OT: Paid in Bitcoin, what's the big deal??

Russell Okung to Be 1st NFL Player Paid in Bitcoin; $6.5M of Panthers Salary
The Carolina Panthers will pay half of Russell Okung's $13 million contract for 2020 in Bitcoin, according to NFL Network's Ian Rapoport.
The two-time Pro Bowler signaled his desire in May 2019 to be compensated in the form of the popular cryptocurrency and confirmed he got his wish Tuesday
https://bleacherreport.com/articles/2924583-russell-okung-to-be-1st-nfl-player-paid-in-bitcoin-65m-of-panthers-salary?utm_source=cnn.com&utm_medium=referral&utm_campaign=editorial

Its all fine, Russ....until it isn't. Bitcoin will probably continue to rise in value in the near term, but if he were smart, he'd sell it in about 6-8 months at a 15% increase and not worry about the possible volatility. Its not regulated, obviously, so that has its plusses and minuses. 

Pro athletes are famous for their financial savvy. 

@"BarrNone55" said: Pro athletes are famous for their financial savvy. 

@"Hawkvike25" said:

@"BarrNone55" said: Pro athletes are famous for their financial savvy. 

I found it to be a pretty cool idea, but then again he could have just taken the money and bought bitcoin the second he got the cash so whatever. Bitcoin stock is on a tear right now so Russell is doing well and I hope he has a minimum amount for a sale to net a nice profit. Either way, good for him

@"BarrNone55" said: Pro athletes are famous for their financial savvy. 

OK @BarrNone55, I laughed out loud  on that one...  B) B)  

I don't trust Bitcoin. Way too volatile for me. The bold says it all, its a game and a scam for a very few to make money:

"Bitcoin’s is taking investors on another wild ride: The biggest cryptocurrency plunged more than 30% at one point Wednesday and 50% from an all-time high of $64,870 reached in April before rebounding rapidly in the afternoon. Helping drive the declines, which wiped $500 billion in market value, were recent moves by China barring use of cryptocurrencies. Another blow, according to Bloomberg, was “cryptic” statements by Elon Musk, whose earlier embrace helped fuel its rise. The Tesla CEO recently suspended its use to buy cars. As one trading executive put it, “The history of these assets has been littered with aggressive rallies and sickening selloffs.”

@"StickyBun" said: I don't trust Bitcoin. Way too volatile for me. The bold says it all, its a game and a scam for a very few to make money:

"Bitcoin’s is taking investors on another wild ride: The biggest cryptocurrency plunged more than 30% at one point Wednesday and 50% from an all-time high of $64,870 reached in April before rebounding rapidly in the afternoon. Helping drive the declines, which wiped $500 billion in market value, were recent moves by China barring use of cryptocurrencies. Another blow, according to Bloomberg, was “cryptic” statements by Elon Musk, whose earlier embrace helped fuel its rise. The Tesla CEO recently suspended its use to buy cars. As one trading executive put it, “The history of these assets has been littered with aggressive rallies and sickening selloffs.”

I get into the argument every friend gathering because I have a friend who has essentially quit working to day trade crypto.  He/they are essentially insider trading the much less known cryptos.  Eventually the .gov will catch up with him on his shenanigans. 

But back to bitcoin.  It can go to whatever it wants to but right now I still say that the .gov and banks will never allow it to be currency because there is no current way for them to get a commission/tax on it.  So to me it will always be the myspace of social media until Jp Morgan or BOA comes up with one they can manipulate and make money off of . 

@"AGRforever" said:

@"StickyBun" said: I don't trust Bitcoin. Way too volatile for me. The bold says it all, its a game and a scam for a very few to make money:

"Bitcoin’s is taking investors on another wild ride: The biggest cryptocurrency plunged more than 30% at one point Wednesday and 50% from an all-time high of $64,870 reached in April before rebounding rapidly in the afternoon. Helping drive the declines, which wiped $500 billion in market value, were recent moves by China barring use of cryptocurrencies. Another blow, according to Bloomberg, was “cryptic” statements by Elon Musk, whose earlier embrace helped fuel its rise. The Tesla CEO recently suspended its use to buy cars. As one trading executive put it, “The history of these assets has been littered with aggressive rallies and sickening selloffs.”

I get into the argument every friend gathering because I have a friend who has essentially quit working to day trade crypto.  He/they are essentially insider trading the much less known cryptos.  Eventually the .gov will catch up with him on his shenanigans. 

But back to bitcoin.  It can go to whatever it wants to but right now I still say that the .gov and banks will never allow it to be currency because there is no current way for them to get a commission/tax on it.  So to me it will always be the myspace of social media until Jp Morgan or BOA comes up with one they can manipulate and make money off of .