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Author Topic: Bitcoin for salary  (Read 2250 times)
Mahanton
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November 02, 2020, 11:30:25 PM
 #221

Bitcoin is also a currency and it’s can be converted to any currency in the world. So with these understanding I don’t see any big deal with paying salaries using bitcoin.Its just to educate the employees about bitcoin and help them setup their wallet now instead of having account details the company would rather request for the wallet address of their staffs. All payment would be made through bitcoin and the staff is left with the option of trading the bitcoin or using it for other markets purpose.
If they are not interested with cryptos, it would be inconvenient for them because they will need to use exchanges in order to fully make use of their salary or if it is third party, fees will be shouldered by them, unless not. But if they prefer fiat, you don't really need to convince them, sharing your knowledge would be a good approach but you cannot do nything if interest is lacking in the first place.
It would be pointless because people wont find it appealing specially if the dont know bitcoin in the first place.Care to explain? yes you can but they would really end up
on using their own money with those fees when it comes to conversion same as you mentioned and that would be an another issue for them.Some may say that
it would be complicated and would surely reject on the idea but there are some who would welcome for such change.As we know that we cant please everybody
so it would be better if we do stick out to traditional ways and introduce bitcoin into other way.

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Zemomtum
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November 02, 2020, 11:55:02 PM
 #222

This will be an ideal situation but authorities will not want to implement such due to their bias towards BTC and other digital currencies. It is just a matter of time, things will naturally be unfolded. 

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November 03, 2020, 12:44:38 AM
 #223

Bitcoin is also a currency and it’s can be converted to any currency in the world. So with these understanding I don’t see any big deal with paying salaries using bitcoin.Its just to educate the employees about bitcoin and help them setup their wallet now instead of having account details the company would rather request for the wallet address of their staffs. All payment would be made through bitcoin and the staff is left with the option of trading the bitcoin or using it for other markets purpose.
If they are not interested with cryptos, it would be inconvenient for them because they will need to use exchanges in order to fully make use of their salary or if it is third party, fees will be shouldered by them, unless not. But if they prefer fiat, you don't really need to convince them, sharing your knowledge would be a good approach but you cannot do nything if interest is lacking in the first place.

At some point this idea i guess will go through a lot of process before it can be implemented. Though it may be possible in a country where they legally adopted bitcoin. But if there was a company which would try this as long as they were in the country which open minded for the bitcoin then i bet this was a good idea. Bitcoin were known by many but not yet considered as legally used currency. There's some other countries which didn't considered bitcoin yet.
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November 03, 2020, 03:45:04 AM
 #224

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.
Mine is directly in my bank so i convert some in crypto to stay as investment,But having a chance to receive in bitcoin ?this is a privilege that will surely adopted by me instandly.
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.
it is our company and it is our money,as long as we are paying our employees there will be no problem as for sure majority of them will convet their bitcoin to cash.

or much better offer differently ,if they wanted to be paid in Bitcoin or in cash it is their choice.

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November 03, 2020, 03:50:21 AM
 #225

Many employees for sure will be against in that kind of system because we all know that bitcoin is so unstable so it cannot be as salary for the workers and employee. There are scenarios in my mind right know what if they pay they is today and then suddenly there is a huge dump happened; of course it will really affect the bitcoin that they have and they will also incur losses. Those people for sure will always have doubts and uncertainty on what will happen to their money because of its volatility. It is good if they will pay fiat money through banks or through cash, but for me there is a high chance that a stable cryptocurrency can be use as salary for the workers and for the employees not only in government section but in whole economy.
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November 03, 2020, 04:55:50 AM
 #226

Many employees for sure will be against in that kind of system because we all know that bitcoin is so unstable so it cannot be as salary for the workers and employee.
In most cases, yeah most probably. But for me it's alright because it was a form of adoption and a bitcoin enthusiast like should feel happy about it. So before this kind of system will be applied in the whole organization, it would be better if it will be implemented first for those who have a background jn crypto or those people who are willing to be at least. Through this, it will prevent complaints coming from the sudden change.

Also, I would like to have an option. I mean, not all of my salary will be in btc (e.g. 40% btc, 60% cash). Because at the end of the day, fiat still reigns the mainstream. Converting crypto might lead you to loss of course Cheesy.
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November 03, 2020, 06:40:10 AM
 #227

I'm not really good in government things as well but wouldn't that be avoiding taxes? which the Government didn't want? since this is one way the government get their funds.
Also I was thinking not all the country accepts cryptocurrency and some countries prohibits the use of cryptocurrency.
Last thing is not all workers know how to use it or doesn't have enough knowledge about cryptocurrency, plus the volatility of the price of it.

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