Brazilian Congressman proposes Crypto Payment for workers

[TinaK]

Though it's a little bit questionable if their workers would love to accept as a payment or as a salary then that would be fine. Maybe also I'm thinking that their people are already aware of crypto and that's why it's okay for them to accept cryptocurrency. But on crypto enthusiasts, this has a big impact on us and we must be thankful to this congressman that could possibly another people who are in the political position will follow to the steps like what this congressman did and I think kudos for him that he understand the crypto world.

[batang_bitcoin]

In my country, I think the minds of my countrymen are starting to be open about cryptocurrencies. As they look at the price of bitcoin, everyone wants to own even the least that they can with bitcoin. We're a free and good country towards cryptocurrencies and I don't think that there's a need to pass any bill since it will just make things complicated upon being noticed that there's so much transactions happening in the network and, they might think that there's a need to increase taxation to it. Although if I'm working for a company, it's a good option if you can choose to get paid in fiat or bitcoin.

[Botnake]

In my country, I think the minds of my countrymen are starting to be open about cryptocurrencies. As they look at the price of bitcoin, everyone wants to own even the least that they can with bitcoin. We're a free and good country towards cryptocurrencies and I don't think that there's a need to pass any bill since it will just make things complicated upon being noticed that there's so much transactions happening in the network and, they might think that there's a need to increase taxation to it. Although if I'm working for a company, it's a good option if you can choose to get paid in fiat or bitcoin.

Once a congressman proposes a bill for crypto payments, does it mean that the next thing they will propose is to make bitcoin as a legal currency? Because it seems so useless if people will receive their salary in bitcoin and yet, it can't be use to purchase basic goods and services. Because if bitcoin remains not adopted by its own government, then i think only for those who know bitcoin well will certainly agree to accept bitcoin knowing it can be a good investment as well aside from being a good currency.

However, its a good thing that bitcoin is now more famous all over the world, and adopting it as a global currency is the next thing in line.

[Hamphser]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

Getting salary in a volatile currency like bitcoin, is a very risky proposition. I know it can be extremely rewarding as well if the price increases but considering the price fluctuation, it is risky.

Personally I wouldn't prefer to get my salary in bitcoin. But given a chance probably 20% of my salary can be given in bitcoin and rest should be in fiat. This will ensure that my ingoing liabilities are met and also I will get the chance to save in bitcoin.

Having 100% of my salary in bitcoin or in any other crypto is a big no no.

Very risky indeed but they wont really be allowing or approving it without any considerations in terms of volatility.Of course they would be minding much

about moving prices and not all would really be not agrees on that one.Therefore,decisions like this would really be not going in final if it wasnt really

being mind that carefully.It would be good if they would really be giving out some option neither fiat or crypto they would able to received.

[Blawpaw]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

if the country is still developing and the payment for workers is still too small, I don't think it is worth paying with crypto. because usually their salary will always run out for their daily needs, it's no wonder they don't even have a salary left. paying using crypto will only add to the burden for them, it doesn't seem effective, other than maybe only those who have a certain salary, there must be criteria first.

Of course, that is not an option for many workers. Workers who receive the minimum wage in countries like Brazil would have no benefit at all to have their payroll in cryptos. I guess that a crypto payroll would be better suited to white collars and other workers with bigger salaries. Nevertheless, in case the law gets passed, they will always have the right to choose between fiat and crypto.

[coupable]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

Yes ! Almost all of us, including those from countries where bitcoin use is regulated, wish that their parliaments propose regulation projects for their people (workers in particular).
In a third world country, where financial institutions have a powerful authority over economy, i think that it's more realistic that banks take aware of blockchain involvement and make the needed updates. In my country, we don't have right even to use PayPal or international cards .

[gabbie2010]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

Atleast this singular act by the  brazilian Congressman will create more awareness for bitcoin in the country I am sure there are lots of workers who might have never heard of bitcoin before this is a big opportunity to for them thus would really enquire or research about bitcoin after being convinced about it usefulness and it advantages while some of the workers will embrace the idea if the congressmen eventually adopt it and might consider it as a means of salary payment consequently invariably will pump it price due to more adoption.

[flyer88]

this is a very precise proposal with crypto payments to the workers there, making it very easy to process transactions but will it be well received by the workers especially considering that they may not understand the issue of crypto currencies based on digital currencies so they must gain the trust of these workers in order to accept using digital currency in the transaction process of paying their wages

[Ararbermas]

Are you guys hoping for the same to happen in your country?

yep i will agree if someone here in our country proposed crypto as a payment method especially when it comes distribution of the salaries because it's a big advantage to have crypto while working in company or whatever its because it's like an investment..the more  crypto you have the more of chances to obtain massive profits.. Lol simple as that, but for sure the problem on it is the fees.. Just imagine paying for hundreds of workers, so how much fees do you need for that?  

