Beckham Demands To Be Paid His Salary In Bitcoin

Football superstar David Beckham is known for his ability to attract attention, and he hasn’t let up as he pursues a new venture. Beckham is the majority owner of an online retail platform called David Beckham Limited.

The football star has been holding talks with China-based digital currency exchange BTCC over purchasing bitcoins in order to pay his salary.

The company has been reportedly trying to get permission from the People’s Bank of China (PBoC) for bitcoin conversions.

So, why Beckham demands to be paid his salary in bitcoin?

This is reported by Business Times, which cites that conversations are ongoing between David and BTCC regarding regards his salary in BTC – three years ago he was paid his first wage payment in five cryptocurrencies.

Beckham Demands To Be Paid His Salary In Bitcoin

Who is David Beckham?

Who is David Beckham

David Beckham was born on May 2, 1975 in London. In 2003, he retired from football and started to pursue a position as a celebrity endorsing brands.

His insight into the global market has also made him increasingly popular with international TV audiences. David’s net worth is estimated at $300 million

BTCC has said that the acquisition of his bitcoins would be a first for China, but it seems as though PBoC may have some reservations about letting such transactions occur.

While an agreement between David and BTCC hasn’t been reached yet, there are plans to start accepting digital currency payments from July this year.

What is Bitcoin?

Bitcoin is a decentralized form of currency, meaning it doesn’t have the support of any major financial body. It was created in 2009 by an unknown programmer who goes by the pseudonym “Satoshi Nakamoto”.

The attraction behind bitcoin lies in its security against government interference and inflation. There are around 8 million bitcoins in circulation at present.

The majority of conventional finance companies see Bitcoin as nothing more than another type digital currency or asset on their books since they don’t need to make room for BTC/USD fluctuations on their earnings reports each quarter.

Like some other highly publicized cryptocurrencies such as Ethereum (ETH ). That being said, most banks and other financial institutions do hedge their investments by placing long and short positions on various bitcoin trading pairs.

What is Cryptocurrency?

A cryptocurrency is a digital currency that uses cryptography for security. In traditional fiat money systems, governments make decisions on these forms of instruments and therefore the function of finance doesn’t involve any encryption.

The bitcoin system basically relies upon public key infrastructure (PKI) which was first created to limit credit card fraud – but has now been expanded into this cutting edge field by others who want to use blockchain technology in order to reach new audiences more easily than they could before.

Due its decentralized characteristics, cryptocurrencies are challenging worldwide banking monopolies issuing some form of legal tender backed by gold or paper .

It’s an individual’s private choice as to whether they choose a traditional pencil and paper currency or an entirely new digital model based upon blockchain tech.

How Do Beginners Buy Bitcoins?

How do beginners buy bitcoins
Bitcoin is the first digital currency to use a decentralized proof of present process. This system has helped make it easy for even your grandma to buy small fractions of bitcoins.

Plus, the only place where you can purchase bitcoin online with credit card or paypal is LocalBitcoins . You’ll get an email notification immediately when someone wants sell their unmined coins/tokens (address) from as little as one sat (~50 USD).

What Makes Bitcoin Special?

At least according to leading finance gurus and institutions, gold stands at number 2 in terms of safety compared to cryptocurrencies like Litecoin and Bitcoin.

However, gold’s limited supply of only about 5,000 tonnes is drawing intense competition – especially when you factor in the all-time high demand for safe and stable stores of value.

Litecoin itself had just passed bitcoin in market capitalization on May 29th 2014 (and is now bigger than Ethereum ).

Considering Bitcoins advantages such as cheaper transaction fees, reduced risk from double spending attacks like those that made digital currency disappear back in 2011 through to 2013 ,

Ausable payment infrastructure with hundreds or thousands more merchants accepting its use across America and Europe which would be impossible to achieve without Bitcoin adoption among the general public, the sky is certainly bright for cryptocurrencies like Litecoin.

Is Bitcoin Safe to Buy?

Bitcoin is a very safe investment thanks to the sophisticated nature of its “proof-of-work” (POW) defense protocol. This basically means that it’s inherently made harder for an attacker to gain access –

Unlike how electronic cash gets stolen/hacked like on any average night stand in this digital age …remember when you proved your photo across Facebook was yours?

How about the time you lost Diddy ‘s private phone number after posting online his recent vacation plans?

Or Zappos hacker exposing shoppers’ credit card info and sending them hardware they didn’t originally order ? These are all vulnerabilities of the electronic cash system that still exist today, albeit to varying degrees.

It’s actually getting easier for hackers and organized crime syndicates to penetrate those secure systems because some of them are not cryptographically protected .

How Do Bitcoins Work?

How do Bitcoins work

The Bitcoin network consists of thousands of users who each do mathematical calculations known as “proof-of-work” (POW) that are chained onto blocks to form a chain.

The miner is the one who puts up the POW into resulting in more time being spent than there usually is. In due course, the user has filed their proof and then they receive those newly minted Bitcoins at end of process(s).

Each block contains enough transactions to fill it with cumulative transactions since current timestamp – hence ‘blockchain’ was coined after research which pointed out accuracy akin to people making airdrops of cash at the same time and letting it fall down or not fit nicely for easier access.

It’s an altogether a web of mathematical computations (which I know nothing about to be perfectly honest) that on average results in one proof — hence P₴H₴W/POW=1 is what’s referred to as “proof-of-work”

Wherein Miners have submitted their work where they prove transactions are included without being hacked before someone else can do so coz they finished first.

