Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: ABCbits on March 16, 2025, 11:54:17 AM
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Brazil introduces new bill to legalize salary payment in Bitcoin
Brazil may be the next in line to legalize salary payments in Bitcoin, after the National Congress received a bill pushing for the move. According to reports, Congress received a bill that will allow employees to take their salaries and other remunerations in Bitcoin and other digital assets... Read more here (https://www.cryptopolitan.com/brazil-bill-to-legalize-salary-in-bitcoin/).
Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
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I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.
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I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.
Of course you don't want to make a law that forces employers to pay their employees their salary in crypto currencies, because the vast majority of them still want to be paid in Brazilian Reals instead.
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It seems the Brazilian government is turning its attention to Bitcoin. I heard they're considering adding a strategic reserve of Bitcoin, and now this news comes to legalize the payment of salaries in Bitcoin.
I agree that it would be more positive news than the reserve, as it provides new uses for Bitcoin on a monthly basis. However, on the other hand, problems will arise due to the increase in transactions on the network, and they may also face problems due to price volatility.
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As a Brazilian, I can say that this is probably not happening. ;D
A federal deputy can send many bills for voting, it doesn't mean even a part of the remaining politicians agree with it. Sometimes they know that very well, but they still do that for the headlines and to gain votes (i.e crypto people will look at him with good eyes). Knowing what we have here as our representatives, chances of this bill being approved are very very low.
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It seems the Brazilian government is turning its attention to Bitcoin. I heard they're considering adding a strategic reserve of Bitcoin, and now this news comes to legalize the payment of salaries in Bitcoin.
Just as Tryninja said, this is a proposition as a bill, it needs to be voted first.
Go to the house legislature portal and check the amounts of bills just like that that have been put to vote in the US also, we haven't had a month without some astonishing bill but apart from a few proposals, nothing got through.
Argentina introduced a bill just like that two years ago, it didn't go anywhere.
Unless voters put pressure on their party by voicing their demands, they won't be in a hurry to vote anything.
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This is good news though not anymore as earth-shaking if done years ago as we know that adoption of Bitcoin these days are getting to be very normal so we can not expect the crypto market to be reacting to this either positively or negatively. Besides, this is just a proposed bill and there is no guarantee that this can pass the hurdle and be signed as a law. Now, on a personal level, this can be a good option if you are in Brazil and you have some interest with Bitcoin investing. The most important thing is that this bill (if passed into law and which can take some time, really) is legalizing people's involvement with Bitcoin. Let's hope that this can successfully pass the legislative scrutiny and be enacted and implemented well as another law of the land.
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Brazil introduces new bill to legalize salary payment in Bitcoin
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
i also do find this type of news more exciting because they will not just hold bitcoin and wait for it to rise so they can get some profit they genuinely do want to make use of bitcoin and incorporate it into their lifestyle like how bolivia plans that their energy firms use bitcoin for payment this is how bitcoin is supposed to be used anyway and it is good that countries are learning about bitcoin's use cases aside from just profit purposes
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I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.
Yeah, though it may not involve100% salary payments but it is a step further to boost the crypto economy in terms of awareness, interest, and adoptions both now and in the future. I think that some of these developments are very important, it increases investments and market demands overtimes.
Obviously, this is a good news, though may it not reflect on the market price but should be commended by all crypto enthusiast. It shows that cryptocurrency is growing and the potential for more innovations and improvements are in progress.
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Brazil introduces new bill to legalize salary payment in Bitcoin
Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
My opinions would be the same. Especially because of the pressure from international financial institutions. iN International Relations it is not all about good for your country, it is also about not letting others go ahead.
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Brazil is considering new bill that would allow employees to receive up to 50% of their salaries in Bitcoin or other digital assets as long as they agree with their employers. This move could revolutionize way people get paid giving them more control over their finances. It could also boost Bitcoin adoption and establish Brazil as hub for digital assets.
