Tuesday, February 11, 2020

[uncensored-r/BitcoinMarkets] [Altcoin Discussion] Wednesday, February 12, 2020

The following post by AutoModerator is being replicated because some comments within the post(but not the post itself) have been silently removed.

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Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

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Bitcoin Hits 5-Month High Following Fed Chair Powells Privacy Praise (current BTC/USD price is $10,270.48)

Latest Bitcoin News:

Bitcoin Hits 5-Month High Following Fed Chair Powells Privacy Praise

Other Related Bitcoin Topics:

Bitcoin Price | Bitcoin Mining | Blockchain


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


Download offline ethereum

Download Offline Ethereum has an inbuilt digital currency Ethereum’s token is called Ether, abbreviated to ETH. This is a cryptographic money that can be exchanged for different digital forms of money or other sovereign monetary forms, much the same as BTC.

Its present worth is around US$13 per ETH token (Oct 2016). Token proprietorship is followed on the Ethereum blockchain, much the same as BTC possession is followed on Bitcoin’s blockchain, however at a specialized level they track them in somewhat various manners. For additional on cryptographic forms of money and tokens see a delicate prologue to computerized tokens. How is

Download Offline Ethereum distinctive to Bitcoin? This is the place it gets increasingly specialized and from various perspectives progressively unpredictable. Ethereum’s square time is shorter In

Download Offline Ethereum the time between squares is around 14 seconds, contrasted and Bitcoin’s ~10 minutes. This implies overall in the event that you made a Bitcoin exchange and an Ethereum exchange, the Download Offline Ethereum exchange would be recorded into Ethereum’s blockchain quicker than the Bitcoin.


How To Gain From Bitcoin Investment

For some, individuals, purchasing a lot of Bitcoin isn't a monetarily feasible speculation procedure. In any case, fortunately there are currently more options than any other time in recent memory that make it simple for individuals to acquire bitcoin.

What's more, in all honesty, at times, you need to do nothing to begin winning.

How about we investigate what every one of your alternatives are, from tolerating bitcoin from your manager to keeping it in an enthusiasm procuring crypto account. Contingent upon your short, medium, and long haul objectives, every alternative has various advantages for your favored strategy for procuring Bitcoin.

  1. Gain Bitcoin with a Crypto Interest Account

Similarly that individuals used to (and, let's face it, despite everything do) store their cash in financial balances and get enthusiasm on their stores, crypto premium records are another and energizing model for the blockchain business. This model is frequently done to in various manners, including enthusiasm gaining accounts. A few people additionally allude to this just as loaning out your Bitcoin. At last, the outcome is the equivalent — by moving your Bitcoin or different cryptographic forms of money to the budgetary specialist organization, you will win enthusiasm on your Bitcoin after some time.

How do crypto intrigue accounts work?

Various organizations presently offer the capacity to acquire enthusiasm on your crypto possessions. The fundamental structure is that you send your crypto to your wallet specialist co-op's site and after some time you will gain intrigue. This gives another approach to crypto HODLers to store and win on their crypto-resource possessions.

As of late the loan costs offered by banks have brought down, making the profits not exactly perfect. People have been compelled to discover other lucrative arrangements. Until this point, there have been practically no alternatives for crypto holders.

Crypto holders are presently going to the option money related specialist organizations for these administrations. Customers can gain up to 6% yearly enthusiasm on their Bitcoin and Ether. The premium customers gain likewise mixes, boosting their yearly returns.

For instance, with accumulated dividends, clients' viable yearly enthusiasm following a year at 6% would be 6.2%, including much progressively long haul development openings.

Pursue the most elevated enthusiasm acquiring for bitcoin available.

  1. Get Cash-Back in Bitcoin When You Shop Online

Ebates, a well known Google Chrome Extension, offers clients money back for their buys from a large number of sites. They work with practically all major online retailers, including everything from Best Buy, to Groupon, to Nike. When you introduce the augmentation and make a record, Ebates will tell you if there are limits accessible while you peruse a retailer's site. In a single tick you can initiate the limits. Toward the finish of each quarter, you get a check from Ebates with your money back parity. It's that basic.

