Post
Topic
Board Bitcoin Discussion
Re: Dubai approves bitcoin for salary payment
by
fuguebtc
on 25/08/2024, 10:01:32 UTC


This is just a recognition and it's not mandatory it will now depend on the employers if they would like to support this kind of action but I guess the people will be against it is the employees because we know how the market is volatile imagine it your payday and debit already to your wallet address and unexpectedly the market crash and makes a 5% price down movement still its a huge amount to others so they would prefer the use of the fiat currency. Again base on the statement its just recognized it depends on the institution if they adopt this.
Well, it's highly likely that employees will prefer fiat more than bitcoin as a salary payment due to volatility, but maybe out of 10 employees, there might be 1 employee who will prefer bitcoin most especially if he knows well about bitcoin. I guess in the long run, if bitcoin will be highly acknowledged in Dubai in the future, then receiving their salary will be based already on their own request or preference.

I think if this applies to part time income sources it would be more effective because sometimes people would save money from part time jobs instead of spending it. Like many members on the forum, there are many people who barely spend the bitcoins they receive from signature campaigns. But for a full-time job it's really not ideal and I don't think many people would enjoy it.

In addition, receiving salary in fiat will also be more convenient and more proactive in spending and investing in bitcoin . For example, for those who don't have much money and only want to DCA when the market is in a strong correction , having a certain amount of fiat in the account is always an advantage .

Yes, it all depends on each person's preferences and needs .