While it is unclear if bill will pass easily it is significant step towards recognizing Bitcoin potential in everyday transactions. This is not first time country has explored this idea Argentine lawmaker proposed similar bill in 2021. Means overall Bitcoin is dominating world slowly slowly. Which is really good sign for cryptocurrency world.
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I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.
IMO not making it mandatory is good choice, since otherwise this bill would have much lower chance to be passed. As for 50% limit, the news state it's because comprise to make sustain their fiat currency.
As a Brazilian, I can say that this is probably not happening. ;D
A federal deputy can send many bills for voting, it doesn't mean even a part of the remaining politicians agree with it. Sometimes they know that very well, but they still do that for the headlines and to gain votes (i.e crypto people will look at him with good eyes). Knowing what we have here as our representatives, chances of this bill being approved are very very low.
Is it really that low, considering few years ago i heard some media outlet report Brazil legalize Bitcoin (and few altcoin) as payment method?
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I don't know, but for many jobs, the employee consumes 100% to 40% of their salary before the end of the month, and during this period, the price of Bitcoin may decline, so this option will not be attractive for middle/low-income jobs. It may be good for high-income jobs or as part of pension plans or annual incentives.
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This could affect cryptocurrency prices because Brazil has a large economy. P.S. But usually these bills don't pass.
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Argentina introduced a bill just like that two years ago, it didn't go anywhere.
Unless voters put pressure on their party by voicing their demands, they won't be in a hurry to vote anything.
While it's still a proposal, it must first be voted on and may not garner enough votes to become law, I still see it as a positive development.
Compared to the situation a few years ago, Bitcoin was banned in most of these countries and discussion of it was forbidden in parliament. Therefore, the existence of such bills and their introduction to a vote in parliament is a positive development in itself, in my opinion.
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Of course you don't want to make a law that forces employers to pay their employees their salary in crypto currencies, because the vast majority of them still want to be paid in Brazilian Reals instead.
IMO not making it mandatory is good choice, since otherwise this bill would have much lower chance to be passed. As for 50% limit, the news state it's because comprise to make sustain their fiat currency.
This is exactly what I meant. That despite that it is not mandatory, it is a good development. People will even prefer it not to be mandatory. That is one of the freedoms that we need.
I don't know, but for many jobs, the employee consumes 100% to 40% of their salary before the end of the month, and during this period, the price of Bitcoin may decline, so this option will not be attractive for middle/low-income jobs. It may be good for high-income jobs or as part of pension plans or annual incentives.
It will help in bitcoin adoption. That is only what I see about its importance. Even some people that receive their salary in bitcoin may later convert their coins to fiat later just like how it is in El Salvador bitcoin remittance. Almost all remittance in bitcoin are converted to dollar.
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This is the 2nd news I heard of a country from South America embracing crypto. I heard Bolivia was also using Bitcoin in international transaction of their government back oil company.
I think it won't be long these countries are going full blast in crypto that they will even accept altcoins such as XRP which was also added by Trump to their crypto reserves.
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
If ever this is implemented, it should be optional and mandatory because of Bitcoin volatility. Companies that will agree to use Bitcoin for their workers salaries should also institute a learning course on how cryptocurrency works its risks and benefits so the worker will be guided if they choose to receive their salary with Bitcoin.
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
If ever this is implemented, it should be optional and mandatory because of Bitcoin volatility. Companies that will agree to use Bitcoin for their workers salaries should also institute a learning course on how cryptocurrency works its risks and benefits so the worker will be guided if they choose to receive their salary with Bitcoin.
I think you missed it, but the news did mention it's not mandatory.
Notably, the bill does not enforce Bitcoin acceptance but rather provides legal backing for residents working in the country who prefer exposure to the ever-rising technology. According to the bill, the payments in digital assets should happen after an agreement between the worker and the employer. This means that both parties can decide to terminate the use of the payment method at will.
