Days you need to work your ass at minimum wage for a BTC, by country

[20kevin20]

The difference is crazy between Venezuela and Luxembourg! It’s around 3000 times difference, it’s just crazy to think how little Venezuelan people are working for. Crazy how a Hong Kong resident has to work 1 day and a Venezuelan resident has to work 100 days for the same amount of money. Blows my mind! And makes me think more about how privileged I am to work in a country where working for a dollar doesn’t require a lot of effort. It’s a privilege afterall.

[Casdinyard]

I don't know where you got these data, but in the Philippines, the latest standard minimum wage is ₱570 to ₱610.^[1] There are variations, of course, like whether you belong to the agriculture sector, or you are working in a business establishment employing less than 15 or 10 persons only, or you are from a different region, and so on.

Supposing it's ₱610 and the price of BTC in PHP right now is ₱1,635,564.73, a minimum-wage worker would only be working approximately 2,681 days to achieve 1BTC. That would be more than 7 years.

[1] https://pia.gov.ph/news/2023/06/30/ncr-wage-board-grants-php40-hike-in-the-daily-wages-for-private-sector-workers#:~:text=NCR%2D24%20on%2026%20June,or%20less%20workers%2C%20and%20manufacturing

While a longshot from the almost 4k days that you'd have to kill yourself to earn one btc, it's still not any better than the countries on the top of the list. Just goes to show how shitty things are and have been in this country especially now that a crook of a person was chosen as their president. In any case nothing much could be done now really except for us to just hope for the best when the next series of elections come.

R.I.P ——-> Yearly appraisals and angry boss on the ass. 💀
I think this factor isn’t considered in the above hypothetical situation. I know that you have considered minimum wage but even the minimum wage appreciates every year and it also gets revised as per the yearly budget set by a country. There are many countries that seems not on a wager but flexible to fixed salaries purely based on the employee performance and yearly appraisals. That means, oddly at some point every employees from different nations would buy Bitcoins even within 1-2 years of time frame.

But I assume we are discarding all the good factors here and just focusing on low level case scenarios.

Countries with more than 27 years, Lolz.

Of course it won't. I'm thinking this is based off of an average white-collar worker's labor of 8 hours and all that stuff. Plus yearly increase in salaries wouldn't really be taken into account here for the reason that we're not fortune tellers and we can't tell how much the pay's going to be increased by next year, and it's not even consistent. For example in the Philippines alone it took them almost 6 years for the pay grade to increase by 5% or something.

[coolcoinz]

So, people earning minimum wage ...live from hand to mouth, they will never have the full amount available to buy Bitcoin. The best bet for them will be to get a second job and to use the full amount from that job to fund their first Bitcoin.

Also ... you have worked with a fixed price... so if the price of a Bitcoin goes up, then people can sell their coins.... wait for the price to go down and then buy more Bitcoin from the profit. (this is what I have done and I reduced the time and money from my wages to get to that first coin. 

It's not that bad. In some EU countries minimum wage may not be enough to rent an apartment by yourself, buy food and save up, but if you have some wealth given to you by your parents, like you own an apartment and share it with someone, like a girlfriend, you can live fine on 2 minimum wages. It's not going to be a life of adventure, if you know what I mean, but you should be able to save up, be able to buy a car, go abroad for holidays and all that. It's not like minimum wage = slavery everywhere you go. In some countries it only allows to buy the most basic things, but not in all of them.

What is the most interesting is how many countries are at 5k+. If you're at 5k it means unreachable, because you're saving up in fiat terms, so the more time it takes the more impact inflation will have on your savings and the more expensive bitcoin will be. If you decide to save up with a goal of 1 btc over the course of 3 years, that's doable, but 5 years will mean that bitcoin will go through a whole cycle while you're doing it, and at the same time yo will lose at least 5% of what you were trying to save up each year. What looks now like 5 years may in fact end up being 7, or more.

[davis196]

That's some pretty useless statistical data if you ask me.
What's the point of busting your ass working on a minimum wage for the sake of earning one whole Bitcoin? Can't you just earn 0.1 BTC?
Will you consider your life to be truly accomplished after earning that one whole Bitcoin? Why don't you invest in yourself, gather some skills and get jobs, that are paying a higher salary? Why don't you try to build a business? Working on a minimum wage is the definition of wasting your life, while being an underpaid slave. Countries that have low salaries also have low cost of living, so it's not accurate to compare the minimum wage in different countries without calculating the purchasing power parity(PPP).

[CryptSafe]

The difference is crazy between Venezuela and Luxembourg! It’s around 3000 times difference, it’s just crazy to think how little Venezuelan people are working for. Crazy how a Hong Kong resident has to work 1 day and a Venezuelan resident has to work 100 days for the same amount of money. Blows my mind! And makes me think more about how privileged I am to work in a country where working for a dollar doesn’t require a lot of effort. It’s a privilege afterall.

