Bitcoin Forum

People getting paid in Bitcoin.

Using bitwage.co, starting in 2015 I will get 100% of my paycheck in bitcoins.

2014 was the year of big companies accepting bitcoin but converting those to fiat. 2015 will see more and more people choosing to get all or part of their paycheck in bitcoin.

There has always been a chicken and egg problem with Bitcoin. Merchants won't accept it because people don't spend it, people don't spend it because merchants don't accept it. People getting paid in bitcoin will push the spending part.

If by the end of 2015 there are 10-20,000 people getting paid in Bitcoin that is a huge steady stream of fiat to bitcoins, setting up 2016 to be huge with the halving.

it's few months i'm considering to ask the company i work for to pay me in bitcoins instead of euro (i work in europe)
today i found out bitwage, i wonder if european companies can actually do this and if yes i wonder how easy is bitwage to use (for both parties)

do you have experience with it? any feedback from workers / employers ?

I just started using it. In the US most of us get paid via Direct Deposit into our bank account. To make this happen we give our company our bank account number and they make a deposit on pay day.

bitwage asks for your payroll company and some information about you, then they give you their direct deposit number to use. By getting your information, when they get a deposit into their account they can look at the source and see that it is for you. They then convert it to bitcoins and send it to your address.

I guess something similar could be done if you use your IBAN for deposit. I am impressed by the way they figured it out.

I am interested to know whether or not the CIYAM Open model of working (on tasks rather than for a single employer) is something you have or would consider?

If this project can fly, the impact might be huge. It'll solve the classic price drop problem due to large dumping as this will work as a counter force for price rise.

ye i guess so,
but bitwage seems usa-oriented. i hope a similar service will pop-up in europe sometime soon and i can finally get rid of bank account

I have certainly used it for my website to some extent. I hired a few people via Freelancer to do specific tasks. From an employer it is good because you can hire for one thing you want done and not have to pay when you don't need work done. Though from an employee's point of view it is more difficult because you spend a lot of time searching for your next job.

I work in the contracting world. There are two types of workers in this world. Someone who gets hired on for a short amount of time to help complete a specific task and someone who works for a company that gets contracts and assigns it to their employees. The person who works short term for specific tasks tends to get paid about 2 or 3 times the amount of the regular employee, but they also have to take on the risk of not finding another contract, paying for their own health care, retirement, etc. The regular employee will take a lower pay but they usually have a stable job for a few years with benefits.

I don't think too many people would want to work doing specific tasks. But with the low employment rate, they might not have a choice.

Or you can start one in europe ;)

Agreed - I was a contractor for many years and I created CIYAM Open as actually that is the way I am comfortable to work.

From the dibber's perspective the main issue is the number of project tasks that are available - so this is again a "chicken and egg" problem.

I would not do well. I am only good at spurts of productivity. So I need a cozy job that lets me post on bitcointalk all day until something big comes up while still getting paid :P

Hmm... well maybe if the tasks have big enough rewards then those spurts can see you through times of inactivity without going broke in the meantime - but thanks for the honesty (that does help me to understand why the concept is perhaps *ahead of its time*).

I think a lot of people are not ready to be paid in bitcoin because of the volatility.
That is the only big drawback which demotivates people from investing into bitcoin.

Even 5-10% of your paycheck would be a good way to get started.

There needs to be a larger collection of available job types. Bitcoin can't advance unless you can be something like a common retail employee or construction worker and get paid in btc.

The concept of getting people paid in btc is the best way to enlarge the user base. But how do get people that make a living playing with hammers and screwdrivers to take their pay in btc?

Companies should pay workers in bitcoin
Goverments should accept is as means for taxation, not that I'm in favor for taxation, but that battle cannot be won, ever.

They can. I work for a US defense contractor, do you think they would ever start paying in bitcoins? Not likely.

But with a company like bitwage.co I can get paid in bitcoins without my company needing to know anything about Bitcoin.

can Europeans get paid?

Looks like they only do ACH.

I am much better with just a portion being paid in btc. I would be scared to scramble to convert btc to USD in order to pay the mortgage. Again that goes to what your saying cause if bank of america accepted btc for my mortgage payment that would solve that problem.

Interesting, I almost wish I wasn't retired so I could set it up. Almost  ;)

But you're a techie guy, how do you get the contractors, retail workers and everyone else to do it?

