The Mud was Bittersweet – Fundraiser for The Union Beach Disaster Relief Fund Organized by The Martial Arts Arena

A group of local residents consisting of men, women, college & high school students from all walks of life & fitness levels raised $ 6000 for The Union Beach Disaster Relief Fund. [PR.com] PR.com Press Releases: Sports: Martial Arts News

San Jose, California (PRWEB) December 03, 2013

Bitcoins popularity continues to soar as Swedish design company LELO is set to launch one of the worlds most unique employee incentive schemes yet. Fueled by the decision to accept Bitcoin as payment for purchases of items from their LUXE range of 24-karat gold sex toys via LELO.com, LELO will offer its 500 employees the chance to receive payments and potential bonuses in the peer-to-peer digital currency, all from January 1 onwards.

LELO CEO Miroslav Slavic has described the innovative scheme as Bitcoins Return to the Gold Standard, since to build the companys own Bitcoin reserves, LELO will make its LUXE range of Pleasure Objects available for purchase. The flagship 24-karat gold LELO Inez that currently retails at 15,000 US dollars is set to be priced at 26 BTC a piece.

LELO Board executives have also drafted a plan to offer every employee the option of earning up to 5% of their already-taxed net salary via the virtual currency, making LELO the first ever global company to offer its employees a new Bitcoin incentive scheme.

What makes the scheme unique is that LELOs Bitcoin reserves will be controlled centrally. The exchange rate offered to employees will be fixed on the average value of the Bitcoin over the previous month period. However, if the company succeeds at selling more LUXE items over that period, and accrues more Bitcoins in its collective virtual wallet, the employee-exchange rate will be increased accordingly.

To my knowledge, this is the first ever scheme of its kind that seeks to centralize the growth potential of the Bitcoin within a company, spreading any risk and also using this to encourage performance. Our team-members are all early-adopters by nature, and this kind of plan aligns well with LELOs company values in encouraging open development, competition and innovation, LELO CEO Miroslav Slavic said.

LELOs move follows hot on the heels of Richard Bransons announcement last week that Virgin Galactic space-flights are available to purchase using the virtual currency. LELO Pleasure Objects are already widely sold in Bitcoin through a number of online retailers, where their popularity can also be attributed to the enhanced privacy that Bitcoin purchases provide.

We are big believers in the future of Bitcoin, and given LELO is already widely sold in this currency, we wanted to ensure our customers are able to purchase directly from LELO if they so wish. Were test-running the scheme from January onwards with our customers and employees and will see how they respond.

Retailers interested in stocking LELO products are invited to contact sales(at)lelo(dot)com. Media inquiries can be directed to pr(at)lelo(dot)com.