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At TaiwanBitDevs meetup last night I met a restauranteur who pays his staff in Bitcoin (alongside fiat).

In the restaurant business, staffing is a huge problem. It's difficult to raise staff wages to match cost of living when inflation is affecting everything so staffing becomes a revolving door. As a business owner, he really dug down deep into the root cause of it all and like many of us, found that Bitcoin is the solution.

He believes that Bitcoin gives people hope that they'll be able to fulfill their dreams one day of raising families and owning homes.

When his staff receive Bitcoin and come to understand it's value, they defrost into their true selves. They come out of their beaten down selves from a previous life in fiat shackles. They are so much happier in their personal lives and in their work too, which is good for him as a business owner.

It was really cool to hear him talk about it. I hope this makes business owners consider paying their employees in Bitcoin. It starts with you guys.

#chefstr #foodstr #grownostr

PS. I'm definitely going to eat at his restaurant while I'm in town, so stay tuned for food pics 🤤

LibertyGal 2y ago

I probably need to tell my employees what I do. I put part of my direct deposit into Strike which autobuys BTC with 80% of the deposit (dollar cost averaging), leaving 20% with which I buy BTC when I see a dip. I also put part of my money in Fold where I earn 1% or more off (2.5% on Amazon gift card purchases) and more from spins. This keeps me investing in money that doesn't inflate away. Part can go to USD for immediate bills.

I've wanted to share with employees, but don't want to be sued if they need money back during a dip.

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Discussion

karo 2y ago

I think you might even need to go more fundamental than just telling them what do to.

They may not have the foundational understanding of what money is and how they exchange their work for value. Once they understand it, they will be less likely to be antagonistic during price drops.

The guy wrote an article about his approach and how he did it. I haven't read it myself but perhaps you can get some good info out of it.

https://jamessharman.substack.com/p/the-staff-shortage-restaurants-and

Jesse 2y ago

Yes, you need to be careful with financial advice to employees / coworkers, but I'm with you - I direct deposit part of my paycheck to Strike, and dollar cost average (DCA) by making weekly purchases. Occasionally I may 'buy the dip' when the price drops, but generally, I sit back and let DCA do the work.

I do tell my coworkers what I do, but always preface it with the your situation may be different, you need to think through the risks...

I teach people about Bitcoin and crypto as a side hustle and that is one of the areas where I always try to balance - I'm a big believer in bitcoin, but everyone needs to be responsible for themselves and what they are comfortable with.

I'm working to bring more folks to nostr as well now. Here they can learn about bitcoin and so much more - this is a great community!!!

#grownostr #bitcoin #dca #strike