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    Author Topic: What if salaries were paid in BTC  (Read 1166 times)
    serjent05
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    July 27, 2023, 10:02:35 PM
     #121

    A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
    I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .so what is your take on this will it be a positive move on the Bitcoin ecosystem or not

    I get a lot of my income in Bitcoin and other crypto. But I see it no different than a salary even though I do not have a boss.

    The only issue is having to learn how to not to spend it. Because it seems to me that spending a cryptocurrency like Bitcoin is so easy and efficient, that you might not notice when you start spending large amounts of BTC. Unlike with paper fiat money, BTC does not possess the quality of physically tangible value. But since spending is a good thing then that might make BTC into a strong positive force for the economy, if it were the global money standard and all salaries were paid in BTC.

    Of course if the government accepted that, then the price of Bitcoin would skyrocket like in the past. We would see ridiculous prices.

    It will be the same once you converted it to paper money.  Since there are not so many merchants that accept Bitcoin in my place, I am converting my BTC to fiat money in order to pay for the bills and use it to add more financial support to my family.

    If Bitcoin is used as salaries, as I stated, there will be a huge demand on the market and will result in increase of price of BTC.  But I believe such idea is too much for an employer since he have to buy BTC and distribute it to his employee when he can just pay them with fiat money and avoid the trouble of extra steps in paying his staff.
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