Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin

Moderator: bwgood77

User avatar
HMFFL
Global Mod
Global Mod
Posts: 43,995
And1: 4,498
Joined: Mar 10, 2004

Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin  

Post#1 » by HMFFL » Mon Apr 26, 2021 6:43 pm

Kansas City Chiefs player Sean Culkin will become the first NFL player to covert his entire salary into bitcoin using a third-party payments application. 

According to a press release shared with The Block, the entirety of Culkin's $920,000 salary will be paid in weekly USD installments and converted instantly to bitcoin via Strike by Zap, an application that enables users to make bitcoin payments using a bank account or debit card. 

“Considering my career — particularly its physical demands, and brevity – it makes the most logical sense to be paid in sound money that I believe protects its purchasing power over time,” Culkin said in a statement. “From a macro standpoint, I believe we are in the beginning stage of Bitcoin’s shift away from being extremely speculative, to a legitimate asset class viewed as a store of value.”

https://www.theblockcrypto.com/linked/102852/sean-culkin-first-nfl-player-chiefs-salary-bitcoin

Sent from my SM-N975U using RealGM mobile app
Worm Guts
Forum Mod - Timberwolves
Forum Mod - Timberwolves
Posts: 24,139
And1: 8,279
Joined: Dec 27, 2003
     

Re: Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin 

Post#2 » by Worm Guts » Tue Apr 27, 2021 12:25 pm

I've never tried to pay with bitcoin at my local grocery store, so maybe I'm wrong, but I don't think everywhere takes bitcoin. It might be easier to keep some of it as cash even if you're a complete believer in bitcoin.
yellowknifer
Analyst
Posts: 3,042
And1: 1,973
Joined: Nov 12, 2004
   

Re: Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin 

Post#3 » by yellowknifer » Tue Apr 27, 2021 10:29 pm

Bitcoin is trash technology. It can do like a few dozen transactions per second. It's only valuable because it was the first. It will be extinct soon enough. Many other coins have superior technology.
User avatar
hermes
RealGM
Posts: 86,796
And1: 22,653
Joined: Aug 27, 2007
Location: the restaurant at the end of the universe
 

Re: Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin 

Post#4 » by hermes » Wed Apr 28, 2021 1:01 am

its a store of value but a pretty volatile one, seems risky but with the way its been going up he'll probably double his pay be the end of the year
User avatar
goober
GOTB's Cancun
Posts: 12,690
And1: 5,233
Joined: Jun 09, 2014
     

Re: Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin 

Post#5 » by goober » Wed Apr 28, 2021 5:38 pm

Cryptocurrency scares me big time.
righterwriter
Lead Assistant
Posts: 5,022
And1: 4,617
Joined: Apr 30, 2013
     

Re: Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin 

Post#6 » by righterwriter » Thu Apr 29, 2021 7:01 am

yellowknifer wrote:Bitcoin is trash technology. It can do like a few dozen transactions per second. It's only valuable because it was the first. It will be extinct soon enough. Many other coins have superior technology.


Any chance you could share which coins you think will become big (and how long it will take for them to start going up)?
yellowknifer
Analyst
Posts: 3,042
And1: 1,973
Joined: Nov 12, 2004
   

Re: Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin 

Post#7 » by yellowknifer » Sat May 15, 2021 2:03 am

righterwriter wrote:
yellowknifer wrote:Bitcoin is trash technology. It can do like a few dozen transactions per second. It's only valuable because it was the first. It will be extinct soon enough. Many other coins have superior technology.


Any chance you could share which coins you think will become big (and how long it will take for them to start going up)?


Ethereum is the safest play. Honestly I have been buying as much silver as I can lately. It's probably the best play right now in the market. Staying out of debt completely. Vechain is what I hold the most of in crypto. It's an ethereum competitor that had real world use cases and is actually being used. Worth looking into but I'm not sure how I feel about it morally.
righterwriter
Lead Assistant
Posts: 5,022
And1: 4,617
Joined: Apr 30, 2013
     

Re: Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin 

Post#8 » by righterwriter » Sat May 15, 2021 10:34 am

yellowknifer wrote:
righterwriter wrote:
yellowknifer wrote:Bitcoin is trash technology. It can do like a few dozen transactions per second. It's only valuable because it was the first. It will be extinct soon enough. Many other coins have superior technology.


Any chance you could share which coins you think will become big (and how long it will take for them to start going up)?


Ethereum is the safest play. Honestly I have been buying as much silver as I can lately. It's probably the best play right now in the market. Staying out of debt completely. Vechain is what I hold the most of in crypto. It's an ethereum competitor that had real world use cases and is actually being used. Worth looking into but I'm not sure how I feel about it morally.


I was thinking about investing in crypto, but my buddy who is into investing said that a lot of it is used for nefarious purposes (money laundering, tax evasion) so he said morally he didn't want to support that. I tend to agree, unless someone convinced me otherwise.
LAKESHOW
RealGM
Posts: 14,851
And1: 3,235
Joined: Mar 14, 2002
Location: HOME OF THE 17 TIME WORLD CHAMPIONS!

Re: Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin 

Post#9 » by LAKESHOW » Tue May 25, 2021 4:27 pm

There's good and bad to regulation.
Home of the 17 Time World Champions
McCallum1
Ballboy
Posts: 1
And1: 0
Joined: Jan 12, 2021

Re: Sean Culkin of the Kansas City Chiefs becomes first NFL player to convert entire salary to bitcoin 

Post#10 » by McCallum1 » Fri Jun 11, 2021 9:41 am

I like seeing blog that understand the value of providing a quality resource for free.

YourTexasBenefits

Return to The General NFL Board