in

NFL wide receiver Odell Beckham Jr. receiving ENTIRE salary in Bitcoin!

NFL wide receiver Odell Beckham Jr. receiving ENTIRE salary in Bitcoin!



View Reddit by HeythatsnotyourcakeView Source

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

28 Comments

  1. tldr; Los Angeles Rams wide receiver Odell Beckham Jr. announced on Monday that he will be paid entirely in Bitcoin on his new contract. “It’s a new era & to kick that off I’m hyped to announce that I’m taking my new salary in bitcoin thanks to @CashApp. TO ALL MY FANS out there, no matter where u r: THANK YOU! I’m giving back a total of $1M in BTC [right now] too,” he tweeted.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. If you get paid in dollars you don’t pay taxes when you spend it but if you get paid in bitcoin do you pay taxes when you convert it to dollars to spend it? If so how would they calculate it?

  3. We went through the same thing with TL

    It’s an endorsement deal with Cash App

    For all you know he’s getting this BTC and immediately converting it to cash.

    There are plenty of players that own BTC. They don’t typically tweet stuff like this out unless they’re getting paid to.

  4. Jack Mallers talks about why football players are doing this, and it’s really interesting.

    As a football player, you get a massive contract, but you sacrifice your health (mental and physical), especially with the prevalence of head traumas, etc. To use Jacks words, it’s like being paid ten million dollars to throw yourself off a building.

    What a growing number of football players care about is making sure that their wealth becomes generational and that they can afford to support their family for years to come.

    When you think about it, assuming 2% inflation, money has a half life of ~30 years. So if you spend it on partying and buying houses and cars, you realize that 5 years went by, you’re nowhere as rich as you thought you were, you aren’t as young / healthy as before, and you’re basically only qualified for entry level jobs.

    Jack didn’t really get into a lot of those details, but imagine if you’re an NFL player and you see your teammates going through this. You’ll end up playing longer than your body can really afford because the wealth you thought you had basically evaporated through inflation and taxes.

  5. You know you can just buy bitcoin with dollars, right? It makes no difference if anyone gets a salary in one currency or another. And if there are any significant fees involved, your employer is 100% just going to take it out of that salary, obviously. Same as they would charge you for all the gas and truck rental etc if you demanded your salary in bushels of apples.

  6. Ok came here because he sent me $100. I know nothing about crypto. What’s the growth like? I know $100 is nothing in crypto so what can I expect the growth to be like in the next few months since I’m getting into crypto so late?

  7. Nuanced tidbit here: He is NOT receiving his “salary in Bitcoin”, he is receiving Bitcoin for his salary in dollars.

    He is paid the amount of Bitcoin that equals the dollar value per his contract. NOT paid the amount of Bitcoin his contract stipulates his pay shall be.

    That is an important difference. In other words, he didn’t price his LABOR in Bitcoin. He priced it in dollars, and is then getting an equivalent amount of Bitcoin for those dollars each payday. That’s different from pricing his labor in Bitcoin.

  8. It’s not like most NFL players are Math or Engineering majors and/or don’t have already more money than they know what to do with.

    The day my Walmart greeter elects to receive his salary in bitcoins (os satoshis, more appropriately), then I will be quite impressed.

What do you think?

Crypto Legislation to Induct Virtual Currencies into System Supervision

Crypto Legislation to Induct Virtual Currencies into System Supervision

Odell Beckham Jr. will accept a salary for NFL in Bitcoin