Getting paid in Bitcoin vs getting paid in Fiat

[BOAEDAN]

for now most of us will definitely choose to be paid in fiat currency, because the price of fiat currency has no risk at all, and we can immediately spend our family needs, if we are paid with bitcoin it's good too, but we can't buy it right away our needs, if the price goes down again of course we will suffer losses, plus my country does not accept bitcoin in any expansion, so I prefer to be paid in fiat currency..

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[luckypenguin]

To accept payment in bitcoin or fiat is a personal choice. I used to think that it takes longer to pay in bitcoins than in fiat currencies, but after reading the article https://nsbroker.com/crypto-info/how-long-does-it-take-transfer-bitcoin-and-how-can-you-make-transactions-faster I realized that there is not much difference. The only problem you may encounter when you pay in bitcoins is volatility. The market can crash in half an hour and your thousand dollars will turn into 500. But it can also be the other way around.

[JerryKin]

For me when it comes to my salary. I'd pick fiat over Bitcoin Everytime I get a chance to. Majorly because of my immediate environment. The level of exposure to crypto is very low. hardly will you find a store that allows payment with crypto currency.

Plus the added disadvantage of the instability of the price of Bitcoin. I know it could be an advantage but I'd rather not take the risk

[Timelord2067]

I'm of two minds when it comes to getting paid in bitcoin - I'm getting paid bitcoin for the weekly posts that I do here in the forum via the freebitco.in Signature Campaign, so when it comes TAX time I have to make a spread sheet with the amount paid both in US dollars and bitcoin equivalent, then the rate of exchange to Australian Dollars and the actual exchanged amount, then tally those details up.

If I sell the bitcoin rather than spending them, I am in for capital gains tax, so it would still be the same regardless of which currency equivalent the bitcoin was paid to me in.

You may have a Taxation system that doesn't have these stipulations, you would have to check that out for yourself.

[LogitechMouse]

Which type of currency is better for paying employees? Is it Bitcoin or Fiat? Do you think we'll be able to see more jobs paying Bitcoin in the future? Or will Fiat still dominate the jobs industry? Is working for Bitcoin just like working "under the table"? Your input will be greatly appreciated. Thanks.

This is a very subjective debate or topic since not all of us will agree to just one.
Some employees might want to be paid fully in fiat. Some might want to be paid fully in Bitcoin or other coins. Some might choose to be paid half fiat and half crypto.

As for me, I would want to be paid either of the two but the problem right now is Bitcoin isn't accepted in most of the establishments until now. I'm not in an urban city right now but when I always went there, no stalls or stores are accepting Bitcoin. Bitcoin is mostly accepted online but still there are some establishments who are accepting it right not.

For me, I don't see more people that will be paid thru Bitcoin because they know the risks of it. Some of the employees are working to have money to be used in their family. What if they will be paid now and tomorrow the price of Bitcoin drops drastically?? That would be a huge problem for the employee because their buying power will be lesser compare to if they just accepted being paid with fiat. Another one is the complexity of it. There are some employees too that don't know how to use crypto or at least transfer or convert it.

After all, we have different answers to this but most will chose to be paid with fiat currency as it is still the world's most accepted currency.

[Gbniman]

For me i will rather choose Bitcoin  over fiat and I have many reasons for that.
A Bitcoin transaction cannot be reversed, cancelled or charged back, while
Fiat money has attributed value because a government declares it legal tender - it has no intrinsic value.
And While fiat money seems to get a major part of its value from debt, this is not the case with Bitcoin. Bitcoin has intrinsic value beyond the trust of its community. Bitcoin doesn’t lean on a system of debts, its value boils down to how effective it is as a medium of exchange.

Bitcoin might also seem good because The system behind Bitcoin is completely transparent and based on maths and the actual consensus of the everyday user. Keeping all this in mind, which is a better option for our future.
Actually but seem fine to have as a payment.
But on my on side i will like to have payment with Bitcoin.

[nightxglow]

I guess there's no better one, since it's all depends on the person, based on their own perspective. People who involved in cryptocurrency might want to get paid in bitcoin, since they know its value, how to manage or use it, and such. However, those who are not familiar with bitcoin might not want to be paid in bitcoin and prefer fiat instead. They will not understand bitcoin, and think why should they get paid in bitcoin. It'll be a lot dangerous too if after the company paid certain amount of bitcoin, then bitcoin price fell, those people will have the amount of money less than they should have, and since they don't understand they'll come out for protest. Both are fine and work well for the one who like them, each of them has their own advantages and disadvantages, but if the price of bitcoin is in bearish situation or trend, maybe I'll prefer to be paid with fiat instead of btc, and vice versa.

