What if salaries were paid in BTC

[CryptoHeadlineNews]

A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .so what is your take on this will it be a positive move on the Bitcoin ecosystem or not

For me, I think this can only be done only in Bitcoin-legalized countries, such as "El Salvador" and "Central African Republic" or in a crypto-related company/Exchange such as "Binance, Coinbase, Coinmarketcap" e.t.c where everybody understands the usefulness of Bitcoin as a worthy asset for store of value for the future. Because of what benefits will it be paying salaries in Bitcoin, whereby after the payment being made, the user converts it to fiat immediately for daily use, as such people will definitely miss the bull if the price of Bitcoin happens to skyrocket high, as they are only familiar with Bitcoin for transactional purpose and not investment purpose, which is where the profit lies.

So at such point, the basic orientation really matters

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[Peanutswar]

A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .so what is your take on this will it be a positive move on the Bitcoin ecosystem or not

The idea is good because its being transparent but again right now most of the mode of payment comes into transactions so even banks detected the transactions committed by the company or the person its self as a payment, also people surely will disagree because imagine you earn a 100$ in your salary per week but due to market price movement its now dump and your salary is now a 70$ imagine you lose instantly a 30 USD without doing anything and instead you bought already a things you need to now its lose or you need to hold. Reason why they don't want to use the bitcoin as salary. Also not all country already accepted the use of the cryptocurrency.

[kotajikikox]

A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .so what is your take on this will it be a positive move on the Bitcoin ecosystem or not

Salaries should not be paid in bitcoins because the bitcoins will be quickly converted to cash for use by the workers almost immediately after they receive it. This is because bitcoin is not yet generally accepted and there are not so many shop owners and businesspeople that will accept bitcoins for payment. If there had been, then the bitcoins received in form of salary can easily be used directly for transactions without need for change, and it will not create any issue.

wrong , it is their choices if they wanted to convert in fiat/cash or not m there are employees that also have other source of income in which they need not to take their bitcoin from salary to use instead they will only keep it in holding.

and also there are some employer that can ask their employee if they wanted to be in bitcoin or cash , still their choice .

[OcTradism]

Volatility would really be the main concern specially if you are that the employee of a certain company which do make out such changes when it comes to payment or your salary and if you are that someone who isnt prepared

If you accept and choose Bitcoin as your salary receiving method, you will have to accept risk and must know it would  be better if you prepare some cashes for future when you will not want to cash out your bitcoin with loss, lower price than when you get it from your salary payment. Without cash reserve, you will have to cash out your bitcoin or have to use it directly with on chain transactions to pay something.

Salaries should not be paid in bitcoins because the bitcoins will be quickly converted to cash for use by the workers almost immediately after they receive it. This is because bitcoin is not yet generally accepted and there are not so many shop owners and businesspeople that will accept bitcoins for payment. If there had been, then the bitcoins received in form of salary can easily be used directly for transactions without need for change, and it will not create any issue.

Why not?

To reduce risk for employers, salary payments can be paid in two halves, one with Bitcoin and another one with either cash or stable coin. Salary payment methods should be in options and employers can choose what they like. If they only choose one method like cash or bitcoin, they will have to prioritize safety of your salary value or to take advantage of Bitcoin growth as their investment.

[ZAINmalik75]

A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .so what is your take on this will it be a positive move on the Bitcoin ecosystem or not

Yeh government from any country at current situation will not allow anyone to tackle his baking (fiat) system because it's the way through which government hold thier grip on citizen, where you will be dependent on government and there will be no financial freedom and privacy due to this you will be investigated for any big transaction. While Bitcoin solved all of these problems and provide you financial freedom due to which government will lose grip from him so currently it's not possible but later after huge inflation may be government allow such steps.

While salaries in Bitcoin is far good in such cases but while in other cases it harm you financially because Bitcoin has so much volatility and some time providing given amount of salary to all of your clients is not possible by time of dump in Bitcoin price also all those clients which has limited budget for thier need will not fullfill because of salary reduction due to Bitcoin price dump, so it's not a good advice for such business to provide salary in Bitcoin which has limited budget for clients salaries.

