Bitcoin for salary

[Timelord2067]

A few people here are over-analising being paid in BitCoin.  Say your wages are $ 1,000 and you end up with in the hand $ 850 - that amount is translated into BTC (less a nominal transaction fee) - Regardless of the price rising or falling, you were paid $ 850 in bitcoin, so that's what you were paid... $ 850.

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[Betwrong]

A few people here are over-analising being paid in BitCoin.  Say your wages are $ 1,000 and you end up with in the hand $ 850 - that amount is translated into BTC (less a nominal transaction fee) - Regardless of the price rising or falling, you were paid $ 850 in bitcoin, so that's what you were paid... $ 850.

I feel like it can be valuable information, but I don't get what you mean, tbh. Why someone is receiving $850 instead of $1,000? You don't mean that transaction fee can be $150 today, right? So, what happens with $150 then? Or do you mean income taxes on wages?

Also, most people don't care about the purchasing power of their salary at the time of payment. They want it to be stable, for several months, at least, for their convenience. People don't want to gamble with their salary.

[grabpopcorn536]

Salary in bitcoin should be a deal of responsibility since bitcoin has great volatility over a short period, which is not suitable for someone who doesn't understand bitcoin.
When bitcoin increases in price your employees may be happy, but if bitcoin falls in price after you pay them, they will curse you. Be careful with your plan.

[Dewi89]

Not all salary payments using bitcoin are accepted for all employees because they have no knowledge of bitcoin, unless they work for a crypto company and already have an agreement with the company to receive their salary using bitcoin.

[Alert31]

I think bitcoin is not included in the law to become a salary for employee. IF it is accepted by the government then employer can pay their workers with bitcoin. Although bitcoin is volatile ,i prefer to accept my salary in bitcoin because if ever the value of it will increase i can make profit more than my salary.

[isaac_clarke22]

~

One country I know that legalized the usage of Bitcoin to pay employees salary is NZ.
Although I am not entirely sure if there are specific companies paying their employees with any crypto coins of any sort, but due to its volatile nature, I doubt that people that just recently heard about it would allow it.
I wouldn't mind getting paid in that any day.

[Axelseseclevz]

Bitcoin for salary has a   disadvantages and advantages . We all know that bitcoin is volatile and receiving a fixed salary through bitcoin can give you more profit or either it will decrease your salary amount. Also Government laws still not including bitcoin as a salary for employee.

[iyamoxjhian]

I dont think so as it will stop the regulations of local currency that was supported by the government.

[achach]

I wouldn't mind getting paid in bitcoins. It would make my life a little easier. But only if I could make all purchases using a crypto card.

[noorammak]

First, you need to find out if bitcoins are legally used in your country.
If not, don't even think about paying employees in Bitcoin.
If your country accepts bitcoin, then you should create an agreement with your receiver and declare a disclaimer of the bitcoin price increase and decrease.

[TIDOVEE]

That would be a good idea only if all you workers are cryptocurrency literate or if it an ICT organization,and to get this all the staff must be surely oriented to agree willingly to accept that means of payment so you won't find yourself to blame incase of any complications but I will suggest you keep on receiving your salary the way it has been coming while you may convert yours into cryptocurrency.

[carlisle1]

That would be a good idea only if all you workers are cryptocurrency literate or if it an ICT organization,and to get this all the staff must be surely oriented to agree willingly to accept that means of payment so you won't find yourself to blame incase of any complications but I will suggest you keep on receiving your salary the way it has been coming while you may convert yours into cryptocurrency.

They don't have to be literate because you as employer will Let them learn about crypto and tell them the advantage and disadvantage of this currency.

In that are they will be accepting Bitcoin and also will use Bitcoin.

THis is a win win situation since we wanted to explore the use and knowledge about Bitcoin and also cryptos.

[Cryptoreflector_666]

I don't have lot knowledge about different things about legalities or some government things.

I am become curious about paying an employee using Bitcoin direct to it's Bitcoin wallet.
Like these days, some of our salary are paid in different method, some are being deposit on some bank accounts, some are cheque, some are cash directly.

