Should I exchange one BTC for one month of labor?

[sportis]

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!

If you read the article when @OP made his post you will understand that the logic behind this is not that he will work for one month and his employer will pay him with bitcoin instead of the usual fiat (here yuan) but only a comparison to understand more people the value of a bitcoin. Reading the article there is a paragraph stating that celebrities and media try to convince the Chinese do not invest their fiat to bitcoin speaking and writing only about the volatility and that government will not allow bitcoin to grow. The conclusion is the authorities in China are using any means to force people to stay away from bitcoin.

[BingoDog]

Don't spend the whole month,salary on bitcoin. I don't want to,say that this is bad investment, no, it's good but still risky and you don't want to spend all your money, there is no need for that. Better invest little by little for a longer period and collect coins. Or maybe find some additional source of income so the part you could invest in bitcoin.

[Ayers]

i would do it yes, spend whatever you can for bitcoin now, because in the near future buying bitcoin would be very hard for two reason, the first is because the money needed to buy the same bitcoin would be far higher and the second is because more people will hoard for a greater value and will not give away their coins easily making exchange having less liquidity

[BitcoinHodler]

all i can say is that i wouldn't do it!
this means i get all my month's salary in bitcoin and i am not ready for moving 100% to bitcoin as my only currency and the world is not yet ready and i have expenses in my life that i have to pay with fiat and in my country exchanging bitcoin to fiat is a bit of a hassle.

[calkob]

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

If you can afford to and are able to still purchase food and rent for the month then i would say go for it.  That bitcoin could be worth a fortune some day and it will be the best months earnings you will ever have had.  I would love to get a months wages in bitcoin.

[Mometaskers]

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!

If you read the article when @OP made his post you will understand that the logic behind this is not that he will work for one month and his employer will pay him with bitcoin instead of the usual fiat (here yuan) but only a comparison to understand more people the value of a bitcoin. Reading the article there is a paragraph stating that celebrities and media try to convince the Chinese do not invest their fiat to bitcoin speaking and writing only about the volatility and that government will not allow bitcoin to grow. The conclusion is the authorities in China are using any means to force people to stay away from bitcoin.

Yup, I was actually confused a bit when I read the article. I thought he was asking a question too. I don't think the Chinese government can really hinder bitcoin to the point of being unusable. People in other countries would simply fill the niche the would be left if mining in China was drastically cut, for example.

As for what most people here are discussing, yeah, I'd give up work for a month if I'm sure to get BTC1. It's currently worth more than 3 month's salary here in my country. Then I'll immediately cash out before the price fall.

[BTCLovingDude]

this has been discussed in the past too. people talking about is it even possible to only life of bitcoin and get paid in bitcoin and only use bitcoin. and it may become possible in the future but not yet.
it is not enough for one person to fully go bitcoin but the rest of the world have to do that too.
and not to mention the volatility. as the article also says, that always is a deal breaker when it comes to wanting to receive money. if you wanted to keep it long term it wouldn't have mattered though.

[arransiv]

Depending on where you live,there are countries where that would be a pretty sweet deal and I would definitely take it,then sell some of the BTC to support my needs and the rest I will keep,if in the country you live in it seems like a good opportunity go for it,I think it's pretty cool that you can work for BTC

[OhMyCoin]

"Bitcoin looks evil in the eyes of the authority and it must be stopped."

Well, because they want to control everything...

[ice098]

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

try not to quit your job for bitcoin, earn bitcoin in your free time
 Make it as your hobby or your past time ,you are taking a rest but also earning.Make it as your alternative currency in case of  lackness.

[anonbit992]

I love bitcoin and would love to invest into them. But if I were you, I wouldn't do that because I will not be able to stand the volatility of bitcoin, I will find it very hard to sleep. If you can stand the volatility after investing a major portion of your salary, then go for it.

I know that it is kind of hard to decide. Why don't you simply toss a coin and when the coin is in the air, you will get the answer in your mind.

[MWesterweele]

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

yes you may , I have friends that quits their jobs for bitcoins, they earning bitcoins more than what they earn in their jobs. They can achieve their monthly salary for a couple of days only.

[Yakamoto]

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

That's actually an incredible look into some of the stuff that goes on in China, surprising that something valued at $1.2k USD is worth more than a month of labour in one of the more wealthy countries throughout the world (based on total wealth). In another way it makes sense, since there are so many people wages are driven down and the wealthy will buy things like this up.

It might be worth it for some people. It's a huge decision. For others, not so much.

Only invest as much as you can afford to lose.

[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

That's actually an incredible look into some of the stuff that goes on in China, surprising that something valued at $1.2k USD is worth more than a month of labour in one of the more wealthy countries throughout the world (based on total wealth). In another way it makes sense, since there are so many people wages are driven down and the wealthy will buy things like this up.

It might be worth it for some people. It's a huge decision. For others, not so much.

Only invest as much as you can afford to lose.

People may put too much hope on ponxi scheme like MMM to make quick fortune, or a way to escape the class barrier.

[neochiny]

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

That's actually an incredible look into some of the stuff that goes on in China, surprising that something valued at $1.2k USD is worth more than a month of labour in one of the more wealthy countries throughout the world (based on total wealth). In another way it makes sense, since there are so many people wages are driven down and the wealthy will buy things like this up.

It might be worth it for some people. It's a huge decision. For others, not so much.

Only invest as much as you can afford to lose.

One month only? Lucky you. In my place, 1 Bitcoin's been going for about 2 months of work, based on the average wage here. It's been so since the year started. [sigh]
1 whole Bitcoin's basically become something to save up for, for several months.  
At this rate, $500 per BTC (1 month here)has become naught but a pipedream.

[7788bitcoin]

My option is that, if you need the salary for daily living, then forget about taking BTC. If you are really keen, maybe a fraction of a BTC?

Until now, investing in bitcoin is still risky. Same advise - never invest more than you could afford to lose...

[izanagi narukami]

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

Bitcoin is something unique and it has high value more than gold recently. Just make sure that you have made your decision before try to change into bitcoin
Goverment also take responsible for this as they legalize bitcoin and allow their people to use bitcoin for salary

[marketone]

In this world the most valuable currency is bitcoin, so think twice before selling them because once you sell them it will be very hard to buy it back.
Because right now I am depending on bitcoin earnings only, so monthly I am using only the amount which is useful for my daily life and rest I am saving bitcoin in cold storage for my future needs.

[erickkyut]

I think it should depend on the kind of work and the work load. 1BTC is not bad for a month salary here in our country. It is already beyond the monthly minimum wage that an ordinary employee can earn but if the work load is far beyond the ordinary, 1BTC is not enought. You should ask first for the type of work.

[Kevin77]

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

Well, see even if the price went down ( considering the worst case ) then the price wont just become 0 in no time, since that's not how bitcoins works and hence you can just keep them with you and when you see a continuous downfall you should sell them. The benefit you get doing this way is that you always have the luxury to enjoy high prices if they are reached while still having the ability to sell smelling a descend.

I think it should depend on the kind of work and the work load. 1BTC is not bad for a month salary here in our country. It is already beyond the monthly minimum wage that an ordinary employee can earn but if the work load is far beyond the ordinary, 1BTC is not enought. You should ask first for the type of work.

In many developing countries, I guess it would be great achievement if they are able to get one full bitcoin as one month wages as per the current bitcoin price is staying above $1100 levels.