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RE: Startup Company "Square" Introduces BTC Into it's Corporate Structure

in #life6 years ago

Getting paid in crypto is a risky business.

A buddy was coding for myetherwallet and getting paid in ETH. When the market was hot, it was great ... when the market tanked, he was in trouble. Plus, being in Canada, he needed a modern accountant to help with determining the exchange rates (ETH -> USD --> CAD) for every paycheque when submitting his taxes.

Now, he's moved over to coinbase where he gets paid in USD, so he only needs to worry about one exchange rate per paycheque.

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It was a risky business back when BTC was in the five figures. Not so much now, me thinks.

It all depends on whether the company is paying based on a fiat currency (i.e. so you always make $1000/USD per week) or whether it's strictly a set number of ETH/BTC per week (i.e. when BTC was worth $20K, if you agreed to a 1 year contract at 0.05BTC/week), now, your $1k/week is now $265/week.

If you are negotiating now ... chance are, it's only going to work in your favour. :-)

Definitely risky...but not when its AT THE LOWS

It all depends on the contract you signed and when you signed it. Now is likely a good time to get in. :-)