So i have a few staff members across the country that we are considering using BTC as currency.
If i were to send 1600USD per week in BTC (currently ~290 btc); and then they were to immediately turn around and sell all or part of them for their currency (either GBP, EUR, etc);
What effect would this have on the market if the buys and sells were almost back to back? looking at the trade history -- just curious if 1600 back and forth is enough to cause problems for either party using BTC
RW
Edit: I think that their arent enough buy/ Sell orders for the conversion to be comparible. I think that the buyer would end up paying way more than what the seller would be able to flip them for.
RW
So what you have to remember here is that no matter what you will do there will be a gap, really your going to be boosting liquidity of the market, with only small alterations. If you wisely used optimal exchanges for each side of the transactions you will be also helping to keep the exchanges balanced among each other.
Taxes will be a concern, even if you are paying in BTC you will still have an issue if discovered and you will be in time because the governments want their money.
I would recommend encouraging a group such as bit-pay or the like to develop a payroll system for you to use, this would allow you to pay in BTC and then your employees could choose to be paid in BTC or in fiat currency and bit-pay or whoever (reputable) that makes this service would then handle the delivery to your employees and tax implications for you. This would be a highly marketable service as BTC adoption increases and you would be on the cutting edge of it.
thats what i was looking for -- we definitely see the benefits of BTC. Some would want to trade for their currency and some employees/ contractors would want to keep some in BTC. The liquidity would definitely help overall. I was just afraid that buying 5k USD in bit coins would cause a massive increase in the buy price, and similarly when the emps try to cash their coins.