[RewFrew]

A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .so what is your take on this will it be a positive move on the Bitcoin ecosystem or not

I think it will be great movement for bitcoin. People giving bitcoin as payment system it is best news for bitcoin. Not only bitcoin using for payment system. In future Bitcon will be legal in many country i think.

[darkv0rt3x]

There are some considerations to take into account before we even start thinking what could change, where it could be good or bad, how to deal with lots of situations. But in my opinion, a starting point needs to be merchants accepting Bitcoin on their own. And also try to incentivate their providers to also accept Bitcoin. And maybe after that the snow ball effect kinks in and it will be eventually accepted legally by governments, even if we still have to pay taxes.
When adoption kicks in in major businesses, I bet that there would be a time where the price would be a lot higher but also way more stable because much more liquidity would come into Bitcoin!

[famososMuertos]

First of all, topic #TBT has been copied in your context a few times, the issue of this controversy already falls into the philosophical aspect.

In any case, there are already a few "celebrities" who receive income in BTC, it will not happen in any country in the short term, although as I mentioned some politicians have taken it upon themselves to mention that they receive payments in bitcoin, in the same way athletes , but the "idealistic" issue for it to happen for ordinary mortals can only happen for now in El Salvador.

By the way, technically if you take all your salary and buy bitcoin, it makes a difference if your company or employer does... (?)

[panganib999]

There are some considerations to take into account before we even start thinking what could change, where it could be good or bad, how to deal with lots of situations. But in my opinion, a starting point needs to be merchants accepting Bitcoin on their own. And also try to incentivate their providers to also accept Bitcoin. And maybe after that the snow ball effect kinks in and it will be eventually accepted legally by governments, even if we still have to pay taxes.
When adoption kicks in in major businesses, I bet that there would be a time where the price would be a lot higher but also way more stable because much more liquidity would come into Bitcoin!

It doesn't have to run that deep especially if you're an owner of a small business, or if you're already an enterprise in the cryptocurrency industry who pays their users in USDT. I've seen small businesses especially in tourist spots in my country use or employ bitcoin payments in their establishments, doesn't seem to hurt them in any way whatsoever since it doesn't need maintaining anyway. And if they could do stuff like that to their business for sure they could ask their employees if they wanted to get paid in bitcoin instead. The matter of incentivizing the use of bitcoin for payment is a different discussion in my opinion, so it doesn't really apply here cause now we're talking about the business side of things and not the employee part of the situation.

[piercekieran99]

We should also consider the potential tax implications of paying salaries in Bitcoin and how that would be managed.

[Bushdark]

A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .so what is your take on this will it be a positive move on the Bitcoin ecosystem or not

Salaries should not be paid in bitcoins because the bitcoins will be quickly converted to cash for use by the workers almost immediately after they receive it. This is because bitcoin is not yet generally accepted and there are not so many shop owners and businesspeople that will accept bitcoins for payment. If there had been, then the bitcoins received in form of salary can easily be used directly for transactions without need for change, and it will not create any issue.

wrong , it is their choices if they wanted to convert in fiat/cash or not m there are employees that also have other source of income in which they need not to take their bitcoin from salary to use instead they will only keep it in holding.

and also there are some employer that can ask their employee if they wanted to be in bitcoin or cash , still their choice .

How would it be when your salary was paid yesterday and today, you noticed that the worth had reduced by 15%. This can be shocking and that is what many people does not understand about Bitcoin. The market is very risky and for your to hold Bitcoin, you must be ready to accept any outcome you see as a result of being a Bitcoin investor.

Bitcoin is not a stable currency and holding it or being paid in Bitcoin can be profitable or unprofitable at any instance. It is important that we know the risk that we are taking before we decide to enter the market because ignorant will not bring back the lost fund.