Bitcoin Forum

Kevin Lee a mixed metal fighter recently sign a contract with a Russian base Eagle fighting Champion and Lee will be getting paid in Bitcoin, Kevin Lee expressed his excitement of the part of the contract that states he will be getting paid in Bitcoin because payment in Bitcoin will not give him push back. Is also on record that the champion has been a Bitcoin holder for some years now.
The amount to be paid in BTC by Eagle FC was not disclosed but is expected to be somewhere around $280,000= 5.86 Bitcoin or more for slated fights.
Source
https://cointelegraph.com/news/getting-paid-in-btc-was-a-big-part-of-the-reason-this-mma-fighter-signed-with-eagle-fc

Well,
I know Kevin Lee, he is not noob in Bitcoin, he is pro BTC Hodler, As far I know UFC has terminated his last contract for some reason.
I've read another news where Lee said he joined with Eagle FC cause they give the payment in Bitcoin. That's really good, personally, I like this fighter cause he is so much crypto-friendly.
You really need a big heart to take the full payment in Bitcoin which might be worth more than 1 million USD, very interesting.  ::)

I was confused what I was reading at first. I was like "wth is a metal fighter?" hehe.

Illegal substance apparently. It's mentioned in the article shared in the topic.

.....

Anyone familiar with contracts explain to me what does he mean by "not give me any pushback on it". Does this mean there will be no cuts or taxes deducted from his pay?

That part of his speech also left me asking the same question what he means by not giving a cashback on bitcoin payment, maybe he thinks the bitcoin network is similar to that of PayPal that a transaction can be cashed back by the sender he may be thinking of the security of the system and how independent his funds in Bitcoin are.

Taxes would be paid once the coins get converted to fiat. But that's not what he meant with pushback, I think. He was probably trying to say that the Eagle FC organization was not causing problems and showing a negative stance towards him for wanting to receive his fees and salary in Bitcoin. He might have attempted to land a similar deal elsewhere, and ran into problems because he wanted Bitcoin.

I'm not a fan and that's why I don't know him but it seems that many know him and he's very known and a good thing swordsoffreedom has shared his thought about this and he knew him. Another popular person that's going to receive a salary contract is bitcoin.

I guess many of these professional athletes and personalities in different sports are going to do the same thing if they want to have bitcoin as payment. With their fan base, it's actually a good thing because people like Lee gives exposure to bitcoin.

Nice to see Bitcoin getting used in the MMA world. Not groundbreaking, but good to see. I do fear that fighters will start peddling NFTs, and anything else they can just to earn some money though. Well, not just fighters, but any professional sports person.

Its phrased a little weird in the article, but I don't think it has anything to do with the contract specifics, instead this is usually a phrase used when a person was expecting criticism, but the way hes worded it suggests he hasn't had any. That would be my best guess based on the context its used.

Such a statement is expected as most contracts have with it huge taxes and modes of processing the payment if you are familiar with another payment gateway then you will have come across that word change back as it can come in form of cancellations of transactions or charges e.g PayPal have such features.
Bitcoin decentralization will put him at the edge because there are no hidden charges or chargebacks once a transaction is sent on the bitcoin blockchain it can't be revised.

I don't think hes trying to say charge back here, since contracts should protect you against that, especially from recognized organisations like the UFC etc. Like I explained above, hes probably suggesting he expected some sort of push back from the fans or others orgs, but didn't.

Despite fiat being able to chargeback, there's no way on earth that a bank or payment processor like Paypal would do this if the contract has been agreed upon. I know its a little confusing, because I'm not sure why he would receive any push back, unless hes talking about joining Eagle FC instead of a more recognized brand in MMA, instead of actually fighting for Bitcoin.

Expect that more and more of them will discover the potential of NFT items or collectibles as one good source of income.
And I believe, getting taxed via crypto maybe is one reason why they want it.
The truth is, they can claim a certain amount that they received as payment and not declare some as they can send it to a different address.
But in any case, if these popular athletes are seen to use crypto in any way, their respective fans may get curious and try to check it out.

