What if salaries were paid in BTC

[CageMabok]

This means that the wages a person receives will not have a fixed value if the salary is paid in Bitcoins.  Of course, this will greatly affect the economy of each country and can affect the circulation of money itself.

The variable value of the salary received via Bitcoin is only because the price of Bitcoin itself is never fixed and I think this also has its own advantages for those who receive it because wage earners can save it by expecting an increase in the price of Bitcoin so that the amount of money they receive earn via Bitcoin can also increase even though they also have to be patient when they see a decrease in price after receiving a salary via Bitcoin.

[Lorence.xD]

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

So far, I haven't met anybody in my hometown that is being paid in Bitcoins for his main salary. It's one thing to work on the side for some projects and be paid in BTC, but to receive all your money in BTC only might be a bit hard. First of all, the government wants its taxes in their own Fiat money. Sending them monthly BTC for the tax bill is probably not going to be accepted. The same goes for all the utility bills and other living expenses, I have to pay everything in Euro and can't choose to use BTC. It would be nice if the world changes so much that we could choose freely in which currency we want to pay our bills, but I don't see this happening any time soon. So, the only alternative is to exchange our BTC to Fiat on a regular basis each week or month, which creates a big risk if the BTC price moves in the wrong direction. Short term price movements could lead to financial losses if we need to pay bills during bear markets.    

You still need to convert it to your own currency, even if you were paid in bitcoin. You are right; only a few merchants accept bitcoin as payment, and again, they are so few that you also don't notice them because most of the services that we pay for are in fiat. I haven't seen one that was receiving bitcoin as their main salary, but my coworker is almost doing this because we are paid via Paypal and it is banned in their country. I've tried to ask him, but he refuses, as I've seen again on TV that bitcoin is illegal.

As long as fiat remains the main currency of the world, getting a salary in bitcoin or any other cryptocurrency will bring more disadvantages than benefits. I will decline if my main job is paid in bitcoin, I don't find it as interesting or convenient as many people are saying. Even I believe that even the salary we earn on this forum, many people will convert it into fiat as soon as payment is received. So, what is the convenience of getting a salary in bitcoin here?
We take our salary in fiat and then invest in bitcoin as much as we want, that's been going on for 14 years, and has anyone experienced any inconvenience?

But if we look at it, there's a few jobs that are paid in Bitcoin like for example here in the forum which is the signature campaign that they will pay you thru BTC. So in short, I think it would only work in crypto currencies related work since the employee or the worker are aware on how Bitcoin works despite it's volatility. I think they would like to be paid in BTC than in fiat currency since they could hold more BTC without investing fiat money. But if it comes to corporations work? Nah of course it would not be a good idea, it's like giving them a random amount of money since BTC are volatile it changes it's value time to time. And the fact that's the hassle you'll need to do since you will still need to convert it to fiat money so you could use it plus the transaction fees.

[cheezcarls]

In my opinion, it’s best for companies to have knowledge about BTC first before implementing it as a payment method to their employees.

After that, they should educate their employees about Bitcoin as well as the risks of having an up and down price by the time they get paid by it.

They should not make it as mandatory though, but just giving the employees an option if they wanted to be paid in BTC.

[Inwestour]

As long as fiat remains the main currency of the world, getting a salary in bitcoin or any other cryptocurrency will bring more disadvantages than benefits. I will decline if my main job is paid in bitcoin, I don't find it as interesting or convenient as many people are saying. Even I believe that even the salary we earn on this forum, many people will convert it into fiat as soon as payment is received. So, what is the convenience of getting a salary in bitcoin here?
We take our salary in fiat and then invest in bitcoin as much as we want, that's been going on for 14 years, and has anyone experienced any inconvenience?

Many on the forum understand the potential of bitcoin and will hold it, there are, of course, those who will cash it out and use this money, this is everyone's choice. And if you received a salary in bitcoins, then you could also exchange them for cash and there is nothing difficult, but the money that you can afford to save will immediately remain in your wallet in bitcoins, and I think this is very comfortable. I would not mind at all if I could receive a salary in bitcoins at my main job, because I see only advantages in this, I am much calmer when my funds are invested in something more reliable than fiat, which is subject to inflation.

