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RE: Another Crypto Milestone: Japanese Company Offers To Pay Employees In Bitcoin

in #bitcoin • 7 years ago (edited)

Interesting. Personally I believe that being paid in Bitcoin is pure madness, because it violates the first rule of this world: do not invest more than what you can afford to lose.
Wages are not a speculative account wich you can use to high-risk investments just like bitcoin. I cannot think to survive and pay daily expense with something that can lose or gain 20% of its value in a day because it hasn't a clear fundamental value.
Of course i can say "well, these bitcoin in 2019 will be $100000 worth each one".. But so you are asking to be payed with a speculative asset that you want to get capital gain.
So, in my opinion, Bitcoin is very nice, for example, to pay productive bonuses or other particular premiums. It has to be something more than what you are needed to survive, and none else.

Consider also that now average bitcoin transation fee is over $20.
So, if you are payed 1000 $ in bitcoin every 30 days, you can't afford to do more than 1000/20 = 50 payments in a month. Not considering the cost of what you are buying - only transation fees.
Well done guys!

7 years ago in #bitcoin by
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     7 years ago 

    You have right! But consider that after the futures went live, a lot of the volatility disappeared, the more instituons involved, the more volatility will lessen in my opinion.

    P.S. They dont pay their whole salary in brc, only a fraction. If you want to.

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     7 years ago (edited)

    after the futures went live, a lot of the volatility disappeared.

    Sincerely, I don't believe. A +10% in 24 hour is not "volatility disappeared". Losses of 2-4% in 20 minutes on many exchanges followed by new price spikes are not "volatility disappeared".

    I have an opposite view: futures are not eliminating volatility. It is volatility that is killing the futures. In fact, many banks are blocking customers's access to futures because it is a too high-risk market. Volumes are really low, also because for a traditional operator margin trading on bitcoin seems to be pure madness. Wait and see what happens with Chicago Mercantile Exchange futures...

    P.S. They dont pay their whole salary in brc, only a fraction. If you want to.

    Yes, I have seen. My comment was a general consideration about the idea of live with bitcoin wages, an idea that is taking place in the minds of a lot of bitcoin-addicted. They are asking "please, force us to go all-in on the most volatile asset of the world"!
    Really, really smart move.

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