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The Internet Archive To Pay Salaries Partly In Bitcoin, Requests Donations

Posted by timothy on from the because-money-is-fungible dept.

hypnosec writes "Bitcoin is gaining popularity among mainstream sites lately and the latest to adopt the digital currency as a medium of donations and payments is the Internet Archive. Ready to accept donation in the form of Bitcoin, the Internet Archive announced that it wants to do so to pay some part of employees' salaries, if they choose to, in Bitcoin. The Archive, known for its storage of digital documents (especially the previous version of webpages), is looking to start part salary payments in Bitcoin by April 2013 if everything goes well."

4 of 181 comments (clear)

  1. Re:I'd quit by Anonymous Coward · · Score: 5, Informative

    I'm amazed at how stupid people are.

    Bitcoins can be converted to other real world currencies ya know?

    My company accepts bitcoins and this is exactly what we do.

  2. tax evasion? by Anonymous Coward · · Score: 5, Interesting

    how should this be taxed?

  3. Re:I'd quit by trytoguess · · Score: 5, Informative

    Understandable. Luckily that's not what's happening here:

    "Internet Archive announced that it wants to do so to pay some part of employees' salaries, if they choose to, in Bitcoin."

    That's a direct line from the article the summary quoted. I do admit though, it's a rather inefficient sentence if you want to get a point across clearly.

  4. Re:I'd quit by Anonymous Coward · · Score: 5, Interesting

    Um no. You can exchange them for USD or just about any other currency of your choosing.

    I've actually managed to pay ~25% of my expenses for the last two years with bitcoins, using them either directly or indirectly with a few smaller mining rigs.
    I use them directly to pay my hosting, vpn, investments in silver, and the rest is converted to USD to pay off my car. (so yeah, you can pay your meal or mortgage no problem)

    The amount of places accepting them is growing fast, with over 2000 merchants using the bitpay processor alone right now.

    I find them great to use directly when I can. Payment is almost instant. Don't have to worry about credit card data. You have direct evidence of transaction via the blockchain, so the one time I actually did have an issue with a transaction (cart failed), it was easy to show a valid transaction did indeed occur and was quickly resolved.

    But it's easy enough to convert to dollars too if you want.