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Danish hockey team starting to pay players in Bitcoin
Posted on 12/14/17 at 3:07 pm
Posted on 12/14/17 at 3:07 pm
LINK
quote:
A Danish hockey team has reached a sponsorship agreement to rename its home Bitcoin Arena and offer to pay players in the digital currency. Bitcoin Suisse, a cryptocurrency financial services company, announced the partnership Thursday with Rungsted Seier Capital, which plays in Denmark’s top league.
One player, Nikolaj Rosenthal, has already agreed to receive his compensation in Bitcoin, which apparently makes him the first professional athlete ever to be paid in digital currency:
Top Rungsted player Nikolaj Rosenthal will pioneer the switch from traditional salary payments in Danish Kroner to become the first professional sports athlete to be paid fully and exclusively in Bitcoin, paving the way for others in- and outside of the world of professional sports to do the same.
5
Posted on 12/14/17 at 3:12 pm to Mr Personality
quote:
One player, Nikolaj Rosenthal, has already agreed to receive his compensation in Bitcoin, which apparently makes him the first professional athlete ever to be paid in digital currency:
That is a really terrible idea.
Posted on 12/14/17 at 3:17 pm to GetCocky11
Not if the value keeps rising.
Posted on 12/14/17 at 3:25 pm to GetCocky11
buy high, sell low
Posted on 12/14/17 at 3:26 pm to TH03
quote:
Not if the value keeps rising.
Wonder if there are rules in place with NFL/NBA/MLB that would prevent this (I'm assuming there are), but could be a pretty cleaver way to negotiate a contract and create cap space.
Posted on 12/14/17 at 3:35 pm to TH03
quote:
Not if the value keeps rising.
And when that bubble pops......
Posted on 12/14/17 at 3:43 pm to Mr Personality
guy accepts payment from insanely volatile digital currency likely in a bubble?
makes a lot of sense.
makes a lot of sense.
Posted on 12/14/17 at 3:47 pm to Prominentwon
I would take my salary and Cash it out when it grows a certain percentage.
But my point was if it just keeps rising, it's not a dumb move.
But my point was if it just keeps rising, it's not a dumb move.
Posted on 12/14/17 at 3:51 pm to TH03
quote:
But my point was if it just keeps rising, it's not a dumb move.
That's a big if. It's gone down like 15% in the last two days. I wouldn't want my salary changing by +/-25% daily. You're retarded if you don't see the huge amount of risk in this.
Posted on 12/14/17 at 3:53 pm to Mr Personality
quote:
One player, Nikolaj Rosenthal, has already agreed to receive his compensation in Bitcoin, which apparently makes him the first professional athlete ever to be paid in digital currency:
Posted on 12/14/17 at 4:20 pm to Mingo Was His NameO
quote:
That's a big if. It's gone down like 15% in the last two days. I wouldn't want my salary changing by +/-25% daily. You're retarded if you don't see the huge amount of risk in this.
No kidding. I'm sure the salary is still negotiated in physical currency, and paid at the spot rate. But still, there could be a huge swing from the end of the pay period to pay day.
I don't see how this could even work now that I think about it
Posted on 12/14/17 at 5:16 pm to OceanMan
(no message)
This post was edited on 4/5/23 at 1:42 pm
Posted on 12/14/17 at 6:27 pm to msutiger
It's worth the risk. He has built in contract protection if Bitcoin tanks and he probably only makes like 50-75k to begin with.
Posted on 12/14/17 at 9:11 pm to Mingo Was His NameO
I literally only said it wasn’t a dumb move if the value keeps rising.
I never said it wasn’t a dumb move if the value crashes.
Those are 2 independent statements, but apparently no one is capable of rational thought.
Apparently I’m retarded for making a factual statement.
I never said it wasn’t a dumb move if the value crashes.
Those are 2 independent statements, but apparently no one is capable of rational thought.
Apparently I’m retarded for making a factual statement.
This post was edited on 12/14/17 at 9:13 pm
Posted on 12/14/17 at 9:15 pm to Prominentwon
quote:
And when that bubble pops
You just sit on it. Past history of bitcoin shows huge spikes right after the value plummets. No way I'd take my whole check in bitcoin though.
Posted on 12/14/17 at 9:16 pm to Mr Personality
So he has to exchange his bitcoin in for local currency to pay his taxes?
Posted on 12/14/17 at 9:18 pm to Black n Gold
quote:
So he has to exchange his bitcoin in for local currency to pay his taxes?
Just as easy as transferring money from one bank account to another now.
Posted on 12/14/17 at 9:19 pm to Black n Gold
quote:
So he has to exchange his bitcoin in for local currency to pay his taxes?
Unless he pays it out of his pocket, yeah.
It reminds me of the dot com bubble where executives owed more in taxes than their stock options were worth when the taxes were due.
This post was edited on 12/14/17 at 9:21 pm
Posted on 12/14/17 at 9:50 pm to TigerChief10
Like in March 2014, where it took 3 whole years to reach that price again? That's a long time to just "sit" on one's paycheck.
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