Fitch gets paid in bitcoins

[UFCCagerattler 11,178]

Fitch took his purse in bitcoins for the fight last night. As far as I know thats the first time that has happened in MMA.

[12еr 127,878]

Why?

[freddievanhalen3 80,409]

Wait how do you know?

[fobar 86,533]

https://www.inverse.com/article/7104-mma-welterweight-jon-fitch-fights-for-bitcoin-embraces-techno-feudalism

[freddievanhalen3 80,409]

https://www.inverse.com/article/7104-mma-welterweight-jon-fitch-fights-for-bitcoin-embraces-techno-feudalism

Thanks brah

[poonmachine 6,720]

So good idea or bad idea?

[carnages 62,427]

Fitch is an idiot,

 

no surprise here

[PATSTER 69,419]

Fitch is an idiot,

 

no surprise here

 

Fitch is a GENIUS 

 

He figured out a way to get released from his U Fight Cheap contract 

[IrishSemtex 9,912]

Fitch is a GENIUS

 

He figured out a way to get released from his U Fight Cheap contract

Yeah, too bad it took so long for his diabolical plan to work

[freddievanhalen3 80,409]

He is probably going to spend it on the dark web

[carnages 62,427]

Fitch is a GENIUS 

 

He figured out a way to get released from his U Fight Cheap contract 

If Fitch was a GENIUS, he would have went into Pro Gaming instead of wasting his time on singleplayer games like Skyrim!

[freddievanhalen3 80,409]

If Fitch was a GENIUS, he would have went into Pro Gaming instead of wasting his time on singleplayer games like Skyrim!

lol swag

[PATSTER 69,419]

If Fitch was a GENIUS, he would have went into Pro Gaming instead of wasting his time on singleplayer games like Skyrim!

 

Robbaz made millions playing Skyrim you FOOL!

[freddievanhalen3 80,409]

Robbaz made millions playing Skyrim you FOOL!

my friend loves that guy

[UFCCagerattler 11,178]

He said he got screwed in the economic crash of 2008, which a lot of people did.

[NetshadeX 7,888]

To be honest I don't know the First thing about bitcoins. I've never seen an online option to pay for anything with them. How do bitcoins work?

[Bubba_Sparks 59,383]

To be honest I don't know the First thing about bitcoins. I've never seen an online option to pay for anything with them. How do bitcoins work?

They were a backlash against the financial system. The idea is that a finite number are "mined" - by nerds with heavy duty pc's that solve algorithms. It's meant to be an off grid type of money, but the value of them can do terrifying things that make the Zimbabwean dollar look like a stable currency.

 

You can't do much with them like invest or buy most things, just sit on them and hope for the best. They're basically the only currency where all you can do is lay and pray so it's all making sense now.

[UFCCagerattler 11,178]

Never seen a concise explanation on what they are and how they work.

 

They are digital money that everyone agrees are worth X amount per dollar. They go up and down in value like stocks so I don;t know what Fitch is thinking. 

[IrishSemtex 9,912]

I read the Wikipedia about them. And.... yeah I still don't get it.

 

When theres an option to actually buy stuff with them I'll give them another look

[Bubba_Sparks 59,383]

Never seen a concise explanation on what they are and how they work.

 

They are digital money that everyone agrees are worth X amount per dollar. They go up and down in value like stocks so I don;t know what Fitch is thinking. 

 

 

They were a backlash against the financial system. The idea is that a finite number are "mined" - by nerds with heavy duty pc's that solve algorithms. It's meant to be an off grid type of money, but the value of them can do terrifying things that make the Zimbabwean dollar look like a stable currency.

 

You can't do much with them like invest or buy most things, just sit on them and hope for the best. They're basically the only currency where all you can do is lay and pray so it's all making sense now.

What more do you want to know?  I'm the leading forum expert on Bitcoins.

[UFCCagerattler 11,178]

What are they? Do you get a bill or a physical coin?

[Bubba_Sparks 59,383]

What are they? Do you get a bill or a physical coin?

No, they're stored on computers. They are totally electronic, but don't pass through any third parties.  It takes a certain length of time to "mine" them, so there is a finite supply (unlike FIAT currency that can be printed into existence at the touch of a button).

 

I think Fitch is just trying to be a hipster.  Or dodge taxes.  If he was so in to Bitcoins, he'd have taken payment in cash and bought a load of Bitcoins with it.

[fobar 86,533]

What are they? Do you get a bill or a physical coin?

its all stored on the interwebz

[fobar 86,533]

They were a backlash against the financial system. The idea is that a finite number are "mined" - by nerds with heavy duty pc's that solve algorithms. It's meant to be an off grid type of money, but the value of them can do terrifying things that make the Zimbabwean dollar look like a stable currency.

 

You can't do much with them like invest or buy most things, just sit on them and hope for the best. They're basically the only currency where all you can do is lay and pray so it's all making sense now.

holy **** i never looked at that angle, genius

[fobar 86,533]

No, they're stored on computers. They are totally electronic, but don't pass through any third parties.  It takes a certain length of time to "mine" them, so there is a finite supply (unlike FIAT currency that can be printed into existence at the touch of a button).

 

I think Fitch is just trying to be a hipster.  Or dodge taxes.  If he was so in to Bitcoins, he'd have taken payment in cash and bought a load of Bitcoins with it.

