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Comment by ramijames | Hacker News Reader

We use cryptocurrencies. Fast. Free. Immutable and provable.

This is 2019 guys. Get with the program.

How does your accounting work? Is your accountant also up to date with the 2019 program?

Are there any caveats to this that you didn't mention? Are they all contract 1099? What about healthcare and retirement contributions and considerations?

I never understand why people bring up accountants or taxes when talking about cryptocurrencies. Seriously, you negotiate with your employer an hourly rate, you get paid that hourly rate and is what you should report.

The way you receive your salary at the end of the day (bank transfer or crypto) is completely decoupled from this. In the same way you don't need to tell the taxman what bank did you use to receive your wage, you don't need to tell what cryptocurrency you used (if you don't convert instantly to fiat when receiving it, that will mean you will have more taxable events later, but this is another subject).

How is converting it to fiat a different subject when most people need to be paid in something that can then be used for rent/food/literally everything else?

This entire thread is insane.

The second a job tries to pay me in crypto is the second I'm looking for another job.

Depends on the amount of money involved, doesn't it? I don't care how you pay me, as long as the amounts involved make it worth my time.

It's not that much different than receiving foreign money, I get paid in dollars, but I use the local money in everyday life.

This is equivalent to saying you don't have to tell the IRS you paid someone in USD or gum.

All you’ve done is make it clear that you have never run a business.

Until one of your employees wallets gets compromised and poof no more pay check for that cycle and no FDIC insurance.

If your employees are developers, and they don't comply with basic security precautions, they are not very good developers. Either way, if they get compromised, it's not the employer's problem.

I consider myself a good developer, I couldn't tell you the first thing about keeping a crypto wallet secure.

This comment doesn't make sense.

Also...

>if they get compromised, it's not the employer's problem.

Until they can't pay rent which has been known to affect output, or they try and make it your problem (they don't even have to succeed, just trying is enough to be a hassle.)

Hm. The only area I know, that does not handle security properly is IoT, and even that is a constant target for jokes. So I am legitimately interested in knowing what is it you do, that does not involve files with restricted access?

This has worked well for me and is what converted me to being a crypto-vangelist. Anyone who's tried to pay a team in india in USD and had it often take well over a week will appreciate when you can get it done in under 45 min using crypto.

I second this. I'm a dev contractor and get paid in ether (preferred). It's instant and no bs wire fees.

Why the downvotes? Are you downvoters fiat maximalists?

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