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Title: Lets assume a merchant has employees who want to be paid in bitcoin... Post by: notig on January 19, 2014, 03:29:58 PM does the merchant gain anything by paying employees in bitcoin rather than cash? Lets say that the merchant also earns bitcoins by selling some service or goods. I suppose the merchant would not have to convert the portion of pay they are paying employees in bitcoin to cash therefore there is no 1% loss on that portion. But are there any costs in general for paying employees with cash? Would a bitcoin only system make payroll easier for instance?
Title: Re: Lets assume a merchant has employees who want to be paid in bitcoin... Post by: hilariousandco on January 19, 2014, 04:15:04 PM does the merchant gain anything by paying employees in bitcoin rather than cash? Lets say that the merchant also earns bitcoins by selling some service or goods. I suppose the merchant would not have to convert the portion of pay they are paying employees in bitcoin to cash therefore there is no 1% loss on that portion. But are there any costs in general for paying employees with cash? Would a bitcoin only system make payroll easier for instance? Depends. Maybe companies hire out third parties to pay wages etc. Maybe they have to pay fees on direct debits etc, but I'm not sure on this and will probably vary from country to country and companies. Title: Re: Lets assume a merchant has employees who want to be paid in bitcoin... Post by: skivrmt on January 19, 2014, 09:15:39 PM does the merchant gain anything by paying employees in bitcoin rather than cash? Lets say that the merchant also earns bitcoins by selling some service or goods. I suppose the merchant would not have to convert the portion of pay they are paying employees in bitcoin to cash therefore there is no 1% loss on that portion. But are there any costs in general for paying employees with cash? Would a bitcoin only system make payroll easier for instance? Generally this would not work unless one the merchant already has Bitcoin on hand, and two, the employees actually want payment in Bitcoins. Also 1 USD stays fairly close to 1 USD over a 2 week pay period or even on a yearly basis. Bitcoin, right now, fluctuates so much in price, someone's pay could be greatly effected by the current price of Bitcoin. If a merchant already has cash on hand, it doesn't cost him anything to pay their employees. Not including any fees for a payroll provider, HR manager, etc. |