Tag: pornhub

Crypto for Sex: Blockchain Takes Off in the Adult Entertainment Industry

Cryptocurrencies have become increasingly popular in the adult entertainment industry, as it can guarantee a high level of anonymity to its users, especially for pornography-related businesses.   

Anonymity and Privacy  

Many adult entertainment websites have created new ways users will be able to protect their identity details through crypto payment systems. In a research conducted by the studio VogoV last year, 470 adult video sites, 50 webcam platforms, and 35 sex shops worldwide now accept cryptos as a form of payment. Dash, Monero, and Zcash are considered to be the best coins for private transactions for adult content sites.  

Cryptocurrency transactions are recorded anonymously on a decentralized public ledger, making it challenging to track a person’s pornography habits. For the adult webcam industry, transparency and privacy are the most valued features of crypto, as provides authenticity and parties are known only by online handles and payment addresses.   

There is a fear that people in banks or homes will be able to tell which kinds of adult materials a user consumes through their credit card bills. Getting caught viewing or purchasing adult content may cause significant legal and social risks, especially in certain jurisdictions.  

The increasing interest in cryptocurrencies being used in the adult entertainment industry is a signal that cryptos are here to stay. 

SpankChain  

SpankChain is an Ethereum based cryptocurrency payments processor and is focusing on building blockchain-based economic and technical infrastructures for the adult entertainment industry.   

SpankChain recently partnered with the adult entertainment industry fan platform, JustFor.Fans and an anonymity service that connects models with clients via Skype, SkyPrivate. The partnership allowed for a new service, SpankPay, which will enable users to pay with instant transactions with different cryptocurrencies, including Bitcoin, Ether, Litecoin, ZCash, and Monero. The merchants will receive a 0.5% processing fee when users use the service.  

JustFor.Fans creator, Dominic Ford, said: “Using SpankChain, we don’t have to worry about being shut down due to the fact we are an adult company. We’d much rather support our fellow adult solution providers than use outside solutions that are potentially not adult-friendly.” CEO of SkyPrivate also stated that this partnership ensures individuals are accorded equal rights and payments for their services, mostly focused on sexting services and adult models service e-commerce platforms.   

Pornhub  

Appealing to the privacy concerns of its users, the leading adult entertainment website Pornhub also started accepting crypto payments and began a partnership with Verge, as well as adding TRON and Zcash as payment options.   

“Here at Pornhub, it’s important that we cater to our users’ ever-changing payment preferences and, as such, that means accepting cryptocurrencies as a payment method, which provide users with anonymity and security,” Corey Price, vice president of Pornhub, said at the time. 

Pornhub also partnered with PumaPay to enable recurring cryptocurrency payments for its subscription service.  

CamSoda  

Known as one of the world’s most popular adult entertainment websites, ranking in the top 4000 websites, CamSoda started to accept cryptocurrency payments for various features on its platform.   

Users on the platform can purchase tokens on the website using a variety of cryptocurrencies including Bitcoin, Litecoin, Bitcoin Cash, Ether, TRON, Monero, and Zcash. Data shows that 1% of CamSoda users already use cryptos as a payment solution, which was more than initially expected.   

Bitcast, one of the platforms developed by CamSoda in December 2018, allows users to combine interactive sex toys with the performance of the best cryptos. CokcBlockchain, which was launched in March 2018 by CamSoda, is a platform that allows users to earn cryptos in exchange for their nude photos.   

Strippers & Bitcoin  

The Legends Room, a strip club in Las Vegas made the first move allowing clients to be able to pay secretly with cryptocurrencies. The strippers have temporary tattoos of QR codes where clients can scan and pay electronically by using cryptocurrencies, mostly Bitcoin. The Legends Room also launched their own ICO, the token known as LGD.  

Images via Shutterstock

Bitcoin, Crypto and Porn: Will the Adult Industry Boost the Market?

Porn is a huge industry, according to research, as much as 40% of the internet is related to porn. 65% of all web traffic during peak hours is devoted to video and audio streaming. 

Data of Porn every second;

28,000 People watching
$3 million being spent 
372 people are typing the word “Adult” into a search engine

This is data by the second. The market is huge. 

In America, all social media tweets from top platforms including Facebook can reach 30% of bandwidth, with streaming services like Netflix at 33.3%. They don’t come close to the adult entertainment industry numbers.

Porn globally is 40%. Think about that.

Crypto and porn partnerships to date 

“SpankChain is a blockchain-based economic and technological infrastructure built for the Adult Entertainment Industry. By developing a framework, we provide sex workers with the core functionality necessary to create and operate a streaming or static content distribution application, while offering a range of services that provide enhanced functionality for these applications.“ — FAQ

They are offering an Ethereum ERC20 token but accept payments including bitcoin (BTC), Litecoin (LTC) and Monero (XMR).

