Bitcoin Forum

I know this is crazy for non-Bitcoiners, but for me, it's a possibility.

I came across an article from Bitcoinist about NFL players preferring to get paid in Bitcoin than fiat money. They're joining the revolution.

Source: https://bitcoinist.com/pay-in-bitcoin-nfl-players-join-russell-okung/

In the NBA, the Sacramento Kings are the first NBA team to accept Bitcoin payments via BitPay, and Golden State Warriors' sponsor, Rakuten, bought a crypto exchange.

I wonder when NBA players will start doing their own revolution by forcing their respective teams to pay them in Bitcoin?

I would love to see this coming, but what are your thoughts on this one guys. Any feedback will be appreciated.

Cheers!

Good to see awareness being raised these days, but anybody can recieve Bitcoin through Bitpay and other services that can convert your hard earnings into digital gold.Cheers, this feels like the year we hit the straight and narrow, I hope there's no more artificial pumps the rest if the year.

I'm hoping for this because this could lead us to massive adoption. We could have a massive adoption from this because of the payments for players of the NBA is worth a lot. Imagine paying LeBron James in bitcoin? A $156M in bitcoin would probably be BTC17,760.18 that is converted via coingecko. But that's not it, pay other stars and other players and NBA should have BTC1m in order to pay them all. But by that, the supply might ran out.

How could anyone know this without having access to insider information?
No offense, but this is such a random question, I kinda wonder why you want to speculate on something as random as this :P

Well, this is something to wait for. If NBA stars gets paid via bitcoin and they will start using or holding it this can boost the market and raise awareness. I think this will come soon, most people will have an option to get their salary payment in BTC or fiat. This will be convenient for both parties since it only takes a click and seconds for the payment to go thru and without using banks which will cut fees.

Unlikely with the current confusion regarding taxes with bicoin, though it would be possible for a player to declare he's moving all of his payments over to bitcoin which would garner about as much media attention especially if it's a well known player.

Although it is possible, we don't know when they will use bitcoin to paying their players, but I don't think that they will do that with shortly.
I think many of them still don't know bitcoin and they still prefer to receive money in fiat so then the money can be transfer to their account.
And once they accept bitcoin as the payment like the other teams, that will be a new revolution in the sports and that will spread to their fans.

Well it is good to see that those Big players are also joining crypto and wants to be part of this,
And it is good for us since they would surely be one of the reason why the price of crypto would rise soon.
So let's just hope that more and more athletes not just in BasketBall but also in other sports would be interested to join too.

It is not a realistic possibility from my perspective as the players are earning millions and i really do not think that they will be happy to settle their salary in bitcoin as it is really volatile to accept it as a salary, no one will force anyone to pay them using bitcoin or any other form of payment, but they might take smaller payments in bitcoin and not the entire salary. I support bitcoin but that does not mean that i will be happy getting my salary in bitcoin  :).

I didn't know this so I had to look it up to see if it's true...and it is: http://www.espn.com/nba/story/_/id/10303116/sacramento-kings-become-first-pro-sports-team-accept-bitcoin

That wouldn't the right to do. They should just follow what the NFL players are doing, simply voice your opinion regarding payment in BTC.

Also, big thanks to these NFL players for giving Bitcoin some free publicity, especially now during a bull run  ;D

Not necessary to create a thread a like this honestly.

You can share your thoughts at NBA discussion thread since after all, we are in a crypto forum so that's not an off-topic question there.

Back then, I remembered we had a conversation there about the same concern. Aware of Mark Cuban? One of the popular team owners in the NBA (Dallas Mavericks, my fave team). Search for Mark Cuba with a term "crypto" at your favorite search engine and you can look at some details you will find at search results. Not a direct involvement about your concern but still a crypto related thing and one step towards NBA accepting crypto.

P.S Search also for NBA team's overall salary space cap and you will realized something. :)

If this actually happened this would drive demand up and bitcoin would rise significantly.  This will ever happen though, its far too volatile for agents to let their players get paid in btc.

Mavericks aren't actually accepting crypto, they are using a 3rd party processor so they are just receiving cash.

This is good news.I am not a big basketball fan, but most of the NBA players have really high salaries and if they join the crypto world as traders and investors,it will have a huge impact for sure.

I believe it's going to be a matter of time before bitcoin acceptance as a means of salary and allowance payment to professional sport men and women  become a well sort after deal. Who doesn't like a currency that grows in value without paying tax on the growth or even have to undergo rigorous brain work of when to make a fixed deposit and liquidate same. Bitcoin is a perfect solution for all these almost low interest paid of fixed deposit in the bank.