It is indeed crazy experience to see such gap between too nation's when it comes to minimum wage and salary structure. I was looking at the statistics of Africa and it pisses me off. An individual would need to work for some thousand day's before they can be able to acquire a bitcoin. This is indeed a crazy one for workers of the African nations. This shows that most of the African nations work below minimum wages which are not enough to carter for their needs. This is very disheartening and dissappointing. The government of various nation's needs to sit up and do the needful.

[Z390]

In my country what some people made every month is going to be enough for rent fee only, no extra food buying opportunity or hospital bill, now things are even getting more difficult, you treat typhoid now costs a lot and many start boiling water and avoiding road side food to avoid getting sick, just pray you are in good health or else you are in a big problem, everything health care costs a lot.

The only option left is to learn a skill that will pay your bills and also keep you alive through medical bills and checkup, the problem is the country situation but the bigger problem is your monthly income or source of income.

[nelson4lov]

That's some pretty useless statistical data if you ask me.
What's the point of busting your ass working on a minimum wage for the sake of earning one whole Bitcoin? Can't you just earn 0.1 BTC?
Will you consider your life to be truly accomplished after earning that one whole Bitcoin? Why don't you invest in yourself, gather some skills and get jobs, that are paying a higher salary? Why don't you try to build a business? Working on a minimum wage is the definition of wasting your life, while being an underpaid slave. Countries that have low salaries also have low cost of living, so it's not accurate to compare the minimum wage in different countries without calculating the purchasing power parity(PPP).

I don't see a problem with the comparison without the inclusion of the Purchasing Power Parity (even though it matters) - but this is just a high level comparison. Also, you made really fine points, earning only minimum wage while doing little to nothing to get skilled in other professions that are in high demand is one way to die poor. Especially in a time like this when you don't necessarily need to go to a university to actually learn or master a skill.  There are plenty of resources (God bless the internet). I know a ton of people that worked minimum wage but went the extra mile and got and in-demand skill. It was a great decision.

A man who stops learning is dead. Good point to note is that most people are comfortable earning minimum wage.

[KiaKia]

That's some pretty useless statistical data if you ask me.
What's the point of busting your ass working on a minimum wage for the sake of earning one whole Bitcoin? Can't you just earn 0.1 BTC?
Will you consider your life to be truly accomplished after earning that one whole Bitcoin? Why don't you invest in yourself, gather some skills and get jobs, that are paying a higher salary? Why don't you try to build a business? Working on a minimum wage is the definition of wasting your life, while being an underpaid slave. Countries that have low salaries also have low cost of living, so it's not accurate to compare the minimum wage in different countries without calculating the purchasing power parity(PPP).

There is nothing wrong with this, it just shows that some countries are better to live in and make a living for yourself, you will be able to survive and invest if you are in Australia than Venezuela,  I like this whole concept and I thank OP for creating it, very interesting to me, even with 0.1 BTC, that will be hell for people in Venezuela to get still, compare to someone living and working in the U.K, this just show that if your country sucks very bad it can affect your future too, no wonder my country people are running out to Australia and the United Kingdom, I would have done the same but my payment are always in dollars, so I am doing better than those that are getting paid in Fiat currency in my country.

[tbct_mt2]

There is nothing wrong with this, it just shows that some countries are better to live in and make a living for yourself, you will be able to survive and invest if you are in Australia than Venezuela,  I like this whole concept and I thank OP for creating it, very interesting to me, even with 0.1 BTC, that will be hell for people in Venezuela to get still, compare to someone living and working in the U.K, this just show that if your country sucks very bad it can affect your future too, no wonder my country people are running out to Australia and the United Kingdom, I would have done the same but my payment are always in dollars, so I am doing better than those that are getting paid in Fiat currency in my country.

You must consider that in nations where average salary is high, they will have to spend higher expenses so they will not save too much money after spending. If in a low income countries, we receive such high salary, we will have big savings and can use it for Bitcoin investment.

However in high income country, what you can save from that same salary will be lower. It can affect capital for investment but seriously, people in high income countries have better chances to have 1 bitcoin as investment from their money.

[South Park]

The difference is crazy between Venezuela and Luxembourg! It’s around 3000 times difference, it’s just crazy to think how little Venezuelan people are working for. Crazy how a Hong Kong resident has to work 1 day and a Venezuelan resident has to work 100 days for the same amount of money. Blows my mind! And makes me think more about how privileged I am to work in a country where working for a dollar doesn’t require a lot of effort. It’s a privilege afterall.

