Japanese company are deciding to pay its employees with BTC

[skywallkee]

GMO Internet Inc., a multi-billion dollar Japanese technology conglomerate, will process salaries of its 4,710 full-time employees in bitcoin. According to the official statement of GMO Internet, employees within the company and its subsidiaries will be able to choose to receive their salaries in bitcoin with the newly integrated payroll system in the near future.

“The GMO Internet Group has decided to introduce a system that allows part of the salary payment to be received as bitcoin in order to promote ownership of our domestic employees’ virtual currency,” read GMO Internet’s statement obtained by Bitcoin.com.

In May, GMO announced the launch of Z.com Coin, a cryptocurrency exchange targeted at institutional investors and retail traders, to address the rapidly growing demand from investors within the traditional Japanese finance sector for bitcoin.

GMO-Z.com Coin Co. Ltd., which was previously known as GMO Wallet Co. Ltd., was first established in 2016 to develop a digital currency exchange and trading business. The company started testing digital currency trading services in November 2016 before launching a full-scale operation in May 2017 as recent legislative changes in Japan have led to an increasing appetite for Bitcoin among investors.

Bitcoin has seen increasing recognition as a legal method of payment in Japan after the government passed bills to that effect in 2016. The government also decided to end the 8% consumption tax rate on Bitcoin trading through regulated exchanges.

 

What do you think guys? Is it a good or bad thing to pay your employees with BTC? Would you like to be paid in BTC? Do you think that it is going to be introduced world-wide?

More here: https://www.cryptocoinsnews.com/multi-billion-dollar-japanese-tech-conglomerate-pay-employees-bitcoin/ and here: https://www.financemagnates.com/cryptocurrency/news/gmo-internet-cryptocurrency-offering-z-com-coin-rebrands-gmo-coin/

[barbaris]

This is good news if bitcoin will grow. Although it is strange that the bitcoin is dumped into wages. Maybe they know something and hide it from the workers. Now very few people want to give their bitcoins, because he can make a double profit in a day.

[skywallkee]

Just now, barbaris said:

This is good news if bitcoin will grow. Although it is strange that the bitcoin is dumped into wages. Maybe they know something and hide it from the workers. Now very few people want to give their bitcoins, because he can make a double profit in a day.

Actually, bitcoin is very popular in Japan and they really want to introduce it more in their country. There's no doubt that BTC will grow worldwide and even other altcoins, but for sure in Japan it is going to be the first place to be implemented.

[kurian]

This news gives a hope that btc  would get more and more popular. But, big fees are still a problem for btc transactions.

[barbaris]

3 minutes ago, kurian said:

This news gives a hope that btc  would get more and more popular. But, big fees are still a problem for btc transactions.

Unfortunately this is the case.
 

[Snike]

I gotta get paid in BTC too when I'm employed some day. I'll only go to work when BTC is down. Get ez money and then skip work once its high

[skywallkee]

16 minutes ago, kurian said:

This news gives a hope that btc  would get more and more popular. But, big fees are still a problem for btc transactions.

I guess that when it will become more popular will help the transaction fees problem. Also, I guess that the company is going to cover all the deposit fees. 

[testB]

No idea how they manage it, but taxes would still be there for any registered business like this one should be.

One should mind that this company operates a crypto mining operation, as well as a crypto exchange, so much of their income is in these coins to begin with.

[bitcointastic]

I wonder how bitcoin holders/supporters who are working at GMO react in this  Good news indeed and good crypto promotion as well. Also, another good thing about this is that, it seems that employees could choose how much to receive in BTC (in between the range given).

[nhoyasim101]

implementing that BTC salary pay will depends of the country where you live, it will cause problem with regards to taxation % of the employee as we all know BTC legality is not yet around the globe.

[Dboyeric]

if they do this, it will worsen the issue of confirmation 

[wilberthh]

I don't think this is a good idea! But the employees can choose wether to recieve it in btc or fiat right? 

If I were one of the employee, I'll ask if I can accept salary in 70% fiat and 30% btc  

[xtinepink]

Did those employees agreed to accept the btc payment salary? If it was asked here, maybe some people would say what is that? (Especially the elder ones who still work) ??

[skillex]

This will be great news to Bitcoin for all we know that Japan belongs to top 30 richest country in the world. This will give the Bitcoin more impact in price in future  

[testB]

8 hours ago, xtinepink said:

Did those employees agreed to accept the btc payment salary? If it was asked here, maybe some people would say what is that? (Especially the elder ones who still work) ??

All in the article. It's optional they could take yens or whatever it is, if they prefer it. It's a btc mining and exchange company, so you'd expect their employees to know quite a bit about it.

It's still a curious situation where the company can pay employees in the coins they are "creating" themselves.

[ktfor57]

Paying salary with bitcoins is a good option but certain parameters have to be looked into for a country to implement 

1. Unlike normal currency, bitcoin price is very volatile so bitcoin amount as salary payment may differ every month

2. Taxation laws of every country may be applied 

3. Percentage of employees who may be ready or not ready for bitcoin as salary payment

[akki785]

That indeed a very good idea and also innovative. But the company must not make this option mandatory for employees. Because many peoples don't want to chew this crypto thing. But though it's first in the world I think..