I want to ask if we will make official method for paying our employees in Bitcoin directly to their Bitcoin wallet.
Is this method is not foul on the government? Or it is legal?
Especially on the department of government that is about the labor or employment.

I think that this is not a problem especially in more developed and progressive countries. For example, such as Germany or England. In countries where bitcoin is currently not legalized and banned from circulation, it will be more difficult to do this, since there bitcoin does not have legal force, and labor remuneration always implies bureaucratic costs.

[Ayiranorea]

~

One country I know that legalized the usage of Bitcoin to pay employees salary is NZ.
Although I am not entirely sure if there are specific companies paying their employees with any crypto coins of any sort, but due to its volatile nature, I doubt that people that just recently heard about it would allow it.
I wouldn't mind getting paid in that any day.

Last year the tax authorities of New Zealand legalized the usage of bitcoin for paying the employees. This is being given to the employees directly under the management. It is calculated to generate good revenue as tax calculation on cryptocurrency were recorded by the firm. People have found it to be advantageous as well as disadvantageous. This is upon its hard price fluctuation, creating a difference in the value received on fluctuation affects the user.

[cheezcarls]

There are some reasons why an employee may request his or her boss or company to pay in Bitcoin:

1. Mass adoption and awareness
2. Chances that BTC may rise it's value (but also lose value) and he or she should understand these risks
3. Easier way of receiving payments than just payslips or bank deposits

Right now, my salary is in Bitcoin, Ethereum or USDT and got no problem whatsoever. As long our country legalizes Bitcoin as mode of payment, there would be no problem for clients or companies to pay their employees with cryptocurrencies.

[jpnl0005]

Its not a bad idea if one chooses to receive his or her salary in Bitcoin but it also depends on the laws of the state or country it's disadvantages will be those who are not acquainted with the system it brings alot of issues ... But will love to receive my salary in Bitcoin although its not an adopted system in my country

[Ryker1]

There are some reasons why an employee may request his or her boss or company to pay in Bitcoin:

1. Mass adoption and awareness
2. Chances that BTC may rise it's value (but also lose value) and he or she should understand these risks
3. Easier way of receiving payments than just payslips or bank deposits

Well, you have a good point on this. If the employees will adopt bitcoin or other cryptos as a mode of payment on their salary, --will definitely good.
The mentioned above was right, perhaps it will only take only a half-hour upon distributing the salary will immediately on their wallet. Not just like using payroll to pay their employee will perhaps consume almost 1 day processing the salary per month. However, you will also give an attention the disadvantages upon using and accumulating bitcoin.

[Timelord2067]

A few people here are over-analising being paid in BitCoin.  Say your wages are $ 1,000 and you end up with in the hand $ 850 - that amount is translated into BTC (less a nominal transaction fee) - Regardless of the price rising or falling, you were paid $ 850 in bitcoin, so that's what you were paid... $ 850.

I feel like it can be valuable information, but I don't get what you mean, tbh. Why someone is receiving $850 instead of $1,000? You don't mean that transaction fee can be $150 today, right? So, what happens with $150 then? Or do you mean income taxes on wages?

TAXES - I was meaning taxes.

Also, most people don't care about the purchasing power of their salary at the time of payment. They want it to be stable, for several months, at least, for their convenience. People don't want to gamble with their salary.

The one real problem being paid in bitcoin has at the moment is the volatile nature of the price Vs the dollar.  It's comparable to the great depression.  You would work till noon, get paid, go out and buy *anything* work the rest of the day get paid again and what you were paid would have less buying power, so you again go out and buy with what little money you made.  You end up not saving any funds and can't afford to buy anything more than essentials: Bread / Milk / tea/coffee...

[Litzki1990]

Well about your question Ill think it will need time to discuss from a government if they are allowed the payment will be bitcoin. So many process to make to be acceptable because we are having used to our salary is using cash or transfer in our bank account and cheque. And actually that was a good Idea for us doing in cryptocurrency but the other people has not familiar about bitcoin maybe they are against on it.

[lepbagong]

I don't understand how what is standard and is already running well, the system wants to be changed just because it accommodates bitcoin. I don't think it makes sense that it makes it even harder for them to exchange them when they want to shop because we know that not all of them can accept bitcoins.