[batang_bitcoin]

In my country, I think the minds of my countrymen are starting to be open about cryptocurrencies. As they look at the price of bitcoin, everyone wants to own even the least that they can with bitcoin. We're a free and good country towards cryptocurrencies and I don't think that there's a need to pass any bill since it will just make things complicated upon being noticed that there's so much transactions happening in the network and, they might think that there's a need to increase taxation to it. Although if I'm working for a company, it's a good option if you can choose to get paid in fiat or bitcoin.

Once a congressman proposes a bill for crypto payments, does it mean that the next thing they will propose is to make bitcoin as a legal currency? Because it seems so useless if people will receive their salary in bitcoin and yet, it can't be use to purchase basic goods and services. Because if bitcoin remains not adopted by its own government, then i think only for those who know bitcoin well will certainly agree to accept bitcoin knowing it can be a good investment as well aside from being a good currency.

However, its a good thing that bitcoin is now more famous all over the world, and adopting it as a global currency is the next thing in line.

There's an option if a worker wants to get paid in bitcoin then that shall be granted but if he wants to get paid in cash, then he's free to choose fiat.
It's still just a proposal and there's no forcing for the companies to pay their workers into bitcoin. But that's just seem to be a very optimistic move when we see government official that are very favorable to bitcoin.

[michellee]

this is a very precise proposal with crypto payments to the workers there, making it very easy to process transactions but will it be well received by the workers especially considering that they may not understand the issue of crypto currencies based on digital currencies so they must gain the trust of these workers in order to accept using digital currency in the transaction process of paying their wages

Before their workers can apply for crypto payments, the company needs to teach the workers how to use crypto so there will be no problem that can happen to the workers. Maybe the use of crypto as the payment be an option so the workers can still get fiat for their payments and they only spend some of their payment to have crypto for the investment. I do not see the chance for workers in my country to accept crypto for the payments since people here still prefer to use fiat money for their payments.

[Taskford]

this is a very precise proposal with crypto payments to the workers there, making it very easy to process transactions but will it be well received by the workers especially considering that they may not understand the issue of crypto currencies based on digital currencies so they must gain the trust of these workers in order to accept using digital currency in the transaction process of paying their wages

Before their workers can apply for crypto payments, the company needs to teach the workers how to use crypto so there will be no problem that can happen to the workers. Maybe the use of crypto as the payment be an option so the workers can still get fiat for their payments and they only spend some of their payment to have crypto for the investment. I do not see the chance for workers in my country to accept crypto for the payments since people here still prefer to use fiat money for their payments.

I think this is optional only since for sure this kind of option will not be push as mandatory since its so hard to get some knowledge about bitcoin if you don't have any access to internet and learn about it, so maybe they should do a dry run before its full implementation to see if they can get a positive result towards this adoption they try to impose. But I'm sure in the long run this will be a good option to take but its just people need more education about this technology.

[michellee]

this is a very precise proposal with crypto payments to the workers there, making it very easy to process transactions but will it be well received by the workers especially considering that they may not understand the issue of crypto currencies based on digital currencies so they must gain the trust of these workers in order to accept using digital currency in the transaction process of paying their wages

Before their workers can apply for crypto payments, the company needs to teach the workers how to use crypto so there will be no problem that can happen to the workers. Maybe the use of crypto as the payment be an option so the workers can still get fiat for their payments and they only spend some of their payment to have crypto for the investment. I do not see the chance for workers in my country to accept crypto for the payments since people here still prefer to use fiat money for their payments.

I think this is optional only since for sure this kind of option will not be push as mandatory since its so hard to get some knowledge about bitcoin if you don't have any access to internet and learn about it, so maybe they should do a dry run before its full implementation to see if they can get a positive result towards this adoption they try to impose. But I'm sure in the long run this will be a good option to take but its just people need more education about this technology.

If those workers have a will to learn about bitcoin, they will understand that bitcoin can be their new investment type besides buying gold as with accepting bitcoin for their payment, that means, they have the new investment that will give them profit in the future. But if in their city, there are only a few local stores that accept bitcoin, they will rethink accepting bitcoin as the payment because the local store needs approval from the authority to accept bitcoin for the new payment system.

[AakZaki]

Yes ! Almost all of us, including those from countries where bitcoin use is regulated, wish that their parliaments propose regulation projects for their people (workers in particular).
In a third world country, where financial institutions have a powerful authority over economy, i think that it's more realistic that banks take aware of blockchain involvement and make the needed updates. In my country, we don't have right even to use PayPal or international cards .

The involvement of blockchain in the country's economic system certainly cannot be applied just like that, it takes rigorous research and long enough to be able to apply blockchain in it. The use of bitcoin in developing countries is regulated and regulated according to their decisions. The regulations given are generally only as commodity assets.
there is still a lot to think about to adopt for developing countries, because it involves the risks that will occur.

[jostorres]

Yes ! Almost all of us, including those from countries where bitcoin use is regulated, wish that their parliaments propose regulation projects for their people (workers in particular).
In a third world country, where financial institutions have a powerful authority over economy, i think that it's more realistic that banks take aware of blockchain involvement and make the needed updates. In my country, we don't have right even to use PayPal or international cards .

