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

ElCubano said:
No. They are paying him with less bitcoins as it goes higher.
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My point was that if you pay with an appreciating asset, you overpay as compared to just holding the asset.

You know, like the 10 000 bitcoin pizza.
 
Pekelo said:
My point was that if you pay with an appreciating asset, you overpay as compared to just holding the asset.

You know, like the 10 000 bitcoin pizza.
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I'm sure they exchange as they pay so it doesn't quite work out like the pizza example. The team isn't really taking much risk as they pay him his salary at any bitcoin price point. The risk I think is being absorbed by him. peace. But I might be wrong.
 
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What I don't get is, why would the NFL even bother? If they pay like 2000 players via banking to an established account, why would they make an exception for 1 player unless this is the future?

I bet if I asked them to pay me in CASH, they would tell me to go pound sand.
 
Pekelo said:
What I don't get is, why would the NFL even bother? If they pay like 2000 players via banking to an established account, why would they make an exception for 1 player unless this is the future?

I bet if I asked them to pay me in CASH, they would tell me to go pound sand.
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Good question.

Perhaps it's cheaper for them?
Perhaps they profit from some sort of transaction fee?
Perhaps it amounts to publicity?

Regardless, I'm sure they benefit somehow.
 
Pekelo said:
What I don't get is, why would the NFL even bother? If they pay like 2000 players via banking to an established account, why would they make an exception for 1 player unless this is the future?

I bet if I asked them to pay me in CASH, they would tell me to go pound sand.
More...

First off you’d have to get on the team lol. That’s the hard part. Happy New Year Pekeloooooooo! Rock and Roll!
 
Here is what I thing is happening. The news was:

"Carolina Panthers offensive tackle Russell Okung boasted on Tuesday that he is now receiving half of his $13 million NFL salary in Bitcoin. The arrangement involves Okung using a startup that converts payroll direct deposits into cryptocurrency and comes as Bitcoin shatters new price records."

So instead of he giving the NFL a bank account number he gave them this company account, who (probably for a small fee) converts the USD into bitcoin right away and holding it for him. The point is, the NFL isn't buying Bitcoin at all. And that makes perfect sense. It is still a USD transfer for the NFL, just not to a bank.
 
Alrighty, 2 years later, let's see how these fine gentlemen are doing, shall we?:

https://www.reddit.com/r/path%3D%252Fr%252FButtcoin%252Fcomments%252Fxaz2nj%252F

A probably true opinion:

"I think for the most part these guys took their salaries in crypto as part of promotional deals with crypto exchanges and the exchanges guaranteed reimbursement were the crypto to drop do it’s functionally not in crypto. Doesn’t make it any better though, it’s influential people capitalizing on preying on their fans, just in this scenario (like in all crypto scams) it’s the regular people that get fucked rather than the athletes"
 
I'm surprised any NFL player knows what Solana is. Trevor Lawrence must be knee deep in crypto to know what that is. He is a recent college grad so maybe he heard about it from his friends on campus.

edit:

I thought Rodgers was smarter than to take his salary in BTC, but he also doesn't believe in the Covid vaccines.
 
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