Half of NFL Player’s Salary to be Paid in Bitcoin

johnarb said:
No worries, man. I do not see bitcoin as a payment asset. I see it as a digital investment asset, with a bonus feature of being able to use it as a payment method if I want to (my choice)...
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Prior to the Pandemic...

Once in awhile I would come across a restaurant, grocery store or computer store that accepted payment via Bitcoins.

Currently, some merchants do accept Bitcoins as a payment asset and one of my brothers in the past had purchased about 10k worth of computers from TigerDirect via Bitcoins although TigerDirect recently no longer accepts Bitcoins...

https://99bitcoins.com/bitcoin/who-accepts/

wrbtrader
 
wrbtrader said:
Prior to the Pandemic...

Once in awhile I would come across a restaurant, grocery store or computer store that accepted payment via Bitcoins.

Currently, some merchants do accept Bitcoins as a payment asset and one of my brothers in the past had purchased about 10k worth of computers from TigerDirect via Bitcoins although TigerDirect recently no longer accepts Bitcoins...

https://99bitcoins.com/bitcoin/who-accepts/

wrbtrader
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I purchased about a thousand $ worth of stuff at NewEgg in 2017 using bitcoin. It looks like they still accept it. https://promotions.newegg.com/nepro/16-6277/index.html

When paying in-person using bitcoin, just be aware of the info that you're disclosing to the merchant.

I used to carry 0.5 btc on a bitcoin wallet on my phone bitcoin wallet and prior to 2016, it was even higher amount and this is calculated based on $ value and at the current bitcoin price, I would not go above 0.2 btc

This is a "spending wallet" or an emergency bitcoin wallet if I lose my physical wallet or something while traveling, I could go to cheapair.com and get a hotel room, get uber, get food (online), stuff like that, it is money

But using bitcoin to pay in person at a coffee shop, at a restaurant, at a pizza place, I'd be careful. If I use it on those 3 places, the electrum wallet uses the full balance and sends the amount to pay the merchant, and the rest goes to a single change address on the wallet. I just disclosed I have over $5K in my phone wallet to all the people that have access to that bitcoin payment system on those 3 places. This money is not like credit card or debit card, this is money that if I accidentally get mugged and forced to disclose the password to, can be taken with ease with no recourse.

I don't use bitcoin to pay in-person :D

[EDIT: there is a way to obfuscate the total amount of the wallet, using advanced coin controls and breaking up the balance to multiple addresses in the wallet and spending from specific inputs that contain specific amount balance(s), but too much for the average person to figure out and be aware of]
 
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BAT31 said:
I don't see grounds for attacking him.
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Then you proceeded to list 3 very good reasons why he is a moron. :)

What if I want to get paid in gold bars? Will the NFL do that for me? Why not in Euros?

His request is ridiculous and not even a legal tender in the USA. Stock options are different because they are an incentive to stay with the company and issued by the company. Bitcoins are not.
 
Pekelo said:
Then you proceeded to list 3 very good reasons why he is a moron. :)

What if I want to get paid in gold bars? Will the NFL do that for me? Why not in Euros?

His request is ridiculous and not even a legal tender in the USA. Stock options are different because they are an incentive to stay with the company and issued by the company. Bitcoins are not.
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I didn't call the man a moron, you did...lol. Their attacks are couched in epithets. That's what I am getting at...

The motivation behind a company paying in RSUs vs Bitcoins is a factual difference that has nothing to do with my point. My point is both are forms of compensation that carry inherent risks-- both can depreciate.
 
Pekelo said:
Then you proceeded to list 3 very good reasons why he is a moron. :)

What if I want to get paid in gold bars? Will the NFL do that for me? Why not in Euros?

His request is ridiculous and not even a legal tender in the USA. Stock options are different because they are an incentive to stay with the company and issued by the company. Bitcoins are not.
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It’s between him and his employer how he gets paid. He chose Bitcoin. There is no debate on the legality of his employer’s ability to accommodate this.
 
Pekelo said:
Then you proceeded to list 3 very good reasons why he is a moron. :)

What if I want to get paid in gold bars? Will the NFL do that for me? Why not in Euros?

His request is ridiculous and not even a legal tender in the USA. Stock options are different because they are an incentive to stay with the company and issued by the company. Bitcoins are not.
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Anyone can get paid their salary in bitcoin. There are several services out there that do the paperwork, tax witholdings, etc.

https://strike.zaphq.io/

https://www.bloomberg.com/news/arti...ecomes-first-nfl-player-to-be-paid-in-bitcoin
 
All of you guys calling the player an idiot / why doesn't he do it himself / etc , etc. Are not considering the man making the ask. IF I was a football star with every two bit low life that I ever crossed paths with hitting me up for a handout I don't think I would want to be touching my money via checking account deposits. By asking for half of it to be paid in bitcoin he gets to dollar cost average into bitcoin and self check from blowing all of his money as he earns it. So in essence he is exactly the opposite of what most on here are proclaiming him to be.

Then again I could be totally wrong and maybe he wants to bet all of it against his team and throw games? :D
 
BAT31 said:
As a someone who works in the tech sector, for a Silicon Valley-headquartered company, I have to say his request is no different than receiving a portion of my in RSUs or stock options.

I don't see grounds for attacking him.

Is there some risk? Sure. Is there some flaws in his reasoning? Yes

1. The time for such requests was 10 years ago, when Bitcoin was rarely traded. Now, since everyone, and their momma, wants in the Bitcoin frenzy (crypto goldrush), I don't see much upside in Bitcoin. Yes, I know the quantity of Bitcoins is set, and, because of such, its value rivals that of precious metals. I still don't see much upside.

2. I know this is far fetched, but what if Bitcoin loses value because of competitors?

3. I don't like the idea of someone stealing my money without a goddamn trace. Further, what recourse does he have if his private key is compromised and his Bitcoins are stolen? Probably none.

I am sure there are other risks and flaws that I haven't thought of.
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BITCOIN rised another 20% since your post.
 
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