Imagine African countries using Bitcoin to pay salaries,

[Dickiy]

Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

What African governments need to consider is their economic and monetary policies, because adopting Bitcoin as a payment option means impacting changes on policy and also on traditional finance itself. It all depends on how stable the currency is as well as public support for the Bitcoin payment option, whether they know each disbursement process. Nigeria itself has been around for quite a long time and could be said to be Bitcoin friendly and even then it depends on the region whether it is really used to the digital payment system. Because what often becomes an obstacle for the government is access plus establishing regulations. To achieve payments using Bitcoin, the most important fundamental thing is that lower middle class people receive education and training on how to use Bitcoin well and understand the volatility of the Bitcoin market, especially workers and entrepreneurs who will receive these payments..

[1714642876]

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[DrBeer]

Introducing bitcoin as a means of payment, or introducing Etherium, or introducing Avalanche will not solve anything. As many examples have shown, when people tried to slip populist solutions to distract from real problems, and from solving real problems rather than manipulating the consciousness of citizens. The best example is El Petro (petro), a cryptocurrency developed by the Venezuelan government. Instead of taking real steps to solve economic problems, to fight corruption, to restore normal relations on the world market, the government decided to give itself a head start by telling people the fabulous result of replacing one unit of account with another. I predicted the result even at the beginning of this "project" - the only useful solution is an opportunity for the anti-people rulers to stay in power....

Once again - no replacement of units of account will not fix the problems of the economy.

[slapper]

Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

What African governments need to consider is their economic and monetary policies, because adopting Bitcoin as a payment option means impacting changes on policy and also on traditional finance itself. It all depends on how stable the currency is as well as public support for the Bitcoin payment option, whether they know each disbursement process. Nigeria itself has been around for quite a long time and could be said to be Bitcoin friendly and even then it depends on the region whether it is really used to the digital payment system. Because what often becomes an obstacle for the government is access plus establishing regulations. To achieve payments using Bitcoin, the most important fundamental thing is that lower middle class people receive education and training on how to use Bitcoin well and understand the volatility of the Bitcoin market, especially workers and entrepreneurs who will receive these payments..

Africa's economic and monetary policies, including Bitcoin adoption, are at a crossroads. Beyond being Bitcoin-friendly, you must comprehend digital currency's dynamics in a typical financial setting. Nigeria may lead, but what about other regions? It's not uniform. Regions, difficulties vary. Let's not even mention Bitcoin's volatility - a fantastic rollercoaster for the brave

Lower middle-class education and training? An absolute must. We're not simply educating people how to use Bitcoin; we're also discussing its effects on their daily life. And the government? Their job is vital in fostering innovation and public safety through regulation. They should take on the issue of balance. Bitcoin adoption is a step toward economic empowerment and inclusivity, not merely a financial decision. Progress is about that, right?

[bettercrypto]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,
With the services of some crypto currency payroll agencies  like Bitwage,papaya global, ontop,  which will make it possible for the government to pay their workers in Bitcoin or other crypto currencies and can be sent  into their digital wallet,
Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

Why did the African country announce something about that matter—that the companies in their country will pay Bitcoin to the employees that the companies have? As far as I know, there seems to be no such news yet. Also, I have never heard of a company in the world that pays their employees in Bitcoin instead of their fiat currency.

Moreover, in these times, it seems that it is also not advisable or recommendable to pay bitcoin for employees' wages. Because of opportunities like this in these times of approaching halving and bull runs, every bit of bitcoin is very important.

[0t3p0t]

Why did the African country announce something about that matter—that the companies in their country will pay Bitcoin to the employees that the companies have? As far as I know, there seems to be no such news yet. Also, I have never heard of a company in the world that pays their employees in Bitcoin instead of their fiat currency.

Well, based on my understanding, OP is trying to say like "what if" African countries will try to use Bitcoin as payment for their employees? I think this is complicated to do but maybe possible of both parties the government and the employees will agree to the mode of payment but for me it is unlikely to happen due to the risk of volatility.

[Gozie51]

Moreover, in these times, it seems that it is also not advisable or recommendable to pay bitcoin for employees' wages. Because of opportunities like this in these times of approaching halving and bull runs, every bit of bitcoin is very important.

You won't say it is not advisable to pay workers with bitcoin except you are talking about the internet challenge and the volatility which happens to be the challenge so far because the price can change at landing and some people might feel cheated with that or feel it is an intentional act that the sender reduced the quantity of coins. If not for such volatility doubt, nothing is wrong with sending someone who is knowledgeable about bitcoin his salary through his wallet. Afterall people still trade on P2P and arbitrage.

[Humblevirus]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,

Many governments in Africa are finding it difficult to adopt bitcoin and talk of paying their workers in bitcoin. I don't even think that even countries that have adopted Bitcoin will plan on paying their workers in bitcoin. I don't really think it will make more sense for any government to be paying their workers in bitcoin. Due to the volatile nature of bitcoin, the price is always fluctuating, so if workers are paid in bitcoin, it will affect some workers because some of them may lose money in the bitcoin market, which is not stoppable.
 