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
I was introduced to crypto because I wanted to make money online, and I needed to do some transactions as well. Getting a salary in Bitcoin will be the first crypto transaction for a lot of the employees. But I am afraid that they may not understand how it works. They should have a short session with the people about how Bitcoin works and what to do/not to do before they start sending Bitcoin. I know that it's not passed yet, but they should mention doing a session with the employees on the bill so it gets approved.
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I am not sure if this bill will pass, as is always the case there will be more lawmakers against it than in support. However, it is not a bad idea for people who earn a lot of money, they can use 50% to dca BTC and live on the other 50%. However, for people who live on all of their salary, they will surely ignore this option even if it becomes available.
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Brazil introduces new bill to legalize salary payment in Bitcoin
Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
To me, this is not exciting than having a bitcoin strategic reserve. According to the news, it is not compulsory for 100% of the salary to be in bitcoin and it is not also compulsory to pay in bitcoin. The idea could easily die off since there is no compulsion. Any adoption that is left in the hands of the citizens might likely not strive. Take El Salvador for instance.
Bitcoin strategic reserve and stockpile is the deal.
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Brazil introduces new bill to legalize salary payment in Bitcoin
Brazil may be the next in line to legalize salary payments in Bitcoin, after the National Congress received a bill pushing for the move. According to reports, Congress received a bill that will allow employees to take their salaries and other remunerations in Bitcoin and other digital assets... Read more here (https://www.cryptopolitan.com/brazil-bill-to-legalize-salary-in-bitcoin/).
Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
This would be a good news if the bill is considered legal and becomes effective. It'll be a step forward for the global adoption of Bitcoin in most countries' national affairs in one way or another. Not all nations around the world could have probably kickstart the establishment of a Bitcoin Strategic Reserve just as the US and El Salvador but it's unfolding that different countries around the world is beginning to put an eye on crypto assets.
It is much better as a 50% payout for both the national currency and cryptocurrency. Putting to consideration the path of the employees in converting this digital asset to Fiat currency in settling some basic necessities and also considering the effects on the Nation's currency.
I guess it's a fairplay and I also hope to see a positive response from the National Congress.
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According to the news, it is not compulsory for 100% of the salary to be in bitcoin and it is not also compulsory to pay in bitcoin.
Surely it cannot be compulsory, BTC is not a legal tender there and since it is not, you cannot make it a compulsory method of salary payment, it can only be optional. Just as BTC is not a legal tender anywhere, but there are merchants in many places of the world that accept BTC for people who wish to pay in it.
Bitcoin strategic reserve and stockpile is the deal.
Better for the price, but in terms of use case, this is better.
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This could affect cryptocurrency prices because Brazil has a large economy. P.S. But usually these bills don't pass.
Brazil has a large economy mainly because we're big commodity sellers, like meat and soy. For tech or industries, we're way behind other richier countries, I'm not sure if the price would move because of this. Noawadays even the USA president talking crypto and signing orders to *not sell* btc is bad for the price. ;D
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This could affect cryptocurrency prices because Brazil has a large economy. P.S. But usually these bills don't pass.
i mean we can be hopeful the fact that it is being proposed already means a lot and is a step forward it is definitely better than a country restricting all kinds of cryptocurrency uses the fact that they are discussing the use of crypto means that there is a possibility that there could be more laws to be passed in the future that would include crypto being used in their country
it would take quite a while though i would not expect for it to come into effect immediately this year
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To me, this is not exciting than having a bitcoin strategic reserve. According to the news, it is not compulsory for 100% of the salary to be in bitcoin and it is not also compulsory to pay in bitcoin. The idea could easily die off since there is no compulsion. Any adoption that is left in the hands of the citizens might likely not strive. Take El Salvador for instance.
I get your point, although forcing people to adopt something usually isn't good idea.
Bitcoin strategic reserve and stockpile is the deal.
That's true, if we talk about amount of Bitcoin that could be involved/circulated. But it's also another case of Bitcoin being HODL/used as investment, rather than as currency or payment option.
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Bitcoin strategic reserve and stockpile is the deal.
