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Author Topic: 2013-02-19 thenextweb.com - Internet Archive Starts Taking Bitcoin Donations to  (Read 1086 times)
Maciek
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February 21, 2013, 09:23:44 PM
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Internet Archive Starts Taking Bitcoin Donations to Pay Employees

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The Internet Archive on Thursday made a bold announcement: the organization is considering giving all its employees the option to be paid in Bitcoin. The move is apparently in response to employees asking to be paid in the digital currency, as soon as this April.

Bitcoin is a decentralized digital currency, currently the most-widely used alternative to common forms of money. Because it has no central issuer, it has no single authority and thus no way to lock out certain users (or countries) out of the network. Bitcoin can be used to pay for certain transactions both offline and online.

...

http://thenextweb.com/insider/2013/02/21/after-employees-opt-to-be-paid-in-bitcoin-the-internet-archive-asks-for-donations-in-the-digital-currency/

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Phinnaeus Gage
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February 21, 2013, 10:29:42 PM
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One down, X employers, worldwide, to go.

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February 21, 2013, 11:45:16 PM
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fabulous news!

the original announcement by the Internet Archive is here
http://blog.archive.org/2013/02/21/employees-to-be-paid-in-bitcoin-please-donate/#comment-255751
Mike Christ
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February 21, 2013, 11:48:05 PM
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Awesome!  I wish my employer paid me with bits...

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February 22, 2013, 12:01:23 AM
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Wow .... pioneering experiment.

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February 22, 2013, 12:06:17 AM
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The Internet Archive does benefit from being among the first to accept Bitcoins and also being a service that many Bitcoiners use and support therefore they got a fair number of coins ... 822 BTC show as the total received and a balance yet of 336 BTC.
 - http://blockchain.info/address/17gN64BPHtxi4mEM3qWrxdwhieUvRq8R2r

It would be great to know the intentions of the employees who are opting to receive some of their salary as bitcoins.  Are they doing so because they are going to keep the coins (e.g., as investment / speculation), or do they plan to make purchases with bitcoins, or are they simply going to cash out to a local currency?

I know that organizations that need to send funds to a global workforce are constantly challenged with payment networks which have high conversion costs and limitations.  Bitcoin cuts through so much of the burden for the employer that using bitcoin instead will be a natural progression.  So far it is the P2P Foundation, Bitcoin Foundation and the Internet Archive as the first organizations to publicly state that they pay salaries using bitcoins.  When that list includes other org oDesk, Freelancer.com, eLance, etc. -- all of which would benefit greatly from offering Bitcoin as a funds transfer method for their businesses we'll know there's no turning back.

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February 22, 2013, 12:22:08 AM
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Its nice seeing an organization with the foresight to take a reasonable risk. Well done!

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February 22, 2013, 06:43:46 AM
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Wow, this is really surprising.

Interesting to see if / how much of their employees will take the offer.

All previous versions of currency will no longer be supported as of this update
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February 22, 2013, 06:45:33 AM
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I'd like to see how they'll average out the wage.  If bitcoin's value is going to be jumping back and forth, you could be getting paid great one day, and then blam, minimum wage or less.

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February 22, 2013, 07:45:23 AM
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It would be great to know the intentions of the employees who are opting to receive some of their salary as bitcoins.  Are they doing so because they are going to keep the coins (e.g., as investment / speculation), or do they plan to make purchases with bitcoins, or are they simply going to cash out to a local currency?

I suppose it will be both; spend some, keep some. But if there are more people with bitcoins in their hands (so to speak) that need to be spent, then there going to be more merchants wishing to accept them.

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February 22, 2013, 08:29:04 AM
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Very good news.. great to see another very intresting party getting in to BTC....!!!

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mccorvic
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February 22, 2013, 04:29:48 PM
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So awesome!

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February 22, 2013, 09:36:13 PM
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I find the motivation for seeking donations in BTC, namely paying employees, particularly significant. It implies saving on currency conversion fees and / or hedging currency exposure.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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