What awareness would this bring to bitcoin

[Alpha Marine]

According to “All Football”  every team that participates in this year's FIFA world cup gets nine million dollars with the winner of the tournament going home with forty two million dollars. Here is a breakdown of the prize money in US dollars
Group stage - 9 million
Round of !6 - 13 million
Quarter final - 17 million
Fourth place - 25 million
Third place - 27 million
Second place - 30 million
Winner - 42 million.

When I looked at these numbers it got me thinking about how much awareness it would create for bitcoin if this money was paid in bitcoin to these teams. Would we ever live in that kind of world?

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[Z-tight]

The money is paid in usd (world's reserve currency), and it will continue to be paid in usd, probably until another fiat currency becomes bigger and stronger than the usd. But i don't think it is ever possible that the prize money for a global tournament like the the world cup can be paid in BTC. This question is similar to the popular one of 'if BTC will replace fiat', and the answer remains unchanged, BTC is a second option to fiat currency, it is not going to replace it, and the usd for now will remain the world's reserve currency and will serve purposes such as this.

[tabas]

It will be a lot of attention but there's no need for that. There have been sponsorships that are doing their job as exchanges and other things related to cryptocurrencies.
I doubt it that the FIFA will do something like this but hoping that they won't close the door that they may do this soon and as well as keep on accepting sponsorships that have been part of the crypto industry with their services, although, they're centralized exchanges but we're just extracting that bitcoin is included into those ads.

[kryptqnick]

There are some collaborations between football and cryptos through crypto betting website sponsorships. The teams can be pretty high-level there too, but I haven't seen it on the level of national teams, which I guess makes sense.
In terms of currency, it sounds like a good idea to at least give a choice of currencies to teams, given that the USD will be a foreign currency to almost all of them anyway.
And while it could be good publicity and dozens of millions of dollars worth of BTC movement, it's not significant enough to make direct impact on the price. However, if publicized widely, it could boost Bitcoin popularity temporarily and lead to FOMO. Unfortunately, that's far from happening.

[darkangel11]

It won't be paid in BTC. Do you know why?

It's because they can print as much USD and other fiat currencies as they want and they can't print BTC and I'm sure they're not going to mine it just to be able to pay these prizes.

What would you choose if you knew both options were going to be accepted?
Make some money for free with no risk or register at a private exchange to buy a decentralized currency that you can't control and risk sending it to a wrong address or mishandling it?

[Vaskiy]

Near or in the future we won't be able experience change of the prize money format on the FIFA World Cup. As an user mentioned it'll be provided in terms of the World reserve currency. Maybe in some situation if USD loss it's importance we might experience the prize money to be paid in bitcoin. Awareness about bitcoin happens through the advertisements being broadcasted during the match time.

[Z-tight]

It's because they can print as much USD and other fiat currencies as they want and they can't print BTC and I'm sure they're not going to mine it just to be able to pay these prizes.

Fifa isn't the governement, and they surely do not print usd, fifa as a football governing body make their money from selling television rights, advert and sponsorship agreements, as well as selling tickets for games, and from all these they give out prize money to teams that are represented in the tournament, it has nothing to do with them being privileged to print usd, which they surely do not.

In terms of currency, it sounds like a good idea to at least give a choice of currencies to teams, given that the USD will be a foreign currency to almost all of them anyway.

The usd will be a foreign currency to most of the participating countries, but is a much better and stronger currency that most of their local currecies, so even if given the option to choose, almost all of them will choose the usd and not their local currency, and definitely not BTC.

[AmoreJaz]

It's because they can print as much USD and other fiat currencies as they want and they can't print BTC and I'm sure they're not going to mine it just to be able to pay these prizes.

Fifa isn't the governement, and they surely do not print usd, fifa as a football governing body make their money from selling television rights, advert and sponsorship agreements, as well as selling tickets for games, and from all these they give out prize money to teams that are represented in the tournament, it has nothing to do with them being privileged to print usd, which they surely do not.

In terms of currency, it sounds like a good idea to at least give a choice of currencies to teams, given that the USD will be a foreign currency to almost all of them anyway.