Fitch is sponsored by Bitcoin companies and trying to make them sound more appealing as an advertisment

[Bubba_Sparks 59,383]

its all stored on the interwebz

Well not really.  They're stored on everyone's computer who owns bitcoins - a transaction record is kept of all bitcoin transactions in like a shared database. 

 

It's actually a really secure and clever thing.  It just might all become worthless over night if all the hipsters lose interest.

[UFCCagerattler 11,178]

SO they are worth whatever someone will pay for one?

[fobar 86,533]

Well not really.  They're stored on everyone's computer who owns bitcoins - a transaction record is kept of all bitcoin transactions in like a shared database. 

 

It's actually a really secure and clever thing.  It just might all become worthless over night if all the hipsters lose interest.

i was just over simplifying it for Cagetard

[UFCCagerattler 11,178]

Fitch is sponsored by Bitcoin companies and trying to make them sound more appealing as an advertisment

 

What is a bitcoin company?

[Bubba_Sparks 59,383]

SO they are worth whatever someone will pay for one?

Yes.  

But then so are most things.  Bitcoins are just more obviously so.

 

If you timed it just right, you could have made an absolute killing....if you timed it just wrong, you would be bust

 

http://www.coindesk.com/price/

[fobar 86,533]

What is a bitcoin company?

companies that mainly just deal and trade bitcoins.   

 

like the financial market has companies that trade in currency

Edited October 19, 2015 by fobar

[IrishSemtex 9,912]

companies that mainly just deal and trade bitcoins.

 

like the financial market has companies that trade in currency

If I jump up and down on mushroom monsters and punch brick blocks over my head can I get more bitcoins?

[fobar 86,533]

If I jump up and down on mushroom monsters and punch brick blocks over my head can I get more bitcoins?

those are the special bit gold coins mate, you wanna make sure you get as many as possible and never lose them

[IrishSemtex 9,912]

those are the special bit gold coins mate, you wanna make sure you get as many as possible and never lose them

Ok and with those I can buy the golden arrows and shoot the dragon lord in the right eye and rescue the princess right?

[fobar 86,533]

Ok and with those I can buy the golden arrows and shoot the dragon lord in the right eye and rescue the princess right?

thats the main goal of bitcurrency, good luck

[IrishSemtex 9,912]

thats the main goal of bitcurrency, good luck

Sweet I'm getting the hang of this. Way better than real currency. I can't buy golden arrows with a credit card or cash

[OzPride 27,571]

****coins* (in this case only - i like the idea actually)

[12er© 12,557]

Why?

 

 

cause bud light and coors wont pay him nothing

[cashfl0w 104,283]

Why is it news that people want to get paid in something other than cash?

  

Chris Leben used to get paid in strictly pharmaceuticals.

[freddievanhalen3 80,409]

Maybe we wants to buy all sorts of dummies so he can lay all over them 

[Jolldan 15,999]

The only thing I remember those being any use for was things like Silk Road lol is Fitch away to start selling crack on the side as well as fighting?

 

He does already have already have a face like somebody who's been smoking rocks for years.

[freddievanhalen3 80,409]

cause bud light and coors wont pay him nothing

lol best answer

[Hellequin 7,816]

So what you are saying is Fitch doesn't get paid.

[freddievanhalen3 80,409]

So what you are saying is Fitch doesn't get paid.

waaahhh

[UFCCagerattler 11,178]

So what you are saying is Fitch doesn't get paid.

 

Sort of. I guess he pays income tax on the value of the bitcoins he has, and probably he gets a capital gain or capital loss when he sells them or disposes of them in whatever manner. 

 

I can see a guy wanting to get paid in real estate or a fine guitar or a boat or a truck or something. That would insulate you from currency fluctuation and collapse. But bitcoins seem to fluctuate in value as much or more than currency does so what is he gaining in terms of stability?

 

The whole story does not make sense. There is obviously more going on here than reported. 

[NFL_FTW 30,808]

They were a backlash against the financial system. The idea is that a finite number are "mined" - by nerds with heavy duty pc's that solve algorithms. It's meant to be an off grid type of money, but the value of them can do terrifying things that make the Zimbabwean dollar look like a stable currency.

 

You can't do much with them like invest or buy most things, just sit on them and hope for the best. They're basically the only currency where all you can do is lay and pray so it's all making sense now.

Lay and pray is where Fitch feels most comfortable.  It was bound to happen that he go to the Bitcoin.

[fobar 86,533]

Sort of. I guess he pays income tax on the value of the bitcoins he has, and probably he gets a capital gain or capital loss when he sells them or disposes of them in whatever manner. 

 

I can see a guy wanting to get paid in real estate or a fine guitar or a boat or a truck or something. That would insulate you from currency fluctuation and collapse. But bitcoins seem to fluctuate in value as much or more than currency does so what is he gaining in terms of stability?

 

The whole story does not make sense. There is obviously more going on here than reported. 

he really does explain everything in the link i posted, dont know why you have a problem understanding that he gets paid mainly in cash and says some in bit coins.  he is sponsered by bit coin companies and this is him promoting them

[freddievanhalen3 80,409]

he really does explain everything in the link i posted, dont know why you have a problem understanding that he gets paid mainly in cash and says some in bit coins.  he is sponsered by bit coin companies and this is him promoting them

makes enough sense to me 

[fobar 86,533]

makes enough sense to me 

it would only make no sense if he was being paid in full right?  

[Shark_Etiquette 441]

He constantly on the deep web.

Obviously Fitch loves watching some deep shiz, yo!