In crypto, an organization called Lolli is offering comparative administrations. Make buys on sites like Sephora, Macys, or CVS and get money back in Bitcoin. Each store has an alternate impetus sum. Some idea as much as 9% money back. Others will offer a set measure of BTC. This is a simple method to win free Bitcoin while making your ordinary buys.

  1. Procure Bitcoin With Affiliate Marketing

Partner showcasing is a well known approach to gain cash for bloggers, news locales, internet based life influencers, and consistently individuals. Organizations give one of a kind URLs or Promo Codes for associate advertisers to convey to their crowds. On the off chance that somebody who taps on that connection makes a buy on your subsidiary connection, you will get a prize.

https://preview.redd.it/vi5h9hby6fg41.jpg?width=399&format=pjpg&auto=webp&s=63d81f1c6e8739e0e1923596432c04f3dfe3dc36

What amount would i be able to gain from offshoot rewards?

Each organization structures their associate program in an unexpected way. For a great deal of online business brands, you will procure a level of the complete request measure of the client you alluded to them. For different organizations, you may get a set expense for each individual who pursues an assistance utilizing your promotion code.

For instance, Coinbase will pay you $10 for each client who joins and stores in any event $100. Another mainstream trade, Binance, presents to 40% of the exchange expenses of your referrals. For individuals with large crowds, that can signify a great many dollars for each month.

Another option is BlockFi's associate program, which offers 10% of premium earned by referrals to the BlockFi Interest Account and $50 or 10 premise focuses on the credit sum (whichever is more prominent) of a financed advance. Get familiar with how to turn into an offshoot.


[Daily Discussion] Wednesday, February 12, 2020

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[Altcoin Discussion] Wednesday, February 12, 2020

Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:


Bitcoin Spiking Above $10300 Sends Google Search Volumes Exploding (current BTC/USD price is $10,275.88)

Latest Bitcoin News:

Bitcoin Spiking Above $10300 Sends Google Search Volumes Exploding

Other Related Bitcoin Topics:

Bitcoin Price | Bitcoin Mining | Blockchain


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


Will my friend get in trouble if she reports a scam but there was discussion of sex?

My friend got scammed this weekend by someone who responded to her ad looking for a place to rent. Yes she was wrong on her end but with life struggles and financial issues and a moment of weakness, it happened. She is aware now that it was not a good choice and had learned a lot from this. He offered her rent free and allowance to spoil her and for her to be his companion/friend. The subject of sex came up during their text conversation and in the end she agreed to the arrangement. Not knowing the laws or anything really about things like this, she didn't think it was a huge deal at the time. He agreed to send her money and got her to use Shakepay. None of her financial information was given to him. Unfamiliar with Shakepay and Bitcoin, he walked her through the steps to except his money. She was replying to emails that she thought was Shakepay but in the end was really him. The sign up for Shakepay was legit and the emails she got after the sign up were similar to the ones Shakepay sent when she signed up to confirm account, but were really from him. He basically got her to put money on Shakepay as a deposit to accept his money and without her realizing what he was getting her to do, he got her to transfer it to his Bitcoin code. Again she thought she was dealing with Shakepay in emails. So in the end she was out $1500 (more to the story and events as to why it was this much, but too long to share) and never got the money he supposedly sent her originally because he canceled it. She wants to report it to the police so he doesn't do it to anyone else. She has already notified Shakepay and they have put a hold on his Shakepay account to investigate. But she is worried that if she files a report to the police, that she will get in trouble for discussing sex and it will look like he was paying her for sex when originally it was for free rent and allowance for friendship. Yes so basically her sugar daddy, to put it into proper terms. Will she get in trouble if she reports it to the police? She has tried researching on Google but is overwhelmed. This took place in Alberta.


[uncensored-r/BitcoinMarkets] [Altcoin Discussion] Sunday, February 09, 2020

The following post by AutoModerator is being replicated because some comments within the post(but not the post itself) have been silently removed.

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np.reddit.com/r/ BitcoinMarkets/comments/f13bve

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Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:


How to Red Flag Scams: Bitcoin Doubler Club, Cryptomia247, Mining Cheap, Orelex, and Wintrust (current BTC/USD price is $10,167.40)

Latest Bitcoin News:

How to Red Flag Scams: Bitcoin Doubler Club, Cryptomia247, Mining Cheap, Orelex, and Wintrust

Other Related Bitcoin Topics:

Bitcoin Price | Bitcoin Mining | Blockchain


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


[uncensored-r/BitcoinMarkets] [Daily Discussion] Tuesday, February 11, 2020

The following post by AutoModerator is being replicated because some comments within the post(but not the post itself) have been silently removed.

