Can we adopt altcoin to pay wages?

[yugyug]

The concept is quite achievable to adapt altcoins as payment for wages but there are still a lot of risk involve, as the cryptocurrency is now a mainstream it is still not clear on how to correct its volatility, it is always unpredictable unless when the currency is only acceptable within the ecosystem and the exchange rate is always justifiable like a direct exchange of 1 apple to 1 altcoins regardless of inflation outside of the ecosystem.

[fatenmo]

An interesting concept but I think its too early for the following reasons:
Volatile market
Not many places where altcoins can be used and there is a fee for turning alts into fiat
When translating the salary from alt to fiat most likely there will be a loss
Still, a majority of people do not understand crypto and so would not accept it
Legislations would probably need to change because wages are taxable

[rafaeljohncruz]

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

it could.. actually it is already happening...

[keycellko]

Some companies in Japan are already adopting cryptocurrencies, bitcoin specifically, as salary for their imployees. There are also jobs online that you can get bitcoin for salary. What people see with crypto used as wages is that their money's worth may increase in time if they don't use it. So they are encouraged to save their cryptocoin and spend fiat. This holds true for bitcoins, but for altcoins, we need to establish a coin that is stable enough not to crash right after you receive your salary. So that means it has a long way to go.

[vladaziya1]

Yes, it is always possible. Problems can consist of competitors who also want to make their crypto currency into circulation, so it is difficult.

[lotfiuser]

ethereum ? yes other idk , but it depend on the people you are paying with altcoin as if the price drop a lot they wont ask for more

[meyklove]

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

Their will be a big problem knowing that if they will pay you in terms of altcoins, you might receive a less or more than its value if you can't cash out immediately.

[omonuyak]

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

It is possible to used altcoins for wages because cryptocurrencies is an advanced money and currencies and things are actually improve and I do believe that time is coming when it will be adopted. I believe that if bitcoin can be stable every other coins can be also stable and we would be able to come into governments understanding to used cryptocurrencies.

[kryptqnick]

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.

Well, I think many people could agree to salaries in coins (if they are solid, of course, not some new ico tokens). Some will prefer fixed salary in, say, eth, while for those who don't like volatility there can be made a salary fixed in fiat, but payed in an altcoin. I don't see many problems with that. Perhaps, for now the biggest one is that one has to sell the coins for fiat anyway, because they can't be used as means of payment almost anywhere. This connects us to the next problem of using exchanges and thus getting quite some fiat onto debit cards, which will look suspicious, since salary cards should be designed specifically for it. What I am trying to say is that for now receiving the salary in cryptos would look illegal and shady.

[Moiyah]

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.

Strongly agree. Our wages or salary is stable while when they paid us in bitcoin it might end up that it will not reach our agreed salary and that might be the start of the problem. Crypto's price as we all know are volatile, we may be happy if it turns out that btc's/eth's price pump high because our wages will also increase.

But then again, how about when it is at the dump situation? And also, it is not that convenient to transfer money in different banks and then wait in line to withdraw it or even in different money transfer.

I still choose and considered my salary as sent to me via atm card as real money and will just withdraw it as paper money. It makes me feel more comfortable. It may possibly be adopt altcoins or btc as a payment in the future but our world is not yet ready for that.

[Tosyn2]

I don't think altcoin can be adopted to pay wages, crypto in general are volatile bitcoin can't be adopted for now. Had it been crypto is a fixed currency it would have been better means of payment.

[kicauklaten]

salary or wages in the form of altcoin I think has yet to be applied. the main reason, of course, is that many people may not interested and some countries also still forbid it. In addition of course, because altcoin owns fluctuating value.

[LeroyBro]

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

Depends on the job/salary.

For gigs/small time work, it make sense but I don't think we'll see career job salaries being paid in crypto any time soon.

[pantet]

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

Main problem in adopting altcoin as a form of salaries is that crypto is not yet adopted throughout the world and its hard for a certain person to convert his salary into cash. As we all know crypto price always fluctuates so I guess its not advisable that salary is in a form of altcoins. Our wages is of its fixed price and when it is in the form of crypto tendency is that it will lessen or if its in a high price it will probably high also and I think is better.

[alisafidel58]

Can we pay salaries and wages in shape of altcoins?

Sure you can pay your employees with alt coin depending if he/she agrees with it and must be knowledgeable on what kind of alt coin is that.

What problems can be occurred to adopt it? 

You might get a law suit from your government agency from doing this. Most countries doesnt have a law that you can pay your employees with crypto currency.

[Haunebu]

I highly doubt it. The extreme volatility of the crypto market is one of the primary reasons why this will not happen anytime soon. Bitcoin itself has not gone mainstream yet due to its volatile nature, high transaction fees etc which is why altcoins being adopted as a payment method to pay wages might happen sometime in the distant future. Coins like Litecoin, Ripple, Dash, Monero etc could possibly be adopted in this scenario due to their popularity. Whatever the case, I am not interested in altcoins being used to pay wages. Instead, I am more interested in Bitcoin going mainstream at the moment.

[manlyxman]

How many of you here would prefer to be paid through altcoins?

I imagine PayPal is just too convenient right now, despite its huge fees.

[yomikiyao]

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.

This is the difference from the legal currency. No one in the digital coin can control whether it is going up or down. For the real world people prefer to get paid by stable coins.

[A A Aziz]

Many problems to adopt altcoin as a means of payment of salary or wages. Actually it could be altcoin used for payment of wages or salaries, but it can happen if the government legalize it. In addition, the salary recipient is also not necessarily ready with the rising risk of price turunya. For example today they receive a salary, then the next day the altcoin price goes down.

[markflayer]

Many problems to adopt altcoin as a means of payment of salary or wages. Actually it could be altcoin used for payment of wages or salaries, but it can happen if the government legalize it. In addition, the salary recipient is also not necessarily ready with the rising risk of price turunya. For example today they receive a salary, then the next day the altcoin price goes down.

Yes price fluctuation is main factor in adoption.