Employees can get salary in Bitcoin in Miami

[Rishabh riyz]

This all may seem nice but if we think about it ,
 what would the employs be getting paid in , in terms of BTC or in there pay scale
I mean that if they would pay in terms of BTC then due to fluctuation in BTC value  people may feel somewhat insecure about their earnings , what if the value goes down then they may face financial difficulties since BTC isn't a mainstream  mode of payment not everyone would accept it, and unlike BTC everything else in the store have fixed price that we need for daily use.
and if they pay in terms of local currencies then also , some companies might pay their employs  when BTC is high so as to pay less quantity of BTC and employs yet again might face financial problems.
paying BTC as a made of payment is good and holding BTC as an asset is excellent but giving BTC as salary might face problems attest until BTC is legal and acceptable by major public.

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[YOSHIE]

What are your thoughts about this?

I just saw this news and i envy the Miami government, i wonder when will the government in my country do the same thing as the Miami government do.

Indeed Miami has had a lot of positive news about Bitcoin being made the main asset in payment for the community, I hope what the Miami government is doing, be a positive reference for the governments of other countries, that Bitcoin can be counted on to be the main asset in the payment of every government employee's salary.

[fiulpro]

Now this indeed an actually good news , the right way to incorporate the adoption of bitcoins in the society , the good thing is that the government itself is the one thinking of doing such things. I do think there would be benefits like :
1. Adoption on a mass scale
2. Educating people about it
3. Possibility of learning a way to handle cryptocurrencies
4. People don't have to worry about Volatility since they can either encash at the moment or they can save for the time being
5. They will have more options , the salary can be converted into more types of currencies

Personally I had my doubts before , I was paid in crypto for my first signature campaign and I was worried that this would definably mess up due to high Volatility but it's been years. I have been continuously working with the campaigns , this doesn't only help me save up but I can make international transactions very easily.

[Ucy]

Well, as long as the move mutually benefits both currency (Bitcoin & USD). Maybe they could do that on a platform with both Bitcoin and US (or US backed Stablecoin).
By the way, Bitcoin could get maximum of 40% of the salary while USD get the rest. Getting paid in Bitcoin shouldn't negatively affect the other currency especially as people depend on the currency.

[serjent05]

What are your thoughts about this?

If Bitcoin will be used as salary payment for employees I think this will be a huge break for Bitcoin.  Not only the plan will create a huge demand for the market, but it will also enable a true mass adoption since every normal employee will have a grasp of Bitcoin and be able to transact with it.  I hope Miami will sort this plan as soon as possible and start paying their employee in BTC.  It only needs one for others to follow and hopefully, this plan of Miami will be the start.

[AverageGlabella]

What are your thoughts about this?

This case is not something revolutionary and new, a few years ago we could read similar news that some companies allow their workers to get part of the salary in BTC. At the end of 2017, a Japanese company announced that it would give the possibility of paying salaries to its employees in BTC. Of course, there is always a problem with the price of BTC, which is very volatile, so every employee can find himself in an awkward situation when BTC loses, say, 20% or more of its value overnight - but again, it can profit if the opposite happens.

This is a little different you are right that there has been many times that a company has delivered the salaries of employees but this looks like the state of Miami are making the move and greenlighting it rather than the companies in Miami. This could bring better opportunities to that state just because it will invite those that want to get paid in Bitcoin which might just bring in more qualified people because Bitcoin is still probably labelled as a technical profession and therefore it has a higher amount of technically skilled people than the average currency does. Not only that it might bring better tax implications in the future. Where I live Bitcoin taxation can be difficult to understand because of the amount of misinformation that is being circulated but if Miami are accepting it on a state level that might mean that Miami because a more friendly state to Bitcoin overall. This might go the opposite way too and they might imply more extreme taxation on salaries which are being paid in Bitcoin which could hurt the image of Bitcoin overall and get it labelled as a currency which not only has more expensive fees but more expensive taxation associated with it.

This is in theory but this is different compared to the past where companies have been giving the option to get paid in Bitcoin which didn't have the opportunities that this announcement could bring in the future.

[0t3p0t]

All thanks to Francis Suarez. Probably the coolest mayor I've ever heard of and the first mayor or politician of any country or state that I actually follow on social media.

