Free Bitcoin?

masonic

unitedwestand wrote: »

In the past 8 years, would you rather have had your salary paid in Bitcoin or pounds?

I'd rather have my salary paid in pounds. Just like any merchant accepting bitcoin frequently adjusts its prices to account for exchange rate movements, so would an employer need to adjust my salary each month. It would be extremely annoying.

Then I'd have the inconvenience of having to convert it to pounds to spend or invest it. Not many mainstream businesses accept bitcoin, nor do any S&S brokers.

unitedwestand

masonic wrote: »

I'd rather have my salary paid in pounds. Just like any merchant accepting bitcoin frequently adjusts its prices to account for exchange rate movements, so would an employer need to adjust my salary each month. It would be extremely annoying.

Then I'd have the inconvenience of having to convert it to pounds to spend or invest it. Not many mainstream businesses accept bitcoin, nor do any S&S brokers.

With the Bitcoin or a portion of it most likely sitting in your account/ wallet for a longer period than your employers, I'm pretty sure you'd be far financially better off on the whole no?

masonic

unitedwestand wrote: »

With the Bitcoin or a portion of it most likely sitting in your account longer period than your employers, I'm pretty sure you'd be far financially better off on the whole no?

I doubt it would be sitting in my account for very long at all. In fact, I usually clear my current account on payday. Some gets siphoned off to other accounts that feed my regular bills (these funds must be in pounds, since I cannot risk volatility causing my payments to fail). The rest I invest - sensibly, IMHO - and that precludes speculating on exchange rate movements.

unitedwestand

masonic wrote: »

I doubt it would be sitting in my account for very long at all. In fact, I usually clear my current account on payday. Some gets siphoned off to other accounts that feed my regular bills (these funds must be in pounds, since I cannot risk volatility causing my payments to fail). The rest I invest - sensibly, IMHO - and that precludes speculating on exchange rate movements.

At the moment you can get Bitcoin Credit Cards, that work off the Visa and Mastercard network and in the future Cryptocurrencies will run on lighting networks that have the ability to stream payment in to your account minute by minute as you work, a bit like how we stream music and video online today. Transaction fees will be minuscule and real-time.

Do you think cryptocurrencies have a place in the world today or ever will in the future?

stoozie1

unitedwestand wrote: »

.... a VHS player..... that's the latest and greatest.... After all this technology is just for Geeks, the same way Bitcoin is just for Criminals.

my fear is of getting a (free or otherwise) Betamax

which is fine until VHS goes crazy and your whole film collection is obsolete

masonic

unitedwestand wrote: »

At the moment you can get Bitcoin Credit Cards, that work off the Visa and Mastercard network and in the future Cryptocurrencies will run on lighting networks that have the ability to stream payment in to your account minute by minute as you work, a bit like how we stream music and video online today. Transaction fees will be minuscule and real-time.

Owing money in a volatile currency is arguably worse than holding money in a volatile currency. The volatility is the main problem, and at the extreme end, the risk of obsolescence of specific cryptocurrencies.

Do you think cryptocurrencies have a place in the world today or ever will in the future?

Yes, I think they have some clear advantages. But their purpose should be equivalent to the fiat currencies that they replace - short term spending, not investment.

LHW99

at the moment by using a Bitcoin Debit Card

Fine once they're teenagers (maybe, though I wouldn't let mine have one until they were over 16) but there's no way I'd want a 4,5, or 6 year old (or even 10, 12) using a card to pay for their comic or chocolate bar on a Saturday.
No education in it.

Carrieanne

I've looked at BTC several times but gave up as my head was spinning reading the mostly gobbledygook info. Rightly or wrongly, I suspect it's attracting a great many bubble chasers.

Malthusian

unitedwestand wrote: »

In the past 8 years, would you rather have had your salary paid in Bitcoin or pounds?

I'd rather have it paid in OneCoins, then it would have gone up like eight times in a year (as long as I didn't try to spend it).