Topic: PornHub now accepts Bitcoin and Litecoin (News coincides with BTC decline?) (Read 755 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.

If we talk about supply/demand relations, then we would have noticed a spike after May 2020, as a result of the block reward halving. The spike didn't occurred then. A small spike was noticed during August, but again after one month the exchange rates went down. It looks to me that whales are manipulating the exchange rates to some extent. Any impact from Pornhub should be minuscule.

Well exactly, and any time a new merchant comes online, which increases the use case or at the very least doesn’t shrink it, there would only be upward pressure at best and no change at worse. So I’m baffled by the question that the two would be linked. It doesn’t make supply and demand sense.

Funny thing is that I have seen better news than this Pornhub stuff, and price still declined with those better news, not to talk of this one. It’s quite good that Bitcoin is being accepted, but being accepted on pornhub can’t really get us to the level you’re imagining.

I think there are things and areas where Bitcoin needs to be adopted to boost the acceptance rate and those are the areas that we need to be targeting right now. Like I once saw a news that PayPal will start to allow their customers to exchange cryptocurrencies using their payment app, although that’s still considered a rumour for now. And we should also have it in mind that it doesn’t change anything, prices will still go up and down.

To really move the price of BTC you have to have a consensus around the world and multiple markets.    I dont think this particular outlet or usage for BTC counts as a negative effect especially and we know previously that the more BTC is used in various ways even while being spent it becomes a positive as it raises monetary velocity, circulation and usability.   The token is monetised by its acceptance and usage for value exchange and becomes closer to commonly accepted money, I still think most of the world does not yet see BTC as money but its generally good if we find as many easy ways to put it to use at our convenience.
   As Satoshi speculated originally this is easily a good application and my main concern is that utility is real to the website itself and it finds itself happy and at ease with accepting BTC for many years to come.   I'm always going to be bullish on fundamentals if BTC improves its ease of use and I hope we keep seeing that, price action is secondary to good news and improving utility.

In Pornhub's case, I will say it's the cost from the processor they have to pay also when batching transactions, they probably have to take another hit with the conversion, and those guys have to make some sort of profit on top of it, so..that's where the close to 10% goes, since we're talking about a small amount, 10$ in which probably just actual cost  take that bite.

Actually, went with a test (good, now I have two account on it, as I forgot what email I usd for the first one) :
While buying the yearly plan, worth $95.88 they ask for
Status:   Waiting for your funds...
Total Amount To Send:   0.00939000 BTC (total confirms needed: 2)

0.0094 which is 97$, so rather than a percentage is more like a fixed cost, of ~ 1$, so I'll have to accept they are not really praying on crypto users.

But, in LJ case, it's pure fleecing.

Why would a merchant adopting BTC cause a price decline? It was a coincidence. In my opinion, the drop was much more about a technical failure at $12K and subsequent influx of BTC supply on the market.


Interesting, I wonder if this is intended to hedge volatility? Or if they are just fleecing crypto users, knowing they are happy to pay a premium to spend their coins?

Well, now my history looks like a porn addict but I have gathered a bit of info on this.

The first one is that if you pay with crypto you don't actually pay the same amount, while with a cc card you pay 9.99 with BTC:


it's 10.7$ without considering you pay also the tx fee, so even assuming the cheapest fee you still pay 10% more, just like LiveJasmin who has a 10% percent from the start.

As for the impact, pornhub might have more visitors but it's totally trailing behind in terms of revenue, the entire company that owns pornhub and others has recorded 500 million in revenue while the video chat industry (in which al of the top3 accept bitcoin) is said to gather close to 2 billion a year. But I doubt more than 1% of the payments are made in cryptos on any of them.

Also, people talked about verge but seems like there is another altcoin, pumapay, who is accepted on a  lot of porn website, bever heard of it before.

I am not entirely sure how could pornhub accepting bitcoin could mean anything to bitcoin falling down, I do not think that there is any connection at all, it is such an obvious situation that they are not connected at all. Bitcoin goes up and down all the time, this was just a period it went down and it just so happens that at the same time PH started to accept bitcoin as well, coincidence at best and nothing more, we shouldn't really look into it too much.

