Post
Topic
Board Economics
Re: Paying my staff in BTC -- effects?
by
nhodges
on 20/09/2011, 04:31:20 UTC
So i have a few staff members across the country that we are considering using BTC as currency.

1. Bitcoin is far too volatile for that.

2. It's illegal in the US, under the Fair Labor Standards Act. This requires payment in "cash", because of a historical scam - payment in scrip only useful at the "company store". So you can't pay your employees in frequent flyer miles, Facebook points, or Bitcoins.

I don't think heruspex owns Standard. (Oil/Coal) Tongue

You can technically give your employees a salary of $1 and give them Bitcoin "benefits" though.