The involvement of blockchain in the country's economic system certainly cannot be applied just like that, it takes rigorous research and long enough to be able to apply blockchain in it. The use of bitcoin in developing countries is regulated and regulated according to their decisions. The regulations given are generally only as commodity assets.
there is still a lot to think about to adopt for developing countries, because it involves the risks that will occur.

Right now developing countries are much behind in this all because corruption is very serious issue for them and in this system mostly peoples don't like this blockchain and crypto suitable for them just because of this they are creating some trouble for adoption but if few revolutionary leaders feel good then surely they can adopt and having big impact on their financial crisis and many other problems those not fixed in long run.

Brazil is very big country with some good ways, but they fail in very long run because of this corrupt system and poor work in regulations. If they want to do some quick for this all then surely they have to adopt this with very positive way because this is not easy but still good and better way for having good results in short time.

[Ryker1]

Are you guys hoping for the same to happen in your country?

yep i will agree if someone here in our country proposed crypto as a payment method especially when it comes distribution of the salaries because it's a big advantage to have crypto while working in company or whatever its because it's like an investment..the more  crypto you have the more of chances to obtain massive profits.. Lol simple as that, but for sure the problem on it is the fees.. Just imagine paying for hundreds of workers, so how much fees do you need for that?  

Well I think not all prefer but those who can able to hold for a long time for sure they will and remember that worker after giving the salary it will need them to buy food in the table for their families, they don't have time for saving it. Regarding the fess, that is good if the company will use a wallet that supports the lightning network features, you can send multiple addresses without worrying too much about the fees. However, if everyone is willing to take a risk of their salary, that would be good for them.

[Coyster]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

If it is in the aspect of mass adoption, then this is a pretty good news, more salary earners that prolly didn't know about Bitcoin could be allured to crypto, that means more acceptance, and in the past year or so, especially immediately the pandemic began, crypto adoption has been growing massively, with the devaluation of fiat currencies and a struggling economy, more people and institutions have found alternative in crypto.

Having said that, on a personal note, I really do not think accepting your salary in crypto is really too much of a good thing, maybe when the network becomes less volatile, then considering doing that can be a good option, but atm it's much better to collect your salary in fiat and use a portion of it to then buy crypto.

[Gyfts]

The article is ambiguous is this regard but why would legislation be needed to mandate the option to opt in for a crypto payment? I don't believe Brazil has banned bitcoin nor is there enforcement against bitcoin transactions so this just seems like extra government bureaucracy. I think any private employer should allow their employees to accept their payment in whatever currency they'd choose, but it doesn't make sense to create legislation that would create an option (granted that the option does not currently exist).

[coupable]

Yes ! Almost all of us, including those from countries where bitcoin use is regulated, wish that their parliaments propose regulation projects for their people (workers in particular).
In a third world country, where financial institutions have a powerful authority over economy, i think that it's more realistic that banks take aware of blockchain involvement and make the needed updates. In my country, we don't have right even to use PayPal or international cards .

The involvement of blockchain in the country's economic system certainly cannot be applied just like that, it takes rigorous research and long enough to be able to apply blockchain in it. The use of bitcoin in developing countries is regulated and regulated according to their decisions. The regulations given are generally only as commodity assets.
there is still a lot to think about to adopt for developing countries, because it involves the risks that will occur.

Right now developing countries are much behind in this all because corruption is very serious issue for them and in this system mostly peoples don't like this blockchain and crypto suitable for them just because of this they are creating some trouble for adoption but if few revolutionary leaders feel good then surely they can adopt and having big impact on their financial crisis and many other problems those not fixed in long run.

As the blockchain can eliminate the intermediaries in many public services, corruption will be its first victims, so we can understand why governors avoid the adoption for such a great technology. From another side, adopting bitcoin in particular, can even help those corrupted legislators so it's against their own benefits not to propose bitcoin as an alternative way of payments even for specific businesses.
In many countries, facing economic/financial problems, the urgent need for a solution enforce governors to try new methods even they can't yet handle it properly.
I took my country as example, where youth generation are yet fignting to use international payment services, so it's somehow far from proposing bitcoin rgulation .

[Finestream]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

If it is in the aspect of mass adoption, then this is a pretty good news, more salary earners that prolly didn't know about Bitcoin could be allured to crypto, that means more acceptance, and in the past year or so, especially immediately the pandemic began, crypto adoption has been growing massively, with the devaluation of fiat currencies and a struggling economy, more people and institutions have found alternative in crypto.

Having said that, on a personal note, I really do not think accepting your salary in crypto is really too much of a good thing, maybe when the network becomes less volatile, then considering doing that can be a good option, but atm it's much better to collect your salary in fiat and use a portion of it to then buy crypto.

With bitcoin's high volatility, maybe it will be very risky to receive your salary in bitcoin because once its value will drop, your salary too will be at risk. So i suggest maybe you can stick into receiving fiat because it has a fixed value and will never come to decrease its price.

However, if you wish to have bitcoin, maybe investing in it at your own expense is a good idea. Just invest on the amount you can afford to lose as there will always no guarantee if its value always stays up or might suddenly drop its value due to some market price correction.