Obviously there are times when we assumed that something major changed the price of bitcoin, there are days major news do have an impact on the bitcoin price, but this is not something that could change the price, it is neither major news nor it is a bad news neither, how could it be considered something bad for general crypto world?

Somehow you have a point but try to consider the advertisement given for that addition, imagine if millions of users can see that on the option for sure they will be curious to try this and also bitcoin is not new so provably those who have little knowledge about it will try to use that option. And maybe they could discover on how to earn with it if they will research further on how to use bitcoins.

For now we cannot relate to anything but its a good start anyways.

Well, In regards to the morality of allowing  adulterous people and fornicators from using Bitcoin, I think it will be pure hypocrisy to do that without banning other sinners from using bitcoin for sinful/immoral activities.
Basically all fiats are used and accepted for all sort of immoralities that are approved or accepted by people...immoralities like blasphemy, murder, abortion, fornication, hate, approval of junk foods, drunkenness, corruption, greed, cheating, false knowledge, lies, hypocrisy,  etc
When it's time to regulate sins/immorality(the Church is currently helping in this regard) , I hope people will be ready to ban people from using their currencies for all sinful/immoral activities?
Bitcoin or any good/serious cryptocurrency should be able to help prevent most/all immoralities through decentralized governance.

The permission for payments in Bitcoin and Litecoin has nothing to do with the price of bitcoin because investors are not more interested in a porn site than financial information sites and bank directors' statements.
The price of bitcoin fell due to some investors taking profits and the price dropped was not related to Pornhub.

I heard about this news before that Pornhub would start to accept Bitcoin as a payment for making a Premium Subscription. Since Pornhub is one of the most popular Porn sites, I think accepting cryptocurrencies like Bitcoin and Litecoin could help to increase crypto's mass adoption. But are we sure that there will be people who will used their bitcoins as payment for premium subscription?

You need to buy the subscription by doing this you may have access to all the premium contents mostly the videos but for the cam chats you need to pay the model and it should be anything in your choice and the payment process will pay the amount paid in the way the models want.

Agreed with everything else, but not with the "fast and cheap transactions part". Let's be realistic. There are various advantages with making Bitcoin payments, but being fast and cheap are not among these qualities. A confirmation takes anywhere between 5 to 60 minutes (compared to 1-2 seconds with Visa/Paypal) and the average fee is around $5 now (credit card payments usually charge a fee of around $0.30 for small transactions).

Well, again , there is a strong connection between the concepts of "privacy" and [any disapproving behavior].
You can say as much as you want that everyone is watching porn and there is nothing wrong with it but you know perfectly well that this is just hypocrisy and nothing more.
And every time in the end, as some similar [not the brightest] companies integrate a token into their payment mechanisms , I am not happy just because it only works to strengthen the not the best reputation of the cryptocurrency as a whole.

Why they haven't before this is beyond me. I am betting that their actors have been asking for this years now. I might actually support them and buy a premium or something i can buy with it. Can i buy single videos or just premium? Do their models have to accept btc as well or can they decide what to payments methots they accept for premium videos?

This is how google work. They tend to give the consumers its best to offer like the interest of that certain like for example in the likes of visiting porn sites. Google will then suggest another porn sites that might interest their users. This is also how they earn from the ads being offer to users that will buy or subscribe to which it will ask for payment. Google really earn a lot in the internet and porn site ads is just a part of it.

It still shows up on the credit card statement and it's one google search away from being figured out. This didn't work as a privacy feature even in the 1980s for mail-order dildos so not sure what they're trying to do there other than to mislead their customers.



And yes, I realize that Google now thinks I subscribe to PornHub. It's ok, me and Google have an open relationship.

   It's spreading on all' sides, and I think that gambling and porn industry can spread it on all other business. These two because
most of the users value privacy and anonymity, on top on that fast and cheap transactions. It has to start somewhere, so why
not from business on the margins of society.
   Don't worry Tbterryboy we will see the whole world making most of the purchases using some crypto-currency, that time is
coming.

