Virtual Currencies

Plebs

My mate who works in a large London bank gets some of his bonus paid in department store vouchers.

It's not just £20 or £50 we're talking here: it's like £500 to £1,000.

Surely you should be paid in an official currency? And surely virtual currencies ought to be regulated? We all know what happens when you let ursurers manipulate the monetary system.

Then there's stuff like Farmville credits, Half-Life "property" and other meaningless virtual drivel that has no backing whatsoever: just a couple of microchips made out of sand flipping ones and zeros all day.

Maybe one day, you'll be able to buy and sell boards.ie stars, stripes, avatars, etc.

If a virtual currency of scale ever takes off, there'll need to be some sort of intervention.

Mr. Rager

ahem.. don't forget monopoly money

alwaysadub

Our Christmas bonus in my last job was always Dunnes Stores vouchers. Plus they were got on the cheap as well,they never paid full whack for them.

Thought a bank might give you money as a bonus alright though..

Superbus

You do have to buy boards.ie stars and avatars, don't you? Subscribers get 4 red stars and a custom avatar?

Overheal

Plebs wrote: »

My mate who works in a large London bank gets some of his bonus paid in department store vouchers.

It's not just £20 or £50 we're talking here: it's like £500 to £1,000.

Surely you should be paid in an official currency?

Theres a whole hidden economy there. The bank cuts the department stores a good rate; in turn, it gives the bank vouchers that it can give to employees as a bonus. Somewhere they meet in the middle, where their regular Profit Margin is. Since you're redeeming for instand 1000 pound of merch, but the store might only have a cost of 600 on it. So its saved about 400 by offering it to the bank, but then there too the bank as given them a discount.

tl;dr version is its a load of bollocks but yet it improves business relations.

FearDark

Have you not heard of Internet Monies OP? I got 7% of one Internet Monies just now for this post, I get a cheque at the end of every month with usually between €15-€20.

strokemyclover

Plebs wrote: »

Maybe one day, you'll be able to buy and sell boards.ie stars, stripes, avatars, etc.

You should visit ThanksForGold.com

[Annoying Beat]
We buy any thanks.com
We buy any thanks.com
Any make any model from 50 quid to a hundred grand
We buy any thanks.com
[/Annoying Beat]

NoHornJan

Bring back the Molly Maguires...

Plebs

Overheal wrote: »

Theres a whole hidden economy there. The bank cuts the department stores a good rate; in turn, it gives the bank vouchers that it can give to employees as a bonus. Somewhere they meet in the middle, where their regular Profit Margin is. Since you're redeeming for instand 1000 pound of merch, but the store might only have a cost of 600 on it. So its saved about 400 by offering it to the bank, but then there too the bank as given them a discount.

tl;dr version is its a load of bollocks but yet it improves business relations.

No doubt there's plenty of tax gymnastics going on behind the scenes too.

Gray

One of the main reasons behind this is the employee dose not have to pay Tax/NI on the vouchers.

2ygb4cmqetsjhx

You do realise that real money is ink on paper? Virtual money is electrons flowing through copper. Both are worth nothing in reality. Money is only good to me because you think It's good to you

aidan_walsh

FearDark wrote: »

Have you not heard of Internet Monies OP? I got 7% of one Internet Monies just now for this post, I get a cheque at the end of every month with usually between €15-€20.

I've been able to use my spare time at home earning up to IM50,000 a month. Click here to find out how.

digme

Plebs wrote: »

My mate who works in a large London bank gets some of his bonus paid in department store vouchers.

It's not just £20 or £50 we're talking here: it's like £500 to £1,000.

Surely you should be paid in an official currency? And surely virtual currencies ought to be regulated? We all know what happens when you let ursurers manipulate the monetary system.

Then there's stuff like Farmville credits, Half-Life "property" and other meaningless virtual drivel that has no backing whatsoever: just a couple of microchips made out of sand flipping ones and zeros all day.

Maybe one day, you'll be able to buy and sell boards.ie stars, stripes, avatars, etc.

If a virtual currency of scale ever takes off, there'll need to be some sort of intervention.

virtual currencies are going to explode really soon, look at zinga dollars etc this is going to be the future.
max kesier is always on about it.

Tilt Gone

As pat of our bonus scheme we get a 53rd week at christmas time. 250 euro of which we can collect in all in one vouchers. It's a clever way of cutting back on what the tax man takes during the christmas month. I think it's it's a great idea and always use it towards christmas presents.

Plebs

Tilt Gone wrote: »

As pat of our bonus scheme we get a 53rd week at christmas time. 250 euro of which we can collect in all in one vouchers. It's a clever way of cutting back on what the tax man takes during the christmas month. I think it's it's a great idea and always use it towards christmas presents.

What about BIK?

Tilt Gone

Plebs wrote: »

What about BIK?

Benifits in kind??? What about it. The 250 in vouchers is taken from our gross before any tax is taken from our wage.

Jesus Wept

I switched all my money into Amero and I have no regrets.