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Pathi (OP)
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May 21, 2015, 05:09:35 PM |
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http://www.foxnews.com/us/2015/05/21/why-it-might-make-sense-to-pay-your-employees-in-bitcoin-video/If your company regularly pays wages to international workers, then incorporating Bitcoin into the payroll process could be a major cost saver. At least, that is the conceit of Bitwage, which bills itself as the world’s first Bitcoin-based payroll service. In order to circumvent the costly fees associated with transferring money internationally, as well as the time it takes for such funds to move from bank to bank, payments made via Bitcoin can save both money and time for employers and employees alike, explains Bitwage’s founder and COO, Jonathan Chester. “By using technologies like Blockchain,” says Chester -- a public, chronological ledger of all Bitcoin transactions -- “you can actually see exactly where the money is throughout the process.” Very interesting times indeed.....
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Jeremycoin
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Activity: 1022
Merit: 1003
𝓗𝓞𝓓𝓛
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May 21, 2015, 05:16:25 PM |
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Actually, this idea is already told in the "What is Bitcoin?" video. So I believe, this should be working.
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faucet used to be profitable |
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RitzBitzz
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May 21, 2015, 06:27:12 PM |
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The only problem with this is price fluctuation but that will go down in time.
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Amph
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Merit: 1070
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May 21, 2015, 06:36:24 PM |
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The only problem with this is price fluctuation but that will go down in time.
which is indirectly correlated with the price being dumped, because in order to maintain the original value that you need to earn(in this case with a job) you need to dump it fast to not risk to have a worst payment from your job |
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bornil267645
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May 21, 2015, 07:00:21 PM |
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The main problem for this idea is that the price could drop any moment with bitcoin. So suppose you pay 1 btc and next day you find out the price dropped by 50%. So then what you will do. As long as bitcoin doesn't have a fixed zone, it won't be used for global uses like this.
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victoryboy
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May 21, 2015, 07:11:31 PM |
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The main problem for this idea is that the price could drop any moment with bitcoin. So suppose you pay 1 btc and next day you find out the price dropped by 50%. So then what you will do. As long as bitcoin doesn't have a fixed zone, it won't be used for global uses like this.
This idea will be applied able when Bitcoin will have more adoption and price will be stabled at some point with _+ 1%. In current situation this will be disastrous for work if price drops just before cashed them out.This will be seen but in couple of yeras. |
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jbrnt
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May 21, 2015, 07:13:56 PM |
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Companies can pay their employee in bitcoin, does the employee want to be paid in bitcoin? I don't. I need to pay rent in fiat and buy food in fiat. May there will be a time people prefer wages in bitcoin, it is too early now.
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GrandmaJean
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May 21, 2015, 07:18:22 PM |
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The main problem for this idea is that the price could drop any moment with bitcoin. So suppose you pay 1 btc and next day you find out the price dropped by 50%. So then what you will do. As long as bitcoin doesn't have a fixed zone, it won't be used for global uses like this.
price drop of 50 percent in one day? i mean it can drop like that in one or two weeks but really not in one day |
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boopy265420
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May 21, 2015, 07:19:38 PM |
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Companies as well as employees both should be ready to use Bitcoin.That will happen when market will be suitable for Bitcoin and people will be able to pay for their daily transactions in Bitcoin.Future belongs to Bitcoin but that day is still very far when a usual person will begin to use Bitcoin with full confidence without any trouble.
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IDKwhatimdoing
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May 21, 2015, 08:03:49 PM |
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Great service, these are the things we need to get Bitcoin going everywhere  I wish my employer paid me in Bitcoin! |
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Benjig
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May 21, 2015, 08:05:51 PM |
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The main problem for this idea is that the price could drop any moment with bitcoin. So suppose you pay 1 btc and next day you find out the price dropped by 50%. So then what you will do. As long as bitcoin doesn't have a fixed zone, it won't be used for global uses like this.