Unfortunately, based on data seen on Coinmarketcap, the volume has been relatively steady but the price of the token continues to drop.  

Crypto for Sex: Blockchain Takes Off in the Adult Entertainment Industry

Pornhub

A multi-billion-dollar company in this field is yet another that has entered into toying with crypto payment features. 

Earlier this year, they partnered with Privacy based crypto platform Verge (XVG). Privacy tokens and this industry certainly make a lot of sense. 

Verge has a larger token economy with a strong market ranking and open-source. 

Pornhub had a reported 92 million visitors per day last year (2018) according to their analytics.

Data was also released stating that 1% of the user base paid in crypto. In response to this, Pornhub made further developments in partnership with crypto payment systems, PumaPay joining the billion-dollar company. 

If the 1% continue to increase, what effect can it apply to the crypto markets?

Is adult entertainment a market for crypto?

“In 2016 enough porn was watched, that if we took all of the data and stored it on USB drives, the distance would get us to the moon.“—Original quote 

It’s one way to get to the moon, right?

Mass adoption will take time, but if Crypto can ride the porn industry to the top, it might happen a little bit faster. 

Currently the main cases against crypto include;

Ease of use 
Design interfaces

In the very worst case, if this market can truly continue to grow, people would have every chance to test, improve and continue to develop our mind set of what cryptocurrency is. 

If we are currently at 1% of this market with major players becoming more determined to adopt the technology, the future can only be a happy one. 

What do you think? Is it a match? Or a left swipe?

Tell us in the comments below.

Image via Shutterstock

PornVisory Plans Token Rewards for Porn Streaming

In the crypto-sphere today, there are many live use cases of blockchain technology and the vast adoption of these applications is redefining the technological landscape as we know it today. Several online streaming services including dlive, theta, choon, musicoin have pioneered the space but PornVisory is making a remarkable debut that completely aligns with the anonymity of the blockchain ecosystem as it is set to reward users who stream porn on the site with cryptocurrencies.

Porn Industry and Cryptocurrencies

The direct involvement of porn sites with cryptocurrencies began when Pornhub began utilizing Verge coin for its transactions as far back as 2018. The use of cryptocurrency further increased when Pornhub was banned by PayPal back in 2019. The adult video site’s acceptance of Verge tokens has helped in driving mainstream cryptocurrency transactions and real-world use-cases. With the Verge coin that boasts of privacy, the anonymity of their over 100,000 users can be further enhanced.

The PornVisory Model

PornVisory is an Italian based cryptocurrency project owned by Veronica Noschese. Noschese, in a conversation with a popular blockchain media site, said that her company is inspired by the Basic Attention Token (BAT). She insinuated that if the users of the Brave Browser are being compensated with BAT, then users of PornVisory can also be rewarded with PVY tokens when they view ads and other content on the site. Noschese plans to sponsor the development and launching of PornVisory with her personal funds while admitting that there will be no Initial Coin Offering ICO. Upon successful launch and operations, PornVisory will welcome “angel investors.” The project is being handled by Deepit, a Switzerland based startup.

Drive for global acceptance

The PornVisory project when fully operational will benefit from the privacy centered blockchain system while also registering itself as a blockchain ambassador with the sole aim of seeing cryptocurrencies dominate the financial system of the world.

Image via Shutterstock

Litecoin Trading Volume Spikes 55% After Pornhub Adds LTC As New Payment Method

Data collected by Glassnode analytics provider shows a 55% spike in trading volume over the past 24 hours following Pornhub adopting Litecoin as a mode of payment.

Litecoin has seen a surge in trading just two days after Pornhub, the world’s largest adult website, added Bitcoin and Litecoin as payment options for its premium subscription packages.

Cryptocurrency Gaining Popularity

Glassnode data over the last 24 hours indicates that the value of Litecoin’s mean transaction volume (2MA) has risen by 55.8% – from 163.225 LTC to 254.255 LTC. Meanwhile, since yesterday’s early hours, Litecoin has declined from the $53 level to the $48 zone but then recovered.

Besides that, the 1d MA has seen a 5-month high and reached 249.767 LTC, up from the value of 245.656 LTC reached on 13 April 2020.

The reason for the current spike is clear as many Pornhub users are now paying for their one-time and monthly subscription fees using Litecoin cryptocurrency. Pornhub’s 130 million daily visitors want security and choice when it comes to payments. With an uptick in crypto adoption, adding Litecoin to the Pornhub platform allows the company to cater for the millions of crypto holders around the world.