The usd will be a foreign currency to most of the participating countries, but is a much better and stronger currency that most of their local currecies, so even if given the option to choose, almost all of them will choose the usd and not their local currency, and definitely not BTC.

up until now, people still prefer the USD as it is like BTC among those thousand of alts. but at the moment, i don't think these people will opt for BTC. they may accept a portion of it in the future but still USD will still be their first choice. and yes, definitely, they don't print USD money.

[uneng]

When I looked at these numbers it got me thinking about how much awareness it would create for bitcoin if this money was paid in bitcoin to these teams. Would we ever live in that kind of world?

Why would this money be paid by FIFA in bitcoins? And even if it happened, those teams would immediately cashout the received bitcoins into fiat, so they could avoid the volatility of the currently bearish market which has potential to depreciate the prizes more yet on short term. Also, so much money (163$ million) dropped in bitcoin market at once could lead to panic selling and more dumps in price.

At first I thought you were going to ask what awareness a FIFA sponsor like Crypto.com can bring to bitcoin.

[BitDane]

When I looked at these numbers it got me thinking about how much awareness it would create for bitcoin if this money was paid in bitcoin to these teams. Would we ever live in that kind of world?

Football is a very popular sports, so having football rewards paid in Bitcoin will greatly bring awareness to most people especially fans of Football. It will also bring demands to the market because the Football rewarding body will have to buy BTC in order to execute the plan of paying rewards in BTC.

But as much as that is an interesting stuff, I doubt Football will change its way and pay the reward in BTC.  Paying in USD is much more easier since they don't have to go to the marketplace and buy BTC.  And thinking that teams converting back their received Bitcoin in USD right after they received it makes the idea a joke.

[Rikafip]

When I looked at these numbers it got me thinking about how much awareness it would create for bitcoin if this money was paid in bitcoin to these teams. Would we ever live in that kind of world?

It would be of course great, but you what to have to ask yourself is why would FIFA pay awards in bitcoin? That move wouldn't make any sense at all, unless bitcoin completely takes over fiat and chances for that happening are realistically slim to none. I can imagine crypto related World Cup sponsor giving reward to someone in bitcoin though, for example to a winner of Golden Boot. That would be a nice bitcoin promotion.

By the way I think that this post should be posted in the games and Gambling section.

Just because OP mentioned World Cup it doesn't mean that topic should automatically go to the gambling section.

[Smartvirus]

~snip~

In our today's sporting lines, we had some athletes require that all or a certain percent of there salaries be paid in bitcoin. Now that news did travel far and surely provided some publicity for cryptocurrency along with some investors. We've seen celebrities have to invest in cryptos and it also came with some positive results, one that portrays bitcoin to come with sme good.

 In our today life's, most of those whom are yet to invest in cryptos do so because they don't believe, because they are scared of loses, what the government have told them or because they wish to see some reputable individual or organisation to be involved with it, take some investment on its page and FIFA would do so much for the crypto industry if they do as proposed in OP.

Most sponsorship and advertisements as we have now is yielding some good result for the companies in football. This would do great for cryptocurrencies too.

[Alpha Marine]

I can imagine crypto related World Cup sponsor giving reward to someone in bitcoin though, for example to a winner of Golden Boot. That would be a nice bitcoin promotion.
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Yea, this would be wonderful.
It would also be nice if these crypto sponsors pay people they sign deals with in Bitcoin (if they don't already do so already). Binance could pay Ronaldo in Bitcoin and Crypto.com could pay Lebron James in btc too.

I don't know how possible this is or if the players would even agree to it but it would create recognition to bitcoin because these players have large amount of followers and would create more trust in bitcoin if people know they are into it as well.

[Frankolala]

We are talking about payment to the countries who took part in the world cup competition, a general accepted and strong currency will be used so that it can be valued and accepted by the countries for easy exchange. The USD is the only currency that can be used for the payment.

Bitcoin can not be used because of the critism about bitcoin by the government of some countries, this makes bitcoin not generally accepted by the world yet. Another reason is that the countries involved in the world cup government will not accept bitcoin payment because they will also generate some profits from this fund sent to them when kept in the bank. Using bitcoin will have increased in its awareness and I know that FIFA might use bitcoin soon if the fiat currency loses its value.