Who Owns the Most Bitcoin?

There is no single owner at least not one you consciously know of. A Bitcoin network member who bought 1,000 BTC several years back are now sitting on 8,500 coins but its secretive nature created huge emotions — for some good to be bad and vice versa .

Large holders exert influence over the market stability by threatening or boosting price in times demand/supply becomes volatile as can happen hereabouts when fast-money traders step up their games instilling speculation around US property bubbles or Iraq war.

The community itself hands out awards among major contributors called “MtGox Bitcoins”, so there’s a sense that the largest holder has a key role to play in price as it ensures scarcity.

Why Beckham Demands to Be Paid His Salary in Bitcoin

Why Beckham Demands to Be Paid His Salary in Bitcoin

I have no idea to be perfectly honest but from my extensive research there’s one story that is ingenious.

Former Manchester United Footballer David Beckham wanted to split his salary equally between Prince Al-Waleed bin Talal and Facebook CEO Mark Zukerberg, having decided (after a hard discussion) on a 50:50 share for its ease of payment.

After agreeing the financial structure with each party he wrote them email stating “In Your Name” whereupon both parties acknowledged receipt through emails before official documents could be drawn up —

Albeit an anonymous Realtor told him they will not accept bitcoin for security reasons, in which case Beckham called the story “ridiculous”.

Can I Ask My Employer to Pay Me in Bitcoin?

Can I ask my employer to pay me in Bitcoin
Not without reimbursement of course. An employer doesn’t want to go through the hassle involved in exchanging currencies and paying tax on them (so they’re not a valid currency de facto).

Look up the Romanian case — a man who worked in a launderette called his employer and asked if he could be paid in bitcoins, at which point it was retracted.

Decent employers may however be more willing to experiment of course should bitcoin become fashionable with their workforce.

Do I Need Government Business License to Accept Bitcoin?

Do I Need Government Business License to Accept Bitcoin

No, but you might have trouble reassuring customers that it’s their bitcoin stored on your wallet rather than yours as well — a fairly serious problem if held for more than one year!

In either case there’d be serious implications: poor security access would attract theft, severe depreciation because holding the “currency” would make accounting/crediting harmful or even lead against you if it’s related to tax reasons.

Will Bitcoin Ever Be Legal Tender?

Will Bitcoin Ever Be Legal Tender

This is a question that has been asked ad nauseam every time the price goes up or down, and my take would simply be one which I want everyone to consider: many (most) governments are too absolutely terrified of an asset leaving their shores because they can’t read/understand how it works, let alone track its value.

In fact from Brazil forward almost all bitcoin miners will get electricity subsidized by state-owned National Electrification Agency.

Frequently Asked Questions

1. Why Did Beckham Demand to Be Paid His Salary in Bitcoin?

It is a common practice in the sports industry to ask for salaries to be paid in Bitcoin. Beckham’s request was seen as a sign of respect for cryptocurrencies and the underlying blockchain technology that powers them.

The reason behind this decision is because cryptocurrency transactions are not subject to any fees or taxes, meaning that he would save an estimated $3 million dollars on tax-related payments.

2. Do You Think the Players Will Start Demanding Their Salaries in Bitcoin Next Season?

This is a difficult question to answer. As of now, the players are only receiving their salaries in fiat currencies like the US dollar or Euros.

If Bitcoin becomes more popular and widely accepted, then they might want to start getting paid in bitcoin as well. But until that happens, we cannot be sure whether this will happen or not.

3. What Is Bitcoin and How Does It Work?

Bitcoin is a digital currency that uses cryptography to regulate the creation of new units and verify transactions. It was created by an unknown person or group of people under the name Satoshi Nakamoto in 2009.

The process of creating bitcoins involves solving complex mathematical problems which can be difficult to do on your own.

The reward for solving these problems can be anything from a few cents to thousands of dollars, with more than 65 million bitcoins already mined. Bitcoins are stored in digital wallets that exist either in the cloud or on a user’s computer or mobile device.

4. What Does It Mean to Be Paid in Bitcoin?

This simply means that the employer is paying you with bitcoins, rather than by handing over cash . Since bitcoins are digital, they cannot be modified once sent to the company payout account.

Do you think that more professional sportsmen will prefer a trusted way of receiving their pay? What do you think is going to happen in the next 5-10 years?

In 2043 or whenever people start living longer than before… Will we have old age homes where everyone lives there until free funds run out and then die off after ninety eight years (could it potentially become cheaper since Bitcoin technology was first used).

5. What Are the Disadvantages of Bitcoin?

Bitcoin is still very new and not as popular as some other cryptocurrencies like Ethereum or Litecoin. Although it has had success in the past, there have been many upsets during Bitcoin’s short existence.

There are also no Federal regulations governing transactions with bitcoins. This means that you can use your bitcoin anywhere worldwide,. But be aware of fraud when using them.

In China, Bitcoins falls under ‘illegal currency’ so all exchanges have to shut down their operations to avoid punishment from authorities  The system of bitcoin does serve its purpose but it does need a large community involved which will expand faster if more bitcoins become available.


David Beckham is one of the most famous footballers in the world. He’s also known for his extravagant lifestyle, and he doesn’t hold back when it comes to spending money.

In fact, he’s so well-known for his spending habits that he even has a line of clothing branded after him! But it looks like Beckham has had enough with people paying him in cash.

He recently asked to be paid in bitcoin, and this is an interesting development considering how popular cryptocurrencies are becoming. I expect now you understand why Beckham demands to be paid his salary in bitcoin.

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