Porn sites are frequently hacked and a lot of times, the customer information is leaked. Not just the credit card information, but the personal data of the customers were made available in the public domain by the hackers. Rather than the transactions showing up in the credit card statement, the probability of such a data leak is more worrying for the customers. I am not sure what role Bitcoin can play here, because identity verification is not linked to the payment method in this case.

Seriously, I didn’t get why some people were happy about this earlier this week, they were just posting about it and it was annoying for me because this is not what I need for Bitcoin, I expect something better, this Pornhub shouldn’t even be a news at all because it doesn’t make any sense, there are better things to consider.

Imagine right now that the whole world is making most of their purchases from online businesses, imagine those online businesses are the ones that are accepting Bitcoin for a payment? That’s the kind of news I prefer to see, and not pornhub. When they were spreading this news of porn and Bitcoin I wasn’t happy with it, because I knew it’s only going to create negative reactions from the public.

I have to admit that I didn't know that the sites you mention also accept BTC as a means of payment, although I know about them - but maybe this news is so highlighted because PornHub is the king of the online porn industry (although I may be wrong about that).

I’m not sure how PornHub presented this new payment method to its customers (if at all), but if there is no benefit of this method of payment, then most won’t even use it. I first came up with privacy protection, but after reading that PornHub uses a 3rd party biller that actually hides that someone paid a premium account, then it’s much clearer why their customers use credit cards.

Pornhub is the biggest btc adopter in our world. Sounds ironic

As far as I know that privelege is not that huge.

I've been watching some videos at that platform and I can't download some of their videos which required Premium account. If you have an IDM or other download manager, you could do that. I know that instead of supporting those personalities I am doing things that could make them stop their source of income in that industry but I am just saying as a free user and it is not that I am the only doing that. Some actresses' videos require premium accounts so as a free user, you can't watch them.

One of the advantages with using a credit card is that you don't need to prove that you are above 18 years of age. But then Bitcoin is an anonymous payment method and you may need to additionally verify your identity for using Pornhub. Moreover, many of the countries have become increasingly restrictive on porn usage. India has banned it completely, while a few other governments want the users to provide facial recognition through webcam, in order to gain porn access (the excuse being given is the same, i.e age verification).

Now it is time to get hardcore in porn. LOL, yeah any guy could love to watch porn and there are many videos that are free anyway. However, there could be more excitement getting a VIP the privilege of videos that are really great to watch. Due to identity issue of course not all like to get verified so by doing cryptocurrency payment then this would fit in watching porn getting vip privilege as anonymous.

I have also see article regarding pornhub announcement on 2018 accepting stable coin (USDT) and other altcoins. I just forget the crypto they mention.

Any form of payments in exchange for services it's okay in my opinion hence it's made to make online payments after all, Bitcoin and  Litecoin are no exemptions about it as long as it serves its purpose. I don't think it will hurt the reputation of those two coins joining porn industry business as part of payment system hence anyone can use it freely and anonymously. In my point of perspective, it's a just a type of adoption of payment system.

Of course that is related mate but the none related is the fall of the market yesterday because there are no really connection for that.
And besides Bitcoin has been accepted by Pornhub even before this news comes out yet nothing happens to the prices.
This is a clear correction that brings this market drops again and try to check the market now The market cap is going up and down,seems like there are a try to
make a comeback but only few are supporting so the growth is being denied.
and again never connect a Porn site for the Market drops because even the Whole Pornhub wont make the crypto market shaken like this.

It probably just coincided with the BTC decline. I see no actual reason why the reason for the price decline being about Porn accepting crypto, like, I'm pretty sure that people on this community know that crypto fits with the system of payments in porn, and afaik, porn is a pretty legitimate industry and a pretty big one at that. I really doubt someone would just dump BTC to the market just to prove a point that he/she hates porn or something.

Then we can also assume that it isn't because they hate porn no? It may be for some other unknown reason that is only known to those insiders or something. We'll never really know about it though since it probably involves either private reasons or something of the sort.

