codelitt

12 ms·

151.
by codelitt 12y ago
I get what you mean. Impressive. What kind of tools do you guys have in the works? How is the compliance toolkit working out?
152.
by codelitt 12y ago
Thanks! We're not nearly where you are though. :) We have a couple of things in place. When an employer is running payroll: they have 2 points to review (both employee and their payroll as a whole) the totals in USD, 2FA step, and then
153.
by codelitt 12y ago
Amazing answer and awesome link. That would be a massive boon. What startup do you work for?
154.
by codelitt 12y ago
Thank you for the support! And thank you for your feedback. We do have some stuff that ZenPayroll currently doesn't have such as the btc (which you mentioned) and our paycheck distribution which allows for employees to automatically ta
155.
by codelitt 12y ago
You're absolutely correct. It will be difficult for them. It will be even more difficult depending if they've just purchased the coin or have held it for a while.
156.
by codelitt 12y ago
You're right. We understand that and are offering our beta customers help doing the tax portion of things. We still have a lot to do, but we're just getting started!
157.
by codelitt 12y ago
You're right. We should probably put our profiles up. We get busy with product(s) and we tend to not focus on talking about ourselves as much as we probably should. We're admittedly not the best at marketing or PR. We'll put
158.
by codelitt 12y ago
We've chatted with the Bitwage guys. Good guys. We respect what they're doing. Well there are a few differences currently, and even more coming over the next month - 2 months. But the ones that are currently available: 1. Interfac
159.
by codelitt 12y ago
It does have some similarities, but we put the majority of the control in the employees' hands. This not only makes the employer's lives easier, but also allows the employee to update how their paid at any point in time. This is o
160.
by codelitt 12y ago
Hey! Cody from Incoin here. It would be rad and it's in our roadmap. Employers currently do fund payroll in USD, but we're working on adding the ability to fund payroll in BTC. And you're absolutely correct. We would save in
161.
Show HN: Incoin.io – Bitcoin and Distributed Payroll(incoin.io)
58 points by codelitt 12y ago|43 comments
162.
by codelitt 12y ago
Very true. That's why we offer employees the option choose what percentage of their paycheck to receive in BTC and USD (hope to add other currencies soon). The idea isn't to get paid in BTC and then to exchange it. We're idea
163.
by codelitt 12y ago
With our system you will just pay one fee to accomplish your end goal. The ACH debit and BTC transaction fee doesn't cost you any more. It should eliminate the 3-8% on exchanges for foreign currency, the wire transfer fees, and the BTC
164.
by codelitt 12y ago
Thanks for the support. And you're correct. We answered a bit about us. We're going to start simply with 1-3 states and then build out as we go. https://news.ycombinator.com/item?id=7916812
165.
by codelitt 12y ago
You're absolutely correct. Part of our need to build this was to enable employees to have reporting for the BTC/USD price when they were paid in it vs. when they sell. The idea is for them to make their lives more simple in this r
166.
by codelitt 12y ago
We want to add other coins for sure. We're going to get BTC right during the beta and then start adding other coins as we go. Maybe we could open up voting.
167.
by codelitt 12y ago
We're using this internally right now, and that's a risk we wanted to mitigate for ourselves. Pretty sure that no-one wants to assume this risk. The companies that use our service don't own or transact in Bitcoin. Wages are s
168.
by codelitt 12y ago
Extremely valid concerns. We're trying to be as secure as possible — personal data is strongly encrypted in our database, we're using tokens instead of bank details to keep things more secure, we're implementing 2FA for login
169.
by codelitt 12y ago
Unfortunately not right now. We're looking at this from a startup's point of view, and putting our SaaS code on github isn't something we're looking ATM. We will be work on releasing an API for others to use.
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by codelitt 12y ago
That's a great question — and that is one of the first issues (alongside bitcoin) that we want to get right. Garnishments, withholdings, and taxes vary state to state, and sometimes city by city. We're working with our tax lawyers
171.
by codelitt 12y ago
This. Also it simplifies things. If you get paid in USD, then you still pay the transfer fees to get bitcoin. It's more manual than just receiving part or all of your paycheck in BTC every month.
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by codelitt 12y ago
No don't worry. It doesn't come off as critical at all. I would say its about split. Several of them buy a lot online which helps. They use it in real life occasionally, but often just change it into dollars when they need cash&#x
173.
by codelitt 12y ago
From what our lawyers are telling us, that's right on the money. It's treated as a barter so you pay taxes on the USD equivalent if I remember correctly.
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by codelitt 12y ago
Ya! We've seen them, but we haven't been able to use their site yet.
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by codelitt 12y ago
100%. We're definitely aware of the legal side, and we're working with a team of lawyers and accountants on this particular issue.
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Show HN: Dead simple Bitcoin payroll
30 points by codelitt 12y ago|39 comments
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by codelitt 12y ago
Great! That's the goal.
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by codelitt 12y ago
That's an awesome idea. Maybe even some partnerships. We talked about doing an extended warranty/insurance program of our own where you can get insurance on the devices you register. Dunno yet though.
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by codelitt 12y ago
You're right. Right now we use ProtectYourBubble and it allows us to cover devices, electronics, and appliances. It's a decent start.
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by codelitt 12y ago
Noooooo. Just pushed an update. Nice catch.

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