[EluguHcman]

The possibilities of salaries to be paid with Bitcoin is not imaginably in the nearest but would be a one way welcomed system. But it should be reminded or educated that as there goes inflations and deinflations of the economy would be equivalent nature of your salary paid by BTC.

You can be paid a required amount now and then could either be accompanied with a higher or a lower fluctuating system.

This would in one way enhance your investing technicalities where salaries can yield profits but also a stake of gambling due to its fluctuations.

[Cryptohitter]

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 was to early now. Still only 12% of the world's population knows about crypto and their knowledge about crypto and bitcoin is very weak. I think it is not timely to make payments in bitcoins in such a situation. One day in the near future, once people become aware and the restrictions on bitcoins are strengthened, I can make a reconciliation to your topic.

[inthelongrun]

Salaries to be paid in bitcoin? Obviously, if this happens in many companies around the world then it is a big positive news on bitcoin and its believers. But then once again, how willing are these companies and how will the governments react knowing bitcoin is only considered a legal currency in only 2 countries? But in the future, if many countries will adopt bitcoin as a legal currency then I am confident that there will be many companies that will consider paying their employees with BTC. Consider me one of those people that are willing to accept bitcoin for my services.

[Xampeuu]

As long as fiat remains the main currency of the world, getting a salary in bitcoin or any other cryptocurrency will bring more disadvantages than benefits. I will decline if my main job is paid in bitcoin, I don't find it as interesting or convenient as many people are saying. Even I believe that even the salary we earn on this forum, many people will convert it into fiat as soon as payment is received. So, what is the convenience of getting a salary in bitcoin here?
We take our salary in fiat and then invest in bitcoin as much as we want, that's been going on for 14 years, and has anyone experienced any inconvenience?

Many on the forum understand the potential of bitcoin and will hold it, there are, of course, those who will cash it out and use this money, this is everyone's choice. And if you received a salary in bitcoins, then you could also exchange them for cash and there is nothing difficult, but the money that you can afford to save will immediately remain in your wallet in bitcoins, and I think this is very comfortable. I would not mind at all if I could receive a salary in bitcoins at my main job, because I see only advantages in this, I am much calmer when my funds are invested in something more reliable than fiat, which is subject to inflation.

if the salary base is based on fiat, I don't think it's a problem, so every month we will earn different amount of bitcoins, because if monthly salary is based on bitcoins and we earn bitcoin amount every month, it will hurt us, because the bearish season lasts more longer than the bullish season. but to be honest I'm more comfortable with the current situation, we get fiat salaries, and we can invest as we wish in bitcoin, because after all fiat is recognized in our country, and all payment transactions use fiat in my country

[Texac]

As long as fiat remains the main currency of the world, getting a salary in bitcoin or any other cryptocurrency will bring more disadvantages than benefits. I will decline if my main job is paid in bitcoin, I don't find it as interesting or convenient as many people are saying. Even I believe that even the salary we earn on this forum, many people will convert it into fiat as soon as payment is received. So, what is the convenience of getting a salary in bitcoin here?
We take our salary in fiat and then invest in bitcoin as much as we want, that's been going on for 14 years, and has anyone experienced any inconvenience?

Many on the forum understand the potential of bitcoin and will hold it, there are, of course, those who will cash it out and use this money, this is everyone's choice. And if you received a salary in bitcoins, then you could also exchange them for cash and there is nothing difficult, but the money that you can afford to save will immediately remain in your wallet in bitcoins, and I think this is very comfortable. I would not mind at all if I could receive a salary in bitcoins at my main job, because I see only advantages in this, I am much calmer when my funds are invested in something more reliable than fiat, which is subject to inflation.

