it because they have less knowledge of bitcoin. They are used to fiat mode of payment through their bank account. Imploring another means of payment for them like bitcoin will be what they will highly kick against by the citizens of that country before the pensioners would say anything relating to that.

I think before a country thinks of such, they should conduct a survey first to find a possibility of what they want to implement would be accepted or rejected. They can't bring Bitcoin to pensioners who lack the knowledge and exposure to bitcoin.

If a survey is to be conducted in a country that accepts Bitcoin as a means of payment, for instance, you will find out that the youths are the ones who engage and have knowledge of Bitcoin more than old people(pensioners).

The range Bitcoin is spreaded in those countries is first considered and that determines about the values If it would bring about benefits or limitations to its economy.
I believe benefiting from Bitcoin is not just having one in your wallet but how you first realizes the potentials and how the roles of its beneficials is played if one must utilize its valuables.
Hence if there is a wide range of Bitcoinaires in the country then means there is a massive Bitcoin educated persons who would embrace the system to accepting bitcoins for payments/pensions but if there is a low range of individuals that detailed about Bitcoin means there would be poor number of persons to accept the system because Bitcoin is imposed with a mathematical terms when holding in the wallet due to its volatility.

It would be great for those who have known and understand bitcoin well because they can use it as a currency and as an investment tool while keeping the high security of their coins. But I don't think this will be easy for those who don't have even idea about bitcoin that its existing and that it can be use as a currency like fiat, and for sure assuring the security of their coins might be very hard for them and they might only put their coins into danger.

Since we are talking about retired people here, then I must say that majority of them are not excellent enough when it comes to being knowledgeable about bitcoin. Although it can be learned but I think teaching these pensioners requires a lot of time and patience before they can get the real idea of bitcoin and how they can use it on their own advantage.

Let's just take the example of El Salvador, it may not be a pension but it has made bitcoin as a legal tender so that's almost the same IMO.

We've seen the reaction of people there, some are violent, many did liked it and started to adopt because they have no option as that's what the government says so.

Basically, that's going to make their economy volatile just as how Bitcoin is volatile. Maybe we shall see the effect of it in the future and not as close as it may project.

This sounds impossible, mate.
Pensions are for old staff that have saved for a long time, and their age ranges around 50–60 years. How do you expect them to adapt to this bitcoin technology quickly?

Beside that, I don't think it is possible because the government in general has yet to fully legalize Bitcoin due to its decentralized nature. How can they accept it and decide to use it to pay pensions?

Unless some of them will accept Bitcoin, the majority of them will not agree to it because they will take some time learning about Bitcoin again.

Since this is a what if question then I'll answer with my what if answer. The exact percentage of people who will agree with this is unknown because it all depends on a person if he/she will agree or not unless the government will start a poll and share it to the public on how many people agree and how many people disagree to get paid in Bitcoin. Benefits?, I think there's none since they are old timers and will take much time to make them understand through teaching and not all knows how to use internet. Bitcoin isn't legal tender so that won't happen eventually unless the government does the same as El Salvador to make Bitcoin a legal tender.

Why would even a country decide to pay it citizens pension in Bitcoin when they have a local fiat currency. I don't see any possibility in this question because the people of the country would never agree to this. Individual countries are always looking for a way that would make the local currency gain strength so that it can compete with the Usd and have a strong strength to appreciate more. Even if this ever happens, not every citizens would agree to this and it might cause a big chaos that could affect the country's economy.

That's why this is a what if answer as I have explained and first of all, I agree with the other forum members that this won't happen at all since government wants to take control of an asset like fiat that's why it is impossible to happen. There's a possibility though for a person to get paid in Bitcoin like what happened on the year 2013 about a police chief received Bitcoin as his salary although it is already deducted with the tax just like in fiat before it is converted to Bitcoin. By the way, what's with the quote? Is your post for OP or me?. If it's for me then didn't you get it?, I am only answering the what if question with a what if answer. My post doesn't mean that a government will most likely pay citizens with Bitcoin. It's a what if answer to be exact which means I just answered the what if question.

