Post
Topic
Board Bitcoin Discussion
Re: Started getting paid 100% in Bitcoin starting with my last paycheck
by
Soros Shorts
on 04/01/2015, 04:57:25 UTC
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.

Are you keeping track of capital gains for every bitcoin transaction you make? Every BTC you get through bitwage.co is now "on the grid" and presumably you'd need to be able to account for how you spent each one of them in the event of a potential IRS audit. I am curious how you are going to deal with all the additional bookkeeping?