That's true, if we talk about amount of Bitcoin that could be involved/circulated. But it's also another case of Bitcoin being HODL/used as investment, rather than as currency or payment option.
Lately, it seems that everyone is becoming truthful to themselves. That debate is gradually fading off as everyone is tilting towards HODLing and taking larger profits. In my early days in bitcoin, people glorify a few who uses bitcoin like a currency. But today, more and more accolades are given to the likes of Saylor.
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
I think otherwise, as reserve news is the biggest news and achievement for the crypto world, think for a second, a country, that powerful will adopt BTC and some other tokens, where crypto will go, and how many innovations we can see, while a country is just allowing people to get their salaries in BTC, I mean, how many people will just accept this offer.
I don't think more than 70% of the population will agree to take their salaries in crypto. Therefore the biggest news is the government reserve in compared to this salary thing. However this news is also bullish if the bill get passed.
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
This is good news for BTC because the government can only tax BTC salaries when they recognize BTC's legality in the economy. However, I'm not sure if anyone in the market would want to pay and receive salaries in BTC, they're too used to fiat and often find BTC price too unstable to hold it outside of an investment portfolio.
I'm interested in the implications of this law: every citizen can own, invest, and trade BTC without being considered a criminal or facing serious criminal charges. Obviously, if this law passes, it will open the door for large capital inflows into BTC and crypto in this country. I can't assess its positive impact on the global crypto market, but at least we have an example of BTC acceptance and adoption for other governments to refer to.
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Brazil introduces new bill to legalize salary payment in Bitcoin
Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
To me, this is not exciting than having a bitcoin strategic reserve. According to the news, it is not compulsory for 100% of the salary to be in bitcoin and it is not also compulsory to pay in bitcoin. The idea could easily die off since there is no compulsion. Any adoption that is left in the hands of the citizens might likely not strive. Take El Salvador for instance.
Bitcoin strategic reserve and stockpile is the deal.
Really depends on the population, maybe when El Salvador introduce it, the citizens are not ready that's why it didn't get any traction. Although I believed that as time passes by, El Salvadorian fight it good to used Bitcoin as payment scheme or even as a salary as they can take advantage of it's volatility to make profits.
As for the Bitcoin reserves, I guess it's just another term for countries that have been holding Bitcoin for many years so I don't know if it will have a big impact. Because the last time we have seen, the US says that they will hold their Bitcoin as a reserve but it didn't have any positive effect on the market.
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
I think otherwise, as reserve news is the biggest news and achievement for the crypto world, think for a second, a country, that powerful will adopt BTC and some other tokens, where crypto will go, and how many innovations we can see, while a country is just allowing people to get their salaries in BTC, I mean, how many people will just accept this offer.
I get your point, although BTC adaption is limited as investment purpose. But can you share example of innovation we can see if more country adopt BTC?
I don't think more than 70% of the population will agree to take their salaries in crypto. Therefore the biggest news is the government reserve in compared to this salary thing. However this news is also bullish if the bill get passed.
70%? If this bill is passed, i would be surprised if more than 10% worker agree to get part of their salary in Bitcoin.
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I get your point, although BTC adaption is limited as investment purpose. But can you share example of innovation we can see if more country adopt BTC?
Well, there can be many innovations in financial, global trade, and taxation systems, etc. I was talking about future innovations if the reserve thing becomes real, so we can even see less restrictions by authorities thus we can see more autonomous tools, and more projects with different narratives will be there due to a friendly environment. (That's what I meant by new innovations). If we want to go deep, maybe innovations to safe BTC from QCs but yeah even without reserve thing it will happen but if BTC becomes a reserve coin for USA, then they have to make sure that developers do the upgrade.
70%? If this bill is passed, i would be surprised if more than 10% worker agree to get part of their salary in Bitcoin.
Haha, well your stats are even better, not even 10% would want that haha.