No one can answer this question because it depends on how many people who are about to retire know and admire Bitcoin and the technology to consider getting their pension in Bitcoin and are okay with the outcomes of that whether it will be positive or negative since Bitcoin is a volatile asset and it can go up and down any time and that can be both good and bad for those people.

It can have both pros and cons in the long term. People who are getting their pension in Bitcoin will need to make sure that when they are getting it, the market is in the right position for it, getting paid in Bitcoin during the bull run and then seeing your payment losing value as the market goes towards the bear run can be a bad experience, for sure.

El Salvador is still using USD along with bitcoin, they do not fully use bitcoin for their country so people still have their own choice and are not completely forced to use bitcoin. But if the El Salvador government completely eliminates USD and only uses bitcoin, I think there will be controversy and opposition from the people. Furthermore, it would be very risky for their economy because the value of bitcoin is very volatile, they could even default if they only use bitcoin as currency.

This decision might be opposed by some set of this potential pensioners, OP as we know, is not everyone that is conversant with this system, unless the government will setup a training center to enlighten the citizen about how to make use of bitcoin before introducing this kind of payment system, even though the do, some people will still prefer the usual payment system, as long as I consider this as an assumption, I don't see this scaling through because the government see bitcoin threat to their system of governance, they won't like any stuff that will portray transparency to avoid being dragged. The government don't want bitcoin for many reasons, Bitcoin will make elective position less attractive and foster financial transparency.

If any country in the world takes this initiative, then I think it would be best from my side. Again, I see many people who will take this plan badly, and they will never accept the fact that payment by Bitcoin. However, if the government of a country takes such a decision by approving Bitcoin, then it is natural that all individuals must accept it and take the initiative to pay pension with Bitcoin. Although Bitcoin is currently being used in many countries around the world and people are buying a lot of Bitcoins, the popularity of Bitcoin is much higher than before. And I think if this initiative is taken in every country, maybe 30%/35% percent people will be able to take it. Because only those people who believe in cryptocurrency will take this initiative and the rest will take it as a negative. However, if a pension is paid by Bitcoin, then surely an individual will benefit if he can hold it successfully for a long time in the future. We know Bitcoin is a store of value and anyone who holds this Bitcoin will surely earn a profit and become financially self-sufficient.

Before a country decides to pay her worker's pension in Bitcoin, it means that the country has accepted Bitcoin as a means of exchange and that the citizens are very much aware of Bitcoin. I guess that is the only reason that can make a country to make such decision if not it will course serious problem in that country.

Let me take my country as an example, if such thing happens almost every one will conclude that the decision is burned out of the plan of the leadership of the country to extort money from her pensioner because in the real sense, most pensioners her aged people that don't know much about the current status of bitcoin

Where there is high chance of such decision to gain acceptance could be if the government decide to pay her young employee in Bitcoin, since most young people already know about Bitcoin, it will be easy for it not to be refuted by them

In my opinion I don't think that giving pension in the form of bitcoin can be profitable because everyone does not have knowledge about bitcoin and they even don't know when to sell their bitcoin and also if they don't know about Bitcoin's transaction then they will share their knowledge with others who can scam them and can collect all their bitcoin offer them as a pension fund. For some it can be profitable but not for everyone because no one will accept such risky money as they wait till the age of 60 to earn a constant value of money while the value of bitcoin never remains constant.

For retired people we cannot offer this opportunity but young people are aware of its benefit or loss because they are familiar with the use cases of bitcoin and they know how to collect money from bitcoin after a long run. We are in a desire to buy bitcoin because we know its value but everyone cannot realized that how worthy bitcoin is and giving knowledge to them about bitcoin will also take lots of time.

