What if salaries were paid in BTC

[Z-tight]

If some of the employees want their salaries paid in BTC and the employer can provide that for them, then it is a good idea, but i don't think that BTC should be the first choice currency when it comes to payment of salaries. Most workers spend their salary as soon as they get it and they only send some of it into their savings account, so if you pay them their salaries in BTC and they have to immediately liquidate it, then it is better to just pay them in fiat.

What i support is for BTC to be an option for payment of salaries, and there will be pro Bitcoiners who will like to use that, but personally i will not like to receive my salary in BTC, i will prefer to receive my salary in fiat and buy BTC with a part of it and the rest to foot the bills and for other purposes.

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[GiftedMAN]

I think this is going to be way easy for counties which are bitcoin friendly but the big question is this, will it bring any positive change to the country or will it help the staff salaries get to them faster? A country that sees more value in bitcoin than thier local fiat will consider doing this but there will be big challenges because not everyone will have access to smart phones to make some bitcoin transactions in this case, I think majority of the citizens of the particular country will kick against it because there so many advanced people who may not be smart to have control of their keys.

[jeraldskie11]

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

In my opinion, fiat will never be replaced by Bitcoin but there's a chance that sooner Bitcoin will be used as legal tender where you can buy anything through Bitcoin. For now, since Bitcoin is so volatile, it will be difficult for some countries to accept this as legal tender but there are some establishments and businesses already that accept Bitcoin as payment and it should be a good start for Bitcoin adoption.

[mendace]

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

Well your friend is not mistaken, I know that even here in Italy in the Bitcoin valley in Rovereto some employees get paid in bitcoins and this has also been documented on a television service that was broadcast in Italy.  Obviously this can make sense if there are many points of sale in the city that accept Bitcoin, in practice a circular economy is created.

[Pokapoka124]

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 level of adoption will be a big boost to the bitcoin ecosystem, I think it will be more easy in countries like El Salvador that accept bitcoin as legal tender You have to consider the risks (volatility) of bitcoin. It may be very appealing to you because you have a sound background in bitcoin but it will be very confusing for others who are crypto noobs. If you receive your total salary in bitcoin, how will you pay your bills since bitcoin isn’t yet a legal tender in most countries, you still would have to covert bitcoins to fiat.

[Issa56]

A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.

This will only be possible in countries that bitcoin is accepted, but it’s impossible in countries that bitcoin is ban. Also in countries that bitcoin is accepted, they shouldn’t make it mandatory for everyone, they have to make it optional for people to choose between bitcoin and their local fiat currency, nobody should be forced to accept bitcoin, because am sure some people will still prefer to be paid in their local currency than in bitcoin, most people that don’t about bitcoin will prefer to accept local currency, because they believe it will be easier for them.

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

Government won’t allow bitcoin to replace fiat currency, they will do everything possible to stop that, but we also are not expecting bitcoin to replace fiat currency because that’s not the purpose why it was created, bitcoin was created just to serve as alternative currency, so all what we want the government to do is just to accept bitcoin and we are not dragging to replace their fiat currency, all what we need is that bitcoin should be allowed to be spent freely, incase you visit a store and you not having fiat currency, you can pay for things you bought with bitcoin.

[sheenshane]

A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
I thought 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

That's possible but still, there's a problem that remained existed, volatility remains a significant issue with Bitcoin, and receiving salaries in a highly fluctuating currency might expose employees to financial risks from their up and down value.  It could complicate taxation and other legal aspects, creating uncertainties for both employers and employees.  I start thinking about the governments that might possibly be hesitant to allow fiat to be entirely replaced by Bitcoin as it could lead to difficulties in monitoring and regulating economic activities.

So for now, let's accept that Bitcoin is good for alternating for fiat but not totally a replacement for fiat.
Yes, that's likely will happen depending on which country it is.

[Wend]

If that happens, bitcoin investors like us will love it, but for people who don't invest in bitcoin and they like stability, I don't think they will. Moreover, to do that, bitcoin needs to be legalized and regulated by the government because how can the government manage and collect taxes if companies pay salaries in bitcoin? So, I don't think that's possible. Not to mention its volatility, do you want your salary to depreciate 10% or 20% after a day? I bet a lot of people don't like it.

[Asuspawer09]

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 mean I wouldn't mind receiving Bitcoin as my salary, actually, it's great since I could easily invest my salary in Bitcoin, but there might be some complications for other people since its possible that they are not familiar with Bitcoin but their salary is bitcoin, also the volatile market price is also a thing here because right after they received their salary it might be lower than the promised salary. For me, bitcoin really is not yet suitable to become something like a currency in my opinion bitcoin is great as an investment just because of the volatile market price and its potential because of the limited supply. The government won't easily allow it because we have fiat currency for sure, but there are some governments that support Bitcoin so maybe it is possible in some countries if they really wanted.

Still, if it is going to happen it is going to be a big boost to Bitcoin since it just means that we have already adopted Bitcoin I dont think the government is going to use Bitcoin since they surely used fiat money instead of Bitcoin but chances are big private companies that support bitcoin could easily implement this idea.

[Adbitco]

First what you should put in consideration is for it to be legalized and after that government may put it in consideration to start implement the use of cryptocurrency as general payment system to their workers. Do not go into blind argument knowing too well such country has not adopt bitcoin yet  whatsoever may be the reason for argument I don't think you should go into it. Besides this could be a challenge task for any government to basically stops using their currency to pay workers than other digital currency, private sector might be able to use it but not government because government they said is Anti-bitcoin.

