Started getting paid 100% in Bitcoin starting with my last paycheck

[countryfree]

Congratulations Elwar! You're the most ardent BTC's fan I know.
If there were thousands like you, price of BTC would quickly jump back above $1,000.

One little question about bitwage: are they fast? How long does it take between the moment your employer pays them and you get the money in your wallet?

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[cakebet]

Whats the first thing you bought with your bitcoin paycheck?

[Elwar]

Congratulations Elwar! You're the most ardent BTC's fan I know.
If there were thousands like you, price of BTC would quickly jump back above $1,000.

One little question about bitwage: are they fast? How long does it take between the moment your employer pays them and you get the money in your wallet?

It is very fast. My company sends out the payroll on Thursday and I usually get paid on Friday, but looking at my e-mail, the first check showed going through on Friday my second check showed it going through on Thursday. Some of my co-workers use USAA so they get paid on Thursday, most regular banks have always given me a delay.

If you are looking for a better estimate I will pay closer attention to the time next paycheck.

[Elwar]

Whats the first thing you bought with your bitcoin paycheck?

I spend bitcoins all the time, it's like pulling out a credit card by now. The first thing after my last paycheck was probably a plane ticket to London for the London expo using cheapair.com

[countryfree]

Congratulations Elwar! You're the most ardent BTC's fan I know.
If there were thousands like you, price of BTC would quickly jump back above $1,000.

One little question about bitwage: are they fast? How long does it take between the moment your employer pays them and you get the money in your wallet?

It is very fast. My company sends out the payroll on Thursday and I usually get paid on Friday, but looking at my e-mail, the first check showed going through on Friday my second check showed it going through on Thursday. Some of my co-workers use USAA so they get paid on Thursday, most regular banks have always given me a delay.

If you are looking for a better estimate I will pay closer attention to the time next paycheck.

Oh, very good. Thanks for info. If it's only a day, that's fine. I was afraid it would take much longer.

[neurotypical]

Whats the first thing you bought with your bitcoin paycheck?

I spend bitcoins all the time, it's like pulling out a credit card by now. The first thing after my last paycheck was probably a plane ticket to London for the London expo using cheapair.com

If people got paid in BTC they would spend them on regular comodities too. Unfortunately if you own Bitcoin, most likely you paid for it with fiat, so most likely you are going to treat it as something rare, not worth spending it in something mundane so you rather hoard it. Thats what I do unless I find a way to get paid with BTC.

[Possum577]

Interesting! Make sure you have at least a nominal amount of regular FIAT money so you are not screwed in case the Bitcoin experiment goes belly-up at any point! It is an interesting ride, but we should never forget about the volatile and experimental nature of this whole endeavour!

Bitcoin is destined to completely replace every kind of fiat currency by the end of 2015. It can't go wrong.

Only if countries disappear. What makes you think that countries would just abandon their currency for one they cannot control?

[panju1]

Interesting! Make sure you have at least a nominal amount of regular FIAT money so you are not screwed in case the Bitcoin experiment goes belly-up at any point! It is an interesting ride, but we should never forget about the volatile and experimental nature of this whole endeavour!

Bitcoin is destined to completely replace every kind of fiat currency by the end of 2015. It can't go wrong.

Only if countries disappear. What makes you think that countries would just abandon their currency for one they cannot control?

If all world trade starts happening in BTC and there are tangible benefits associated with adopting BTC, I am sure countries will have an open mind.

[doggieTattoo]

Congratulations Elwar! You're the most ardent BTC's fan I know.
If there were thousands like you, price of BTC would quickly jump back above $1,000.

One little question about bitwage: are they fast? How long does it take between the moment your employer pays them and you get the money in your wallet?

It is very fast. My company sends out the payroll on Thursday and I usually get paid on Friday, but looking at my e-mail, the first check showed going through on Friday my second check showed it going through on Thursday. Some of my co-workers use USAA so they get paid on Thursday, most regular banks have always given me a delay.

If you are looking for a better estimate I will pay closer attention to the time next paycheck.

How do they protect themselves from fake direct deposits? or direct deposits that end up getting returned for various reasons? or do they only accept direct deposits from certain employers?

[Elwar]

Congratulations Elwar! You're the most ardent BTC's fan I know.
If there were thousands like you, price of BTC would quickly jump back above $1,000.

One little question about bitwage: are they fast? How long does it take between the moment your employer pays them and you get the money in your wallet?

It is very fast. My company sends out the payroll on Thursday and I usually get paid on Friday, but looking at my e-mail, the first check showed going through on Friday my second check showed it going through on Thursday. Some of my co-workers use USAA so they get paid on Thursday, most regular banks have always given me a delay.

If you are looking for a better estimate I will pay closer attention to the time next paycheck.

How do they protect themselves from fake direct deposits? or direct deposits that end up getting returned for various reasons? or do they only accept direct deposits from certain employers?

From what someone else mentioned, they are working directly with the payroll companies. So it is likely that they know when the payroll company releases the money, from which company and for which employee. At the very least, when they receive the deposit they see the company that did the deposit.

It does not look very easy to duplicate so they will likely not see competition soon, and it is not something that will be easy to copy in other companies unless you work in the payroll industry.

[BitmoreCoin]

If you convert all your salary into BTC and sell some of them in localbitcoins.com for day to day living, you might break the law if your total transaction is over certain limit.

[Elwar]

If you convert all your salary into BTC and sell some of them in localbitcoins.com for day to day living, you might break the law if your total transaction is over certain limit.

Which law allows you to sell something but only up to a certain amount?

[Oscilson]

If you convert all your salary into BTC and sell some of them in localbitcoins.com for day to day living, you might break the law if your total transaction is over certain limit.

Which law allows you to sell something but only up to a certain amount?

I think so in the US. If your transaction is too high, then you are a money transmitter.

[Elwar]

If you convert all your salary into BTC and sell some of them in localbitcoins.com for day to day living, you might break the law if your total transaction is over certain limit.

Which law allows you to sell something but only up to a certain amount?

I think so in the US. If your transaction is too high, then you are a money transmitter.

I'm not in the US. p2p transactions are legal where I live

[Elwar]

Got paid at a rate of $212/BTC this paycheck. Needless to say, my bitcoin amount was much higher than last paycheck.

[BitmoreCoin]

Got paid at a rate of $212/BTC this paycheck. Needless to say, my bitcoin amount was much higher than last paycheck.

Great! I hope you will get fewer and fewer BTC in the future. Just another way to say BTC will rise.

[sandpaper]

Got paid at a rate of $212/BTC this paycheck. Needless to say, my bitcoin amount was much higher than last paycheck.

Great! I hope you will get fewer and fewer BTC in the future. Just another way to say BTC will rise.

Keep it low for a bit for his sake and then have it rise. Let him accumulate some for taking this sort of task on! =)

[Satpush]

Does bitwage take any fees out?

[Elwar]

Does bitwage take any fees out?

not during Beta

[knocte]

I set up my direct deposit to the account number they provided me...

I wonder if this can be done with other things that are not exactly wages? For example revenue from AirBNB?