 I think 30% to 35% is an very exaggerated number as i don't think even 10% of people would like to receive their pension in Bitcoin. Just imagine those who will be pensioners now would already be in their 60s (taking global average) and most of the Bitcoin users, investors and adopters are in their youth or mid age so it would be alien for pensioners and I am a Bitcoin supporter and it's less volatile than othe crypto and I would say it will only give profit on long term but why would pensioners want to risk their  pensions because if it happened to be a bearish market their money will get struck,  they will panic sell it and regret and at the age when you have lived most of your life and living last quarter there is no a guarantee of life to wait for market to recover.

It would be unnecessary stress for someone and create anxiety I don't think this is a feasible idea. Maybe down the line after a decade or so when the people of current generation reach that age it would make sense as they know about Bitcoin.

Firstly the pension belongs to the government sector mostly, some private companies also do but mostly the government gives this to their retired employees. I didn't think that the government would take this kind of initiative because the government wants centralization and Bitcoin is decentralized, Let's say if the government applies this method then what do the employees do, Will they accept it, no never because they do not know about Bitcoin they only know the fiat currency then how they will trust such a new currency. But maybe they will accept this if the government orders them as they are the government servant and they are obeying to order. This will be a greater initiative and will be more beneficial for retired persons.

This is hard to implement as we are talking about government initiatives.
As much as possible, they would stick to their fiat. Some may offer, but the possibility here is just small percentage in btc.
I don't think they will go for 100% pension in btc. And besides, not all these pensioners would want to get their share in btc.
Most of them would like a secure payment method, which is in fiat. But we can't totally discard the idea for futuristic goals.

I think it’ll be a great idea. They may have a hard time using it at first but they’ll get used to it. Nothing is easy on the first try even when you learnt about Bitcoin, you must have asked a lot of questions and needed guides too. They may be aged people but they could learn it anyway. If this happened, that’s a double plus for Bitcoin cause that’s some crazy adoption. Who knows, another country could consider doing the same afterwards. But let’s not live so much in our imagination, the probability of such happening at this time is very very low.

It'll be a great step towards adoption. Just as we had El Salvador adopted Bitcoin as its currency of state.

If a workforce population is paid its pension in Bitcoin, it'll be a good way to safeguard their future and also the adoption of Bitcoin will get one more step towards being materialised.

Probably a lot of pensioners will not agree to accept bitcoin as their pension because we all know that until now, only few of the population are aware about how to use bitcoin and use it for their own convenience, while majority would still want to prefer to receive fiat most especially that the older and the more traditional people are involved here. But if its the only option, then they will accept it and force to learn on it.

But on the other hand, bitcoin can always be taught and learned. It might be hard on the start but eventually, people will learn to use it and protect its private keys because its a must in order to keep their coins sound and safe. And maybe we don't know in the end, these pensioners will appreciate bitcoin at the end of the day.

It should be a choice and not mandatory.

The younger tech savvy people will agree that when they retired.
One  of the limitations is that volatility my reduce the value of your pension.

It is very difficult to find a single answer for all users. For people over a certain age, it can be difficult to get out of the routine they are used to. For those who know Bitcoin, it may seem like a normal situation. Since 1 BTC = 1 BTC, I think nothing will change. Those who want to convert their salaries into fiat money exchange their Bitcoins when their salaries are paid, and so on.

If we want something like this to happen and have a positive impact on Bitcoin, it may be possible if it happens in many countries around the world. If this happens, the use of Bitcoin will become widespread and reach more people.

It is not very far from making this a reality, in El Salvador things can go in that way, directly to what they can pay, the government is clear that it Loves its people, that is why it has made it available for people to do their things. transact with bitcoin and they can fill things so that it is more stable in terms of the economy, it is up to the inhabitants of El Salvador if they want to accept the tremendous rule that their president gives them who seems to be the most intelligent person of all politicians in the world and the fact that it is in El Salvador gives an example to the other presidents  who still do not adhere well to the new economic Technologies.