Consumers can now spend their Litecoin at more than 2,100 merchants worldwide. Data collected by Cryptwerk indicates that in August this year, the number of firms accepting   Litecoin for their goods and services increased by 500 compared to July.

On Wednesday 2 September, Pornhub accepted Litecoin (LTC) and Bitcoin (BTC) as a payment method for its premium services. The Canadian-based company has been accepting Verge cryptocurrency (XVG) as payment for subscription since 2018.  Pornhub is the largest adult entertainment online site and one of the most visited websites in the world.

Crypto and Pornhub

Porn and cryptocurrency have always been mixed up in the subconscious of society. Such a relationship dates back to pre-Bitcoin days, as several cipherers believed that pornography would be one of the early adopters of non-government digital currency.

In 2010, Satoshi Nakamoto mentioned such similar views: “Bitcoin would be handy for people who don’t have a credit card or don’t want to use the cards they have, either don’t want the spouse to see it on the bill or don’t trust giving their number “porn guys,” or afraid of recurring billing.”

Cryptocurrency has been associated with porn industry on several occasions as it has been acting as a major payment method in this sector. Pornhub first made headlines in 2019 when PayPal stopped processing payments associated with the adult platform. This cut off payouts to several hundreds of thousands of performers who rely on pornographic activities for their livelihoods. PayPal cut off the scenes, but cryptocurrencies came to rescue.

XRP, Binance Coin, Dogecoin, and USD Coin Added to Pornhub’s Crypto Payment Options, Will This Pump XRP?

Pornhub has added new cryptocurrency options to its list of accepted payments while removing other ones.

While the adult entertainment platform recently removed privacy coin Dash and PumaPay token from its payment options, it seems to have replaced the cryptocurrencies with other ones, namely Ripple (XRP), Binance Coin (BNB), USD Coin (USDC), and Dogecoin (DOGE). Pornhub has therefore increased the number of cryptocurrencies it accepts as payments for its Premium content.

Crypto as payment for Pornhub accounts is not an option in all countries, but it is accepted in the United States, the UK, and Singapore. For other EU nations such as Germany, Pornhub supports bank wires.

Why Visa and Mastercard exited Mastercard

After having faced a ban from Visa and Mastercard last December, Pornhub has moved to add cryptocurrency as an option for payments. For its premium accounts, the only accepted payments for now are cryptocurrencies. Visa and Mastercard both pulled their support of Pornhub last months, when videos of sexual assault and child sexual abuse material (CSAM) were uncovered on the platform.

The scandal caused the credit major credit card companies to withdraw their payment services and support of Pornhub. Following that, Pornhub announced that it will be accepting more cryptocurrencies as payment options. Bitcoin, Bitcoin Cash, Tether, Tron, Ethereum, Litecoin, Monero, to name a few, are accepted for payment for its premium accounts, and currently, sixteen cryptocurrencies are supported on the platform.

Repercussions on content performers more than Pornhub

According to people familiar with the talks, Visa and Mastercard exiting have not impacted Pornhub the most, but rather, the content creators who rely on the adult entertainment platform to get paid. As Pornhub’s revenue depends heavily on advertisements, it is not as heavily impacted by the change in payment.

However, adult performers have disclosed that it was unfortunate that Visa and Mastercard are holding Pornhub accountable by pulling their partnership. If performers are not able to receive Visa and Mastercard for their work, this becomes problematic as many rely on the adult platform as their main source of income.

While adding cryptocurrencies as a payment option may be seen as innovative on the part of Pornhub, this may serve to paint digital assets in an even more unflattering light. Cryptocurrencies such as Bitcoin have been perceived as a means to facilitate dark web transactions by non-conformists, for the anonymity it provides while transacting online.

Will XRP regain more value?

While many have moved away from XRP operations in the US, Pornhub has seized the opportunity to add the token to its options. Will this be enough to save the cryptocurrency from plummeting to new depths? Currently, amid all the heat it has been receiving from the SEC alleging it is not a security, XRP has managed despite it all to retain a ranking among the top five cryptocurrencies by market cap. However, it may plummet further and be overtaken by Cardano (ADA), as many exchanges have backed away from it. XRP has lost a lot of its market value and has dropped in value, underperforming compared to other cryptocurrencies.

Currently, it is struggling to break $0.30, and its market cap rests at approximately $13 million. With the cryptocurrency being added to Pornhub’s payment options, this may serve to boost the altcoin slightly, as traffic on the adult entertainment platform has significantly increased during the ongoing COVID-19 pandemic.

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