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Interesting. I don't know if this proposal will be accepted or not in order to move forward, but what I am sure of is that it will be a good option to give more visibility to Bitcoin and allow people (who have previously accepted it) to receive their salaries in Bitcoin. It would also be interesting to give citizens who agree to receive their salaries in Bitcoin the option to choose the percentage they want to receive in Bitcoin. This would give them much more freedom, and thanks to this flexibility, more people would be interested.
Let's hope the proposal is a success and that other countries' governments can do the same in the near future.
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It would also be interesting to give citizens who agree to receive their salaries in Bitcoin the option to choose the percentage they want to receive in Bitcoin.
i don't think it is bad to keep it at 50%, some people may not understand BTC well and go for 100% of the salary to be paid in BTC and if this happens and the price falls, they start crying about that. If it is implemented, being able to receive up to 50% is great in my opinion.
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Interesting. I don't know if this proposal will be accepted or not in order to move forward, but what I am sure of is that it will be a good option to give more visibility to Bitcoin and allow people (who have previously accepted it) to receive their salaries in Bitcoin.
Well aside from the debate of if it would be accepted or not , it may not be as effective as some persons imagine it. This is because it wouldn't really count if a person who lives off that salary is paid in bitcoin because he would end up converting it to fiat in no time to be able to spend from it.
However it would probably make more sense if it was more like a side hustle where the salaries would seem like a straight up investment, something like the DCA infact.
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Its good thing but its hard for everyone to convert in fiat because everyone may not know about bitcoin and also hard him to convert in fiat, also its hard for shop keepers to accept crypto.
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Its good thing but its hard for everyone to convert in fiat because everyone may not know about bitcoin and also hard him to convert in fiat, also its hard for shop keepers to accept crypto.
I am having a hard time understanding what you are saying, we are talking about workers receiving 50% of their salaries in BTC, if the bill eventually turns into law. Nobody is going to be compelled to receive their salary in BTC, it has to be upon agreement between employer and empoyee. It is also easy to trade BTC for fiat in an exchange, the only thing to consider is fees.
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Its good thing but its hard for everyone to convert in fiat because everyone may not know about bitcoin and also hard him to convert in fiat, also its hard for shop keepers to accept crypto.
It takes those workers who knows about crypto to accept BTC for salary payment. Besides, it's not a do or die affair, it's something which the employee/employer has to agree upon, if any of the workers seem it useless paying them with BTC then they can ask for fiat payment.
According to the news, it's not a law that they must be paid in Bitcoin, rather it's a choice of the employee to accept or reject the offer from their employers.
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Its good thing but its hard for everyone to convert in fiat because everyone may not know about bitcoin and also hard him to convert in fiat, also its hard for shop keepers to accept crypto.
It takes those workers who knows about crypto to accept BTC for salary payment. Besides, it's not a do or die affair, it's something which the employee/employer has to agree upon, if any of the workers seem it useless paying them with BTC then they can ask for fiat payment.
According to the news, it's not a law that they must be paid in Bitcoin, rather it's a choice of the employee to accept or reject the offer from their employers.
even if the government mandates its employers to pay in BTC, the employees will complain about the BTC transaction fees. why should they should all these troubles when the fiat system works for them.
why don't they start like how the El Salvador did it. give away BTC worth $30 for anyone downloading their own Bitcoin wallet. see if the adoption takes place. maybe it will work for them as the biggest country in the Latin countries.
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Brazil introduces new bill to legalize salary payment in Bitcoin
Brazil may be the next in line to legalize salary payments in Bitcoin, after the National Congress received a bill pushing for the move. According to reports, Congress received a bill that will allow employees to take their salaries and other remunerations in Bitcoin and other digital assets... Read more here (https://www.cryptopolitan.com/brazil-bill-to-legalize-salary-in-bitcoin/).
Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
It is a very exciting news to hear so long as one is a crypto enthusiast and a lover of the crypto industry. But as a bill, it has to be voted for in other to be implemented into system. Now, as politicians with their different motives, does he have a good reputation among his people and trusted by his words when he speaks, or is he a regular politician, who uses every possible means to achieve his political ambitions? Cause this could have effect for accepting or declining the bill.
