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Author Topic: Bitcoin and Unemployed Teens  (Read 2910 times)
kiba
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April 03, 2011, 05:12:08 PM
 #1

A mises.org blog post called to my attention the unemployment rate of teenagers.

http://blog.mises.org/16222/set-kids-free-to-work/

In 2000, 34 percents of boys are employed. Now in 2010, 14 to 15 percents of boys are employed. Same trend for girls as well.

However, old people employment rate went up. Back in 2000, 29 percents of men aged 60 to 69 are employed. In 2010, it's 34 percents of men are holding a job.

That's pretty bad for kids. They have less and less job experience. They will probably go to college with a loan and will have no job experience whatsoever too. We have structural problems in our economy as requirement tighten. (need college degrees and stuff)


So guys, with bitcoin, teenagers can work unregulated and unscrutinized by the law. They will gain experience necessary to succeed in the job market. If they're good, nobody will be the wiser and will pay them lot of  bitcoin.

The only question is how we reach them and expand our job market?

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Gavin Andresen
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April 03, 2011, 11:31:45 PM
 #2

The only question is how we reach them and expand our job market?

That's not the ONLY question.  A question I've been thinking a lot about is what are an employer's potential liabilities if they are caught paying employees in bitcoins "under the table."

I honestly don't know the answer if the employer is in Finland and the employee is in Ecuador, and suspect the answer might depend on whether or not the person doing the work is considered an independent contractor or an employee.

How often do you get the chance to work on a potentially world-changing project?
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April 03, 2011, 11:51:42 PM
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It's hard to hold an employer liable if he's anonymous.
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April 03, 2011, 11:55:57 PM
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It's hard to hold an employer liable if he's anonymous.
Seconded. Anonymity isn't even required. The obscurity of telecommutable jobs is enough protection on its own.
kiba
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April 03, 2011, 11:56:54 PM
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That's not the ONLY question.  A question I've been thinking a lot about is what are an employer's potential liabilities if they are caught paying employees in bitcoins "under the table."


I pay people 5 BTC per article. Is that illegal?

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April 04, 2011, 12:08:51 AM
 #6

Who knows? Maybe you should just... give them 5 bitcoins, instead of 'paying' them.
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April 04, 2011, 12:11:02 AM
 #7

All minimum wage does is eliminate jobs that can be valued less than $8/hour. It basically makes it illegal for me to collect aluminum cans or scrape gun off the sidewalk for a fair wage from an employer.
kiba
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April 04, 2011, 12:12:22 AM
 #8

All minimum wage does is eliminate jobs that can be valued less than $8/hour. It basically makes it illegal for me to collect aluminum cans or scrape gun off the sidewalk for a fair wage from an employer.

Which could lead to unemployment problems in the economy.

barbarousrelic
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April 04, 2011, 12:30:56 AM
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Bitcoin does not make it easier to get around employment laws than the already available option of paying in cash. The problem is that most employers don't want to break employment laws.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
kiba
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April 04, 2011, 12:32:29 AM
 #10

Bitcoin does not make it easier to get around employment laws than the already available option of paying in cash. The problem is that most employers don't want to break employment laws.

Will we be demonized for offering teenagers employment?  Cheesy

barbarousrelic
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April 04, 2011, 12:39:16 AM
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Bitcoin does not make it easier to get around employment laws than the already available option of paying in cash. The problem is that most employers don't want to break employment laws.

Will we be demonized for offering teenagers employment?  Cheesy
Who is "we" and who are you thinking will "demonize" you?

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
kiba
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April 04, 2011, 12:40:03 AM
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Who is "we" and who are you thinking will "demonize" you?

The media will demonize the bitcoin community for employing teenagers?

barbarousrelic
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April 04, 2011, 12:41:41 AM
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Who is "we" and who are you thinking will "demonize" you?

The media will demonize the bitcoin community for employing teenagers?
If the bitcoin community is breaking employment laws and child labor laws, then yes, they will probably be shown in a bad light by the media.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
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April 04, 2011, 12:46:13 AM
 #14

Well, I don't know how the media is going to portray little Johnny working under slave labor, while he's just coding at home on the PC for a check in the mail.

"Little Johnny, like most boys his age, would be usually at mindless play and doing his state-mandated homework. Oh, but no. Due to some evil forces over the internet, he has been forced to code at absurd rates."
kiba
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April 04, 2011, 12:46:45 AM
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Well, I don't know how the media is going to portray little Johnny working under slave labor, while he's just coding at home on the PC for a check in the mail.

"Little Johnny, like most boys his age, would be usually at mindless play and doing his state-mandated homework. Oh, but no. Due to some evil forces over the media have forced Johnny to code at absurd rates."

ROFL.  Grin

barbarousrelic
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April 04, 2011, 12:47:52 AM
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Well, I don't know how the media is going to portray little Johnny working under slave labor, while he's just coding at home on the PC for a check in the mail.

You must not watch much TV. That would not be a hard angle for them to run with at all.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
Anonymous
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April 04, 2011, 12:50:31 AM
 #17

Well, I don't know how the media is going to portray little Johnny working under slave labor, while he's just coding at home on the PC for a check in the mail.

You must not watch much TV.
I don't. Heh.
ryepdx
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April 04, 2011, 02:01:46 AM
 #18

Yeah. This would be considered exploitation by the media and the population at large. Paying anyone less than minimum wage is generally frowned upon. Paying in bitcoins would probably be fine though, as long as they were presented in a sober and accurate manner to the people being hired. None of that "one bitcoin will be worth more than a share of Berkshire-Hathaway one day" nonsense. Otherwise you run the risk of being accused of lying to and exploiting teenagers.
maurice
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April 04, 2011, 03:04:36 PM
 #19

In the UK I believe you must pay your employees their wages in sterling. If someone is contracting then that is a different matter.

1GsuL5z5yrLnxbcQ3kHBqWTjdpn43kdyXB
mjsbuddha
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April 04, 2011, 03:33:14 PM
 #20

hire them as "volunteers" then give them BTC like some non profits give their volunteers snack. its not money, its digital goods.
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