The original post can be found(in censored form) at this link:

np.reddit.com/r/ BitcoinMarkets/comments/f22su3

The original post's content was as follows:


Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


Freewallet is ranked as one of the best crypto wallets according to Go CryptoWise

Freewallet is ranked as one of the best crypto wallets according to Go CryptoWise!

The guide notes that “you can use Freewallet for securely storing popular coins and tokens such as BTC, ETH, EOS, XMR, BCH, XLM, NEO, XRP and many more on their respective blockchains”. Go CryptoWise produces helpful engaging content for beginners to experts alike in the cryptocurrency and blockchain space. Guides, reviews, interviews and much more. To help people invest smarter, get trading tips, learn more and have fun! Made for crypto enthusiasts only. 

Keep on reading the guide on Go CryptoWise, and choose the most suitable crypto wallet.



coinbase-believes-bitcoin-will-become-true-store-of-value-post-halving-cryptoknowmics

As the Bitcoin halving event is coming closer, Coinbase has started a new narrative, “Bitcoin as digital gold.” Coinbase on its twitter handle and blogpost mentioned that halving and subsequent supply rate reduction were the key reasons on why Bitcoin is being linked with digital gold.


Bitcoin Daily: Trump Plans To Expand Crypto Policing; Crypto Startup Asks For UK Bank License (current BTC/USD price is $9,753.68)

Latest Bitcoin News:

Bitcoin Daily: Trump Plans To Expand Crypto Policing; Crypto Startup Asks For UK Bank License

Other Related Bitcoin Topics:

Bitcoin Price | Bitcoin Mining | Blockchain


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


Childhood Friends Battle Over Ownership of North Americas Largest Bitcoin Mine (current BTC/USD price is $9,794.32)

Latest Bitcoin News:

Childhood Friends Battle Over Ownership of North Americas Largest Bitcoin Mine

Other Related Bitcoin Topics:

Bitcoin Price | Bitcoin Mining | Blockchain


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


What is Bitcoin Cash (BCH)? — 'Bitcoin….. But Not' — Beginner's Guide

https://www.publish0x.com/the-crypto-enthusiast-blog-intro/what-is-bitcoin-cash-bch-bitcoin-but-not-beginners-guide-xqzjev?a=MVyb82mevA

What is Bitcoin Cash (BCH)? — 'Bitcoin….. But Not' — Beginner's Guide

https://www.publish0x.com/the-crypto-enthusiast-blog-intro/what-is-bitcoin-cash-bch-bitcoin-but-not-beginners-guide-xqzjev?a=MVyb82mevA

What is Bitcoin Cash (BCH)? — 'Bitcoin….. But Not' — Beginner's Guide

https://www.publish0x.com/the-crypto-enthusiast-blog-intro/what-is-bitcoin-cash-bch-bitcoin-but-not-beginners-guide-xqzjev?a=MVyb82mevA

What is Bitcoin Cash (BCH)? — 'Bitcoin….. But Not' — Beginner's Guide

https://www.publish0x.com/the-crypto-enthusiast-blog-intro/what-is-bitcoin-cash-bch-bitcoin-but-not-beginners-guide-xqzjev?a=MVyb82mevA

What is Bitcoin Cash (BCH)? — 'Bitcoin….. But Not' — Beginner's Guide

https://www.publish0x.com/the-crypto-enthusiast-blog-intro/what-is-bitcoin-cash-bch-bitcoin-but-not-beginners-guide-xqzjev?a=MVyb82mevA

Bitcoin Supply Will Soon Reduce, Even as Inflation Reaches Highest Level Since 2018 (current BTC/USD price is $9,744.24)

Latest Bitcoin News:

Bitcoin Supply Will Soon Reduce, Even as Inflation Reaches Highest Level Since 2018

Other Related Bitcoin Topics:

Bitcoin Price | Bitcoin Mining | Blockchain


The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.


BTC MIXERS: GOOD OR BAD?