And even in some countries, governments have to start paying their workers in bitcoin. I don't think it will start in African countries because I believe the rate of internet ignorance is very high, and if possible, any African country will start paying their workers; it will not be in this current generation, it will be in a generation with some level of ignorance in African countries.
 
In short, I don't think Bitcoin was created to replace fiat money; it was created for the purpose of privacy, and I am sure people's privacy is what governments don't really want, so I think it will be so hard for the government to pay workers in bitcoin.
 
 

[suzanne5223]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,

Nothing is impossible especially now that the most respected investment companies have an interest in Bitcoin. With that being said, the citizens of Nigeria appear to be enthusiasts of cryptocurrency but the stance of their government appears not to support BTC which shows that what you said can't happen for now in the country.
Central Africa Republic is the only African country with the possibility of using BTC to pay salaries.
I believe other African countries governments will never like the idea of paying their worker's salaries in BTC which will limit their fiat currency usage.

It will take a very long time and so effort for a country like Nigeria to fully legalize and adopt bitcoin.

The same thing applies to every country, if not a country like the US should have legalized Bitcoin. However, the drawback of the legalization of BTC is from the government due to their lack of understanding about BTC and their stance toward decentralization.

But despite that the country has not adopted bitcoin to run the economical affairs of the country,there are so many core users and deep cryptocurrency enthusiast's that value bitcoin to their fait currency.

Even if the country legalized BTC is it not a must they use BTC to operate their economic affairs. The purpose of using BTC is to serve as an alternative tool that will maximize the country's economy.

[WillyAp]

I think African countries have similar issues as Latin America.
Companies not paying much for people just biding their time, the skill level mainstream is pretty low.
In South America companies are not investing into their labour force. 

[LastKiss]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,
With the services of some crypto currency payroll agencies  like Bitwage,papaya global, ontop,  which will make it possible for the government to pay their workers in Bitcoin or other crypto currencies and can be sent  into their digital wallet,
Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

If we want to Africa start paying salaries in Bitcoin they should expand their Internet scope cause what I know is not the majority of African people can't access the Internet tho. Rather than expecting African countries to start paying salaries in Bitcoin in a short time their people are already able to earn Crypto online in many ways and it will boost their knowledge about cryptocurrencies.

[FinneysTrueVision]

In some countries the average salary is less than what you can earn in a signature campaign on Bitcointalk. I imagine fees could be an issue for these people. You could probably find a workaround using Fedimint or something custodial.

In general, it is positive if employers want to pay their workers in Bitcoin. In cases where there are accounting errors we will always have a permanent record on the blockchain to be able to correct mistakes.

[Promocodeudo]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,
With the services of some crypto currency payroll agencies  like Bitwage,papaya global, ontop,  which will make it possible for the government to pay their workers in Bitcoin or other crypto currencies and can be sent  into their digital wallet,
Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

OP, have you ever thought of this, if the government for example decides to pay salaries with bitcoin don't you think their will extra charges, the transaction fee is high and the fee that will be used in facilitating the payment can be channeled into other stuff, if African countries government eventually do this which I know that is wont be possible, it wouldn't change anything, what African need is eradication of poverty in the land not payment of salary with Bitcoin, poverty has dealt with Africa to the extent that the leaders should be considering a means of bringing their people people out of it with the resource available.

[Rockstarguy]

Introducing bitcoin as a means of payment, or introducing Etherium, or introducing Avalanche will not solve anything. As many examples have shown, when people tried to slip populist solutions to distract from real problems, and from solving real problems rather than manipulating the consciousness of citizens. The best example is El Petro (petro), a cryptocurrency developed by the Venezuelan government. Instead of taking real steps to solve economic problems, to fight corruption, to restore normal relations on the world market, the government decided to give itself a head start by telling people the fabulous result of replacing one unit of account with another. I predicted the result even at the beginning of this "project" - the only useful solution is an opportunity for the anti-people rulers to stay in power....

Once again - no replacement of units of account will not fix the problems of the economy.

Exactly,  government deciding to pay workers in bitcoin will not solve anything about financial crisis and economic problems of s countries if things to be look into are not solved accepting bitcoin won't do any much different for the economy.  The main thing Africa governments needs to look into before accepting bitcoin and for payment of workers salary is for them to learn good management of funds, if their is no good management of funds and to make good investment i don't think accepting bitcoin will make any difference.  Its just like an investor that lacks good management, the problem of lack of investment will definitely affect decision to accept Bitcoin or pay workers in bitcoin.  Good management of fund is what Africa needs to help the economy.

[retreat]

As far as I know, until now there is no country in Africa where local companies pay their employees' salaries using Bitcoin. Perhaps these companies consider that using Bitcoin will increase the company's burden since they need to invest in it and incur fees to pay for each transaction. And also employees might object to the rule because they have to exchange the Bitcoins they earn into fiat for their needs. These reasons may be the underlying reasons why companies do not pay their salaries in Bitcoin to their employees even though their countries allow Bitcoin to be used as legal tender.

