Despite violent price fluctuations in Bitcoin, it’s becoming increasingly common for individuals to take their salary in the digital currency.
More than 1,000 people have now registered for Coinality.com, a site launched in September that advertises jobs that pay in digital currencies. At least 700 people have submitted applications for 350 positions, which can range from Chief Compliance Officer at a bitcoin trading platform, to programmers familiar with the customisable part of the Blockchain, the master ledger for all Bitcoin transactions. More than 200 people have looked at a marketing position for an independent filmmaker that pays 3 Bitcoin for three months’ work.
Although digital currency-related job postings can be found elsewhere, and individuals active in the sphere have taken Bitcoin as salaries for at least months, this appears to be the first site exclusively devoted to both.
The site was created by Dan Roseman, a web developer based in Orange County, California who left law school in 2011 after just a year after not finding it to his liking. The site is not yet a full-time gig, and Roseman says he has no plans to monetise it, and for now will rely on donations (bitcoin, of course, is accepted).
“It’s just a service that’s free to use,” he told us by phone recently. That could change if the site blows up, he added.
In fact, most major digital currency players give their employees the option to take their salary in Bitcoin. That’s true of Bitpay, one of the world’s largest Bitcoin transaction processing sites. At The Bitcoin Foundation, an organisation that serves as an unofficial custodian for the cryptocurrency. All employees there get paid exclusively in Bitcoin, a foundation rep told us. It’s also increasingly common overseas, where the majority of Bitcoin web development has taken place. According to Martti Malmi, one of Bitcoin’s earliest programmers, executives at Bitstamp, LocalBitcoins and Finnish site Bittiraha all get paid in Bitcoin. Malmi himself said he does too.
Finally, of course there’s the Kentucky police chief we just profiled who looks to be one of the first people in his state to do so.
But all the stuff above shows the phenomenon is hardly a stunt.