Several major cryptocurrency exchanges, including Paxful and Binance, have recently demonstrated their negative attitude to mixing services.

🤹‍♀️ A cryptocurrency mixing service (cryptocurrency tumbler, Bitcoin mixer) is a special tool intended to mix ‘tainted’ or pseudo-anonymous coins with others. It makes tracing their origin very hard. It should be noted that a BTC mixer is not always used for money-laundering and other criminal purposes. Some law-abiding people apply it just for the love of privacy.

🕵️‍♀️ Obviously, crypto exchanges seek to decrease the level of privacy in order to increase transparency and security. In such a way, they want to ensure better compliance with KYC/AML regulations and avoid getting involved with ‘dirty money’. As for exchange users, many of them don’t agree with this strategy and see it as an attempt to pry into their business.

The latest event of this kind involved Paxful exchange - they blocked the account of the user Ronald McHodled when he tried to withdraw his funds. The exchange support service was worried that Ronald had tried to withdraw the money to a well-known mixing service and demanded explanations.

🤷‍♂️ McHodled himself declares he did not use this mixing service for any bad purpose. According to him, it was like using an ATM for withdrawing cash.

And what do you think?

https://preview.redd.it/x0ecrbka19g41.png?width=900&format=png&auto=webp&s=44b4e2f70e6df26cfcbf92b833e5ac53757a052a


Download offline ethereum

Download Offline Ethereum has an inbuilt digital currency Ethereum’s token is called Ether, abbreviated to ETH. This is a cryptographic money that can be exchanged for different digital forms of money or other sovereign monetary forms, much the same as BTC.

Its present worth is around US$13 per ETH token (Oct 2016). Token proprietorship is followed on the Ethereum blockchain, much the same as BTC possession is followed on Bitcoin’s blockchain, however at a specialized level they track them in somewhat various manners. For additional on cryptographic forms of money and tokens see a delicate prologue to computerized tokens. How is

Download Offline Ethereum distinctive to Bitcoin? This is the place it gets increasingly specialized and from various perspectives progressively unpredictable. Ethereum’s square time is shorter In

Download Offline Ethereum the time between squares is around 14 seconds, contrasted and Bitcoin’s ~10 minutes. This implies overall in the event that you made a Bitcoin exchange and an Ethereum exchange, the Download Offline Ethereum exchange would be recorded into Ethereum’s blockchain quicker than the Bitcoin.


Use of Blockchain Technologies in the Field of Labor

https://preview.redd.it/vvyaycga09g41.jpg?width=1275&format=pjpg&auto=webp&s=e26e7f5f125e3a7e068a1a29e05989eb1c33822e

The issues of using blockchain technologies, conducting ICOs and the use of cryptocurrencies are relevant not only for the field of law, but also for political, economic, other sciences, and are also of interest to ordinary citizens.

Labor law does not remain aloof from the development of technology, as well as globalization processes, which necessitates the conduct of relevant scientific research.

For a short time, judicial practice is changing, the approaches of state bodies in matters of cryptocurrency transactions, their theft, seizure, etc. At the same time, electronic technologies are acquiring special significance in the field of labor law. Workflow experiments, discussions about the need to introduce workbooks, electronic sick-lists, and the work of remote workers — information technologies have already found application in all these areas.

In addition, at the present time, given the globalization processes, there is a need to increase pay opportunities. It is no accident that in some countries the possibilities of a monetary form of remuneration have expanded by assuming, under certain conditions, remuneration in the currency of other states. Based on this provision, the question arises about the practical feasibility of using cryptocurrency workers as wages, as well as the use of blockchain technologies in the world of work.

Blockchain is a technology of distributed databases (registries) based on a constantly renewed chain of records. The name Cryptocurrency, meaning “cryptocurrency”, appeared in Forbes magazine in 2011. However, cryptocurrencies themselves would not have been so widespread without a blockchain system that provides all the necessary elements for circulation.
Cryptocurrency is a special kind of electronic means of payment. Strictly speaking, this is a mathematical code. It is called so because of the use of cryptographic elements in the circulation of this digital money, namely, an electronic signature.

https://preview.redd.it/7s4qq1s949g41.jpg?width=877&format=pjpg&auto=webp&s=2bdb9dbb0a4bde88e302047c55b7207e1f66d347

The popularity of cryptocurrencies is due to a number of factors that directly affect labor law.