It also tells you how mismanaged is Venezuela in general, Venezuela has oil and many other natural resources, nice weather and hard working people, however just because of yet another social experiment politicians played with the lives of millions only to be proved wrong once again, so when taking everything into account it is not surprising there is such a disparity between a country that is adequately administrated and one that is a complete disaster.

[DoublerHunter]

The difference is crazy between Venezuela and Luxembourg! It’s around 3000 times difference, it’s just crazy to think how little Venezuelan people are working for. Crazy how a Hong Kong resident has to work 1 day and a Venezuelan resident has to work 100 days for the same amount of money. Blows my mind! And makes me think more about how privileged I am to work in a country where working for a dollar doesn’t require a lot of effort. It’s a privilege afterall.

It also tells you how mismanaged is Venezuela in general, Venezuela has oil and many other natural resources, nice weather and hard working people, however just because of yet another social experiment politicians played with the lives of millions only to be proved wrong once again, so when taking everything into account it is not surprising there is such a disparity between a country that is adequately administrated and one that is a complete disaster.

^As I heard this before Venezuela was the poorer country in all countries and you are very much money if you have BTC there because that is a lot compared to the dollar value. But you are both right, it is evident that Venezuela's mismanagement is reflected in various aspects of the country. Despite its abundant natural resources, favorable climate, and industrious population, the nation has faced significant challenges due to the consequences of political decisions. It is disheartening to witness how politicians conducted social experiments that negatively impacted the lives of millions of people. These misguided policies have repeatedly proven to be ineffective, exacerbating the disparities between well-administered countries and those facing complete disasters.
By the way, the OP data is a good comparison of which country BTC is good to convert, it is Venezuela.

[justdimin]

In my country what some people made every month is going to be enough for rent fee only, no extra food buying opportunity or hospital bill, now things are even getting more difficult, you treat typhoid now costs a lot and many start boiling water and avoiding road side food to avoid getting sick, just pray you are in good health or else you are in a big problem, everything health care costs a lot.

The only option left is to learn a skill that will pay your bills and also keep you alive through medical bills and checkup, the problem is the country situation but the bigger problem is your monthly income or source of income.

Unfortunately that is true for many cities all around the world. Rent is not nation based but more like city based because even from city to city it changes which means that we are going to end up with a situation where people will pay a lot of rent in one city of a nation but on another city of that nation it could be cheap. In my country, the three biggest cities have rent so high that the average salary is literally lower than the rent in those cities. Think about it, an average salary is not enough for just rent.

Of course people work more and bigger jobs, sometimes two jobs, and thanks to that they survive but it's a tough deal. I am in one of them, and thank god I own my house, otherwise I would be poor right now.

[Lorence.xD]

I thought I wouldn't see Philippines as part of this list. Imagine working your ass off at 3k+ day just to afford an investment to Bitcoin. I mean it's true that you can start at low value first but those minimum wages of an average person doesn't still included the everyday needs such as foods, shelter, clothes and etc. To be honest, the earning I could get in crypto is almost the same to an average person. But the difference is huge, you would spend all your time working with needing a strong mental and physical since work is not easy here. Worse if you applied to a toxic environment it will drain you super.

[acroman08]

156

Venezuela

1,095,000

working for 1,095,000 days on a minimum wage to be able to buy Bitcoin?! damn, is it even worth working for a company that pays in local currency in Venezuela? Their currency really collapsed. I can't fathom how it feels to work hard for money that basically worth nothing.

I don't know where you got these data, but in the Philippines, the latest standard minimum wage is ₱570 to ₱610.

I rarely watch the local news now. I'm glad they finally decided to increase the standard minimum wage, especially with this crazy price increase on every product. last time I worked for a company the minimum wage was still around ₱400+

[panganib999]

That's some pretty useless statistical data if you ask me.
What's the point of busting your ass working on a minimum wage for the sake of earning one whole Bitcoin? Can't you just earn 0.1 BTC?
Will you consider your life to be truly accomplished after earning that one whole Bitcoin? Why don't you invest in yourself, gather some skills and get jobs, that are paying a higher salary? Why don't you try to build a business? Working on a minimum wage is the definition of wasting your life, while being an underpaid slave. Countries that have low salaries also have low cost of living, so it's not accurate to compare the minimum wage in different countries without calculating the purchasing power parity(PPP).

C'mon dude you know it's not supposed to be taken at face value

I'm thinking this just paints a clear perspective of how fucked some countries are economy wise. With some of them even going so far as 3000 years Lol what the flying fuck Venezuela. But I digress. I think as I said it paints a nice perspective of how things are going on certain countries in a baseline that we could all understand which is bitcoin. With this in mind we're able to see just how drastic the difference is between countries like Luxemburg and Australia, compared to Venezuela or any other country in the bottom floor. While it doesn't pose any clear solution as you are trying to say here, I'm thinking to some people seeing this is more than enough reality check to see how fucked they are country-wise you know.