The contract should have specifics about what addresses they would receive the money at, and therefore trying to hide money via different addresses wouldn't float. Once the address has received money from the specified sender, and receiving address any money transferred out would still need to be declared as income tax. Well, I guess the type of tax declared could vary by country, but most countries would treat it as income tax.

The only push back I could see is adopting a new ish currency that tends to fluctuate which could be considered extreme by the majority of people.  It definitely won't be related to taxing since it'll all need to be declared.

My only curiosity of this is whether the contract is tied to a set Bitcoin amount or if the contract is tied to fiat, but converted at the time of completion of an event.

Is the 5.86BTC for each fight or is it for the whole contract because if that's the payment for each, that's going to be bigger than many fighters eventually. Although I would be cautious though because I feel like it's not a good idea that he receives all of his pays in bitcoin given how volatile the market is, he might be richer than other athletes and then the next he's not.

Eagle FC is owned by the greatest fighter i have seen in MMA Khabib Nurmagomedov and he already launched his own NFT and hence he is known to embrace the cryptocurrency space as he always promotes them in his social media page and it is not a big surprise that Kevin Lee is getting his payment in BTCitcoin because Khabib Nurmagomedov as the owner is open to innovation even though he has a strict moral code as a deeply religious person, which is really great. 

Oh ok, that's why his name was relegated in the top fighters and then terminated by UFC because of substance abuse. He had a promising career back then, but hey, everyone needs to food in the table for their family and earn some money so I guess he just switch to other Eagle Fighting Champion.

In any case though, why not bitcoin? there are a lot of athletes who chooses to accept bitcoin as their salary because of the hype. Maybe some of them are going to be a long term holder that's why they chooses it as mode of payment.

Eagle FC is the first venture of Khabib "The Eagle" Nurmagomedov to break into organizing and promoting mixed martial arts events in florida.

The main event is scheduled to be Kevin Lee versus Diego Sanchez in the new 165 pound weight division.

I still question whether the division should be 165 pounds or 162.5. Existing weight divisions are 155 and 170 lbs respectively. 162.5 would be the halfway point between the two. For whatever reason many appear to prefer a straight 165 for MMA fighters who consider themselves too heavy to compete at 155 lbs and too light to be in the 170 lb division.

If I remember right, there are many florida athletes competing in the NFL who are paid in bitcoin. Florida itself appears to be emerging as a bitcoin and cryptocurrency friendly region. They have passed laws favorable to crypto. Eagle FC as said is hosted in florida. Perhaps its not so difficult to see how the dots are connecting here.

Also Khabib Nurmagomedov the retired UFC champion and promoter of Eagle FC is known for purchasing and owning expensive NFTs. Bitcoin and cryptocurrencies could very well have an underestimated following as far as crypto support goes.

I know it isn't the first time a sportsperson has already got paid in BTC, I believe football and basketball also we heard of players, not to mention Olympics many years ago already got sponsorship from Dogecoin :)

But I would love to get a call from my boss asking if I want to get salary all in Bitcoin or even part of it (I would go for part as I don't want to waste on trading fees to sell since I need fiat) lol

This is really nice, and it is starting to become the normal thing these days. I have seen a lot of celebrities such as athletes, actors, and so many of them that has chosen that they’ll be accepting their payments in Bitcoin, instead of the US dollars. This will also serve as an avenue to promote Bitcoin to the world, as a lot of their fans will now be interested in bitcoin seeing that the celebrities that they love are also part of this big community. And as time goes on we are also going to see a lot more celebrities or public figures who would be choosing Bitcoin over any other payment method. I myself personally has been receiving Bitcoin as part of my salary for long now, And I would say that’s one of the best decisions I’ve made.

Yes, celebrities and fighters are now receiving their payments in Bitcoin and this has given Bitcoin public attention I heard music stars like Snoopy doggy are hosting events and their ticket sold in Bitcoin.

I am not familiar with this MMA figure most probably because I am not into this sports. Now, I am glad to see that more and more famous sports and entertainment personalities decided to be paid in Bitcoin and there moves became news themselves that promoted the brand of Bitcoin most especially to their followers. Let's hope that in 2022, more stories like this can come out. Indeed, this man made a good decision being a pro-MMA and pro-Bitcoin and in this case he can be looking at BTC as an investment into his own future.