Such electronic money is universal regardless of the place of work, the legal form of the employer or the citizenship of the employee. Cryptocurrencies are not tied to a particular state or bank. This decentralization is one of their main advantages, which encourages many countries to start using cryptographic currencies for international payments and as reserve currencies. Bitcoin operations are increasingly being conducted on global financial markets. In the future, this factor allows creating a single world labor market, where remuneration for labor will be paid in a single form and currency, without linking this money to specific countries and existing systems. This will significantly simplify emerging issues and difficulties in relations associated with employees located abroad. This eliminates the need for multiple transfers of funds and the exchange of one currency for another.

From this point of view, I would like to draw attention to the main problems associated with the use of cryptocurrencies in remuneration.

One of the most acute problems is associated with tax legislation. Incomes of employees are taxed, while the employer, as a tax agent, performs this function for the employee. A distinctive feature of all operations with cryptocurrencies is their anonymity and lack of control. All operations occur instantly since they are not controlled by anyone and are not delayed for checks. Accordingly, the tax authorities do not know the number of funds received by the employee for the performance of his labor function, cannot personify the taxpayer and his tax burden. Similarly, the employer and employee are able to evade the payment of taxes, which is a violation of the law.

It is also important for the legislator to determine which form of labor remuneration should include cryptocurrencies. When assigned to cash, there are fewer problems with the payment and regulation of these funds, since in accordance with the above article, payments, in this case, can be made in full and the employer is not threatened with sanctions for violation of labor legislation. If you equate cryptocurrency payments to a non-monetary form of payment, then the employer has the right to pay in this way no more than 20% of the employee’s total salary per month. However, there is currently a variety of cryptocurrencies, some of which are notable for the instability and difficulty of selling by ordinary users. A wide range of cryptocurrencies at the same time can be both a plus and a minus in the issue of their use as a form of salary. The employer and employee can choose the most convenient currency for them to transfer funds. But such a variety can and can significantly interfere with the development of the institution of cryptocurrency payroll.

It should be noted that in many countries, judicial practice recognizes cryptocurrencies as property.

The largest online resources specializing in the purchase and sale of electronic means of payment, there are about 1,500 types of various cryptocurrencies. And this number will only increase over time, as large companies of completely different industries, often not even related to technology and innovation, create their own cryptocurrencies.

Also, the difficulty in paying wages will be the instability of the cryptocurrency rate. Since one of the constituent parts of wages is salary, which means a fixed wage for an employee for performing labor (official) duties of a certain complexity for a calendar month without taking into account compensation, incentive, and social benefits. Accordingly, this component of wages cannot be changed according to the norms of labor legislation. And the cryptocurrency exchange rate for a given period of time is notable for its instability.

In this case, it is necessary to specify in the employment contract with the employee the method of calculating his salary.
The first way is to fix the number of wages in a specific number of cryptocurrency units, regardless of their value. This method is unlikely and quite complicated for both employers and workers themselves, and for control and tax authorities.

A simpler way is to pay a salary in cryptocurrency with reference to a specific amount.

It is important to take into account the fact that, regardless of the concept chosen by the employer, the employee can suffer the most, since jumps in the cryptocurrency rate are possible in both cases, and it is the employee’s turnover, sale or personal use of electronic funds that will fall. The position in which the employee will be paid in electronic currency only part of the salary, and the remaining funds will be in the format of the usual money for everyone, will not be completely clear. Therefore, a potential user of cryptocurrency funds and a potential participant in their turnover can, unexpectedly for themselves and all those around them, suffer enormous losses and get rich quite unexpectedly.

The issue of using electronic money is of interest to employers in many countries. The development of regulations governing the circulation of cryptocurrency funds between an employer and an employee has begun almost around the world since the rise in the value of popular currencies.