[hatshepsut93]

When you throw away all the context - PPP, median wages, costs of living, rent prices, transportation and so on, your list just reflects the nominal GDP of countries. It doesn't even answer the question of "which country is the best to immigrate to as an unskilled worker to earn 1 BTC". The best way to get 1 BTC is to get a lot of fiat first, and how to do that is something that everyone has to figure out themselves, because everyone is in a different country and has different starting conditions.

[qwertyup23]

I don't know where you got these data, but in the Philippines, the latest standard minimum wage is ₱570 to ₱610.^[1] There are variations, of course, like whether you belong to the agriculture sector, or you are working in a business establishment employing less than 15 or 10 persons only, or you are from a different region, and so on.

Supposing it's ₱610 and the price of BTC in PHP right now is ₱1,635,564.73, a minimum-wage worker would only be working approximately 2,681 days to achieve 1BTC. That would be more than 7 years.

[1] https://pia.gov.ph/news/2023/06/30/ncr-wage-board-grants-php40-hike-in-the-daily-wages-for-private-sector-workers#:~:text=NCR%2D24%20on%2026%20June,or%20less%20workers%2C%20and%20manufacturing

This is the reason on why majority of our countrymen flee to other countries in order to look for a bigger opportunity.

Imagine, in our current minimum wage, there is just not enough to both feed our families and save for other things as well. The minimum wage is so low to the point that it is more than difficult to imagine living and saving at the same time. Unfortunately, the standard MW is considered "high" for our standards given that majority of our people are still being paid below the MW.

I just really hope that our economy at least improves in the next couple of years. With the government being so corrupt, no wonder that our country has gone from bad to worse in just a few years.

[Darker45]

~snip~

This is the reason on why majority of our countrymen flee to other countries in order to look for a bigger opportunity.

Imagine, in our current minimum wage, there is just not enough to both feed our families and save for other things as well. The minimum wage is so low to the point that it is more than difficult to imagine living and saving at the same time. Unfortunately, the standard MW is considered "high" for our standards given that majority of our people are still being paid below the MW.

I just really hope that our economy at least improves in the next couple of years. With the government being so corrupt, no wonder that our country has gone from bad to worse in just a few years.

I read through the responses and while our minimum wage is indeed low, there are other countries that have much lower. Pakistan, for example, has only $5 a day. Nigeria has $1.28 a day. Indonesia probably is only slightly higher than us.

I think one of the big problems here is that while we have a low minimum wage, we actually have relatively expensive goods and services. The cost of living in some urban cities here is so high you can't survive with a minimum salary. As a matter of fact, one of our cities is in the top 20 most expensive cities in the whole of Asia, higher than Macao or Xiamen, for example.^[1] Another city is more expensive than more developed ones like Jakarta, for example, or Kuala Lumpur.^[2]

However, lest it be misunderstood, in reality minimum wage doesn't actually determine how long will you be able to accumulate 1BTC.

[1] https://www.google.com/search?q=most+expensive+cities+in+asia
[2] https://www.windowseat.ph/expensive-cities-in-southeast-asia/

[Plaguedeath]

When you throw away all the context - PPP, median wages, costs of living, rent prices, transportation and so on, your list just reflects the nominal GDP of countries. It doesn't even answer the question of "which country is the best to immigrate to as an unskilled worker to earn 1 BTC". The best way to get 1 BTC is to get a lot of fiat first, and how to do that is something that everyone has to figure out themselves, because everyone is in a different country and has different starting conditions.

I don't think it's possible for unskilled worker to immigrate to the competitive country, they must be skilled in foreign language first. If they only have hard work, discipline and willing to be paid with minimum salary, it's not enough as there's a problem with the communication.

With the current modern era, I think the best is you live in your country or somewhere that has a low lifestyle and become a freelancer that your client are from foreign country. This make you get a high payment with a low spending.

[doomloop]

The difference is crazy between Venezuela and Luxembourg! It’s around 3000 times difference, it’s just crazy to think how little Venezuelan people are working for. Crazy how a Hong Kong resident has to work 1 day and a Venezuelan resident has to work 100 days for the same amount of money. Blows my mind! And makes me think more about how privileged I am to work in a country where working for a dollar doesn’t require a lot of effort. It’s a privilege afterall.

That was indeed crazy but I think people on that country doesn't know a thing if how can they escape their faith so they just go with the flow. If we are truly concerned about them then maybe we can do something? But, that's just how it goes sometimes. There are always people or countries who are poor and then there are rich.

Life is truly unfair. If we are on the comfortable side, we should be grateful and don't complain anymore. The effort that we exert to earn won't only depend on the country we are living but it can also depend on the nature of our job but what was your job anyway and which country do you live? I'm just curious to know it.