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Author Topic: Fare & Salary  (Read 1331 times)
sumanto
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December 08, 2017, 09:18:38 AM
 #41

In the current economic situation of your Nation, can you say that companies will use Bitcoin as a salary money?

it is very possible if in the country you work already know the benefits of bitcoin and already cheat bitcoin and your company is familiar with bitcoin then you can be on salary using bitcoin.

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Rajamuda
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December 08, 2017, 09:27:55 AM
 #42

According to my knowledge, notyet.. it hasn't been able to knowing by me.
Especially in my country, it seems impossible, because the most people are lack of knowledge about bitcoin.
But maybe for some countries that have legalized bitcoin, I think it seems likely that it will happen or be applied. Some efforts or ideas, of course.. will be launched as much as possible, if indeed it has become an unanimous decision.

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December 08, 2017, 10:14:11 AM
 #43

In the current economic situation of your Nation, can you say that companies will use Bitcoin as a salary money?
It's useless mate. Bitcoin's prices are so very volatile, that the employees of a company will not be benefited much,unless and until they have been involved in the crypto currencies for some time. The economy will also not benefit with such measures because it doesn't change the GDP in any ratio. It in fact reduces the GDP when the GDP is measured by the income method.

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December 08, 2017, 10:28:29 AM
 #44

It can work but considering the price volatility it's unlikely that companies would start using it today. It might work if the salary is computed in fiat value but then again since the btc value would be changing often, the employers might not be willing to pay the transaction fees.

And consider what may happen after. If the price might still skyrocket after a month, why give btc away when you can keep it? If you were sent btc for salary and the value collapsed before you received it, how would you feel?

Only freelance jobs would probably use this but then again freelancers aren't as protected as "regular" employees anyway.

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December 08, 2017, 10:36:40 AM
 #45

I heard here in some news that they are considering to legalize bitcoin but theres no solid proof to back up that statement. There are many issues that need to be resolve in our country and i think they were not ready to adopt bitcoin to use as salary for people. Given the fact that the price is unstable, employees might declined to risk their money with the volatility of it. However if the government spread btc awareness and state the benefits of using it, i wont be surprise in few years coming if they will start to implement it.
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December 08, 2017, 10:48:02 AM
 #46

In the current economic situation of your Nation, can you say that companies will use Bitcoin as a salary money?

My government still consider as criminal money as it can be use for corruption or terorist funding that's why my government still forbid bitcoin usage.
They also want to make the legit regulation about bitcoin on the next year 2018 so there is impossible for me to earn salary with bitcoin !

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December 08, 2017, 11:00:25 AM
 #47

In my country people are still debating whether bitcoin is a bubble or not, in the past months have seen people increasing their financial literacy, however they are more looking forward in the traditional stock market and don't even try to check out crypto currencies, mainly bitcoin and probably when we try to make bitcoin as payment for fare and salary, a lot may oppose, since they do not understand how bitcoin works, but if bitcoin is going to be used as salary, it will depend on the value of bitcoin at that time and a lot of computations and regulations will have to be made.

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December 08, 2017, 11:15:08 AM
 #48

In the current economic situation of your Nation, can you say that companies will use Bitcoin as a salary money?

With the sudden price surge of Bitcoin hitting the $15k mark within no time after reaching the five figure milestone, my country's (India) central bank that is the Reserve Bank of India advised citizens to invest at their own risk citing the possible 'bubble' situation of Bitcoin.
After such an announcement, I don't think any company would step forward to pay their employees in Bitcoin as it would be problematic for both parties and given the lack of knowledge about cryptos, it only gets harder.

I agree that the price behavior may cause investing/ buying bitcoin to be a high-risk activity.

But if we look at the tech aspect, I think that bitcoin could be considered to be a good choice to pay/receive your salary at( if we avoid looking at the price, just looking at the tech).
It is fast- you can transfer money over the world within minutes.
It is cheap- instead of paying large amount of money to services such as Western Union, you can transfer through bitcoin any amount of money for a very small cost.

I think that it could be successful and very useful to people who works over the internet and get their salary from abroad, it can save a lot of costs.


Looking at the technological aspects of bitcoin, it would be preferable and useful to use however it would still be hard to adopt because of the lack of technological development in the community, especially for a country with low economic stature.

Some have been relying on bitcoin as a sideline income by converting their earned bitcoins into fiat or cash, which helps those who earn little to cover for some of their expenses. Those in poor economic countries have low wages and this kind of sideline income helps a lot.

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December 08, 2017, 11:15:34 AM
 #49

In the current economic situation of your Nation, can you say that companies will use Bitcoin as a salary money?

i think no. because some other companies are totally blind in this bitcoin, they are all no good to take a bite to get involve in bitcoin world, maybe because of some negative news all over the internet and in addition that they are all believing that this bitcoin is a bubble. but for me it is a great idea to implement on some of the companies as a monthly salary to their employee. because they can save a lot of time to make salary to their employee, for the fastest and easy way of sending money by this bitcoin. im hoping too that this kind of idea will implement soon.

