Topic: PornHub now accepts Bitcoin and Litecoin (News coincides with BTC decline?) (Read 794 times)

This is not about Pornhub.. any site/service/business can start accepting Crypto (based on the regulations) but that doesn't mean they would get millions of dollars worth of Crypto over night to dump on the market. That's absurd if anyone claims that.

I don't understand. Pornhub was accepting fiat payments till now. But I never saw anyone badmouthing fiat currency because Pornhub accepts it. So what's the fuss all of a sudden when they start accepting Bitcoin? And it's not like a large fraction of the circulating supply of Bitcoins are going to be used for this purpose. At the most it may be 0.0001%. It's a free world and online shops are free to accept payments in whatever form they like. As long as Pornhub is 100% legal, we should not be having any issues with them accepting BTC.

Or your wife, which would make it even worse in most cases.

On the other hand, adding crypto as a payment option will not make the system idiot-proof.

Porn is a business and everyone in this world had the habit of watching it or atleast once in their life time so it should not be considered as sin because its just everyone like to do but privately here people are doing it publicly according to the story.

Crypto exchanges are largely unregulated, so the types of things that would be illegal in stock trading (like spoofing orders for example to manipulate price) are not prohibited. So I absolutely believe that there is real fraud and manipulation going on in crypto, caused by people with real money on the line pushing the price around to increase their profits.

Taking advantage of cryptocurrencies for payments is a great opportunity for mass adoption..  the porn business is a business with a very large turnover, users definitely need privacy, and making payments with cryptocurrency can hide the user's identity properly.  I honestly don't really like using Bitcoin as a means of payment because for me Bitcoin is gold and it is very valuable, it would be great if porn sites adopt more LN and stable coins for payment..

I will not sugarcoat everything. For me, this news lies in neutral I guess. It has bad and good points. I find it disturbing in a sense that it is now used in porn industry. But if you will realize, bitcoin was used on dark web so many years ago and until now so why most of us feel triggered in this small adoption? .

Now, if you asked me if I'm turned off then my answer is NO because an adoption is an adoption. We can't undervalue it just because it didn't meet our ideals. I guess all we need to do is to focus on the brighter side.

I think that is a bit of a stretch to the information we have here. Relating crimes to pornhub accepting bitcoin is just absurd here, I am one of those people that would not use bitcoin paying a premium in these sites but will continue to access these sites since I am satisfied whether I have a premium or not. Still, I am not committing any crime because of it.

Just pure coincidence I think that the correction of Bitcoin happened when they announced it.
Or a "history repeat itself" scenario because when they accepted Verge (shitcoin), the price of the coin went down as they announced it. Just a theory about this .

Either way, the correction of Bitcoin is somewhat expected already because it needs it. In the past weeks we saw Bitcoin's price go up and up so it needs to make a bit of a correction and this is it. I expect for a sideways move for the price of Bitcoin for a few days to weeks. Regarding PornHub accepting BTC and LTC, good publicity for the crypto but I hope that there are some who will use it to pay.

Dollars are accepted by just about every site in existence, its really not a proper reason to avoid anything.    The crash as its described is a 20% pullback at present which is quite normal volatility for BTC and comes after we more then doubled the price easily, everything is in context but I think crypto is mature enough now that any one site or use is not going to be sole definition in peoples minds.     I hope to see BTC develop and spread its usage, I do think thats vital to its success far more then all the speculation we do on price action the actual fundamental utility is something I hope to hear regularly.

In my opinion it was just a coincidence when Pornhub accepted Bitcoin and Litecoin as payment, after that the crypto market price
has decreased. So don't because Pornhub is an adult site, then concluded that investors were disappointed about it. I believe more
and more companies are adopting crypto, will make crypto prices even better. So until now I still don't believe the market crash was
caused by Pornhub.

We can't blame BTC, because crypto is a tool, it all depends on who uses it. If chosen from the field of technology this is an advance because there is a real adoption of the goal of Crypto as payment. although on the other hand, it is necessary to regret normally because the crime of pornography will increase

I heard this before that they are accepting bitcoin as payment of membership but now they are totally announced of supporting bitcoin and not the only bitcoin but also altcoin.

This is also a marketing strategy because I saw there that they had an advertisement from a stake.com a gambling site which is also use cryptocurrency.

Well, this adult site is very popular for all adults and I guess most who visited here are of course are adults. Another positive points to bitcoin when they saw this ads pop up on their screen upon searching for a good videos.

its a good thing so the effects should also be good but it would be strange to think that btc and ltc decrease after adoption or after some company supports them .  what happened ? do people got turned off after hearing the coin will be supported on a porn site  .

 this isnt dirty but this better than crypto being known to be used by criminals . and people shouldnt act clean because they also watch porn  .

I don't think Pornhub accepting BTC and LTC has anything to do with the market crash currently. The market crash was always expected since the prices continued surging and a correction was expected at some point.

People always try to associate some reason or another with market surges and crashes without properly researching whether they are properly linked or not.

Pornhub accepting 2 major cryptocurrencies is a good thing though since it will definitely drive adoption rates upwards in a small meaningful way in my opinion.

Maybe when PornHub accepts your coin that means it is over with it. IT same happened with Verge 3 years ago. As soon as it was on PornHub everyone forgot about Verge. Same with Tron a year ago. As soon as PornHub accepted Tron whole Bittorent and Warren Buffet lunch and love Tron was forgotten.

I think the reason why bitcoin hasn’t conquered the adult industry yet is that majority of these companies are still not confident enough to trust the cryptocurrency world.

Some websites already adopted the crypto mode of payment which is an advantage for the companies because it has a lower transaction fee when they’re paying the artists/performers compared to what the banks offer. Aside from it, some companies opted to jump in crypto is the anonymity it offers to the consumers which the latter demands, especially those who are addicted to watching it.

But then, despite its advantages, many people are still thinking twice whether to use and switch into bitcoin because its price is volatile unlike that of fiat money which is only affected during a market crash. Bitcoin’s price varies over time and its increase and decrease in value are unpredictable. It depends on the season. Another thing is the convenience. Bitcoin as a mode of payment for the adult industry can so a hassle to the consumer because it takes about 10 minutes for a single transaction, while in credit/debit cards, it would only take seconds or a minute or two.

Another thing why bitcoin hasn’t take over yet the porn industry is that companies are afraid to take the risk because the majority of their consumers are just like you. They are just driven by impulsive emotions and libido. They won’t bother to spend a penny for a porn video because they can just click the incognito and search for other sites that offer free clips to watch.

I am also not sure or agree that the fee for each transaction using BTC, I think it will be big enough for some transactions that may only be not more than 100 $, so there is no reason PornHub throws away all their BTC resulting in BTC dump, of course the fees received by actors in the form of cash, maybe the owners save the BTC they get if they really think smart.

Years ago a news like this could have sparked all kind of discussion about what this could mean for the market and similar stuff like that, but now in 2020 we cannot expect that it generates more than a mild discussion, I am happy for the additional adoption this could bring but if we want a true significant change to happen then we will need the whole industry adopting bitcoin as the standard for their payments something I do not see happening.

Age verification is very important to do. Because to avoid children under 18 years of age from being able to access adult films. Some governments do prohibit and block pornographic sites, including in Indonesia too. With the adoption of bitcoin by pornhub or other adult sites, everything will become anonymous and age filters will no longer be useful because everyone will be able to access premium features more freely.

There are many pros and cons when talking about adult sites like this, because indirectly the effect will affect the next generation.