[geegaw]

I guess there's no better one, since it's all depends on the person, based on their own perspective. People who involved in cryptocurrency might want to get paid in bitcoin, since they know its value, how to manage or use it, and such. However, those who are not familiar with bitcoin might not want to be paid in bitcoin and prefer fiat instead. They will not understand bitcoin, and think why should they get paid in bitcoin. It'll be a lot dangerous too if after the company paid certain amount of bitcoin, then bitcoin price fell, those people will have the amount of money less than they should have, and since they don't understand they'll come out for protest. Both are fine and work well for the one who like them, each of them has their own advantages and disadvantages, but if the price of bitcoin is in bearish situation or trend, maybe I'll prefer to be paid with fiat instead of btc, and vice versa.

You only think about your personal ambitions while it is a fact that many of us do not fully recognize and want to bring bitcoin into payment and receive a payment in bitcoin, although we may know the value as well as the ways to make this product most useful to us but the ferocity of bitcoin still scares us, an unfamiliar person is afraid of new things, a person who is used to is afraid of the hidden doors behind this investment. Fiat is still the club that gets the most votes for payments, bitcoin only gets propaganda but less votes

[Slow death]

I guess there's no better one, since it's all depends on the person, based on their own perspective.

i think the thing is not that simple, if i'm not wrong all countries in the world there are laws that oblige people to receive wages in local currency issued by the government, there are also issues related to life pension payments where a percentage is deducted of the person's salary every month. these bureaucracies can prevent a company or someone private from paying wages to its worker in bitcoin. I've heard some stories of people who get paid in bitcoin, but it seems to me that it's something restricted to internet stuff and the government doesn't know about it.

People who involved in cryptocurrency might want to get paid in bitcoin, since they know its value, how to manage or use it, and such.

truth. but it won't be something formal, I mean it won't be a verified contract in some government institution between the employee and the employer where it states that the employer can pay salary in bitcoin to the employee

However, those who are not familiar with bitcoin might not want to be paid in bitcoin and prefer fiat instead. They will not understand bitcoin, and think why should they get paid in bitcoin. It'll be a lot dangerous too if after the company paid certain amount of bitcoin, then bitcoin price fell, those people will have the amount of money less than they should have, and since they don't understand they'll come out for protest.

I believe that even people who were paid in bitcoin and then the price of bitcoin dropped a lot they will protest

[qwertyup23]

Which type of currency is better for paying employees? Is it Bitcoin or Fiat? Do you think we'll be able to see more jobs paying Bitcoin in the future? Or will Fiat still dominate the jobs industry? Is working for Bitcoin just like working "under the table"? Your input will be greatly appreciated. Thanks.

The only way that I see from this happening is when the world accepts bitcoin as a form of 'legal tender' which can be paid as salary to the employees.

Currently in the Philippines, any form of money that is NOT considered legal tender cannot be paid as a form of salary. Thus, only fiat or cheques are allowed by law. But, if the employee consents to the company, then the latter has the discretion to do so. Personally, I would choose (if possible) to have my salary paid in 70% fiat and 30% in BTC so I could utilize it as a form of investment.

[JohnBitCo]

I guess there's no better one, since it's all depends on the person, based on their own perspective.

i think the thing is not that simple, if i'm not wrong all countries in the world there are laws that oblige people to receive wages in local currency issued by the government, there are also issues related to life pension payments where a percentage is deducted of the person's salary every month. these bureaucracies can prevent a company or someone private from paying wages to its worker in bitcoin. I've heard some stories of people who get paid in bitcoin, but it seems to me that it's something restricted to internet stuff and the government doesn't know about it.

People who involved in cryptocurrency might want to get paid in bitcoin, since they know its value, how to manage or use it, and such.

truth. but it won't be something formal, I mean it won't be a verified contract in some government institution between the employee and the employer where it states that the employer can pay salary in bitcoin to the employee

However, those who are not familiar with bitcoin might not want to be paid in bitcoin and prefer fiat instead. They will not understand bitcoin, and think why should they get paid in bitcoin. It'll be a lot dangerous too if after the company paid certain amount of bitcoin, then bitcoin price fell, those people will have the amount of money less than they should have, and since they don't understand they'll come out for protest.

I believe that even people who were paid in bitcoin and then the price of bitcoin dropped a lot they will protest

They should not protest because those who opted for Bitcoin payment should know that Bitcoin is not a stable currency and it goes up and down more frequently than the fiat currency.

Also in the long run getting paid in Bitcoin is more feasible because we know that bitcoin always increase in value over the years.

[rincoeng1986]

In the beginning i always choose fiat over getting paid in bitcoin because i thought fiat is the main money and for every thing needed to be done we need fiat. but with time there is almost every thing we can do in bitcoin like buying stuff , gambling , trading and in a faster way. So now i prefer to get paid in bitcoins.