That is the Bitcoin world...just like the early days of the Internet. How did the contractors, retail workers first start shopping online or using the Internet? They came to it later, some still preferring to shop in stores.

I think bitcoin will be the future of the all currency. As many people will be introduced to this. They will absolutely love this cryptocurrency for its benefits. And i am happy to be part of this great things.

They used to once upon a time before the economic crisis  :P :P :P

wow, it is really curious
could this be use as a payment method in,for example,signature campaigns?

You already get paid in bitcoin for signature campaigns.

That's true. The more I watch the growth of Bitcoin the more I realize that I won't be alive to see it's use become commonplace.

Yes, I agree with you but this will not happen by chance.
We, all ''happy'' bitcoin users should help and introduce benefits of BTC to people around us, specially to local businesses and merchants.
If we do nothing, and expect that someone else will promote btc instead of us, and do ''our'' job'', we will see very slow progress of BTC in coming years.

why not just convert your salary to bitcoin yourself?

I could get my dollars into my bank account and then go to my bank account, find out how much my income was for that paycheck, then go to Coinbase then buy the bitcoins for the amount in my bank account.

Or, skip the bank, have my paycheck go straight to bitcoins and not need a bank account. My plan by 2016 is to no longer have any bank accounts. A few bill pay sites are starting to crop up so this will be very possible. It will be like the day I cancelled my land line telephone, it was risky at the time (everyone had a home phone their whole lives, minutes per month were limited on cell phones, signal was not guaranteed, etc.).

Many other company will accept Bitcoin in 2015. This year and maybe half of the next year will be a sort of catapult for the big company which has decided to accept bitcoin in this 1 and half year. But, I think that, if there will be a solution to increase the number of transaction, market capitalization will be able to reach 100-200 billion of dollar !

imo I think were a couple of years away from people getting paid in BTC (at least on a scale enough to make a difference to the general momentum)...

In 2015 I think the big thing will be a 'killer app' that gets the public's attention and gets the facebook~tweeter~instagrammers to start actually using it. 2014 is company adoption milestones, 2015 will be public adoption milestones.

Once we get some actual positive feeling behind BTC from joe-random-public-nontech-community types of people and seeing actual large uptake in casual usage from new comers, then companies might start looking into wages.
I know many people around here think there is plenty of positive momentum in the public, but from what Ive seen talking to people, looking at nonBTC website comment sections when they run a story on BTC, all the media reports etc. etc. the majority feeling from everyone I see is 1. confusion and 2.'isnt that the online currency to buy drugs'? As long as there isnt public knowledge, there wont be enough demand on companies to switch around their salary workflow (which is not so easy actually, so there will need to be a lot of demand for it!).

...


OR, in 2015 a country adopts BTC as its legal tender - this then in turn triggering large scale public attention, which converts into public uptake and usage and then companies in that country pay people in BTC....

 :P

What if Stephen Spielberg decides to make a movie about it?

Then we would have to wait for the 5th or 6th movie to find out what happens.

I work in an office full of people who are prime candidates for using Bitcoin. We all work in Europe using euros but get paid in dollars. The bank my co-workers use gouges them on the exchange rate.

I haven't been pushy about it but I just mention Bitcoin as my solution whenever people bring up the horrible exchange rate they are getting.

There are 10 people in my office making 6 figure incomes. A few of them have started to show interest so I pointed them to the exchanges I use and will let them do their research. I am sure by the end of 2015 most of them will get a portion of their checks in bitcoin for their local expenses. And we're just one office in a building of hundreds.

I hope the companies like newegg and overstock allow their employees to be paid in btc. They could be the leaders in that sort of "cycling" of btc. I've been a wage slave. The banks bleed you over and over. It would probably be very cost efficient over at payroll dept once it's all restructured.
I'd sign up! Put the btc in the hands that will use it!
As for big events? Don't world events tend to not influence btc? Like, user unaffected?

Why not sign up now using bitwage.co?  ???

I'm looking forward to the day when professionals with 6 figure salaries ask for even 5% of their paychecks in bitcoins. I just hope the US government won't invent a new type of crime of Paycheck Laundering.

That seems a little risky don't you think considering the price flux of BTC?  Which will either drop or raise the price of goods/services you require to pay with Bitcoin?   Think about it.  Yes you can use services like Coinapult but price really needs to stabilize.  I don't think bitwage will be the thing that creates mass adoption.   There are many other problems to work out.  Just my word.