Since April 1, 2017, the concept of “virtual currencies” has been introduced into the legislation of Japan, and cryptocurrencies have become a fully legalized means of payment. This event could not but affect the employment relationship. So, at the end of 2018, GMO Corporation planned to transfer about 5 thousand of its employees to the cryptocurrency form of payment. (Bitcoin.com “Japanese Internet Giant GMO Offers to Pay 4 700+ Employees in Bitcoin”).

https://preview.redd.it/6a3rakkd49g41.jpg?width=1229&format=pjpg&auto=webp&s=145524c16558a822495912e7cf6756d51ffd7dcd

The United States of America, as the state with the largest number of cryptocurrency users, is also actively developing relevant legislation.
US authorities have created a favorable atmosphere for the use of cryptocurrencies. This is also confirmed by studies in the field of labor relations and the labor market. According to a recent release from Bitwage, it was revealed that 10.5% of the companies surveyed currently pay employees, at least in part, in bitcoins. Across the country, about 20 thousand employees are registered in this program, who, accordingly, receive wages in cryptocurrency funds (Legal Ramifications of Paying Employees with Cryptocurrency).

https://preview.redd.it/c077826i49g41.jpg?width=986&format=pjpg&auto=webp&s=6c5cbd2ede96c15b056afab7ac9ec859eff2801f

In order to ensure that the employee and the employer do not hide from taxation when paying wages with cryptocurrencies, some states create entire committees within financial ministries whose main function is to control cash flows and record the tax base of a particular subject of labor relations. One of these countries is Singapore, which in recent years has become the economic center of the world since most projects designed for worldwide use are tested here. Already in 2014, the Monetary Authority of Singapore announced the beginning of the process of legislative regulation of all operations with cryptocurrencies, including those related to labor relations. This body will regulate the process of payment of wages to the employee in this format all stages of the currency movement: from entering the employer company to paying the employee for his own purchases and services, thereby ensuring the security of cryptocurrency transactions and in every possible way helping employees quickly and safely enter the new payment system (Putting Singapore’s Dollar On Blockchain May Prove It’s The Most Crypto-Friendly Place On Earth).

https://preview.redd.it/8vzcundl49g41.jpg?width=801&format=pjpg&auto=webp&s=d12e2410fe85254e9aa26e848f2a3e919fdceaf2

In order for cryptocurrencies to become one of the forms of remuneration, it is necessary first of all to solve the main problems that impede the full use of electronic means in labor relations.

The paramount task is the normative consolidation of all aspects related to the circulation of such financial resources.
The assignment of electronic means of payment to cash will greatly simplify the mechanism for regulating these relations, as this will avoid introducing a large number of changes to existing legislation.

It is logical to solve the problem of taxation after legislative determination and consolidation, using Singaporean experience, creating a specially authorized committee in the Federal Tax Services. This will significantly save energy and money while deciding the whole layer in the use of cryptocurrency funds.

The existing mechanisms for accounting for taxable items and calculating the amount of legally established taxes and fees will not differ much from the existing ones. Therefore, from this side, the introduction of cryptocurrencies will not greatly complicate or change the current system.

The problem of a large number of different cryptocurrencies and their changing value can be solved in several ways. This may be the choice of one cryptocurrency, not necessarily Bitcoin, from among the existing ones. This decision will not create potential difficulties since a well-chosen currency by specialists at the time of consolidation will already be functioning for a long time, showing the real rate without sharp jumps, which will protect workers from depreciation situations and the inability to use their funds.

As for other blockchain technologies, it seems that the principles of smart contracts can be applied to the work of remote workers.

There is currently no established definition of smart contracts. In the most general form, you can define a smart contract as a contract with the automatic fulfillment of certain conditions. This automatic system will simplify the control of the employer over the employee.

In the case of a remote employee, it is the control by the employer that will be, on the one hand, a motivating factor in compliance with labor discipline, and on the other hand, a way to minimize the risks of the employer when bringing the remote employee to disciplinary liability. The remoteness of the employee from the employer should not become an insurmountable obstacle to the implementation of the above control.

Smart contracts will facilitate the interaction of the employee and the employer, simplify the control mechanism.

Thus, competent legislative consolidation and integration of blockchain technologies into the existing financial system are not an insoluble issue. If you take this seriously, the problem can be solved in a fairly short time, since examples of successful incorporation of electronic currencies into the economic scheme in some countries are very common.

Therefore, the question of the cryptocurrency form of remuneration is becoming very real and having good prospects in the near future, as well as the use of other blockchain technologies in the world of work.

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