[hatshepsut93]

How do you imagine salaries getting paid in BTC? People asking to be paid in BTC and their employers obliging? Or employers just leaving no option for their workers? Because if its the latter, then people would be just dumping BTC on the market, which would crash Bitcoin so hard that it would stop being a viable currency.

[romero121]

In very few companies this have been followed, and I'm not sure of the company names. Even in those companies everything is paid depending on the willingness of the employee and not mandatory. For people who move specific amount of their salary into bitcoin investment can prefer to receive in terms of bitcoin and the necessary amount alone can be converted to cash for their life needs.

There is a controversy that the person could get additional or less salary depending on the varying price of bitcoin. According to me, salary needs to be paid equivalent to the market USD value received earlier based on current day's market value. Further it is the employee's decision whether to hold or cash it out. This is really appreciable effort, but not many support this.

[JoyMarsha]

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

When bitcoin became legal tender on a global scale, this type of discussion about bitcoin being used to pay salaries and wages would have made sense to have. At that point, we could have started to consider whether it would be appropriate for the government to offer its citizens the option of receiving salaries and wages in bitcoin or not.

Considering that Bitcoin hasn't been widely used. This makes it difficult for something like that to start happening or for us to reason why the government should have our salaries and wages paid in bitcoin. 

[n0ne]

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

When bitcoin became legal tender on a global scale, this type of discussion about bitcoin being used to pay salaries and wages would have made sense to have. At that point, we could have started to consider whether it would be appropriate for the government to offer its citizens the option of receiving salaries and wages in bitcoin or not.

Considering that Bitcoin hasn't been widely used. This makes it difficult for something like that to start happening or for us to reason why the government should have our salaries and wages paid in bitcoin. 

It isn't too early to discuss. Similar discussion will surely make some of the small scale firms encourage paying the salaries in terms of BTC. Same time people will also get awareness of similar possibilities. Legality of bitcoin is much needed for such things to happen around. The usage of bitcoin is limited, but it have multiple access which is the best part. At any point the governments won't show interest as they fear of making money out of taxation.

[Wimex]

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 would be quite hard to tell whether giving people salaries using bitcoin would be beneficial for a country. The main concern is that bitcoin's price fluctuates a lot and making it unsuitable as a stable form of salary and I think that not all countries have officially accepted bitcoin as a digital currency yet.

Perhaps, in the future such a scenario like that could happen but I don't believe they will completely replace fiat currencies. For decades people have been using fiat currency to purchase goods and services and it remains an essential part of our financial system.

Let's put this point in a different perspective, let's imagine that bitcoin is already legal in many parts of the world, double what it is currently, so now the problem of salaries being paid in bitcoin would be its volatility, but said instability is compared both by demand as well as by fiat currencies, that is, even though this asset is decentralized, we value it according to the exchange rate of a centralized currency, so I think that if we take Taking this into account, the question of whether or not a salary can be paid in bitcoin would change, since payments could be made in bitcoin but maintain a standard value such as the dollar and simply cancel according to how the rate was found.
But of course, this could be taken as an option for the employees, where they can decide whether they want a payment in this currency or prefer the traditional one, since as you indicate, there are many who still do not trust bitcoin and despite the fact that the government accepts it, the recession of those who do not agree continues... so for this to be possible in the future, they will have to try to please both parties.

[GreatArkansas]

How do you imagine salaries getting paid in BTC? People asking to be paid in BTC and their employers obliging? Or employers just leaving no option for their workers? Because if its the latter, then people would be just dumping BTC on the market, which would crash Bitcoin so hard that it would stop being a viable currency.

It means that different people got different opinions. Some people intend to stay with what they have now which is in fiat, traditional way. We can't force them to use Bitcoin.
While on the other side, some people already know Bitcoin and are willing to accept Bitcoin for their salaries, we must respect it also.
That's why I really love to see a lot of options when you receive your salary. More exposure to Bitcoin will help Bitcoin ecosystem adaption but people must learn how Bitcoin works.

[xSkylarx]

There must be a reason why your friend told you about it, but you haven't stated it in your story OP. No matter what, big companies or even countries won't do this unless they are like El Salvador, but right now it is difficult to do this because they are already used to physical money, and for sure there will be a bunch of people that are not technologically inclined, which will make it hard for them to exchange it for their own currency.

[Darker45]

To the Bitcoin ecosystem, it might be a positive move because it means adoption. It might also push the price up because companies would then accumulate Bitcoin to be able to pay their workers. However, on the part of the workers, it's going to be a double-edged sword. Especially if you are a worker who is fully dependent on your salary, there's no way you can make the most of Bitcoin's volatility all the time. There will surely be times when you will be forced to convert your coins at a much lower fiat value. We need to remember that the world out there is not using the Bitcoin standard.

[rikybrosh]

bitcoin price is volatile maybe for now it is not so practical. also maybe government will not allow that, and actually we always can buy BTC from local exchange. what I really hope is there are more ads networks that using bitcoin. For freelance app developers or bloggers, if we can recieve payment in form of  BTC then it will be good because the transactions will be more secure and no one can freeze our funds. I hope there are more new project about cryptocurrency ads networks. for now i only know cointraffic.io that still exist.

[Ale88]

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

Several people around the world are already getting paid in bitcoin, some of them even 100% of their salary, others just a portion. Of course, in general, governments don't like bitcoin but unless they declare it illegal then there is nothing they can do if someone chooses to be paid in bitcoin and the company he works for is ok with doing that. I mean, you can also get paid in pizzas if you want to.