Take a look at his Twitter account, it's filled with bitcoin and crypto stuff: https://twitter.com/FrancisSuarez

It is made possible if someone like Francis Suarez will back it up all the way until it was implemented so I think that was a really smart move for Miami City to pay employees with Bitcoin but still follow the rules and regulations provided by the Miami authorities or their central bank. Convenience is really one of many factors affecting the acceptance of crypto payments most especially in this time of pandemic.

[Casdinyard]

As the world is now witnessing the rise of Bitcoin in both terms growth and price many big institutions and government are recognising the need of Bitcoin and other cryptocurrencies in their system.The Miami mayor Francis  Suarez said that Miami city employees could soon choose to get paid in Bitcoin rather than in USD as salary because he wants to expand the Bitcoin adoption throughout the city.

Crypto enthusiast and experts like CEO of twitter Jack Dorsey are calling it a smart move as they what impact it will have on growth of Miami city:



The persons, institutions, governments with wide prespective who know what financial payment system will work in future are already making rules and regulations to adopt Bitcoin and cryptocurrencies along with blockchain technology to stay ahead in future with economic becoming strong of nation.

Cointelegraph

What are your thoughts about this?

Goodnews indeed. But that might be because the company itself is well aware of its potential and is into such technology unlike the other businesses who are in doubt with the advantages of using cryptos as mode of payment. What's best is that, this company is not forcing its employees to do so, meaning, they have options not to if they are not really into cryptos. Hoping that someday, more companies will be doing such thing. I would prefer this as an alternative if I would be an employee to a etablishment making such offer, because this will also show care to their employees, giving hints of possibilities to make their money grow.

[irixo10]

This is good and encouraging as it shows that Bitcoin is growing and breaking barriers, and for the Mayor of Miami to consider such means soon others will start asking questions and probably knowing more about Bitcoin because doing such also means more publicity for Bitcoin. Also, to make it more interesting, he didn't impose but rather gave them an option, an option that will make them to learn more about Bitcoin and even though they might not buy the idea at the onset, but gradually they will. Furthermore, this year is already looking good and we will succeed in seeing Bitcoin reach new heights because it obvious the world is waking up and seeing it neccessary to adopt Bitcoin; people who really understands good advancements like that of Bitcoin are paying attention and casting their support the best way they can, Mayor of Miami is a good example.

[shield132]

What are your thoughts about this?

This case is not something revolutionary and new, a few years ago we could read similar news that some companies allow their workers to get part of the salary in BTC. At the end of 2017, a Japanese company announced that it would give the possibility of paying salaries to its employees in BTC. Of course, there is always a problem with the price of BTC, which is very volatile, so every employee can find himself in an awkward situation when BTC loses, say, 20% or more of its value overnight - but again, it can profit if the opposite happens.

Since this is a  free will, there is nothing wrong with it. I think employee should realize what he wants to do with his funds and think twice why he wants to receive funds in bitcoin and how he is going to manage those funds. For example, if someone has Crypto.com's card or Coinbase or others, they can receive their salary in those accounts, spend crypto without high fees and get rewards for spending. I think this is very nice.

Btw this is a great news. You know, one action is always followed by another and this kind of step is a signal that in near future adoption will dramatically increase.

[mezzaluna]

In which state did this become possible? There are a lot of Miami Cities around different states but I'm thinking about Florida for this one since there is a great number of business districts within that state and it is possible for them to really do this kind of thing since they want to advance their lifestyle within their place of living. Its also another great example which different states can follow and then might caught the eye of Central Government which would now be a way for them to research about it and utilize it in a way that would benefit a lot of users and new people learning it.

[KryptoKings]

As the world is now witnessing the rise of Bitcoin in both terms growth and price many big institutions and government are recognising the need of Bitcoin and other cryptocurrencies in their system.The Miami mayor Francis  Suarez said that Miami city employees could soon choose to get paid in Bitcoin rather than in USD as salary because he wants to expand the Bitcoin adoption throughout the city.

Crypto enthusiast and experts like CEO of twitter Jack Dorsey are calling it a smart move as they what impact it will have on growth of Miami city:



The persons, institutions, governments with wide prespective who know what financial payment system will work in future are already making rules and regulations to adopt Bitcoin and cryptocurrencies along with blockchain technology to stay ahead in future with economic becoming strong of nation.