[Mate2237]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin,

No African country has announced the full adoption of Bitcoin as legal tender aside the central Africa republic who is the only country in Africa that have adopted Bitcoin as an alternative and even at that,  they have not made it known whether or not Bitcoin is used as an official currency for workers salaries,  although we already are aware of the sceptical nature of many governments towards bitcoin and many of the countries have been on attacking mode and the majority give a red light to Bitcoin adoption.

So for that,  we are still far from achieving that state where an African country will adopt Bitcoin to pay salary,  and not even El Salvador who was the first country to adopt Bitcoin has not implemented that law in its system yet.

Even Central Africa Republic adoption of bitcoin too is in low key because after the announcement of their adoption of bitcoin as their legal tender, I have not heard anything from them again. Or is it that they not much in this forum? Because I have not even seen their posts in the forum. And if really African countries accept bitcoin and using it to pay salary then the inflation level would come down because the use of local currency will reduce and one the uses of local currency is reduced then the demand of dollar rate in the continent will also reduces them dollar will fall out from the continent.

Accepting bitcoin in all sectors of the governmental institutions is what we are hoping to see and do in the region we are really tired of the high inflation in the continent.

[Wiwo]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin,

Edith

Even Central Africa Republic adoption of bitcoin too is in low key because after the announcement of their adoption of bitcoin as their legal tender, I have not heard anything from them again. Or is it that they not much in this forum? Because I have not even seen their posts in the forum. And if really African countries accept bitcoin and using it to pay salary then the inflation level would come down because the use of local currency will reduce and one the uses of local currency is reduced then the demand of dollar rate in the continent will also reduces them dollar will fall out from the continent.

Accepting bitcoin in all sectors of the governmental institutions is what we are hoping to see and do in the region we are really tired of the high inflation in the continent.

Well for the fact that Nigeria still remains the only African country that have the highest volume of bitcoin transactions shows that even those countries that have made public acceptance of bitcoin are still on a very low key level and still very far from being called a fully bitcoin legal tender country, any ways we also have to look at the the other end of things such as the level of bitcoin usage within the country and what the total bitcoin volume are based on the total adoption level in the country.

So for that, we are all aware of the fact that bitcoin usagebliity in Nigeria is still very high even higher than what we have in the central Republic who is already a bitcoin legal tender country.

[DrBeer]

Introducing bitcoin as a means of payment, or introducing Etherium, or introducing Avalanche will not solve anything. As many examples have shown, when people tried to slip populist solutions to distract from real problems, and from solving real problems rather than manipulating the consciousness of citizens. The best example is El Petro (petro), a cryptocurrency developed by the Venezuelan government. Instead of taking real steps to solve economic problems, to fight corruption, to restore normal relations on the world market, the government decided to give itself a head start by telling people the fabulous result of replacing one unit of account with another. I predicted the result even at the beginning of this "project" - the only useful solution is an opportunity for the anti-people rulers to stay in power....

Once again - no replacement of units of account will not fix the problems of the economy.

Exactly,  government deciding to pay workers in bitcoin will not solve anything about financial crisis and economic problems of s countries if things to be look into are not solved accepting bitcoin won't do any much different for the economy.  The main thing Africa governments needs to look into before accepting bitcoin and for payment of workers salary is for them to learn good management of funds, if their is no good management of funds and to make good investment i don't think accepting bitcoin will make any difference.  Its just like an investor that lacks good management, the problem of lack of investment will definitely affect decision to accept Bitcoin or pay workers in bitcoin.  Good management of fund is what Africa needs to help the economy.

You are absolutely right !
And I am very sorry to see how the residents of some countries are once again being manipulated by the government, telling them fairy tales about how they will become rich after they replace their currency with Bitcoin. It all ends with this:
- a lot of time will be lost
- there will be no positive result
- the people will continue to remain in the role of a fool who is manipulated, most likely by a highly corrupt government
- the population will again come up with a new “culprit” for the failure of the project, and it will be anyone except those who promoted this fake.

As a result, the population will become even poorer, the authors of the project will become richer, everything will go into a new circle - a new fabulous “salvation” project, and so on in a spiral many times over. Until the people understand that they are being manipulated and the government is not solving real problems, but is only making money

[tyz]

Why did the African country announce something about that matter—that the companies in their country will pay Bitcoin to the employees that the companies have? As far as I know, there seems to be no such news yet. Also, I have never heard of a company in the world that pays their employees in Bitcoin instead of their fiat currency.

Well, based on my understanding, OP is trying to say like "what if" African countries will try to use Bitcoin as payment for their employees? I think this is complicated to do but maybe possible of both parties the government and the employees will agree to the mode of payment but for me it is unlikely to happen due to the risk of volatility.

Some people here wish that, no African country has yet announced that and will not, that it is economic suicide to introduce Bitcoin as the first currency in a country. Not even Ecudador has dared to do that; although Bitcoin is an official means of payment there, the main currency is still the US dollar.