Seeing it this other way that the bill is accepted, for how long will the employers continue to use it as a system of salary remuneration, cause there is always price changes, price might go high today, and the next month when paying, it might be two times lower? If the people or employees has no knowledge about Bitcoin, it might be of no interest to them.
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Its good thing but its hard for everyone to convert in fiat because everyone may not know about bitcoin and also hard him to convert in fiat, also its hard for shop keepers to accept crypto.
It takes those workers who knows about crypto to accept BTC for salary payment. Besides, it's not a do or die affair, it's something which the employee/employer has to agree upon, if any of the workers seem it useless paying them with BTC then they can ask for fiat payment.
According to the news, it's not a law that they must be paid in Bitcoin, rather it's a choice of the employee to accept or reject the offer from their employers.
even if the government mandates its employers to pay in BTC, the employees will complain about the BTC transaction fees. why should they should all these troubles when the fiat system works for them.
why don't they start like how the El Salvador did it. give away BTC worth $30 for anyone downloading their own Bitcoin wallet. see if the adoption takes place. maybe it will work for them as the biggest country in the Latin countries.
I see it as a pattern the Brazilian government wants to take to also express it's support for Bitcoin and Crypto at large, seeing the adoption of this digital asset by other nations.
Furthermore, the news explains that the bill has just been passed to the National Congress, so it's just on the first stage of evaluation, besides, the news article stated that the company will also provide education to the employees who will be willing to accept their salary in the form of a digital asset.
See quote below.
In the bill, Philippe mentioned that companies should provide detailed payment statements and offer financial education to workers who want to collect their salaries in digital assets. He added that they need to cover concepts like market volatility and transaction security. The project also ensures that labor and social security charges are calculated based on the total value of remuneration expressed in reais.
Probably, the employees must have understood any negative effect it would incure on them before accepting this pattern of payment, otherwise they prefer to stick with the traditional fiat payment method.
Since it's a choice.
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
For this move and news publicly known, it is already a plus to bitcoin community and even though it is not passed and approved, it is likely going to be a positive trend and help in the development of bitcoin more in that region. The move of Trump is really making other country’s president taking a major shift and involvement in bitcoin. It may take time but soon we will see a good news from Brazil about bitcoin.
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.
A development like this would bring a lot of exposure to Bitcoin among the workforce in Brazil, exposing them to Bitcoin and also the benefits involved. I think the option should be made for workers, that is, those who would want to receive the entirety of their salary in Bitcoins and those who would want to receive a percentage of it in Bitcoin, while those workers who will prefer receiving their salaries through the normal traditional method of using the traditional currency.
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Seeing it this other way that the bill is accepted, for how long will the employers continue to use it as a system of salary remuneration, cause there is always price changes, price might go high today, and the next month when paying, it might be two times lower? If the people or employees has no knowledge about Bitcoin, it might be of no interest to them.
Using an old price to determine how much BTC they need to pay sounds a bit silly tbh. I think it makes more sense if they use the BTC price a few days or hours before they send the payout. A week or even a one-month-old price has a high degree of variance. People who choose to accept BTC as the payment option should know about this to begin with, so they're fine with some degree of variance but not 50% or so because the employer uses an old price.
I know it will be more complicated compared to weekly sig payments, but if they want to pay people with Bitcoin or crypto, they should prepare the necessary infrastructure first.
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Seeing it this other way that the bill is accepted, for how long will the employers continue to use it as a system of salary remuneration, cause there is always price changes, price might go high today, and the next month when paying, it might be two times lower? If the people or employees has no knowledge about Bitcoin, it might be of no interest to them.
Using an old price to determine how much BTC they need to pay sounds a bit silly tbh. I think it makes more sense if they use the BTC price a few days or hours before they send the payout. A week or even a one-month-old price has a high degree of variance. People who choose to accept BTC as the payment option should know about this to begin with, so they're fine with some degree of variance but not 50% or so because the employer uses an old price.
