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New Survey Shows Crypto Growth: 31% Wouldn’t Mind Some Wages in Bitcoin

Yet another Google survey is out and this one, commissioned by British Tech Company Sage, has revealed that many employees wouldn’t object to having part of their salary paid in Bitcoin.

In fact, as many as 31% would be happy to have at least some portion of their earnings paid in the flagship cryptocurrency according to the figures. Of the 1,000 respondents, 37% said that they would go for between 1-20% in digital pay and the rest in fiat.

This latest survey conducted by Sage was meant to monitor responses to employees current pay trends and preferences. Sage develops solutions for business and pays salaries as an outsourced paymaster through Sage Pay. The suggestion is that the survey although conducted by a UK company wasn’t limited to a particular region or country due to the way it was administered online.

Darren Francis, who commissioned the survey commented: “It’s interesting that more people were leaning towards the “all-in” option; having their sole or dominant income paid to them in cryptocurrency.”

As Francis pointed out the majority took the “most or all” scenario rather the lower percentage of earnings in crypto by 15% to 11%, the latter saying that they would like just between 61-80% of their salary in Bitcoin or similar.

Another factor turned up by the survey’s questions was that women were far less likely to go for the crypto pay option than men, perhaps reflecting their interest in the subject as a whole. However, as reported by Bitcoin News, recent figures show that the gender disparity has significantly changed of late with far more women adopting some kind of cryptocurrency as part of an investment portfolio in 2018 than previously.

The survey revealed that 25% of women were open to the idea of some part of their salary being paid in cryptocurrency, whereas 75% of males would subscribe to the new pay scheme.

In terms of an age demographic, there was little difference in acceptance of crypto pay between the lower age groupings such as 25-34 and 35 -44, but beyond that, and edging towards retirement, the figures reportedly dropped off, with far last interest in this form of payment being shown by older employees.

Sage used Google Surveys in order to collect the data which relies on a network of content sites including YouTube and the Readers Digest. Respondents visit the survey site and participate in exchange for content.

 

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YouTube Being Sued for BitConnect Negligence

BitConnect was a high-yield cryptocurrency investment ponzi scheme that collapsed in January 2018, and now YouTube is being sued for alleged negligence in propagating BitConnect content. Apparently, YouTube published over 70,000 hours of unedited BitConnect connect, generating 58 million views, possibly resulting in hundreds of thousands of victims.

The founder of the Silver Miller law firm which has launched the class action Bitconnect lawsuit, David Silver, says, “The platform allowed BitConnect to reach hundreds of thousands of potential investors, all while YouTube was aware that BitConnect was a scam. As the old saying goes: Sometimes when you lie down with dogs, you get fleas.”

BitConnect promised daily interest earnings for cryptocurrency invested on their site, up to 40% per month, with an additional interest rate of 0.25% daily for people that invested over USD 10,000. BitConnect had a native cryptocurrency, BCC, that had a market cap of USD 2.5 billion at the peak of the scheme.

BitConnect announced that it was closing up due to negative reports by the media and said it would repay all loans with BCC. They did this maliciously, since they waited to repay loans until after the announcement. In January 2018 BCC lost over 99% of its value, as victims scrambled to sell their coins, and BitConnect was able to repay all loans for a miniscule fraction of the real loan value. BCC is effectively dead at this point with daily trading volume of USD 100. This might be the most catastrophic and complete collapse of a cryptocurrency in history, having gone from a market cap of USD 2.5 billion to virtual death in less than six months.

The BitConnect scandal may be part of the reason that YouTube’s parent company, Google, banned all cryptocurrency advertisements. However, this ban does not affect content being posted on YouTube.

It remains up to the court to decide if YouTube is actually responsible for people being victimized by content in videos posted on their platform. A tremendous amount of videos are posted on YouTube every day, and it would be quite difficult for YouTube to look through all the videos and delete ones related to cryptocurrency scams. Additionally, it can be argued that people need to be responsible for their own investment decisions.

 

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