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No, the most cost efficient is likely to go out into the world and earn BTC (e.g. a job). It's just that it's a bit difficult to find people who have BTC to pay
by vertex-four 13y ago
No, the most cost efficient is likely to go out into the world and earn BTC (e.g. a job). It's just that it's a bit difficult to find people who have BTC to pay you with at the moment.
- deleted 13y ago[deleted]
- vertex-four 13y agoNo, it is not, in most countries. As bitcoins are considered a good, it is generally considered barter. A contractor can accept whatever they want in return for their services, and there's specific taxation rules set out for it, at least in the UK.[0] An employment arrangement, however, might require that a reasonable currency (either the legal tender of the country, or whatever the court decides is reasonable in countries which do not have a legal tender) is offered. Certain laws might allow the employee to opt in to being paid in Bitcoin anyway; BitPay supports this in the US via their Payroll API[1], and I have yet to hear of any legal challenges to it. [0] http://www.hmrc.gov.uk/vat/managing/special-situations/samples.htm#4 http://www.hmrc.gov.uk/vat/managing/special-situations/sampl... [1] https://bitpay.com/bitcoin-payroll-api https://bitpay.com/bitcoin-payroll-api