Can we adopt altcoin to pay wages?

[markflayer]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it? 

[1714919217]

1714919217

[1714919217]

1714919217

[1714919217]

1714919217

[nellycanezo]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it? 

We have a problem to adopt altcoins for wages. Example, if the person have wages for 1000$ per month and you will gave his wages into eth equally to 1000$. The problem is when he cash it out, theres a percentage taken from his capital. So his wages will deducted for that conversion or selling service fee. That wasn't applicable for wages.

[tora]

Two main problems are the value may fall before they use it and there are not many retail and service outlets that accept cryptos.

[markflayer]

I think payments is not possible in such alt coins where movement is high. Constant altcoin maybe considered for it.

[BillCoin]

Biggest problem is that salaries are usually the people's main income, and you can't really buy a lot with crypto, you can pay it to the governments as taxes and you can't really live on it.
Not only that, there are not a lot of people that will agree to accept crypto as their salary because it's price tends to be very volatility, and most of the people won't afford to lose their entire salary of the month just because they received their salary as an exotic currency.

[OluwaTosin10]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it? 

Yes, wages and salaries can be paid with altcoins, the only problem to be faced will be the issue of acceptance by staffs, but i believe with Dascoin working on a BTC debit/credit card, such issues can be settled, resolved and done with ease.

the future will be about blockchain

[Jizel]

I think it's too early to talk about it. Because the crypto currency market is very unstable. Therefore, it may happen that a person when receiving a salary will count on one amount, but will get a completely different and not a fact that will be in the black. In addition, a number of states do not unequivocally assess the development of crypto business and take steps to block, in this connection, people can not withdraw their funds.

[tenebriscaelum]

It can be a good way to promote altcoin or cryptocurrencies in general, the only drawback is its price volatility which will affect the wages if converted to fiat unless that an individual is willing to have a certain amount of altcoin/token with in a month or payout regardless of fiat conversion. Also the acceptance of many people in cryptocurrencies, there are still many people that are dumbfounded or does not accept it. But if it will all change then the advancement and future of cryptocurrencies will change.

[Vivisector999]

You can do this.  The biggest problem is if your employee would want to accept an altcoin as payment, as usually all coins need to be converted into Fiat anyways in order to pay for most things, and the trading could involve some waiting, or loss in pay if a coin falls in price.  Also the problem with needing to pay taxes on the cash you pull out, assuming you will be paying proper taxes to begin with, would mean the employee would be double taxed if they were paid in Cryptocurrency.  It will work better in the future assuming a few cryptocurrencies take off, and could be used to pay almost everything. 

[poplolnman]

Biggest problem is that salaries are usually the people's main income, and you can't really buy a lot with crypto, you can pay it to the governments as taxes and you can't really live on it.
Not only that, there are not a lot of people that will agree to accept crypto as their salary because it's price tends to be very volatility, and most of the people won't afford to lose their entire salary of the month just because they received their salary as an exotic currency.

The volatility problem could be solved by pushing the market value with supply held by the developer , for example ripple. The real problem are when there only few people who interested to use and adopt it even they know already the price would have less value movement, in the near future I feel pessimistic.
Second one , crypto currency well known as a tech savvy thing , the traditional people would reject it.

[mautenisis]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it? 

The high volatility of the market,because what if someone who doesnt know the market volatility received some altcoins,lets say LTC for about $2k and the market crashes and its valie falls below $1k what would he think? someone has stolen his salary that is why cryptocurrencies are too much for some of the people who doesnt know how it works.

[cryptomngr]

You can if the market would be stable which is quite impossible because we have a small marketcap these big players an easily dump bitcoin's value that is why it is too risky and wont be possible as of the moment because it might be the reason why these workers are going to lose their money if the market has been dumped by those whales.

[rudolfaxl]

I think that today this is impossible, because many countries have not adopted the law on the crypto currency. In addition, I don't see the point, because the crypto currency has a very wide application. Don't take crypto only as a payment tool.

[disconnectme]

The main problem with Altcoin is volatility, because weeks ago the likes of Ethereum, Bcash and Dash were all above $1000, just imagine the fiat value that all these tokens have lost, if you were paid in BTC when the price was above $15k then you have lost 50% of your income. For now, that won't work because the price swing is too high

[dedelp01]

We can I think but the main problem is that when altcoins drop its price it loses its value, those who earn their wages from this altcoin will also lose lats of money with doing anything. sad

[Hesaplar]

I don't think anybody want their wage as altcoin. Which coin do you have in your mind for this work?
I don't see any stable altcoin in the market. How can you calculate wages and budget?

[Yakult]

No one would like it. Altcoin price as depleting once in a while. Getting paid with your own currency is sufficient. This will cause a huge uproar if the alt loss its value. Besides no one accept exchange from alt to cash.

[goaldigger]

Altcoins unstability of value is not fitted for a regular monthly wages and salary. People needs fixed salary for fixed expenses like bills, food, clothes, rent, etc. It is not possible that you would eat three times a day this week and once a day next week because of the value. Theres some social experiment on youtube about the salary agreement on cryptocurrency. Find whats the reaction of the employee.

[modtakels]

It can be done but the question is,do you think you can handle 90% loss when the altcoins has been down? for example an employee has receive $1k for his monthly salary,would he want to have $100 instead when the market or bitcoin's value has dropped to 90% ? nah,it might not be possible as the people are more dependent to fiat.

[Coin-1]

Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?  

actually we can use digital currency for wages but we need to accept that volatile price of it so after you already got your wage like you got already your altcoins better to exchange that in btc then in fiat so even we have volatile price still you already exchange your wage,i think also better have dollar for wages because we don't need to exchange that faster not like the volatile price of digital currency so i post only the possible things that's all both digital currency or fiat are good for wages

Fiat money is slightly volatile too. I don't see the problem to pay wages in the shape of altcoins, if the worker agree to receive a crypto currency. Take a look at the bounty hunters. They work for tokens very well. In addition, these tokens are concerned to some startup company and probably very promising, therefore the price of the earned tokens can grow, so the wage will grow too.