Is it too early to get paid in Bitcoin? \ stacker news ~bitcoin

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901 sats \ 27 comments \ @klk 11h bitcoin

Because number go up so fast, not many people denominate their liabilities in Bitcoin. Or are even interested in using it as a medium of exchange even if the contract is denominated in fiat if they don't have a positive cash flow of it.

Looks like the natural option is to look for Bitcoin native companies. But there aren't many yet.

So as a software engineer, looks like I'm better off keeping my regular fiat job and keep turning the salary into Bitcoin later.

But it's interesting, because Bitcoin employers would automatically benefit from more than a 50% discount on the regular hourly rate, that's currently the cut that my pimp takes.

So maybe the question is: are there enough Bitcoin jobs already or does that come later? Feel free to share your experiences.

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292 sats \ 1 reply \ @SimpleStacker 11h

I think adoption for small retail transactions like coffee are gonna need to be a lot more common before wages start getting denominated in bitcoin.

One cool aspect of being a SN contributer though is that you can legitimately say you get "paid in bitcoin". That's kinda cool, even if you're not making your entire living off it.

30 sats \ 0 replies \ @klk OP 11h

Yes that's great. It's one step closer.

172 sats \ 0 replies \ @optimism 11h

Because number go up so fast, not many people denominate their liabilities in Bitcoin

I'm still waiting on the final payment of a 2022 BTC denominated large contract that finished late 2024. I did receive 3 milestone payments. When I asked for my money the answer was "let us get a loan" and then I was ignored - since over 5 months now. I'm probably not going to get it... hate to write off large amounts of money.

Other (smaller) contracts denominated in BTC went much better. So it's possible, but I'd recommend against large projects that take long, unless you have good relations. Even then, make sure you get paid more frequently than you would in fiat.

212 sats \ 7 replies \ @k00b 11h

afaik there aren't many. i'd love to do it, but i haven't found a single service that makes it easy for me to deal with all the legal bullshit and pay out bitcoin to employees as a us based employer. in contrast, there are tons of fiat platforms to do it.

bitwage claimed to do what we needed, then when I went through tons of pain setting up an account they ghosted us and said they decided to not do what we needed.

so we're not even at the stage of 'does an employer want to do this'. we are still at the stage of 'does my employer want a part time job figuring out how to pay me in bitcoin' and the answer 99% of the time is no.

0 sats \ 6 replies \ @klk OP 10h

I wonder why did you go the “legal” way to begin with. Wouldn't it be a lot cooler if you didn't? And you wouldn't have a lot of headaches, at least the bureaucracy related ones.

0 sats \ 5 replies \ @k00b 10h

you have to pick your battles. it's not like i'm running a landscaping company.

0 sats \ 1 reply \ @supratic 10h

especially with investors... do they require dividends in fiat or sats?

0 sats \ 0 replies \ @k00b 10h

startup investors receive equity without the expectation of dividends

0 sats \ 2 replies \ @klk OP 10h

IDK looks just easier to not register as a company. I can't even imagine how a tax inspection looks like for such a complex platform (LN routing fees, rewards pool, zaps, territories, ...). So I'm probably missing something. Is it just to have a way to justify your personal income to the IRS?

0 sats \ 1 reply \ @k00b 10h

how do you sell equity to investors without a legal entity? how do you shelter your personal assets from frivolous lawsuits? those are the two primary reasons why people form companies.

0 sats \ 0 replies \ @klk OP 10h

I see... Maybe this is an important line of work for hyperbitcoinization. There should be a better way to have shared ownership over a company. And your personal assets should be out of the map to begin with, probably even your real name to protect them.

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79 sats \ 7 replies \ @supratic 11h

True bitcoin businesses, driven by bitcoin ethos and values aren't registered entities, don't need permissions or licenses to operate, nor know what fiat is. They operate privately, not publicly... g'luck finding them, because if you still having your slave fiat salary, you'll need luck.

0 sats \ 6 replies \ @klk OP 11h

Sure, that's exactly what I'm looking for. But what you say makes no sense.

Those companies need to find their customers somewhere and have presence on the internet. But looks like they are too few and not large enough.

For example there's Bisq offering full time jobs. That's ideal.

100 sats \ 5 replies \ @supratic 10h

Everything works at scale, no need to be exponential or advertise like fiat companies do

100 sats \ 3 replies \ @klk OP 10h

Still, I think there are too few yet. There are more people looking for a Bitcoin job for half of their current salary than Bitcoin job vacancies.

This is interesting in itself and I wonder how do we break the loop.

85 sats \ 0 replies \ @optimism 10h

As a software engineer, the best way is to either build something useful that businesses need, or contribute to existing software if you're looking to network. Having something to show is important if you don't have the network.

There are plenty people here on SN (and including SN itself) that have projects that can use love, and will pay you a bounty if you do a meaningful contribution. This is a great way to start.

0 sats \ 1 reply \ @supratic 10h

bitcoin has no space for slaves looking for jobs

0 sats \ 0 replies \ @klk OP 10h

It was enough having ONE DarthCoin...

I guess you magically changed from NPC to full sovereign overnight. Or was there a period where you explored and learned from others? Where you looked for opportunities to improve and become more sovereign?

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28 sats \ 0 replies \ @optimism 10h

This. The first Bitcoin startup I worked with (long ago) had zero funding, zero marketing budget, zero social media presence. But: tens in the first 3 months then hundreds after a year of b2b customers: all from organic search results and word of mouth.

82 sats \ 0 replies \ @PictureRoom 6h

I have a side business where I only accept bitcoin payments. It's been great and I think it helps spread adoption that way. If people want to buy my product, they have to pay in bitcoin. That gets them intrigued and I think it just snowballs from there.

73 sats \ 0 replies \ @hasherstacker 7h

Because number go up so fast, not many people denominate their liabilities in Bitcoin

The beauty of Bitcoin, is that anyone can use it anywhere at anytime. If we could only switch our mind from fiat dominated unit of account to sats. So, it's never too early, it's never too late.

82 sats \ 0 replies \ @Undisciplined 8h

I think about this a lot, because I hope to convince someone to pay me in bitcoin at some point.

For the employer, agreeing to a fixed salary like 1 BTC per year, say, is obviously an insane liability to take on. So, that means the fixed component would necessarily have to be lower and the remainder based on incentives or revenue sharing or something like that (e.g. 0.5 BTC per year + 1% of company profits), but now the employee is taking on lots of volatility risk.

Maybe we'll see hybrid contracts, with a defined fiat component and a defined bitcoin component: i.e. 0.1 BTC and $100k per year. As fiat depreciates and bitcoin appreciates this converts from a primarily fiat contract to a primarily bitcoin contract and both sides are insulated a little bit.

68 sats \ 0 replies \ @denlillaapan 8h

currently the cut that my pimp takes.

oh man, I FEEEL YAH <3.

We do hate those pimps

5 sats \ 1 reply \ @3a42879d5f 8h

When I still had a job, I was getting paid in Bitcoin and my employer had no idea it was happening. To them, it just looked like direct deposit into a bank account, but that bank account was Bitwage. I set it up to pay me out 50% USD, 50% BTC. Bitcoin native jobs don't really matter with a system like this. If you're a worker and you want it, you just set it up and you got it.

0 sats \ 0 replies \ @klk OP 1h

For that I'd rather just get fiat and exchange it into Bitcoin in a P2P no KYC way.

What I'm looking for is to not being a slave.

0 sats \ 0 replies \ @AST_YuZuu 1h

Btc its the future but some persons still like credit cards with $

0 sats \ 0 replies \ @hasherstacker 8h

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