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I pay some of my staff in bitcoin... it is cheaper and easier than using Paypal to be honest, and significantly, significantly cheaper than dealing with interna
by trevelyan 13y ago
I pay some of my staff in bitcoin... it is cheaper and easier than using Paypal to be honest, and significantly, significantly cheaper than dealing with international wire transfers. And when they need cash they can sell at a markup using localbitcoins. Yes, I also have a small business without "layers of processes and scar tissue built up around payments," but is this really the community to trash startups?
The easiest answer to the parent poster's question is to offer a slight discount for bitcoin payments. Or just accept cash and use that to purchase bitcoins as needed. Doing a bit of SEO work around bitcoins can also make your business more visible to people who want to pay using it. I currently pay for some server infrastructure in BTC as well, and found those companies through web searches.
- emmett 13y agoYou really pay full time staff in bitcoin? What happens when the value of bitcoin varies by more than 2x in a short period vs local currency? How do they afford rent? If you're just using it as a transaction medium (give them $6000 per month, transfer as BTC, immediately change back to dollars) that would avoid the issue I suppose. But how is that better than direct deposit in any way?
- trevelyan 13y agoNot full-time staff, and it isn't their main source of income. The alternative is international wire transfer, which would cost me 30 USD and them a portion of the payment as well.
- trevelyan 13y agoPart-time not full-time staff. The alternative is an international wire transfer that would cost me about 30 USD and them around 10 USD.