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Re: Will you accept bitcoin as your salary?
by
Nitroshock
on 10/07/2016, 18:17:40 UTC
It is nice to see companies and others embracing Bitcoin and trying new things with it.  Even if the ideas don't work out, it is still good for Bitcoin as a whole.

I've used Bitcoin for several years but it would be very difficult for me to accept it as my salary (for reasons others have pointed out).

The biggest issue I see is price volatility.  Your salary would still have to be denoted in Euros or USD and NOT Bitcoin.  As an example, if you make $100 and get paid $100 worth of Bitcoin that is a lot more attractive than saying something  like "You'll make 0.15BTC, despite the price".

But perhaps that isn't the biggest issue.  I've lost bitcoins before due to hard drive failure, losing private key, scammers, etc.  The logic may be secure, but we still screw up and our Bitcoins disappear.  It's one thing to have a couple bucks disappear, it'd be an entirely different story to have a two week (or more) paycheck vaporize.  So another concern is holding onto the Bitcoin once they've been paid/earned.

And, of course, you can't buy (all) the stuff you NEED (yet) with Bitcoin, so using it as a primary source of income to purchase stuff you need but can't buy with the currency you are paid with just adds confusion and complexity and another bitcoin adoption hurdle.

Hopefully this will slowly change in the future but for now, if my salary was paid in Bitcoin, I would immediately convert it to something with stable value that can be used to pay bills, buy food, etc.

Until Bitcoin can be used to satisfy our everyday needs and bills, it'll be tough selling it as a salary replacement.  Just my 2 Satoshi opinion.