I doubt that pornhub is the cause of the price of Bitcoin to fall, there is no relationship between pornhub accepting Bitcoin and Litecoin
as payment, with the decline in the price of Bitcoin. I just see this incident as a coincidence, I believe the decline in Bitcoin is likely
caused some whales are starting to take profit now.

Pornhub may be the most popular adult site right now but I don't think it is that big that it could make bitcoin price dive like this, not a chance. I think it is just a coincidence like what happened when price fell down in normal dumps. Did Pornhub also released an exchange? A trading plaform? because if they did, then we can say that it can affect the price.

Banks don't have any sort of vendetta against adult industry, and there can be other reasons why they close accounts, like suspected money laundering - it can look suspicious to a bank that a customers receives hundreds of transactions from different people without having any sort of legal business.

And then, why would traders dump Bitcoin because of such insignificant and not really negative news? Like, people talked how banks or governments are going to kill Bitcoin for years, and it never happened, do you really thing that porn industry will be a reason if they'll decide to fight Bitcoin? Not the darknet markets, for example?

I'm not surprised that pornhub added BTC because they have added stablecoin long ago and by adding bitcoin they will gain more traffic.

Cryptocurrency is the best fit for porn and others online services where people need their privacy to be keep private. Besides, if alot of the site users dont request for Bitcoin I'm sure they wint have added it to their payment system.

Or a hostile country where porn is illegal inspects your bank account.

---

Generally, companies and online stores beginning to accept bitcoin does not correlate with price movements, unless said store is actually an exchange!

Also, what took them so long to add BTC as a payment option that made them decide to integrate all those useless altcoins first, they know there is not a market for people holding those cryptocurrencies.

One after another porn sites are allowing their users to pay via cryptocurrency. They might find that the users are lot more comfortable paying anonymously with the cryptocurrencies. That will be a good boost for the crypto. The pron industry is huge and as people will find an anonymous way of payment via crypto currencies they will also lean how easy to use BTC. They might get interested in the cryptocoins too.

Could have been something else, coz this was suppose to boost the price of bitcoin knowing that there are people who will buy bitcoin and litecoin for anonymity of their buy in pornhub. The huge dump we saw are just probably whales taking their money off to spend. People who pulls out their bitcoin after the hype of some projects could be a reason too, since bitcoin was just staying for quite long time in that range, people could have been bored and try these new waste projects.

I am also thinking about that.
I might have seen it once somewhere but I can't remember where. Months or maybe a year ago IIRC.
(don't want to dig or I will get a beating from my wife when she look at search history.)  
That is why this news ain't so new to me anymore.

Anyway, I doubt that huge amount of dump just came from this.
It must be something else.

Porn is one of the most revenue making market in this world but not much people aware of it because they feel videos are available for free but the premium videos can be accessed only after buying the subscription and we never know the private life of any individuals and how much they are willing to spend to access such contents.But dumping the cryptos by porn stars really can affect the market? because they are not even making 1% revenue, only the creators are enjoying all the cash flow.

It is ridiculous and illogical to even link the crash in exchange rates to the acceptance of Bitcoin payments by PornHub. I am sure that more than 90% of the Bitcoin users haven't even heard about this news. PornHub is not a major online enterprise like Amazon or Ebay, to influence the exchange rates of Bitcoin. As far as I know, their annual revenue is less than $1 billion (for comparison, the same figure for Apple is close to $300 billion).

They have been involved in the crypto space for a long long time already, they just didn't declared it. Porn is something crypto is great at, you do not have to give any of your personal information, just register with one mail and a password and pay via crypto and you are totally anon while having the world at your feet. So, that is why it always made sense, places like chaturbate and all that gave people tokens for bitcoin as well, it has been a thing for a long time.

As you might imagine it has been used a lot more than dollar for many people because it is private and nobody knows who you are. Obviously that is not the only reason because you could totally get a lot less fee for them as well and make it fast but also marketing purposes as well, you wouldn't want it to be known would you?

How would the causation work in your mind here? A new website is taking crypto and the price declines. How are the two related? No, there is no cause here. These two events are not related. Further, there’s no correlation here either. For a correlation to exist, there needs to be multiple data points showing a trend. This is 1 data point. At best you can call this a coincidence.