[imamusma]

When I looked at these numbers it got me thinking about how much awareness it would create for bitcoin if this money was paid in bitcoin to these teams. Would we ever live in that kind of world?

The world is not like that now, but some things have been paid for in bitcoin. In sports, I've heard of player salaries and contracts being paid in crypto but that's only one to a few players. I can't get the source, but I've read the news around the forum.

The world is not that aware of bitcoin yet and for a large organization like FIFA it is difficult to expect it to adopt bitcoin as means of payment. Even if some teams were to adopt this, then it shouldn't have anything to do with FIFA which is a large organisation. In a future we all don't know yet, a new standard could be created and bitcoin adopted as a means of payment. But for now I can't imagine it.

Binance could pay Ronaldo in Bitcoin

Binance tends to use BUSD instead of bitcoin as a means of payment. The reason is clear because binance has its own currency even though bitcoin is recognized by them.

[Doan9269]

According to “All Football”  every team that participates in this year's FIFA world cup gets nine million dollars with the winner of the tournament going home with forty two million dollars. Here is a breakdown of the prize money in US dollars
Group stage - 9 million
Round of !6 - 13 million
Quarter final - 17 million
Fourth place - 25 million
Third place - 27 million
Second place - 30 million
Winner - 42 million.

When I looked at these numbers it got me thinking about how much awareness it would create for bitcoin if this money was paid in bitcoin to these teams. Would we ever live in that kind of world?

OP this thread is not on bitcoin discussion as it more specializes on football which is a discussion that has to be made onbthe gambling section just as others have advised, the awareness that this will make is about bringing the countries all over the world into unity and create a friendly sport collaboration amongst nations regardless of race, FIFA world cup which is one of the best most anticipated events

[Lucius]

When I looked at these numbers it got me thinking about how much awareness it would create for bitcoin if this money was paid in bitcoin to these teams. Would we ever live in that kind of world?

No doubt it would be a good advertisement for Bitcoin, but it wouldn't make as much of a difference as you might think. In the end, every awarded country would sell that Bitcoin (very likely) because it would have to pay the rewards to the players and all other costs, because you cannot force anyone on an individual level to accept Bitcoin as a means of payment.

Just for information, the total prize fund this year is about $1 billion, which is almost a 30% increase compared to the last world championship.

[Zlantann]

According to “All Football”  every team that participates in this year's FIFA world cup gets nine million dollars with the winner of the tournament going home with forty two million dollars. Here is a breakdown of the prize money in US dollars
Group stage - 9 million
Round of !6 - 13 million
Quarter final - 17 million
Fourth place - 25 million
Third place - 27 million
Second place - 30 million
Winner - 42 million.

When I looked at these numbers it got me thinking about how much awareness it would create for bitcoin if this money was paid in bitcoin to these teams. Would we ever live in that kind of world?

Many people would know Bitcoin if this ever happens.Making Bitcoin the currency of the prize money can promote Bitcoin usage because FIFA is a well-known and influential international organization which would attract more people to the currency. It could also be seen as FIFA's endorsement of Bitcoin. Many exchanges pay millions of dollars just to have an advertisement slot in well-known and prestigious competitions like the world cup. The prize money worth of one billion dollars and Bitcoin awareness might impact on the price of Bitcoin. 

[Ojima-ojo]

Note: FIFA is a global football body, which means it is centralized and at that does not have any connection with Bitcoin or it adoption, development, and acceptance, Bitcoin is still far from becoima global currency like US dollar 💸.

The reserve used to pay prizes for Fifa is generated through fees and other taxes from countries, that have a strong stance against Bitcoin and will never approve of the use of a decentralized currency for its world cup winners, but if countries like El Salvador already approved bitcoin as a legal currency could arrange a local footballing event and prize paid in BTC that could have some positive influence on bitcoin within the country

[Accardo]

If cryptocurrency will be used that will be USDT not bitcoin. Most of these players and managers don't talk bitcoin, football is their language. So, they've got lots of reasons not to accept a currency that won't be stable. Assuming they want to save the money for some times, and bitcoin drops in price the money won't be enough to settle bills in future. But, if that happens like you speculated it'll bring forth a strong awareness that will unlike other awareness drop the price of bitcoin. As the bitcoins will be changed into cash immediately.