Risk brings reward. It was risky to buy an untested set of bits that was being called a currency when the price was worth less than $10 each.

Worst case scenario, the price drops to $10 within a few days...that would mean that the next paycheck I would be buying bitcoins at $10. I might have to delay some spending for 2 weeks. But I don't live paycheck to paycheck. So it really wouldn't matter for me.

If you don't live paycheck to paycheck that puts you ahead of about 85% of the rest of the world. You're very lucky. Most people would suffer without their next check. Some of them wouldn't have enough food to last a couple of weeks.

I don't think this will be the biggest thing. I think that will be some market or industry adopting bitcoin like the remittance market or the oil industry or something. More merchants is also good.

Which is sad since you can cut your spending by 10% for 5 months and you'll be one paycheck ahead (if you get paid every 2 weeks). Considering the amount of junk is under people's Christmas trees right now, they can afford to live on 10% less for a few months to get ahead.

I am glad that Bitcoin will incentivise people to save as opposed to the dollar that incentives spending as quickly as possible.

It is sad. People in supposedly well off countries are living at or below the poverty line. The rest of the idiots have money but spend all as soon as they get it. A few at the top have more money than they could ever spend. I hope Bitcoin can help because people need something to change.

2014 was the year of big companies accepting bitcoin.
2015 will be the year of people that will use bitcoin for pay product of big companies.
End of 2015 we will see a stable flow of transaction between 200-300.000
2016 will happen something of very big.

Am I the only person in the Bitcoin community who thinks Employers are *nowhere near* the point where they will consider revamping their payroll structures to accomodate for Bitcoin?  I mean I would expect to get laughed out of the building at any company that has more than 10 employees.  How exactly are you guys planning on pulling this off?  Businesses have structure and guidelines, and attorneys who set up exhaustive payroll processes for the company. 

What evidence do we have that any employer whatsoever is going to be interested in doing whats necessary to add this feature?  Especially when one dude in the whole building wants it because he thinks its cool ?  I think it may be a great way to put a "bug in their ear" about Bitcoin payroll, but I believe there needs to be substantial consumer demand by multiple employees before anything like this will ever be considered. 

Yet everyone's talking like its right around the corner?

-B-

Did you read the OP? It is already here. My company would never pay out in Bitcoin but with bitwage.co it doesn't have to.

2014 was full of big things and still no mainstream acceptance.

My opinion:

Companies start to accept BTC worldwide, not only in US and/or Europe.
Companies receive directly BTC payment, not using bitpay.
BTC easier to be bought. For example, one could buy BTC in the internet bank.

Big dudes accepting bitcoin without restriction(even bigger than the current ones)

My paycheck is primarily used to pay last month's credit card bill.  ;D
Unless banks start accepting bitcoins, it would not be helpful if people like me were paid in Bitcoin.

Moreover, rent and utility bills have to be paid in fiat. So we would most probably dump bitcoins as soon as we receive them.

This is actually quite cool. If a large company such as Microsoft (unlikely but it could happen) decides to back this then BTC is definitely going to surge. Let's go 2015!

I don't see it being "the biggest thing" of next year but I do see its usefulness.

1. Part-timers who love bitcoin and have other money elsewhere might choose this.
2. Illegal aliens who don't have or a afraid to have a bank account and need an easy way to send money home.
3. Total BTC nerds.
4. People working at companies that are on that grey line of being illegal and want to protect their identity.

Basically geeks, marginalized, or those seeking more financial options.  More or less the same people that use BTC. 

When 50% of the places I shop at start to accept BTC and give me a slight discount for it, I will be happy to switch over, but the reality is I haven't ever bought even a single thing with a BTC.  In the city I live, there is not even a single place, and of the places I shop online, most of them don't accept BTC.

To me, 2015 won't be the year I get paid in BTC, but the year I bought my first thing in Bitcoin, and I consider myself an early adapter.

agree. If you plan to save your treasury in bitcoins, you just lose if you get paid in euros and then buy bitcoins is much better ( you wil get more bitcoins) if you get partly paid in BTC.

but I mean as a way to automate and manage bitcoin payments

Well we all hope that it really does and bring good for bitcoin community.

You could always write a script on your server to send out automated payments.

This will be the biggest gateway into the mainstream. Some serious seed investment has been thrown at these guys.


https://play.google.com/store/apps/details?id=org.getgemsmessenger.app&hl=en