Post
Topic
Board Bitcoin Discussion
Re: Getting paid in Bitcoin vs getting paid in Fiat
by
JohnBitCo
on 12/08/2021, 17:34:25 UTC
I guess there's no better one, since it's all depends on the person, based on their own perspective.

i think the thing is not that simple, if i'm not wrong all countries in the world there are laws that oblige people to receive wages in local currency issued by the government, there are also issues related to life pension payments where a percentage is deducted of the person's salary every month. these bureaucracies can prevent a company or someone private from paying wages to its worker in bitcoin. I've heard some stories of people who get paid in bitcoin, but it seems to me that it's something restricted to internet stuff and the government doesn't know about it.

People who involved in cryptocurrency might want to get paid in bitcoin, since they know its value, how to manage or use it, and such.

truth. but it won't be something formal, I mean it won't be a verified contract in some government institution between the employee and the employer where it states that the employer can pay salary in bitcoin to the employee

However, those who are not familiar with bitcoin might not want to be paid in bitcoin and prefer fiat instead. They will not understand bitcoin, and think why should they get paid in bitcoin. It'll be a lot dangerous too if after the company paid certain amount of bitcoin, then bitcoin price fell, those people will have the amount of money less than they should have, and since they don't understand they'll come out for protest.

I believe that even people who were paid in bitcoin and then the price of bitcoin dropped a lot they will protest

They should not protest because those who opted for Bitcoin payment should know that Bitcoin is not a stable currency and it goes up and down more frequently than the fiat currency.

Also in the long run getting paid in Bitcoin is more feasible because we know that bitcoin always increase in value over the years.