This would bring a big impact on Bitcoin. NBA players would be huge influencers and even their supporters would surely switch and choose Bitcoin as a mode of payment.
Famous people who are purchasing or investing in crypto would also bring a massive adoption.

I first heard about a similar story happening in one of the professioanl european soccer leagues where they were going to start paying their players in bitcoin. But never followed up on it. Cant even remember the name of the team to be honest. But they were definitely being paid in a cryptocurrency for their salaries.
Didnt know it was offered to the NFL but for the NBA I imagine they are saying accepting bitcoin payments for merch at their stores and not paying they players in bitcoins. Because their salaries are astronomical and with the instability of cryptocurrency they wouldnt take a paycut on any given day.
Even a $100 difference in bitcoins price would mean a couple of $10k difference when they are getting paid in the millions. :-\

I do love basketball but it kind of makes me sick to think about how much money to make and all they do is throw a ball into a hoop while people are slaving away in factories all day and don't even have enough to sruvive.

For sure, the value of bitcoin will go high if they will be paid in btc. The supply will not ran out.  :P The value will tremendously increase though. That would be a great day for all crypto enthusiasts and holders out there. Couldn't wait to experience that day.  :D

Don't get it wrong but despite the fact that I love bitcoin, I don't want to go btc that far. It must be just 21M in overall, price will skyrocket maybe if it gets so massively used but bitcoin wasn't designed for that, at least to my mind. Small increase in demand causes rise of fees, can't imagine current bitcoin can proceed 10x transactions well with low fees + what will happen once 21m gets mined? Even risky to get it massively addapted. Btc was working wonders some years ago.

Its truly real and frankly opinion, how does this become reality if there no one can introduce to them all about what is bitcoin qnd how it is importanace.

I don't see any reason for NBA players to be paid BTC since its too inconvenient for everyone but it might happen for contract signing but I don't see bitcoin being used on everyday basis its still a long way before we go there and if we even got close to it I am sure governments will prevent it since it will destroy the core purpose of economy and economy will be obviously uncontrollable.

If they have comeup to such a decision to buy an exchange and accepts bitcoin payments via bitpay then surely we can see some teams paying their players who want to get payed in bitcoin.The teams and association of Sacramento and Golden State shows interest on cryptocurrency that may affect the market since we all know NBA is the biggest basketball sports organization in the world,and this are 2 well known teams,im pretty sure their actions will make an effect on bitcoin and help spreading news and awareness about bitcoin which will lead to surge in demand for sure.

Bitcoin is now getting to be a very attractive way to get paid even for sportsmen and soon this can be the in thing with celebrities. I hope Bitpay will do a campaign for people in the whole entertainment industry (including sports) to prefer bitcoin as the mode of payment of their professional services. This would be fun and can contribute a lot towards mainstream adoption as these people are influencers. I do welcome this development, if ever this is coming through.

This is something new but it's a big possibility, but there are players association, if some of the top players in the NBA are in cryptocurrency or investing on it, there's a big possibility that one day we'll be seeing players agreeing to accept Bitcoin, but Bitcoin being a very volatile assets there should be something in the contract that will tackle the volatility of Bitcoin.

If this could really happen then it will be great for crypto enthusiastic, but not all people want their salary in crypto shape and there's a potential of dropping in prices, so I think its better to make crypto more stable before making crypto as the salary payment

If I were a NBA player I would request to be paid in bitcoin or at least a good portion of it

It's a huge money and I don't think NBA teams or players will risk their salary for bitcoin.
It's only possible if massive adoption will happen and bitcoin will be getting stable, but for now, majority would not accept it due to volatility.

They are working to get paid, and getting paid in usd would give them security and if they are really interested in bitcoin, they can buy some to hold.
At the current situation of the market, I am still not seeing it happening soon.

I doubt that NBA players would want to be paid in bitcoins. They can still invest though by just buying on and it and hold. Those high paid athlete most of the time will buy cars, houses and later re-think of investments. So majority will still demand USD, in my opinion.

"Russell Okung’s Bitcoin epiphany and Matt Barkley’s mining revelation have started a groundswell of interest across the NFL. More and more players want teams to ‘Pay me in Bitcoin’."
I didn't know about it. An interesting article, I think it is quite possible that athletes in other sports will want to receive a salary in cryptocurrency.

Well, if you really start paying the NBA players with bitcoin, it would be the beginning of a new era. Maybe in the soccer they begin to be interested too, and thus the market would move more.

This is quite unique in my opinion and attracts NBA fans to know more about bitcoin. And maybe the NBA players are bitcoiners, yeah, there are actually many bitcoiners but it's just that we don't know their background yet.
But I hope that this will create a new bitcoiner in various fields.

