I mean, most jobs as of today still pay people’s wages or salaries in (actual money = hard currency), not cryptocurrency like Bitcoins for example. The thing with being paid with real money is that you don’t get all of it since a portion of it is subjected to taxes, the only way you can obtain the omitted amount is by filing tax returns where at that point you get your money back. What would it be like if jobs paid everyone in crypto (tax-free)?
Suppose employers started paying people entirely in crypto by the hour. In that case, this would be tax evasion, as everybody would get the full amount advertised in the job listing, while real money would be subject to taxes. If people are this fixated on crypto, then explain why avid Bitcoin users still receive their paycheck in hard currency at their jobs, it’s up to them if they exchange their salary for crypto or not. Cost of living isn’t priced in BTC.
In the US you’re legally required to pay in USD. That’s because during the 1900s, many people used to be paid in company currency that could only be spent at company stores. This gave the company a monopoly over their salary, allowing the company to drive up prices, drive workers into debt, and keep workers in such a poor financial state that the workers were unable to leave the company.
So you’re saying, US employers might start reintroducing company currency in the near- to mid-future?