I know it will be more complicated compared to weekly sig payments, but if they want to pay people with Bitcoin or crypto, they should prepare the necessary infrastructure first.
I agree and that is one draw back here that I see. In any case, the price should be just hours before the payout itself so there could only be small variance and it will be fair to the employees themselves.
Maybe in the beginning, they will have to adjust their infrastructure. But as soon as they have understand everything, it could be just as easy as it used to be. Just plugging the right data, like the current price, and then everything should be automated and seamless.
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Seeing it this other way that the bill is accepted, for how long will the employers continue to use it as a system of salary remuneration, cause there is always price changes, price might go high today, and the next month when paying, it might be two times lower? If the people or employees has no knowledge about Bitcoin, it might be of no interest to them.
Using an old price to determine how much BTC they need to pay sounds a bit silly tbh. I think it makes more sense if they use the BTC price a few days or hours before they send the payout. A week or even a one-month-old price has a high degree of variance. People who choose to accept BTC as the payment option should know about this to begin with, so they're fine with some degree of variance but not 50% or so because the employer uses an old price.
I know it will be more complicated compared to weekly sig payments, but if they want to pay people with Bitcoin or crypto, they should prepare the necessary infrastructure first.
the most fair and logical thing to do is if they converted fiat to bitcoin the exact day of the pay out but there could be instances where the employer will find a day where bitcoin is quite cheap and convert fiat to bitcoin at that time even if it is not yet pay day
i guess there really is nothing wrong there as long as the employer gives the same amount as if it were in fiat money but some employers i know would be frustrated with trying to navigate through the fluctuation of prices
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Its great to listen but i think its too early stage of crypto to pay sallary in bitcoin bcz not every employee known about bitcoin so its hard for him to convert it in fiat currency.
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I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.
But overall thinking it is very positive news for crypto lover and crypto industry. I think Brazil authority did fantastic. It will creat positive impact on cryptocurrency market. And i also think gradually most of the countries will allow cryptocurrency mainly Bitcoin will allow cryptocurrency. We know that El Salvador also legalized Bitcoin. And now Brazil did it, i think gradually good time is coming for cryptocurrency market.
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I don't know, but for many jobs, the employee consumes 100% to 40% of their salary before the end of the month, and during this period, the price of Bitcoin may decline, so this option will not be attractive for middle/low-income jobs. It may be good for high-income jobs or as part of pension plans or annual incentives.
First, 100% of employees salary spent before the end of the month means that employees in Brazil depends on borrowing, or advance salaries payments before the end of a month, unfortunately, at the end of a month, they have no earning by a simple mathematics.
However, despite this drawbacks, payments to employees with Bitcoin can be worked out if the proposed legislation is implemented.
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I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.
But overall thinking it is very positive news for crypto lover and crypto industry. I think Brazil authority did fantastic. It will creat positive impact on cryptocurrency market. And i also think gradually most of the countries will allow cryptocurrency mainly Bitcoin will allow cryptocurrency. We know that El Salvador also legalized Bitcoin. And now Brazil did it, i think gradually good time is coming for cryptocurrency market.
Yes, Your comment is also very prefer in this time. We know that bitcoin is one of the best familiar and profitable crypto in cryptocurrency world. I think that bitcoin will reach all of the country in the world.
Because i think that bitcoin users can easily receive there payment. So i believe that brazil could start to legalize salary payment in bitcoin, which is correct decision in this time. So i believe that if our government can decided to payment in bitcoin and bitcoin will be a legalize currency for our country, i think that it will be very perfect for us.
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Wow, this is just the first time I’ve read about this, and I think their government is taking a great initiative. Having an option to receive a salary like that is a good thing, just because I do crypto, and it’s like an automatic savings account that would be hard to spend right away.
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I think the bill is very flexible and is not supposed to cause much dilemma in passing it into law. I noticed a few impressive things about the bill which make me believe that it will not cause many problems for the citizens or even the government.