Before this can happen players should be aware of the volatility of the market, and they know what they are getting into, there should be a consensus if the player's association if any players want to receive his salary with Bitcoin, and they should also be educated on how to handle their private key and how to use exchange, to trade their Bitcoin.

Of course for the whole NBA they need BTC1m/yr in order for them to supply the players with BTC as payment. The value will increase but this would affect the supply of it. Why not pay players half in BTC and half with other coins of their choice?

Before NBA can pay it's player with bitcoin. It mean cryptocurrency as a payment solution has really gone mainstream. A lot of things would have happened before sport teams can especially the NBA can adopt the use of cryptocurrencies as a mode of payment. I think we need more stores accepting bitcoin globally first, if get bitcoin into the hands of Billions globally then anything can happen. 

if the NBA really adopt Bitcoin as an official payment throughout the season, this is very rapid progress. imagine if the circulation in one season to all players every team, bitcoin circulation will be very massive. and if NBA can successfully adopts payments for official and players I think this can be copied by other leagues.

they are going to do that if they are allowed by IRS and the government, the NBA is very much compliant to the government, their contracts are subject to the agreement of both players and the management under the jurisdiction of the government, in the future maybe it's possible.

This will need to be a individual request by some of the players and then it would have to be added in their contracts. I doubt if someone would risk their full payment on something that is this volatile. We have seen a $500 spike or dip in a matter of hours and that would not be well received by many players in professional sport.  :P

If I were one of them, I would ask for a 10% payment in Bitcoin as an high risk investment, but I would do this after I received my payment in Fiat and then a financial advisor or accountant can receive orders to do this on my behalf, if I am too busy.  ;)

can paying using bitcoin be one of the best options? I see that it's not so optimal if it pays NBA players with bitcoin because bitcoin is currently not stable. maybe later if bitcoin is stable it can be done.

The same question asked as when will the company pays its employees bitcoin. I guess all of us are aware now that cryptocurrency is existing but the problem is, how people will accept it and do they willing to make it as  a real substitute for the fiat they have now?

I'm not hoping for this to become true but there is a possibility that it can happen.

I'm thinking too that these can affect the price of Bitcoin too since many will buy Bitcoin in order to give to different players as their salary. Lebron with almost $40M per year same with CP3. KD with $35M. You can see how it will affect the price of Bitcoin. It will increase a lot.

It was nice to know some National Leagues are knowledgeable about Cryptocurrency and that might be a game changer for their current state on how to pay their players. The administration of NBA may still be in the process of learning if paying thru Cryptocurrency will benefit the player because paying thru crypto is risky. NBA players have their salaries at least $1M above and what if the value of Bitcoin suddenly dropped, that would be problematic for both the player and the management. They should at least wait for some time where Cryptocurrency value is stable.

Good point, it will always be depends on how the end users will accept and adopt it, after this mass awareness regarding to this new form of digital currency it will be in the hands of those players who will accept the system, it will be a rewarding success to this industry once there's already players that will accept the deals.

Sooner or later when the entire community allow this payment system it will not that far from realization to happen.

That is a good idea for me it will works for bitcoin massive adoption will surely bitcoin could leads to demands and i hope football industry also in europe like UEFA onganization or Fifa it would be a great move.

I like the NBA a lot more now! - This is extremely amazing.

It all depends if they players are cool and open minded enough to accept them and communicate their desire to the people who can make it possible, of course they will listen to them. They are the stars after all, right?

In fact, another option can be that anyone with enough faculties to make it happen gives that idea to the players of their team to see if they like it or not, this one is not that likely to work but it could. It can definitely be used by sponsors also.

If there is an NBA team or other sports team, which is able to apply the payment of salaries to athletes with bitcoin, it is a sensational step, it indirectly introduces bitcoin to the world, especially fans of the sports team.

I really hope that this can happen soon because it is not impossible if a well-known sports club using a payment system will be adopted by other clubs and automatically it will increase public confidence in bitcoin and crypto currencies, because the value of a investment commodities are strongly influenced by investor confidence, the higher the level of trust, the higher the value of a commodity.

That will be a possibility jn the in the future when the bitcoin is become widely accepted in many sectors of society. But majority of the players might still don't know the existence of a cryptocurrency so they need to be well-informed first how to use virtual coins. Bitcoin adoption in the sporting industry might start with the fans and spread it to the different sportclubs. But not all players might accept the idea on making bitcoin as a payment, they might still prefer fiat.

It would be cool if they will start accepting bitcoin, but I'm concern on the volatility.
Once they accept it, they should know the risk because they might loss value if price will dump.

I guess a stable coin would be preferable for them, no risk at all and at the same time we can spread awareness to the world about crypto.