MMA Welterweight Jon Fitch: Why I Get Paid In Bitcoin

By
October 19, 2015

Mixed martial arts welterweight Jon Fitch is the first MMA fighter to be fully paid in bitcoin, according to Inverse.com, a culture and technology news site. As an international MMA competitor, he claims he gets paid easier and faster with bitcoin. Fitch loves cryptocurrency and he thinks it is bringing about a new form of commerce he calls “techno-feudalism.”

A former top welterweight contender for Ultimate Fighting Championship, Fitch said a lot of MMA fighters have difficulty with payment because mixed martial arts is an international sport. It can take weeks to get paid. This is problematic because MMA fighters have a lot of expenses such as trainers.

A Long Time Crypto Fan

Fitch has been following bitcoin since its beginning and has been a big cryptocurrency fan.

He was sponsored through Nautiluscoin for a fight last June.

He said he likes BitGold because he can hedge his assets. He also likes HYPER coin’s 5 percent interest. This coin is almost two years old and it has gaming servers.

He plays Flap Pig, a mobile game app that allows players to win Satoshi (worth one hundred millionth of a bitcoin) for collecting coins.

Fitch relies on Twitter to keep up with BitGold and HYPER coin.

There is also a show on YouTube he likes called Bitcoin Rush.

Optimistic About Bitcoin’s Future

Having held bitcoin since the time it had a higher price, Fitch said he never holds more bitcoin than he can afford to lose. But he has never worried about it.

“I think it’s an exciting time and I think people need to get over worrying about how it’s going to go mainstream and just keep doing good things, making good products,” he said.

One reason the price has fallen from its earlier highs is the growing adoption of bitcoin, Fitch said. More stores are accepting bitcoin directly.

Also read: How a bitcoin ATM promotes mixed martial arts in a Las Vegas gym

Crypto And The Rise Of ‘Techno-Feudalism’

The growth in bartering taking place in combination with cryptocurrency has resulted in a new type of commerce that Fitch referred to as “techno-feudalism.” Cryptocurrency has made it easier for people to sell eggs from their own yards. “With techno-feudalism you just transfer your bitcoin into the little bitcoin machine and get your eggs,” he said.

Asked what changes he’d like to see in bitcoin technology, Fitch said he would like to see more secure wallets. He would also like to see innovations that can be decentralized.

Fitch said he would like to see more encrypted secure services that would allow people to pay for the services in cryptocurrency.

He thinks cryptocurrency will prevent instances of credit card hack such as the Target credit card breach which victimized his mother.

Images from Shutterstock and Wikimedia.