BLXN Posted August 15, 2019 #1 Posted August 15, 2019 I would prefer to be paid in BTC, personally, how about you? New Zealand will legally allow companies to pay salaries in cryptocurrency starting September 1, becoming the first nation to do so, according to a Financial Times report. The country requires the preferred cryptocurrency to be pegged to a standard currency and directly convertible into a normal form of payment. This stipulation allows bitcoin to replace the New Zealand dollar on workers' paychecks. Companies paying workers in cryptocurrency can deduct income tax through the country's pay-as-you-earn plan. https://markets.businessinsider.com/news/stocks/new-zealand-legalizes-cryptocurrency-salaries-including-bitcoin-2019-8-1028442320
Jed750 Posted August 15, 2019 #2 Posted August 15, 2019 Probably a bad idea to be paid in crypto, it isn't back by any physical good (not that the dollar is support by gold anymore) but NZD or USD will at least have some stability to it, where as btc could sink 15% by tomorrow; could you imagine losing 15% of your salary overnight? Sure it could go up 15% overnight, but that's probably not going to happen.
minerva69 Posted August 15, 2019 #3 Posted August 15, 2019 is this real? i think i wanna go there, and want to start new life there, someday ther will be no bill or coin, it will be all crypto money, making paper and coin money require metal and trees, hope we all use crypto now
wngo123 Posted August 15, 2019 #4 Posted August 15, 2019 When they say they 'legalize' this option what it really means is that now people will need to pay tax on salary paid in cryptocurrency. Of course before they had to do it as well but when exchanging crypto to fiat. Now they would need to pay for the money they receive in crypto. Not sure if that is the good solution. Just government coming after crypto. Nothing else.
fantastic209 Posted August 17, 2019 #5 Posted August 17, 2019 I personally do not want to pay with BTC. This is crazy because it will contain a lot of risks. for example, After you receive your monthly salary by BTC, at the same time the BTC price drops, I think you will be very angry because of this.
cryptofly Posted August 17, 2019 #6 Posted August 17, 2019 This is so far one of the best news for both, mass adoption and gov interactivity with ecosystem. This two are going to create a path for the next steps in mass adoption in New Zealand, once the private industry understands the benefits (employees should accept) of crypto payments this will allow to many companies to receive payments in bitcoins or any other altcoin. I would perfect match that option about receiving cryptos due my salary payroll, maybe not 100% but a good percent I will. Congratulations and thank you to all those gov employees that will "risk" to get the payroll trough the ecosystem. Good luck with that.... spread the news guys, spread the news!
djonox Posted August 17, 2019 #7 Posted August 17, 2019 the problem is how are they going to declare their salary in btc they will be taxed on share part more
BLXN Posted August 21, 2019 Author #8 Posted August 21, 2019 On 8/17/2019 at 5:00 PM, djonox said: the problem is how are they going to declare their salary in btc they will be taxed on share part more I think it's understood that the fiat dollar, and the federal tax regulation system will still define value within the country -- declarations are easy with a blockchain- you can tax down to the hundredth millionth of a cent. It's genius as far as bureacrazy goes. On 8/17/2019 at 4:15 PM, fantastic209 said: I personally do not want to pay with BTC. This is crazy because it will contain a lot of risks. for example, After you receive your monthly salary by BTC, at the same time the BTC price drops, I think you will be very angry because of this. Not if you agree to be paid with its volatility in mind.. I live in Canada.. our dollar sucks- the buying power is shite- I'd much rather be paid in something that reflects the value of the Greenback. On 8/15/2019 at 12:30 PM, Jed750 said: Probably a bad idea to be paid in crypto, it isn't back by any physical good (not that the dollar is support by gold anymore) but NZD or USD will at least have some stability to it, where as btc could sink 15% by tomorrow; could you imagine losing 15% of your salary overnight? Sure it could go up 15% overnight, but that's probably not going to happen. Neither the NZD nor USD are based on anything but the collective's promise to repay the debt incurred by their countries during their insolvencies. It's all just speculative value-- the US has petroleum securities -- BTC has cryptographic securities. Both have intrinsic value within this society.
Judgebest Posted August 24, 2019 #9 Posted August 24, 2019 I'm not surprised to see New Zealand to pay salary in BTC. Bitcoin and crypto were created for online payment purposes, so should legalize Bitcoin and crypto
Enzo Posted August 26, 2019 #10 Posted August 26, 2019 That's insane! Didn't think we'd be seeing news like this for awhile! I'd love to be paid in Crypto, probably BTC. But wow that's just crazy to me that some people are now having salaries paid via crypto. How far we've come? Huh?
CntryBoy Posted August 30, 2019 #11 Posted August 30, 2019 While it would be nice to have this as an option, it can have it positives and negatives. If my salary is $1000 say and they pay me in BTC, if it goes down 10% in the time it takes me to get paid, I would be a bit miffed I think.
rinpasahil Posted August 30, 2019 #12 Posted August 30, 2019 That's great, I hope indian govt. also take some initiatives regarding crypto and encourage blockhain in its mechanisms .
chankhoreID Posted August 30, 2019 #13 Posted August 30, 2019 On 8/15/2019 at 11:06 PM, BLXN said: I would prefer to be paid in BTC, personally, how about you? New Zealand will legally allow companies to pay salaries in cryptocurrency starting September 1, becoming the first nation to do so, according to a Financial Times report. The country requires the preferred cryptocurrency to be pegged to a standard currency and directly convertible into a normal form of payment. This stipulation allows bitcoin to replace the New Zealand dollar on workers' paychecks. Companies paying workers in cryptocurrency can deduct income tax through the country's pay-as-you-earn plan. https://markets.businessinsider.com/news/stocks/new-zealand-legalizes-cryptocurrency-salaries-including-bitcoin-2019-8-1028442320 Good news, of course, if BTC will become an official payment in your country. in my country btc has not officially become a digital payment instrument because it has been hit by regulations from the government in my country. Congratulations on allowing BTC to become the official payment instrument in your country. hopefully later in my country btc will officially become a digital payment instrument as well. I really hope so.
Danifilth Posted August 30, 2019 #14 Posted August 30, 2019 I went to work like that, and they pay you on growth and give you output on a fall))) Somehow it’s not fair))
firewolf7876 Posted August 31, 2019 #15 Posted August 31, 2019 On 8/15/2019 at 7:58 PM, wngo123 said: When they say they 'legalize' this option what it really means is that now people will need to pay tax on salary paid in cryptocurrency. Of course before they had to do it as well but when exchanging crypto to fiat. Now they would need to pay for the money they receive in crypto. Not sure if that is the good solution. Just government coming after crypto. Nothing else. but it might make more people use bitcoin and it might raise then :D, and thats good for us, and well no trees needed for paper-money but well electricity will be used, so i dont know if its any better. +Like mining then maybe will happen more. but it will end sometime, and then btc will have more stable value i think.
maxpayne25 Posted August 31, 2019 #16 Posted August 31, 2019 Hopefully if some of the companies will do it, its going to be an option for workers, not the only one
LuckyYT Posted August 31, 2019 #17 Posted August 31, 2019 That can be good af or actually horrible, first of all when they receive it, their salary can actually go higher if the btc does, on the other hand if btc falls down their salaries too. It is mindblowing
wiro212sableng Posted August 31, 2019 #18 Posted August 31, 2019 On 8/15/2019 at 11:06 PM, BLXN said: I would prefer to be paid in BTC, personally, how about you? New Zealand will legally allow companies to pay salaries in cryptocurrency starting September 1, becoming the first nation to do so, according to a Financial Times report. The country requires the preferred cryptocurrency to be pegged to a standard currency and directly convertible into a normal form of payment. This stipulation allows bitcoin to replace the New Zealand dollar on workers' paychecks. Companies paying workers in cryptocurrency can deduct income tax through the country's pay-as-you-earn plan. https://markets.businessinsider.com/news/stocks/new-zealand-legalizes-cryptocurrency-salaries-including-bitcoin-2019-8-1028442320 I would like paid in BTC because bitcoin have a strong opportunity to increase a value in future. My experience even i was work in a site and paid in bitcoin always get over value even i sell that. Not much though but worthyfor me, especially simple to received and faster beside use dollar or another real money. At least i can sell even i need money easily.
