• Bitcoin: Would you want to get paid in cryptocurrency?
    10 replies, posted
[url]http://www.bbc.co.uk/news/business-42435838[/url]
tbh i wouldn't mind 5% in CC
Nah, I rather take a small % from my pay and buy some probably. Then again, I probably wouldn't get any in the first place.
No thanks. I had some kicking about and traded it to some loser for a nintendo switch, yeah well just recently it dropped a third of its value. Fucking guy sold me a switch and stuff for like $200. Sucks to suck and I sure as shit didn't say yes to a trade back when he whined about it to me the other day.
Hell to the fucking no. For starters I have no easy way to actually use it(I'm fairly sure not a single business I shop at accepts them), secondly, the value of a BTC sways so wildly that the 5% extra might be worth a new car or it might only be worth a new matchbox car. If the value of these things stabilized, if they were accepted as legal tender anywhere in the country no questions asked just as cold hard cash is, then I might be willing to accept a portion of my paycheck in BTC. But as it stands, those things aren't the case. I can't pay my mortgage or my internet bill with BTC, I can't buy food at walmart with it, and with how much the value of the BTC weeblewobbles around the tenth of a percent I'd be able to get my hands on could be worth $250 one minute and $2.50 the next. So no, I'm not on board with them.
It's a cool concept but imagining trying to actually get your money from the fraction of the coin. You'd have to convert the bit you were paid into actual cash. Which depending on the service and your bank account, could take you more than a week. On top of that, these prices fluctuate constantly on a daily basis. Bitcoin almost hit 20k about 2 weeks ago and now it's back down to 16k. It's a very fragile market and you'll only be getting more profit from it if you were to hold the fraction you were given from the start. I'd imagine it'll be a bitch and a half to pay bills on time if this were the case :v
[QUOTE=jonex3;53008222]It's a cool concept but imagining trying to actually get your money from the fraction of the coin. You'd have to convert the bit you were paid into actual cash. Which depending on the service and your bank account, could take you more than a week. On top of that, these prices fluctuate constantly on a daily basis. Bitcoin almost hit 20k about 2 weeks ago and now it's back down to 16k. It's a very fragile market and you'll only be getting more profit from it if you were to hold the fraction you were given from the start. I'd imagine it'll be a bitch and a half to pay bills on time if this were the case :v[/QUOTE] Its not hard to exchange out once you have everything set up, it use to be a lot more difficult in the past. Prices always fluctuate and you have to remember that it was only ~9.5k at the end of November, even bitcoin has healthy price corrections and dips along with its growth. No growth is a strict linear line and you can expect it to go back up to a new all time high, then dip down again (above where it at now) and repeat. To reap most of its benefits you have to buy and hold, and be aware 25% drops aren't out of the ordinary so you must hold strong. Other cryptocurrencys are good investments if you support their blockchain usage and see what real world companies they are partnering with. If you're smart you can double or triple your investment easily in 2 months time, something no 401k or savings account can offer. Also never invest money you cant afford to lose, you shouldn't be using it to pay bills right now since that's money you can't afford to have its value diminish. Bill money should be a medium that has a strict value that you know will be the same value when they're due, and that's not cryptocurrency currently unfortunately. Its still very much in its infant stages.
[QUOTE=frogy1289;53008421]Bill money should be a medium that has a strict value that you know will be the same value when they're due, and that's not cryptocurrency currently unfortunately. [/QUOTE] And that's precisely why most of us who would not want part of their paycheck in BTC feel that way. It needs to stabilize and become accepted as legal tender in our home countries before we'd be willing to accept it as wages.
[QUOTE=F.X Clampazzo;53007838]No thanks. I had some kicking about and traded it to some loser for a nintendo switch, yeah well just recently it dropped a third of its value. Fucking guy sold me a switch and stuff for like $200. Sucks to suck and I sure as shit didn't say yes to a trade back when he whined about it to me the other day.[/QUOTE] what
[QUOTE=Brt5470;53011073]what[/QUOTE] I bought my Nintendo switch from a guy locally with bitcoin I had kicking about from years ago and within like two weeks bitcoin dropped like a third of its value leading to the guy whining to me about wanting a trade back because Bitcoin flopped at the time. Point being: why the fuck would I want to consistabtly put any sizable chunk of my retirement or income in something that unstable?
I don't know why Bitcoin is still the poster child. It sucks in almost every aspect now. GPU miners can't touch it, the fees are exorbitantly high, the transaction time is insane and the only value is from people thinking Bitcoin is valuable, but it is inherently and provably not.
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