Employees in Canada Opting For Salaries In Bitcoin

[kolloh]

Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.

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[AtheistAKASaneBrain]

Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.

And what can you do to prevent that from happening? You can either prohibit it (stupid) or give merchants incentives to keep their Bitcoins instead of dumping their for their local fiat (so far not very productive unless you want simply to hold and speculate with the price).

[Sindelar1938]

Still a bloody long way to go before a meaningful no: of non tech folks will be okay getting part of their salary in btc
Incredible merchant adoption and mainstreaming required for that

[pawel7777]

Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.

And what can you do to prevent that from happening? You can either prohibit it (stupid) or give merchants incentives to keep their Bitcoins instead of dumping their for their local fiat (so far not very productive unless you want simply to hold and speculate with the price).

If the merchants accepting bitcoin would pay their employees in bitcoins (in full, or partially) that would reduce the dumping to some degree. I think that's what he meant.

Sure, the employees could convert to fiat on the same day, but it's more likely some of them would decide to hold, especially if they opted to be paid in bitcoins voluntarily.

[panju1]

Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.

And what can you do to prevent that from happening? You can either prohibit it (stupid) or give merchants incentives to keep their Bitcoins instead of dumping their for their local fiat (so far not very productive unless you want simply to hold and speculate with the price).

If the merchants accepting bitcoin would pay their employees in bitcoins (in full, or partially) that would reduce the dumping to some degree. I think that's what he meant.

Sure, the employees could convert to fiat on the same day, but it's more likely some of them would decide to hold, especially if they opted to be paid in bitcoins voluntarily.

Even if they spend their bitcoins (and assuming the merchants don't convert it to fiat immediately), if would be good for the bitcoin economy. As long as those bitcoins don't land up in exchanges, the price will be supported.

[OrientA]

[quote author=panju1 link=topic=768460.msg9224711#msg9224711 date=1413478032

Even if they spend their bitcoins (and assuming the merchants don't convert it to fiat immediately), if would be good for the bitcoin economy. As long as those bitcoins don't land up in exchanges, the price will be supported.
[/quote]

Circulation of BTC supports its value.

[DhaniBoy]

I think this is a good choice for workers in Canada, because it is now a rising bitcoin prices rise, the price of the exchange rose make per capita opinion of workers in Canada will increase, then welfare will increase, but the be a problem if the infrastructure in Canada has been good for bitcoin transaction? bitcoin transactions desperately need a stable internet connection, and of course a stable internet require an electrical power source is good, that which has a back up in case of power outages in the country ... 

[santaClause]

Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.

And what can you do to prevent that from happening? You can either prohibit it (stupid) or give merchants incentives to keep their Bitcoins instead of dumping their for their local fiat (so far not very productive unless you want simply to hold and speculate with the price).

If the merchants accepting bitcoin would pay their employees in bitcoins (in full, or partially) that would reduce the dumping to some degree. I think that's what he meant.

Sure, the employees could convert to fiat on the same day, but it's more likely some of them would decide to hold, especially if they opted to be paid in bitcoins voluntarily.

Even if they spend their bitcoins (and assuming the merchants don't convert it to fiat immediately), if would be good for the bitcoin economy. As long as those bitcoins don't land up in exchanges, the price will be supported.

Any bitcoin that are paid to employees will ultimately need to be purchased on an exchange (likely from customers who paid in bitcoin to the company) so there would be a net effect of buying pressure on the bitcoin market

[raveldoni]

News like this make people believe in bitcoin future. It's necessary for people to understand the actual benefit of bitcoin or cryptocurrency concept and those who understand have already started looking for accepting payment/salaries in bitcoins.

[OrientA]

Any bitcoin that are paid to employees will ultimately need to be purchased on an exchange (likely from customers who paid in bitcoin to the company) so there would be a net effect of buying pressure on the bitcoin market

The actual use of BTC is good for the value.

[LightningBlade]

This is really good news, next they need to learn how to secure the wallet before they lost their salaries....