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December 08, 2017, 11:27:43 AM
 #50

In the current economic situation of your Nation, can you say that companies will use Bitcoin as a salary money?
Yes, in my country many companies use bitcoin as a salary money. We get many profits from bitcoin and we call salary Smiley

lablab03
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December 08, 2017, 11:30:06 AM
 #51

For now maybe not yet, But as the performance of the bitcoin showing today, and if this will still continue in its performance in the proceeding years, there will be a big posibility that bitcoin will be recognize in my country and will be used in salary.
yes that's true which is we cant say it right now but its possible to be a salary in the future.  Because this currency has a massive demand from many people thats why its value so expensive  so there a possibility also that soon it will be on public and perhaps theres a chance also that bitcoin will be legal in any country  and will be used in salary in different companies

fuding12
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December 08, 2017, 11:39:31 AM
 #52

Although I think it is difficult to apply salary with bitcoin, but I've heard there are some companies that pay its employees with bitcoin.
if I am not mistaken, is the Sputnik news agency, which operates in Kyrgyzstan.
I do not know if it works !!.
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December 08, 2017, 12:04:54 PM
 #53

it is very impossible here in my country that they will give bitcoin as a salary to all employees,we have plenty of corrupt people here and having bitcoin as a salary is very heavy to them and i think banks here will not agreed to that. in my country that will be a long process if they will trying to implement bitcoin to be our fare and salary .

randyg29
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December 08, 2017, 12:35:23 PM
 #54

I think I agree that it can't happened right now, although there are many companies here in my country I don't think if they will accept bitcoin to be there fare to the employee like me because of it's decentralized many companies can't trust to it.

Renal
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December 08, 2017, 01:44:09 PM
 #55

In my opinion this will be difficult to happen, because bitcoin still can not legend the government in the country of Indonesia. And bitcoin is difficult to do with salary because the Indonesian people do not know with bitcoin.

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December 08, 2017, 02:56:59 PM
 #56

Bitcoin will never be used as a means for payment of wages. It is very difficult to find examples to use bitcoin to trade. I am sure that next year bitcoin is sure to be upgraded. Conditions will be created for trade. This will lead to a rise in the popularity of bitcoin but even in this case, the salary will only be in Fiat.

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buwaytress
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December 08, 2017, 03:17:57 PM
 #57

Now it is impossible for several reasons. First, companies have obligations to the government. They are obliged to pay wages in national currency according to the accounting rules and currency legislation. Secondly where the company can take this amount of bitcoins on a regular basis? Thirdly are still many people who don't know what bitcoin is or don't trust him.

Actually, you hit the nail right on its head even with your first reason. The entire civil service would be bound to use the national currency in some countries, especially the ones with developing economies. It's actually only because of accounting and regulation under its centralised system. For them to change that, they'd have to change their underlying system... central banking structure, tax, even social savings.

Presumably all that happens, they'd still have Bitcoin's network to contend with. I somehow doubt every citizen's salary can be made with one tx, or if those txs could even fit in a block. Buying and then sending Bitcoin for salaries would be... enough to "break" the network even for one country. Unless maybe they do everything off-chain first.

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December 08, 2017, 03:42:24 PM
 #58

Bitcoin will never be used as a means for payment of wages. It is very difficult to find examples to use bitcoin to trade. I am sure that next year bitcoin is sure to be upgraded. Conditions will be created for trade. This will lead to a rise in the popularity of bitcoin but even in this case, the salary will only be in Fiat.
Exactly, we cannot really say that in every company they will agree to pay us through bitcoin, I highly doubt it it is not fair for the employee when the price of btc is low and disadvantage for the company owners if the btc value is high enough. But of course, bitcoin can be used as just an alternative way for us to pay our bills etc.

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December 08, 2017, 05:14:05 PM
 #59

In the current economic situation of your Nation, can you say that companies will use Bitcoin as a salary money?

Currently not. With our low fiat currency value most likely Bitcoin as a form of salary will confuse the status quo. Though it is highly encourage to use other digital currency to provide a more transparent salary.

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December 08, 2017, 06:36:46 PM
 #60

In the current economic situation of your Nation, can you say that companies will use Bitcoin as a salary money?
In our country's current economic situation, this is not yet applicable. People are still the process of knowing the nature of bitcoin and many don't believe in it. Maybe a few years from now, yes! That can happen but this will take much time. People should be educated first before the acceptance of bitcoin to be a salary of each individual in the company. After that, when salary is open to being bitcoin, maybe not just the fare but even in restaurants and groceries can embrace that idea.

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