Should I exchange one BTC for one month of labor?

[hl5460]

At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.

http://news.8btc.com/op-ed-should-i-exchange-one-btc-for-one-month-of-labor

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[maydna]

At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.

i think you don't have to buy a whole of bitcoin but you can make order buy in small parts of bitcoin so you can have your salary to filled your need in daily. its not good to risk your salary just to buy bitcoin although you are tempting with the increasing of price and if you only buy bitcoin with your one month salary, then how you can filled your need for daily if you don't have money to buy something? be wise and not too greedy just to see bitcoin price is good for now but its up to you, i only can give this advice to you and i hope you can understand.

[n0ne]

If you feel yourself comfortable with the price then go for it. The price is quite good to profit you much higher, because we are in the zone were bitcoin is found above $1000 since February 14. So based on the needs its good to exchange to fiat, also etf approval is nearing which might give positive or negative effect though majority of users believe that etf gets approved.

[RoommateAgreement]

one problem with bitocoin only salary is that you need to spend money to stay alive! like buying groceries and paying the bills and stuff. and for all of these things you need fiat.

so you either have to keep exchanging bitcoin for fiat and buy with it or you have to go through a third party that offers some kind of card you can use and end up paying higher fees.

another problem is the price. lets say you got paid at 8000 yuan and 5 days later you wanted to buy something and price was at 7800 CNY what will be the plan!

[Dudeperfect]

At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.

I think in this year we might see some price fluctuations in the price chart and thus there will be some entry and exit opportunities. If you can manage to go with SIP (systematic investment plan) which focuses on buying in small quantities but in higher frequencies then you will have a good average price at the end. (It's my personal opinion and do your own research before investing).

[pooya87]

At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.

that means going all in bitcoin and i never suggest that to anyone.
price still is volatile and that makes it hard to rely on bitcoin as all your money to have and when the amount grows your headache grows with it also. because if you have for example 0.1BTC and price moves up and down then not much problem but when you have 1BTC or 10 and so on the smallest change is stressful unless you had that amount a year ago and are already in a huge profit which is not the case for monthly payments.

[mobnepal]

I think yes you should as bitcoin price tends to go up with time, you may get more than what you have agreed in terms of USD by end of the month. Also i think you also save tax on your income if you get paid in bitcoin.

[Warkop]

I think it is a good thing to keep bitcoin today, and there is the possibility of bitcoin will reach higher in the future, but I think you do not need to buy bitcoin with the results of your money in the work, because it is a real result you can biyaya you buy needs your everyday, I suggest you better join the bitcoin signature lies in service compensation in one week I think it was enough for your storage during the show was still running.

[Dimelord]

At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.

Just spend for your essential requirements like food,clothing and buy with the rest amount bitcoin,i mean 0.5 or 0.7.Just do it for two months and you will be having 1 bitcoin.Bitcoin has doubled in price over the last six months,and i hope your bitcoin would also double within this year.

[Kakmakr]

As with anything in life, you have to save for something, if you cannot afford it. I have a strategy that has worked well for me. I set aside a tiny portion of my salary every month for buying bitcoin. The thing is, I do not buy every month and this is where some people make the mistake.

I save this extra disposable cash in a separate savings account, linked to my exchange. When I see a dip in the price, I buy low and when I see the price rise again I sell for profit. I re-invest that profit and buy when it is low again. ^smile^

[buckrogers]

The way I see it, you are looking to gamble, or you wouldn't bring this up.

If you want to be in on bitcoin, then go for it, the trend is what it is, moving, always, right now its up, can it make more than 1 month's FIAT salary? no one knows, and anyone who tells you otherwise is full of crap.

If you can afford to try it for a month I say go for it, if not then don't bother, you are basically gambling

thanks!

[Herbert2020]

only for one month, then yeah why not. if one month payment is not life and death for you then yeah. but for many people who live from paycheck to paycheck and at the end of the month they have less than they spend it is not such a good idea.
going in bitcoin should always be with money you can afford to lose. it is a great investment and a great currency but it is not free of risk. and the risk is not just about the price, what if you lost your private keys for example because of hardware failure or a fire.

[Sundark]

Never go all in with Bitcoin. Diversification of your investments is a key strategy. You don't have to exchange whole BTC at once.
While I personally believe that BTC is worth it and you will definitely profit, maybe not instantly but at some point in time for sure.

If you can afford to try it for a month I say go for it, if not then don't bother, you are basically gambling

It is not gambling, we can see patterns and charts of bitcoin markets. We know how bitcoin works and that BTC will be worth more in the future.

[erpbridge]

At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.

Is it a one month deal or for long term ? Long term would be a foolish move to make as you would rather be going up or down due to the bitcoin price swings. Short term, its better than accepting cash as you can sort of skip the taxes for now and instead pay it forward or use it to pay your large bills with it. Will save you the taxes. Obviously, I don't recommend doing this if your country has a strict tax policy. But earning and spending it in bitcoin itself, might save you from paying the taxes.

[Schuyler]

That's not a big decision to make at all, because it is an easy one. Go for it and work hard for that one bitcoin. If it's going to be just a one month gig, then it is still ok. But if it's going to be a regular job, then better so you could accumulate bitcoin faster than others could.

[barnes13]

Don't spend all your salary to buy Bitcoin, you can spend 30% from your salary to buy Bitcoin, 30% is like a save, buy the Bitcoin everytime you got salary and save Bitcoin more profitable than saving your money at Bank, with Bitcoin you have you get advantage when price of Bitcoin go up.

[olyaru]

Don't spend all your salary to buy Bitcoin, you can spend 30% from your salary to buy Bitcoin, 30% is like a save, buy the Bitcoin everytime you got salary and save Bitcoin more profitable than saving your money at Bank, with Bitcoin you have you get advantage when price of Bitcoin go up.

Investments in bitcoin for the future are very effective. Of course the advantages of crypto currency are quite obvious and I think that you can save money saved in bitcoin. Virtually nothing to lose, because this money we still spend on bullshit.

[Idrisu]

At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.

One bitcoin for one month of labor is ok to me depends on what you will be doing. If you are specialize on a high demand course  it might not be ok as most programmers and medicals doctors earned three times of that. Again, if you are from countries like USA 1bitcoin may not be able to take care of all your need in a month. Though am happy people can now employed for bitcoin now.

[hl5460]

At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.

i think you don't have to buy a whole of bitcoin but you can make order buy in small parts of bitcoin so you can have your salary to filled your need in daily. its not good to risk your salary just to buy bitcoin although you are tempting with the increasing of price and if you only buy bitcoin with your one month salary, then how you can filled your need for daily if you don't have money to buy something? be wise and not too greedy just to see bitcoin price is good for now but its up to you, i only can give this advice to you and i hope you can understand.

With such a high price, daily purchase seems to be too minute and withdrawal has become a big problem.

[ralle14]

If you can afford to try it for a month I say go for it, if not then don't bother, you are basically gambling

It is not gambling, we can see patterns and charts of bitcoin markets. We know how bitcoin works and that BTC will be worth more in the future.

It's still risky because the price could go down after a few days due to sec's etf decision. Imo better wait for the sec's decision before doing this because the decision can heavily give an impact to the price.