But you still need fiat for your life, you can't survive without fiat, and if your salary is paid in fiat, you can also convert to bitcoin easily without having any trouble.  furthermore, I find converting from fiat to bitcoin helps us to be more financially proactive than converting from bitcoin to fiat. What happens when you get your salary in bitcoin and 1 hour later bitcoin drops 10%?   but if you get your salary in fiat, the bitcoin price drop gives you a bigger chance when bitcoin is already 10% cheaper.
We all invest in bitcoin because we believe in its potential, but is it okay for it to become a currency or a payment method because of its volatility?  as I know volatility is good when we use it for speculation, I have never heard that volatility is good when used in payments or currencies.

[BenCodie]

The only way for this to be possible is if salaries were paid in BTC but were set in fiat or with some stablecoin. Otherwise salary negotiations would be a nightmare and the ever increasing price of BTC due to the surge in demand would make a lot of companies go bankrupt. Governments would also have to step in and apply regulations, a lot of them are likely to ban the use of bitcoin altogether.

Companies do not have to buy and hold BTC to pay people in BTC, and also don't need to provide a fixed amount of BTC in salary. It also does not have to be a nightmare nor would it cause companies to go bankrupt.

Companies could charge a 1% fee for exchange rates and convert salaries to BTC at spot price, this would not cost them anything nor would it effect them in the long-term. In fact, since 1℅ is above what most exchanges charge, they would profit the difference in the long run.

On a more personal level I would rather get paid in something with more stability, the world economy is somewhat rocky as it is, no need to add more instability to anyone's life.

You mustn't know the long term value proposition of Bitcoin and the short-mid term destiny of fiat if you believe that fiat is more stable than Bitcoin.

Do you know how inflation or monetary policy works and how while you hold money, it keeps its perceived "value" while the cost of everything you can get for it goes up? That's not stable.

[stomachgrowls]

As long as fiat remains the main currency of the world, getting a salary in bitcoin or any other cryptocurrency will bring more disadvantages than benefits. I will decline if my main job is paid in bitcoin, I don't find it as interesting or convenient as many people are saying. Even I believe that even the salary we earn on this forum, many people will convert it into fiat as soon as payment is received. So, what is the convenience of getting a salary in bitcoin here?
We take our salary in fiat and then invest in bitcoin as much as we want, that's been going on for 14 years, and has anyone experienced any inconvenience?

Many on the forum understand the potential of bitcoin and will hold it, there are, of course, those who will cash it out and use this money, this is everyone's choice. And if you received a salary in bitcoins, then you could also exchange them for cash and there is nothing difficult, but the money that you can afford to save will immediately remain in your wallet in bitcoins, and I think this is very comfortable. I would not mind at all if I could receive a salary in bitcoins at my main job, because I see only advantages in this, I am much calmer when my funds are invested in something more reliable than fiat, which is subject to inflation.

But you still need fiat for your life, you can't survive without fiat, and if your salary is paid in fiat, you can also convert to bitcoin easily without having any trouble.  furthermore, I find converting from fiat to bitcoin helps us to be more financially proactive than converting from bitcoin to fiat. What happens when you get your salary in bitcoin and 1 hour later bitcoin drops 10%?   but if you get your salary in fiat, the bitcoin price drop gives you a bigger chance when bitcoin is already 10% cheaper.
We all invest in bitcoin because we believe in its potential, but is it okay for it to become a currency or a payment method because of its volatility?  as I know volatility is good when we use it for speculation, I have never heard that volatility is good when used in payments or currencies.

Im with this, even though im really that much supporting about Bitcoin or cryptocurrencies existence but we cant really still deny the fact that we are still really that needing fiat on day to day basis kind of transaction.

There are things which we do know that cant really be transacted by crypto on which fiat would really be still the main stream no matter what.Why would really be needing to choose or stress out ourselves as long these both things could really be applied and could really be used? If salaries would be paid with Bitcoin then it would be impossible that there would be no announcement or meetings in regarding on such change considering that this one would be talking about on a company on whose such big changes would really be needing to hear out peoples suggestion and agreement with that because for sure not all would really be going in line
with such changes which it would really be normal considering that recognition and adoption isnt really that just that too widespread or been known.

