Friday, February 21, 2020

Swiss Publishing House To Pay Wages In Bitcoin From Hence

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Grace Joseph
Freelance Writer, Blogger, and Crypto Enthusiast. Studied Computer Science in University and Undergoing a Masters Degree Programme in Computer Engineering Contact@ reigngracia@gmail.com

Interesting things seem to have happened on April 1. For starters, Satoshi Nakamoto came online to say he is not Craig Wright. Justin Sun and Vitalik Buterin also became best buddies. When we thought it was the last of its kind, a local media outlet revealed that Netzmedien, a Switzerland-based publishing house will be paying its workers with Bitcoin.

Netzmedien to Pay its Workers Wages With Cryptocurrency

According to the media outlet, Netzmedien has decided to pay its workers with Bitcoin starting from April 1. This was after a majority of its staffs voted in favor of their wages being paid in cryptocurrencies instead of the Swiss franc, the country’s fiat. Netzmedien also gave them the option to choose between Bitcoin, Ethereum, Jesus Coin, and BitCoen.

Furthermore, the company’s decision went unopposed by its subsidiary in Western Switzerland. Thus, the move will allow its workers to receive these assets conveniently while also allowing them to decide if they will rather convert it to fiat or hold for its price to increment. In line with that, the publishing house also intends to convert half its assets to virtual currencies by 2022.

Jesus Coin Sparks Suspicion

While the story above sounds legit enough, the fact that Jesus Coin was also going to be accepted could’ve triggered suspicion, but it didn’t. The virtual asset has billions of supply and a lot of zeros in front of its price ($0.000006 even when Bitcoin has surged by 15% today). Its developer at some point in 2018 issued thousands of it to its Twitter followers in the form of a bounty.

What are we getting at? The story above was an expensive April fool joke that went undetected by many. As of now, some platforms are still circulating the news that
Netzmedien will be paying its workers with Bitcoin. Given that reputable cryptocurrency platforms also publicized it, it doesn’t come as a surprise. Heck! we would’ve done the same if not for an update to the news today that says the story was meant to celebrate the day.

Fake News Sparks Bitcoin’s Price Surge

Whichever is the case, assumptions have been made that the news could’ve positively impacted on Bitcoin’s price. As of today, Bitcoin has shown a remarkable performance and even traded as high as $5,000 on some cryptocurrency exchanges. Nonetheless, there’s always room for coincidence or maybe the whales are also pulling a fast one on us.

Several jokes of this nature had resonated yesterday and popular among them, is Satoshi Nakamoto posting on Bitcoin Talk that he is not Craig Wright. The story also began from a cryptocurrency website with screenshots of the Bitcoin Talk message which no one else could find on the platform.

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