Bitcoin is not so volatile, even in the future will be somehow regulated. Pay your employees with Altcoin, that would be a huge problem. It is good to see this kind of stuff is happening but we need more Bitcoin mainstream, what good has getting paid with Bitcoins if you have to change them all for bucks. Maybe getting paid a half Bitcoin and a half Fiat could be a good solution.. |
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Elwar
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Viva Ut Vivas
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May 25, 2015, 06:05:34 PM |
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Great service, these are the things we need to get Bitcoin going everywhere I wish my employer paid me in Bitcoin! If your employer pays you via direct deposit you can use Bitwage to get paid in bitcoins. I have been getting paid in bitcoins since the beginning of 2015 via Bitwage. As for price fluctuations, I get paid every 2 weeks which is good for dollar cost averaging. On top of that, usually if the price goes down after I get paid I hold off on any spending I can hold off on for those 2 weeks. If the price jumps up quickly I buy those things I've been putting off. |
First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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Daniel91
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May 26, 2015, 06:20:39 AM |
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In my country this is not legal option because we can't report to the IRS the payment of wages in Bitcoin, only in the national currency.
Perhaps in this way companies can pay part-time staff but still remains the question of the application of income and how to exchange national currencies for bitcoin.
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hasmukhh
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May 26, 2015, 06:24:56 AM |
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if I owned a company and if I was thinking of paying my employees in bitcoin I would have denied this option from my mind.
a simple reason to deny is converting them to native currency.
the employees should have waited for btc and then waiting again for converting them to their own native currency would have been uneasy task.
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sana6801
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May 26, 2015, 06:34:31 AM |
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Great service, these are the things we need to get Bitcoin going everywhere I wish my employer paid me in Bitcoin! If your employer pays you via direct deposit you can use Bitwage to get paid in bitcoins. I have been getting paid in bitcoins since the beginning of 2015 via Bitwage. As for price fluctuations, I get paid every 2 weeks which is good for dollar cost averaging. On top of that, usually if the price goes down after I get paid I hold off on any spending I can hold off on for those 2 weeks. If the price jumps up quickly I buy those things I've been putting off. No many ppl like you are happy to wait for the rise of bitcoin. They can't tolerate the value loss and would rather get paid by fiat currency. |
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lemoncoolers
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May 26, 2015, 06:40:02 AM |
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if I owned a company and if I was thinking of paying my employees in bitcoin I would have denied this option from my mind.
a simple reason to deny is converting them to native currency.
the employees should have waited for btc and then waiting again for converting them to their own native currency would have been uneasy task.
Not really! Do you read the OP? The company Bitwage provides such kind of service. It Is easy nowadays. There are a lot of payment processors available as well. |
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Kyraishi
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May 26, 2015, 06:40:35 AM |
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Paying and being paid in bitcoin is a step towards mass adoption.
Even though we cannot avoid it completely, the further away from fiat the better.
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Kprawn
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May 26, 2015, 06:51:18 AM |
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The upside is, if the price rise by 50% your employees will be VERY happy.  You could work out a system, where you offer the employees a option to decide what percentage of their salary they want to be paid out in Bitcoin. You could offer them a higher salary, for every percentage they receive in Bitcoin. {Just split the difference in the saving you make by using Bitcoin instead of fiat banking services with them} Some people might not be able to pay for certian things with Bitcoins {Mortage / Bond payments etc.} So for that, you pay in fiat and the rest in Bitcoin. There are MANY creative ways to do this, just open your minds to the opportunities. |
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Miracal
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May 26, 2015, 06:52:46 AM |
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Paying and being paid in bitcoin is a step towards mass adoption.
Even though we cannot avoid it completely, the further away from fiat the better.
It is still early! Hope it come Great service, these are the things we need to get Bitcoin going everywhere I wish my employer paid me in Bitcoin! The problem is that the companies have no bitcoin income and reluctant to pay wage in bitcoin due to the extra conversion fees. And as an employee, there are no many places accepting bitcoin payment. Why bother to accept bitcoin wages. |
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ObscureBean
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May 26, 2015, 07:28:50 AM |
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It's awesome to get your wage in Bitcoin but one thing's for sure, if someone's getting paid in Bitcoin and he/she has a family to feed, they're not gonna take any chances and will dump immediately. Even the few hours/minutes from the moment you get paid to the moment you actually sell could mean you lose a few Dollars and if you're really down on your luck you could end up with only a fraction of your salary. It might be ok for a college student who's got a day job though  |
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