[Vaskiy]

As long as fiat remains the main currency of the world, getting a salary in bitcoin or any other cryptocurrency will bring more disadvantages than benefits. I will decline if my main job is paid in bitcoin, I don't find it as interesting or convenient as many people are saying. Even I believe that even the salary we earn on this forum, many people will convert it into fiat as soon as payment is received. So, what is the convenience of getting a salary in bitcoin here?
We take our salary in fiat and then invest in bitcoin as much as we want, that's been going on for 14 years, and has anyone experienced any inconvenience?

Many on the forum understand the potential of bitcoin and will hold it, there are, of course, those who will cash it out and use this money, this is everyone's choice. And if you received a salary in bitcoins, then you could also exchange them for cash and there is nothing difficult, but the money that you can afford to save will immediately remain in your wallet in bitcoins, and I think this is very comfortable. I would not mind at all if I could receive a salary in bitcoins at my main job, because I see only advantages in this, I am much calmer when my funds are invested in something more reliable than fiat, which is subject to inflation.

But you still need fiat for your life, you can't survive without fiat, and if your salary is paid in fiat, you can also convert to bitcoin easily without having any trouble.  furthermore, I find converting from fiat to bitcoin helps us to be more financially proactive than converting from bitcoin to fiat. What happens when you get your salary in bitcoin and 1 hour later bitcoin drops 10%?   but if you get your salary in fiat, the bitcoin price drop gives you a bigger chance when bitcoin is already 10% cheaper.
We all invest in bitcoin because we believe in its potential, but is it okay for it to become a currency or a payment method because of its volatility?  as I know volatility is good when we use it for speculation, I have never heard that volatility is good when used in payments or currencies.

Salaries paid in bitcoin is a big relief for all the bitcoiners. This helps people to be strong against the inflation. As in the above statement, the volatility will cause big difference in the value received. This is the only flaw, however to overcome such issues it is good to receive certain percentage of salary in terms of bitcoin. So that the daily needs can be met with the fiat and the rest can be kept aside for long term. In between if things were supportive one can enjoy the profit and think of buy back when market drops. Volatility is good when we buy things with bitcoin and the price at its peak. When we buy things when bitcoin is at the bottom, later when there is rise in price we'll see the price of the product bought earlier having half the amount spent.

[Iranus]

On a more personal level I would rather get paid in something with more stability, the world economy is somewhat rocky as it is, no need to add more instability to anyone's life.

You mustn't know the long term value proposition of Bitcoin and the short-mid term destiny of fiat if you believe that fiat is more stable than Bitcoin.

Do you know how inflation or monetary policy works and how while you hold money, it keeps its perceived "value" while the cost of everything you can get for it goes up? That's not stable.

We are talking about whether it is better to pay in bitcoin or fiat, which means we are talking about the short term as the salary will be used for daily needs, and the rest for savings and investments...And in the short term, fiat will be more stable than bitcoin, fiat doesn't lose 5% or 20% in a day, a week, but that always happens with bitcoin. So I don't see any benefit to getting salary in bitcoin either.

I prefer to receive my salary in fiat because I actively plan my monthly expenses and the rest I will invest in bitcoin. Furthermore, I find I have more advantages in holding fiat and waiting to buy a DIP than just holding a fixed amount of bitcoins I receive.

For example: you get 1 btc at 30k$ and I get 30k$. But then bitcoin drops 10% and you keep holding and don't dare to sell because it's depreciating, while I'll use that $30k to buy BTC and my bitcoins will be more than yours. Which one has more advantages? Given the volatility of bitcoin, it is more suitable as an investment asset than a currency. And to get a return on investment, it is necessary to buy low and sell high.

[BenCodie]

On a more personal level I would rather get paid in something with more stability, the world economy is somewhat rocky as it is, no need to add more instability to anyone's life.

You mustn't know the long term value proposition of Bitcoin and the short-mid term destiny of fiat if you believe that fiat is more stable than Bitcoin.

Do you know how inflation or monetary policy works and how while you hold money, it keeps its perceived "value" while the cost of everything you can get for it goes up? That's not stable.

We are talking about whether it is better to pay in bitcoin or fiat, which means we are talking about the short term as the salary will be used for daily needs, and the rest for savings and investments...And in the short term, fiat will be more stable than bitcoin, fiat doesn't lose 5% or 20% in a day, a week, but that always happens with bitcoin. So I don't see any benefit to getting salary in bitcoin either.

