Do You Think Professional Pool Players Should Be Paid In Crypto Or Cash?

[Thomas Martin]

I would definitely prefer cash. I do not ever get involved with crypto currency, and do intend to ever change. However, maybe there could be an option, so a player could choose what he or she would rather have. This way the players who would prefer crypto could make the selection.

 

[JAM]

Would it be an acceptable form of payment for pro players?
One reason a promoter could say is safety.
Safer for the players. Less chance of being robbed, less chance of players going bust at casinos.

Some of the big action players at DCC use crypto for payoffs.

 

[JAM]

Frog skins
Lettuce
Green backs
Bread
Loot
Cheese
Doll Hairs
Buckskins
Clams
Scratch
Cheddar
Benjamins
Moolah
Dinero

Cuebuddy>>>Missing a few.

Pretty conclusive list. Add "cabbage" to the bunch!

 

[Chicagoplayer]

Some of the big action players at DCC use crypto for payoffs.

I’ve heard that too.

 

[staticfire98]

Pretty conclusive list. Add "cabbage" to the bunch!

I thought this was someone’s seed phrase. Lullz.

 

[g0ds gReeN]

Money talks. Bullshit walks.

 

[straightline]

What's the scaling on bread vs dough?

 

[Bob Jewett]

... The anonymity of crypto was and is widely misunderstood. Every transaction that has ever occurred is published to the public ledger that is used to verify the chain.
...

I thought that there was no connection to an individual's identity in the system itself -- you are just a number in the system. Is that not true?

 

[Badpenguin]

I thought that there was no connection to an individual's identity in the system itself -- you are just a number in the system. Is that not true?

Just like the TOR network and similar VPNs, there are ways to trace all transactions, given enough motivation and resources (governments). Particularly if you ever convert that crypto to cash. There are cameras everywhere.

 

[staticfire98]

I thought that there was no connection to an individual's identity in the system itself -- you are just a number in the system. Is that not true?

Yeah, it is still true in that situation. Anyone can create a wallet that is only defined by numbers.

The issue arises when a person wants to transfer money to a US banking account. Each crypto exchange is registered as a US money transmitter and must abide by anti money laundering protocols. With large amounts the source of funds must be explained.

Crypto is probably the easiest payment to receive if a person is from a foreign country with relaxed banking and tax laws. Many countries that don’t have capital gains taxes will not care at all where the funds come from and a person can transfer directly into a bank account without any questions.

Edited to add: Another advantage is that a foreign player could also hold their winnings in a US stable coin in lieu of a native currency that is inflating more rapidly. Maybe even a Japanese player looking for alternatives to the Yen.