The problem with paying employee salaries must be seen from the previous contractual ties, if employees as elite or high-level employees may be able to receive payments in bitcoin. but if their employees are with low status, maybe they don't need to be paid with bitcoin because they need money to spend and don't like to invest.

[worldofcoins]

From my own experience and from what I believe I think paying in bitcoin will be better and I believe in future the payment method will change from fiat to bitcoin because I believe more companies are beginning to accept bitcoin as there payment method so I believe with time they will also start paying there staffs with bitcoin which will be very nice.

For those who have transacted fiat and bitcoin, of course they feel very different, bitcoin is better in many ways, speed, no errors, and of course very safe even though sending or receiving with large amounts, hopefully Amazon will be a pioneer of e-commerce transaction systems so that it makes bitcoin is increasingly being used.

The feeling of accepting crypto will become a norm after some payments and people will actually prefer it over cash once everything in the market can be bought with cryptos.
Why would someone accept payment in their bank account and pay 15% taxes when you can spend the whole amount you earn.

[Imran232]

..........

Not only salary sir the most popular work on online which is freelancing. Lots of freelancer got offered to take their payment as a crypto currency. Though my country dosen't give any permission to use bitcoin. My friends who is a freelancer 3d model designer. Recently he had work with a car company after that the buyer give him a offer that can you take your payment in crypto. But the saddest part my friends aren't interested on bitcoin because he is only working with their work. Then he knock me i give him my address the buyer send me money then i creat a account for him and give his money to his account. He was paid $3k but he didn't now his $3k is $3.7k. He is happy and now he thought to invest a little in bitcoin from his every income from freelancing not full amount only 10% from each account. He shares another thing that though crypto enter in freelancer too so if government didn't support bitcoin then lots if freelancer won't get currage fo take bitcoin and that causes they might loose clint.


So in this history if you ask me i always choose crypto. What i suggested my friends too.

[Golftech]

From my own experience and from what I believe I think paying in bitcoin will be better and I believe in future the payment method will change from fiat to bitcoin because I believe more companies are beginning to accept bitcoin as there payment method so I believe with time they will also start paying there staffs with bitcoin which will be very nice.

For those who have transacted fiat and bitcoin, of course they feel very different, bitcoin is better in many ways, speed, no errors, and of course very safe even though sending or receiving with large amounts, hopefully Amazon will be a pioneer of e-commerce transaction systems so that it makes bitcoin is increasingly being used.

The feeling of accepting crypto will become a norm after some payments and people will actually prefer it over cash once everything in the market can be bought with cryptos.
Why would someone accept payment in their bank account and pay 15% taxes when you can spend the whole amount you earn.

That if more businesses includes Bitcoin as payment process, I see your point and I will also love recievng my payments using

bitcoin as I have full control once it's been verified inside my wallet. Ang the fact that the value have chance to increase, I can

use portion of it for my saving/investment.

[ik5656]

Bitcoin is intended to offer clients an exceptional arrangement of benefits over other installment strategies. We'll investigate those beneath, yet before we do, it is valuable to investigate what Bitcoin, the digital money, really is. By understanding Bitcoin's plan standards, it will be simpler to see the upsides of utilizing Bitcoin for installments. Traditional fiat monetary forms are dependent upon various limitations and dangers. For instance, banks are helpless against win and fail cycles in the economy. Some of the time, these circumstances can end in bank runs and crashes, as has happened various occasions before. This implies that clients are not actually in charge of their cash. Hypothetically, at any rate, bitcoin guarantees client self-governance since its cost isn't connected to explicit government strategies. This implies that clients and proprietors of the digital currency are in charge of their cash.

[Janation]

Which type of currency is better for paying employees? Is it Bitcoin or Fiat?

This depends on these employees.

From what I can see here in our country, people needed money they can use during these lockdowns. Most of them will accept Bitcoin as a salary but if they do, for sure they will just be holding it. Most of those that will turn that down needed money quickly and I don't think they are naive or stupid but because they will obviously pick the ones that people would easily use and easily accept.

Do you think we'll be able to see more jobs paying Bitcoin in the future? Or will Fiat still dominate the jobs industry?

In the past, I thought that we will be seeing that but right now, I think Bitcoin will stay as an investment, an asset that people will be holding.

We might use its value to pay for services or to buy something online but I don't think it will be that used that it will be dominating the said industry. It will stay where it is right now since it is much better there.

Is working for Bitcoin just like working "under the table"?

I don't think so. We are not in those times that using Bitcoin means that we are transacting on the dark web. Those times are so in the past. Working for Bitcoin is not working "under the table", it is working while envisioning what can it do in the future. Those workers know the value of Bitcoin in the future, they know how big it is even now.