I prefer to receive my salary in fiat because I actively plan my monthly expenses and the rest I will invest in bitcoin. Furthermore, I find I have more advantages in holding fiat and waiting to buy a DIP than just holding a fixed amount of bitcoins I receive.

For example: you get 1 btc at 30k$ and I get 30k$. But then bitcoin drops 10% and you keep holding and don't dare to sell because it's depreciating, while I'll use that $30k to buy BTC and my bitcoins will be more than yours. Which one has more advantages? Given the volatility of bitcoin, it is more suitable as an investment asset than a currency. And to get a return on investment, it is necessary to buy low and sell high.

OK - that's your opinion but that does not mean that this is the economically correct option.

If you are planning your expenses in fiat for the month, put that in Tether. Or, put more months worth of expenses into tether and keep on doing that until your expenses are covered for months or years, then save in Bitcoin, as the long term outlook will bring gains. You can use DeFi to earn interest on the tether or p2p lend like HodlHodl, and use P2P marketplaces like agoradesk or hodlhodl to withdraw it into Fiat. Ultimately you best inflation this way and create new opportunities to off-set it, while you can save Btcoin instead of dollars.

The point of being paid in Bitcoin is to use that as the primary savings method instead of fiat. Obviously opting into bitcoin salary is optional, if you are really living week by week or your salary only covers your monthly expenses, then it won't be of preference.

In terms of seeing Bitcoin as a depreciating asset, that's factually incorrect both by history and from a long-term view.

[fuguebtc]

As long as fiat remains the main currency of the world, getting a salary in bitcoin or any other cryptocurrency will bring more disadvantages than benefits. I will decline if my main job is paid in bitcoin, I don't find it as interesting or convenient as many people are saying. Even I believe that even the salary we earn on this forum, many people will convert it into fiat as soon as payment is received. So, what is the convenience of getting a salary in bitcoin here?
We take our salary in fiat and then invest in bitcoin as much as we want, that's been going on for 14 years, and has anyone experienced any inconvenience?

Many on the forum understand the potential of bitcoin and will hold it, there are, of course, those who will cash it out and use this money, this is everyone's choice. And if you received a salary in bitcoins, then you could also exchange them for cash and there is nothing difficult, but the money that you can afford to save will immediately remain in your wallet in bitcoins, and I think this is very comfortable. I would not mind at all if I could receive a salary in bitcoins at my main job, because I see only advantages in this, I am much calmer when my funds are invested in something more reliable than fiat, which is subject to inflation.

if the salary base is based on fiat, I don't think it's a problem, so every month we will earn different amount of bitcoins, because if monthly salary is based on bitcoins and we earn bitcoin amount every month, it will hurt us, because the bearish season lasts more longer than the bullish season. but to be honest I'm more comfortable with the current situation, we get fiat salaries, and we can invest as we wish in bitcoin, because after all fiat is recognized in our country, and all payment transactions use fiat in my country

That's what I want to say, we still feel more comfortable being paid in fiat and we will be more proactive in investing in bitcoin, we can buy as much as we want. If the market shows a strong bearish signal, we can wait to buy at a better price, we will buy more bitcoin with the same amount of fiat. This is also easy to see but I don't understand why many people don't see this advantage if our salaries are paid in fiat. Even they are doing it every day, they are still receiving their salary in fiat and always want to buy bitcoin at a cheap price, but they still don't realize.

[Nrcewker]

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

This is practically not possible. As Bitcoins price is not fix always, so the companies will refuse to pay using this. Moreover Bitcoins are so expensive that no organisation will like to giveaway it to their employees. Also if you see then many government haven’t yet legalised Bitcoins, so yes if they take payment through cryptos, then they might face legal warnings. So yes practically what OP is trying to say is not possible. Yes you can take payment for part time jobs, as these are not frequently tracked.

