Post
Topic
Board Bitcoin Discussion
Re: The first country in the world. Officially salary in cryptocurrency!
by
dunfida
on 15/08/2019, 13:31:44 UTC
Would you like to get paid in  cryptocurrency? Wink
I've heard similar things discussed over the past couple of years, and the exact same question asked numerous times.

No, I wouldn't want to get paid in crypto.  Not unless the items in my local supermarket are priced in bitcoin; not until my landlord accepts rent in bitcoin; and not until I can pay my utilities and phone bill in bitcoin.  Certainly not unless bitcoin's volatility goes down a lot.  With the price swings I've seen since I've been following bitcoin, it would be more risk than I'd be willing to bear to get my paycheck denominated in anything crypto.  It would be so easy to lose purchasing power within hours of getting paid.

Don't know how this is going to play out in New Zealand, but best of luck to anyone who takes advantage of it.  It might be attractive to receive part of your pay in bitcoin, just as an investment akin to contributing to a retirement plan, but I'd want the majority of it to be in fiat.  I would not want to get paid and then be unable to spend my money immediately at Starbucks or whatever, which would be pretty damn hard if all I had was bitcoin.
I would be on the same shoe of yours.I wont deny that accepting crypto payment with your salary but the main issue here is that on how you'd gonna spent it if there were no sufficient numbers of merchants residing on your place.So its basically useless and come to think that volatility will always be either your enemy or friend. Lucky if it rises after you recieve pay and unlucky if it goes down.If you are aware and willingly to accept it then its our choice.Lets see if how NZ handle such adoption or do make adjustments with it.