Cointelegraph

What are your thoughts about this?

This is just amazing. I wish I was living in Miami or working there. I hope other countries will take a leaf out of Miami's book and start doing this.
BTC is soon going to become world currency.

[pixie85]

The topic is misleading. They are considering it which doesn't mean you can get a salary in bitcoin.
Don't get too excited people!

It's a great idea.
There will be an opposition from people who think investing is gambling and they will surely treat this like these people are betting if their salary will be higher or lower next month. I hope the government is smart enough to ignore this and proceed with the plan.

[FlightyPouch]

So glad that there are a lot of people that are supporting bitcoin and would such lengths for people to recognize the great innovation that bitcoin could bring. Based on the articles it is not just bitcoin but there are some of the crypto currencies as well. I never thought that Miami would be a haven for bitcoin and crypto currency as a whole.

[Twentyonepaylots]

To know that more and more people are slowly accepting cryptocurrencies in theur daily lives goes to show that the global adoption we are all waiting for may come sooner than expected. People are now seeing the wonders of cryptocurrencies and how useful it is to the society, now we just have to see how this would pan out in the long run.

Props to the mayor too, he definitely made a great choice as this doesn't only allows his employees to know more about cryptocurrencies, it also jumpstart their investment journey.

But how many would want to? I do not think so.

Every revolutionary idea receives skepticism, so it's no wonder people may retaliate from this but as time goes by, and as soon as this is passed, it's gonna go uphill from then on.

[CarnagexD]

The topic is misleading. They are considering it which doesn't mean you can get a salary in bitcoin.
Don't get too excited people!

It's a great idea.
There will be an opposition from people who think investing is gambling and they will surely treat this like these people are betting if their salary will be higher or lower next month. I hope the government is smart enough to ignore this and proceed with the plan.

You said it yourself, the thought alone that one can get salaries in BTC can simply excite a common supporter of bitcoin like us, and since this should get positive feedback, the passing of this ordinance should be a quick and painless process. Plus if the mayor made sure thst this is only for those who are willing, this will boost up people's opinion on bitcoin and would accept it as time goes by.

[Viscore]

So glad that there are a lot of people that are supporting bitcoin and would such lengths for people to recognize the great innovation that bitcoin could bring. Based on the articles it is not just bitcoin but there are some of the crypto currencies as well. I never thought that Miami would be a haven for bitcoin and crypto currency as a whole.

Indeed, a lot of people are into crypto day by day knowing that this could be more helpful easier to use than fiat money. Well, that Miami giving a way that other states in the US will do the same and fully adopt Bitcoin.
What happens now gives some insights that we are moving into a new generation, it is so much grateful that one city has started already.
I was thinking also if someday I'll be receiving some BTC from my employer

It is somehow we will be expecting more good news to come in crypto adoption. We are heading for better and more adoption. Can't be happening just a day, will wait years to see these things compiled.

[Shasha80]

It is increasingly seen that The Miami major Francis Suarez is a Bitcoin enthusiast, because his policy as Miami major has always supported Bitcoin.
Prior to major Francis Suarez planned to use public funds to invest in Bitcoin. It is now even possible for employees to get payrolls via Bitcoin in Miami.
I am very happy if in my country there is a major who dares to do the same, by creating policies regarding salary payments with Bitcoin. So it's no
wonder what major Francis Suarez planned to get a lot of praise from Bitcoin supporters.

[AniviaBtc]

Hoping that most of the countries should adopt this because instead of fiat, some people prefers to have bitcoin as their salary.

Employees who are familiar with bitcoin or who are also an investor of bitcoin will surely work harder when they know that their company is using bitcoin as their salary.

If this financial payment system will be implemented in most of the businesses or companies then it is really true that bitcoin is our future.

[davis196]

This is good news,however getting salaries in BTC won't be mandatory and the employees will have a choice.
I wonder how many of the employees will choose to be paid in BTC?Not that much,if you ask me.Probably lees than 10%.The rest of them probably don't want to deal with Bitcoin price volatility,having a BTC wallet and selling BTC to fiat,storing private keys and etc.
This is a step in the right direction,but I don't expect mass BTC adoption to happen overnight and I don't expect the majority of the people to embrace Bitcoin with arms wide open.