- The bill indicates that only 50% of the salary or wages will be paid in Bitcoin. This is necessary to still protect the country's currency.
- The law will not be forced on anyone; you have the right to decide what payment method you want.
This is indeed a good move, if only the government will not politicize it.
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Its great to listen but i think its too early stage of crypto to pay sallary in bitcoin bcz not every employee known about bitcoin so its hard for him to convert it in fiat currency.
if this is early stage then when will they adapt to cryptocurrency? times are changing and we can't let people get left behind all the time because while the world will keep spinning they will be the ones on the backfoot
there is a very clear solution to this which is to make sure that they are informed very carefully so that they do not do anything foolish with the salary that will be paid to them i believe a seminar of some sort can be extremely helpful
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I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.
But overall thinking it is very positive news for crypto lover and crypto industry. I think Brazil authority did fantastic. It will creat positive impact on cryptocurrency market. And i also think gradually most of the countries will allow cryptocurrency mainly Bitcoin will allow cryptocurrency. We know that El Salvador also legalized Bitcoin. And now Brazil did it, i think gradually good time is coming for cryptocurrency market.
This time is very friendly to bitcoin as positive news are flying everywhere in the internet. It is not only about individuals now or institutions but now countries are diving into bitcoin and it is right time for individuals to occupy a good place in the bitcoin space.
Brazil has done good but as I said earlier, using bitcoin for salaries won't increase the price of bitcoin, but the strategic reserve will do more.
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It is an exciting topic that Brazil will use Bitcoin as a digital asset. The current Bitcoin addition stands out as more exciting than the news of the bill. Bitcoin can be used in investment as well as in consumption. Bitcoin is able to move a country forward economically. It allows employees to use Bitcoin and other digital assets as remuneration. I think if Bitcoin is legalized in all countries, it will be able to move forward economically.
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It is an exciting topic that Brazil will use Bitcoin as a digital asset. The current Bitcoin addition stands out as more exciting than the news of the bill. Bitcoin can be used in investment as well as in consumption. Bitcoin is able to move a country forward economically. It allows employees to use Bitcoin and other digital assets as remuneration. I think if Bitcoin is legalized in all countries, it will be able to move forward economically.
The positive aspects are many and can be beneficial for Brazilian citizens, that's true, but we must look at what happened in El Salvador to analyze the mistakes...
While it's true that in El Salvador the Bukele government forced companies and small businesses to accept Bitcoin as a payment method, and in Brazil it could be used to pay workers' salaries, both cases are different, but they have something in common. If it's something imposed by obligation, it won't be successful, but if it's something presented to citizens as optional, it will probably work much better.
The path and the goal are the same, but how the government does it is what can change the game.
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The positive aspects are many and can be beneficial for Brazilian citizens, that's true, but we must look at what happened in El Salvador to analyze the mistakes...
While it's true that in El Salvador the Bukele government forced companies and small businesses to accept Bitcoin as a payment method, and in Brazil it could be used to pay workers' salaries, both cases are different, but they have something in common. If it's something imposed by obligation, it won't be successful, but if it's something presented to citizens as optional, it will probably work much better.
they presented bitcoin as a legal option but not a lot of people decided to bite on it because bitcoin no matter how much we dislike still is not preferred by average citizens that are not that rich and can’t afford to spend money on bitcoin’s fees and now el salvador is forced to make a deal to get a loan that requires them to take a step back with using bitcoin
The path and the goal are the same, but how the government does it is what can change the game.
el salvador is hoping to save their economy with bitcoin we need to see if brazil and el salvador has the same economic situations
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I don't think the news of Bitcoin reserves has any value anymore, especially when it was revealed that the USA will not buy any new Bitcoins, will only reserve with confiscated Bitcoins. However, the news of paying salaries in Bitcoins in Brazil can definitely be more effective than that news. Because if it is implemented, the scope of Bitcoin in Brazil can be greatly expanded. Which will have a positive effect not only in Brazil but also in other countries of the world.