[Texac]

As long as fiat remains the main currency of the world, getting a salary in bitcoin or any other cryptocurrency will bring more disadvantages than benefits. I will decline if my main job is paid in bitcoin, I don't find it as interesting or convenient as many people are saying. Even I believe that even the salary we earn on this forum, many people will convert it into fiat as soon as payment is received. So, what is the convenience of getting a salary in bitcoin here?
We take our salary in fiat and then invest in bitcoin as much as we want, that's been going on for 14 years, and has anyone experienced any inconvenience?

Many on the forum understand the potential of bitcoin and will hold it, there are, of course, those who will cash it out and use this money, this is everyone's choice. And if you received a salary in bitcoins, then you could also exchange them for cash and there is nothing difficult, but the money that you can afford to save will immediately remain in your wallet in bitcoins, and I think this is very comfortable. I would not mind at all if I could receive a salary in bitcoins at my main job, because I see only advantages in this, I am much calmer when my funds are invested in something more reliable than fiat, which is subject to inflation.

But you still need fiat for your life, you can't survive without fiat, and if your salary is paid in fiat, you can also convert to bitcoin easily without having any trouble.  furthermore, I find converting from fiat to bitcoin helps us to be more financially proactive than converting from bitcoin to fiat. What happens when you get your salary in bitcoin and 1 hour later bitcoin drops 10%?   but if you get your salary in fiat, the bitcoin price drop gives you a bigger chance when bitcoin is already 10% cheaper.
We all invest in bitcoin because we believe in its potential, but is it okay for it to become a currency or a payment method because of its volatility?  as I know volatility is good when we use it for speculation, I have never heard that volatility is good when used in payments or currencies.

Salaries paid in bitcoin is a big relief for all the bitcoiners. This helps people to be strong against the inflation. As in the above statement, the volatility will cause big difference in the value received. This is the only flaw, however to overcome such issues it is good to receive certain percentage of salary in terms of bitcoin. So that the daily needs can be met with the fiat and the rest can be kept aside for long term. In between if things were supportive one can enjoy the profit and think of buy back when market drops. Volatility is good when we buy things with bitcoin and the price at its peak. When we buy things when bitcoin is at the bottom, later when there is rise in price we'll see the price of the product bought earlier having half the amount spent.

What is the big relief here? If you are paid in fiat, you can also invest in bitcoin with the amount you want, no one forbids you from that.  don't mention inflation here because it has nothing to do with it. whether you can fight inflation or not is up to you, I am also receiving my salary in fiat, and I am fine with inflation because I use fiat to invest in inflation-resistant assets.  It has nothing to do with whether you receive your salary in fiat or bitcoin as converting between them is easy.

Let's take a most practical example, are you working outside?  and is it problematic or difficult for you to use your salary to invest in bitcoin?  that alone is enough to prove whether paying in bitcoin is beneficial or not.

[dothebeats]

It would be hard to do it massively as a lot of commerce are still not open to accept bitcoin. As we all know there is still an existing mindset of the public about the negative views on using bitcoin. Though I do agree that it will be a good change specially in trading and international transaction, it is something that will take a long time for people to accept and adapt. Hopefully though, one day it will come to that.

So far, this will not be of any mass nature, since the average resident uses a salary for daily needs, and bitcoin is not yet adapted enough to be used as a fiat. But I would be happy if I were paid a salary in bitcoins, since I save part of my salary for buying bitcoin and, if necessary, I can easily convert bitcoin to fiat if necessary.

That is true, additionally bitcoin's value goes and up and down and hence is not stable enough as means for salary. A lot of workers will find this inconvenient as many uses their salary to pay for fix bills (like rents and loans) and so they will have a problem with the changes of bitcoin value. As far as possibility, it is far from ever happening.

[Jchris50]

You Know in this region like 50% of person are still out of the digital word, not everyone use a smart phone or know about Bitcoin

It's a nice thing but we all have to be in the digital system first which will go a long way...

[Victorik]

As nice as this may sound, it will be counter productive if implemented. Due to the fluctuation in the price of Bitcoin,it will be difficult to pay salaries with BTC, and also who will pay for the transfer fee, will be on the employee or the employer?
So, right now, it won't be a good choice to pay salaries in BTC.