Ali saher Posted September 1, 2019 #19 Posted September 1, 2019 I think this is not good Idea to pay salary with Btc for example if ur salary 1000 USD company give you salary in Btc and when you take salary then Btc price go down then I think u feel very bad that's y I not agree with this idea and u not buy things with Btc
zulfandina Posted September 1, 2019 #20 Posted September 1, 2019 On 8/15/2019 at 11:06 PM, BLXN said: I would prefer to be paid in BTC, personally, how about you? New Zealand will legally allow companies to pay salaries in cryptocurrency starting September 1, becoming the first nation to do so, according to a Financial Times report. The country requires the preferred cryptocurrency to be pegged to a standard currency and directly convertible into a normal form of payment. This stipulation allows bitcoin to replace the New Zealand dollar on workers' paychecks. Companies paying workers in cryptocurrency can deduct income tax through the country's pay-as-you-earn plan. https://markets.businessinsider.com/news/stocks/new-zealand-legalizes-cryptocurrency-salaries-including-bitcoin-2019-8-1028442320 New Zealand is a rich country ... it is natural that they follow the technological trends of today ... I believe in the decisions they make ... I also prefer to be paid using bitcoin than others ... the problem is that the development of bitcoin is very unpredictable ... bitcoin is currently down to its lowest price, but if the value of bitcoin goes up, it can make someone rich in a second ....
wiro212sableng Posted September 1, 2019 #21 Posted September 1, 2019 52 minutes ago, Crypto Exchange said: I am not totally agree with you here. Yeah, you are right if the price is low. Then the receiver will face some loses. But when the price is up then there is a high chance of getting some more cash. Yea agree with you, that were price going down receiver will lose some but price going up will receiver will get more cash. But in bitcoin paid still get more benefit from low taxes and fastest awaiting payment.
dicesouke Posted September 5, 2019 #22 Posted September 5, 2019 thanks for the info op . this is a great news to all of us that are involed on bitcoin and in crypto because we know that cryptos are still growing . like you i would also like to recieve my salary in the form of cryptocurrency because there is a chance that my salary will end up bigger than usual but of course there are still risk like loosing its value due to volatility thing . overall i hope that this idea will take place on our own company or country
htetaungxx Posted September 5, 2019 #23 Posted September 5, 2019 Hello BLXN, That was awsome if really happened. As for my country not even like that but also really hard to buy crypto currency with money. And got scam too many times form dealer. I wish to happen in my country like newzeland.
berserk... Posted September 11, 2019 #24 Posted September 11, 2019 On 8/15/2019 at 7:06 PM, BLXN said: I would prefer to be paid in BTC, personally, how about you? New Zealand will legally allow companies to pay salaries in cryptocurrency starting September 1, becoming the first nation to do so, according to a Financial Times report. The country requires the preferred cryptocurrency to be pegged to a standard currency and directly convertible into a normal form of payment. This stipulation allows bitcoin to replace the New Zealand dollar on workers' paychecks. Companies paying workers in cryptocurrency can deduct income tax through the country's pay-as-you-earn plan. https://markets.businessinsider.com/news/stocks/new-zealand-legalizes-cryptocurrency-salaries-including-bitcoin-2019-8-1028442320 lol funny fact bro, i also think that it is rather good cause cryptocurrencies are the future
Android888 Posted September 11, 2019 #25 Posted September 11, 2019 nice to hear in new zealand pay salary for work but its legal now in new zealand?
Featured Comment
Archived
This topic is now archived and is closed to further replies.