Lol! Op is quite optimistic it seems! If Fifa ever plans 59 use bitcoin to pay their prize money, you will see that bitcoin is accepted everywhere. It's a global stage so the kind of visibility it can bring to anything, is enormous! That's why you will see that big brands pay top money to advertise on this global event.
So if bitcoin is ever used in such a global stage, it will push it's adoption rate by few hundred percent. It's very difficult to forecast the kind of attention bitcoin will get.
Topic: What awareness would this bring to bitcoin (Read 275 times)
I don't think that this will bring any value in Bitcoin because the money paying to them in dollars does not concern bitcoin accept that they invest in Bitcoin so if they should invest in Bitcoin it will trigger the price of Bitcoin to increase so I believe it is only afraid that this will help with an acceleration in life and the life of the owners or investors in cryptocurrency generally
The players and winners of the money should first be considered and to check if they are informed of the usage and importance
But this will be hard to implement since the government are not a big fan of Bitcoin bad they don't want to see them thrive.
It would be a nice one of finally done but Cryptocurrencies are hundred unstabel which would affect them.
Not even in the next four years would these be considered.
But this will be hard to implement since the government are not a big fan of Bitcoin bad they don't want to see them thrive.
It would be a nice one of finally done but Cryptocurrencies are hundred unstabel which would affect them.
Not even in the next four years would these be considered.
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.
Adapting a new pattern of payment is not as easy as it seems, it's definitely going to be entirely different and complex as first but would become more simpler with time. Bitcoin is not stable and it's very fluctuateable due to the volatility of the market. Getting paid with Bitcoin is not advisable as a good idea, rather it's very crucial to expect some good and bad results from bitcoin and not all the players know how bitcoin operates. It's very understandable to use the usual mode of payment rather than getting involved of what one get no single idea about. 
Well, it would be a nice idea to pay them bitcoin but unfortunately --bitcoin is not a centralized currency.
It is a global sport and expected that it is paid with dollars, not in bitcoin but I think there is a possibility that players will buy bitcoin on the prize they win. There are a lot of people who watch this FIFA event and I think it becomes awareness if there is an ad for bitcoin there, like Nike, Adidas, Pepsi, McDo and etc. But the problem is who is going to sponsor the bitcoin name appearing during those marketing ads.
Also, not every people are interested with this technology and we cannot force them to do so. But that's not a period on the chances that those people could still be hooked up. We may try our 'shot' as this industry continues to emerge and be known by more people. At this moment, the idea of OP is far from reality. World cup speaks in general and that covers both countries who are prohibiting and allowing the use of ceyptocurrency. But those participants who are interested may convert a portion of their prize to cryptocurrency IF they are interested. Some people would prefer other type of investments which are less risky. But I'm okay with such tournaments paying fiat because it simply gives freedom to the player whether to invest or not. It is a global sport and expected that it is paid with dollars, not in bitcoin but I think there is a possibility that players will buy bitcoin on the prize they win. There are a lot of people who watch this FIFA event and I think it becomes awareness if there is an ad for bitcoin there, like Nike, Adidas, Pepsi, McDo and etc. But the problem is who is going to sponsor the bitcoin name appearing during those marketing ads.
Well, it would be a nice idea to pay them bitcoin but unfortunately --bitcoin is not a centralized currency.
It is a global sport and expected that it is paid with dollars, not in bitcoin but I think there is a possibility that players will buy bitcoin on the prize they win. There are a lot of people who watch this FIFA event and I think it becomes awareness if there is an ad for bitcoin there, like Nike, Adidas, Pepsi, McDo and etc. But the problem is who is going to sponsor the bitcoin name appearing during those marketing ads.
It is a global sport and expected that it is paid with dollars, not in bitcoin but I think there is a possibility that players will buy bitcoin on the prize they win. There are a lot of people who watch this FIFA event and I think it becomes awareness if there is an ad for bitcoin there, like Nike, Adidas, Pepsi, McDo and etc. But the problem is who is going to sponsor the bitcoin name appearing during those marketing ads.
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.
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
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
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. 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?
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.
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?
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
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. 
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.
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.
[/quote]
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.
~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.
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.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.
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.
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.
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.Jump to: