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

[Elwar]

I work for General Dynamics, a company that is suckling on the US government's teet. They would never risk their sweet military industrial complex relationship with the government by accepting bitcoins.

I use bitwage.co (I do not work for them, just happy that I can get paid in Bitcoin).

I set up my direct deposit to the account number they provided me and my last paycheck it was all converted to bitcoins automatically. My bank never saw a penny of my paycheck.

That is the first step in dumping my bank forever.

For spending money I usually sell on localbitcoins for a profit anyway so I always have some cash on hand. And pretty much anything I want online can be paid in Bitcoin.

[1713888504]

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[Kipsy89]

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!

[ncsupanda]

Bitwage has always been interesting to me - I am planning a job with them over the summer and I'm curious about your overall experience and if you have any suggestions about the service you received.

[MicroGuy]

I work for General Dynamics, a company that is suckling on the US government's teet. They would never risk their sweet military industrial complex relationship with the government by accepting bitcoins.

I use bitwage.co (I do not work for them, just happy that I can get paid in Bitcoin).

I set up my direct deposit to the account number they provided me and my last paycheck it was all converted to bitcoins automatically. My bank never saw a penny of my paycheck.

That is the first step in dumping my bank forever.

For spending money I usually sell on localbitcoins for a profit anyway so I always have some cash on hand. And pretty much anything I want online can be paid in Bitcoin.

This is awesome! Thanks for the head's up about bitwage.co! 

[canary]

'Dumping a bank forever'

It really sounds cool man, congrats on your first step about taking paycheck with BTC

[Bobsurplus]

I work for General Dynamics, a company that is suckling on the US government's teet. They would never risk their sweet military industrial complex relationship with the government by accepting bitcoins.

I use bitwage.co (I do not work for them, just happy that I can get paid in Bitcoin).

I set up my direct deposit to the account number they provided me and my last paycheck it was all converted to bitcoins automatically. My bank never saw a penny of my paycheck.

That is the first step in dumping my bank forever.

For spending money I usually sell on localbitcoins for a profit anyway so I always have some cash on hand. And pretty much anything I want online can be paid in Bitcoin.

Congrats... It must feel good eh?

If I had a job I'd use this service for sure..

I wonder how many others like you are out there using this service.

This could actually be some real big business if done right!

Anyway... Congrats again!

[LiteCoinGuy]

cool stuff  

i would start with 10% monthly 

[Elwar]

Bitwage has always been interesting to me - I am planning a job with them over the summer and I'm curious about your overall experience and if you have any suggestions about the service you received.

The service was great. They have an online chat, I brought many complications with me because my phone number is German but I get paid in the US. They require phone verification but I doubt they did any testing with overseas numbers so they had to fix a few things to get my account working. They're still in Beta so I expected a few bumps but am surprised at how well it works.

[Elwar]

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!

Even if Bitcoin drops to $1 I have another paycheck coming in 2 weeks so...no biggie. Like I said, I sell on localbitcoins to get cash so I always have some spending money.

[bg002h]

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!

Even if Bitcoin drops to $1 I have another paycheck coming in 2 weeks so...no biggie. Like I said, I sell on localbitcoins to get cash so I always have some spending money.

I'm definitely gonna use this service soon. Most of my income has a corresponding expense, but that will change soon once I finish training (radiology) this summer.

[de3mka]

I work for General Dynamics, a company that is suckling on the US government's teet. They would never risk their sweet military industrial complex relationship with the government by accepting bitcoins.

I use bitwage.co (I do not work for them, just happy that I can get paid in Bitcoin).

I set up my direct deposit to the account number they provided me and my last paycheck it was all converted to bitcoins automatically. My bank never saw a penny of my paycheck.

That is the first step in dumping my bank forever.

For spending money I usually sell on localbitcoins for a profit anyway so I always have some cash on hand. And pretty much anything I want online can be paid in Bitcoin.

I think more people should follow your initiative. However I am afraid converting 100% of salary on a monthly basis is still risky. I would like to go with 10-20% though. Is there any way to do so?

Another concern I have are fees for this service and overall financial benefit for both me and an employer.

1) Converting my wage into BTC so I can make use of BTC infrastructure should bring me benefits over doing the same with fiat. At least it must save me transaction fees which I would have to pay if I buy anything with fiat.

2) Both my employer and me should have tax release for an amount converted into BTC as this could be treated as company benefit.

[franky1]

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!

Even if Bitcoin drops to $1 I have another paycheck coming in 2 weeks so...no biggie. Like I said, I sell on localbitcoins to get cash so I always have some spending money.

you now need to push your local grocery store to accept bitcoin and your landlord. and then you'll be at my level of no FIAT

i dont even look at the fiat price anymore, the only time i see price changes is when people write topics on these boards in their emotional panicking state.. lol to me bitcoin is better than fiat no matter what the crappy exchange values show

[Elwar]

I think more people should follow your initiative. However I am afraid converting 100% of salary on a monthly basis is still risky. I would like to go with 10-20% though. Is there any way to do so?

Another concern I have are fees for this service and overall financial benefit for both me and an employer.

1) Converting my wage into BTC so I can make use of BTC infrastructure should bring me benefits over doing the same with fiat. At least it must save me transaction fees which I would have to pay if I buy anything with fiat.

2) Both my employer and me should have tax release for an amount converted into BTC as this could be treated as company benefit.

Are you able to split your direct deposits between bank accounts? If so you can split it 10-20%, it goes by your direct deposit.

There are no fees though when I was paid the price was around $316 on Bitstamp and they paid me based on $319 so they may be adding 1% to their base price.

I have no idea about the employer using their service. As an employee my employer has no idea that I am being paid in Bitcoin.

[de3mka]

Are you able to split your direct deposits between bank accounts? If so you can split it 10-20%, it goes by your direct deposit.

Most likely I can't. The only option would be to rewire 20% to bitwage.co from my primary account but this would mean paying international bank transfrer fees.

[bg002h]

Are you able to split your direct deposits between bank accounts? If so you can split it 10-20%, it goes by your direct deposit.

Most likely I can't. The only option would be to rewire 20% to bitwage.co from my primary account but this would mean paying international bank transfrer fees.

My employer let's us split up our paychecks by fixed amount,  percentage, &  remainder.

[fryarminer]

Dude!!! That is awesome!!! All in!! Go big or go home!!

[minerpumpkin]

Wow, that's quite some step you took there. Are there a lot of fees associated with that service? I'd prefer it if my employer paid me directly in Bitcoin, of course. Since you are effectively only forwarding your money directly to that service, there still are a lot of banks involved. But I agree that this is the next best thing to the dream of being paid in Bitcoin.

[QuantumQrack]

I work at Micron Technologies, Inc. and I am doing something similar.  I just receive enough shitty fiat (of which the federal reserve counterfeits daily) to pay rent, utilitites, etc.  Everything else, starting this new year, is going into bitcoin via bitwage.co.  Once you are 100% in control of your money there is no going back to legacy banking.  Fuck you bankers.

[saddambitcoin]

If I ever work for a big corporation I will be doing the same!

[Q7]

Wow. Talk about someone who believes so much in bitcoin. I mean you practically wager everything you earn with the hope bitcoin will one day becomes the standard currency! Good luck then. I'm not that brave as you but still keeping a portion in fiat to lower the risk.