The porn market is a lot smaller than any other industry and pornhub is just one of them.
Based on the chart pattern bitcoin is moving to a price where whales can take profit so they will sell them to reap what they spend. After the sale is complete, they will continue to wait until they can buy back at a better price. One seller in every buyer will sell, and to a safe degree, all will sell. That is the reason they keep bitcoin from going into the higher price range. News is just the motivating factor, I see the price of bitcoin go purely, news person.

This is the thing people tend to ignore, if websites strat accept bitcoins it doesn't mean that users are also paying with it.
If that would be the case we would have seen a bigger impact when LiveJasmin started doing this, as we're talking about a website where spending money is the key,  same for chaturbate. They both offer BTC payments, but the question is, do user pay via BTC?

Or the case of overstock:

Then set up a shop selling chastity belts with bitcoin payments only, to cleanse the reputation.

Of course, I understand your indignation, but nevertheless, many cryptocurrency users invest in projects that preserve their anonymity and confidentiality. Of course, one of the most important reasons for such investments is freedom and independence, which will not be violated by the state and various state structures. The same situation, in my opinion, is developing with users who want to remain anonymous when using Pornhub content and therefore pay for viewing the content not with credit cards, but with cryptocurrencies, which will make it possible to visit the resource incognito.

Will this affect the status of cryptocurrencies as a marginal sphere? Think about it-there used to be a General opinion that cryptocurrencies are only needed for black markets. Now what? "PornHub supports payment in BTC" - if I didn't understand this, I would be even more convinced that the crypto world is some kind of marginality and nothing more.
Not very good news as for me which does more reputational harm than good.

It was said and on the news before that they have already accepted Verge, an altcoin, another cryptocurrency. But that acceptance doesn't seem to gain demand through them.

And to correlate the crash with this news, I also don't think that there's any relation to it.

I don't see why Pornhub accepting crypto caused the market to just crash and stay where it is currently. There are a lot of possible reasons that one can connect to the recent drop that bitcoin saw, but pointing fingers at one adult entertainment platform that caused this is just not going to cut it. Most cam chat service were accepting crypto even years before, and there were no reasonable decline whatsoever that bitcoin saw during those days. Personally, one huge platform accepting bitcoin is already a good thing, though some people might be uneasy about 'porn' but heck, it's 2020.


Idk why I laugh harder on this than I should have

This is definitely good news for Bitcoin users. But at the same time, I am worried about the long-term viability. Bitcoin fees is so high, and for making a payment of $19.99 or $29.99, you need to pay somewhere between $3-5 in transaction fee. Pornhub may face issues while converting the Bitcoin to fiat currency. And high transaction fee is one of the reasons why ventures such as Steam and Stripe dumped Bitcoin as a payment method after initially approving it.

Personally, I think this news has nothing to do with the current drop in the price of BTC - there are still some other things, and above all the stock market that has suddenly sunk.

Given the size of the porn industry, some will say that it is good that BTC has become a means of payment on PornHub - but that does not mean that users will start paying en masse that way. The reasons are different, but surely someone who has never had contact with BTC must first learn how to buy it, then how to transfer it to the service in question. All of this can be very complicated for most, and ultimately more expensive if all the fees to be paid are taken into account.

However, I believe that the BTC/LTC option will be a good way to protect privacy for those who know how to use it - although I have never had an account on such sites and I do not know what information should be given when registering and buying premium accounts.

Isn't it a good thing for bitcoin adoption in some other platforms online?

Porn industry is really popular nowadays due to the fact that people are exploring it and most of them are watching it. Let's be honest, almost everyday in the world, there are people who are accessing it. If bitcoin can be used to it and bitcoin can be adopted in this way, it is more likely that this cryptocurrency have a lot more to explore with.

You are right, few months after adding XVG, pornhub started accepting Tron and Zcash too. Since Mindgeek controls a lot of other similar websites and its probably the leader on the market, it was kinda big deal for those altcoins.
Dunno, I always thought that crypto and adult industry go well together, so I'm glad to hear that BTC is now accepted as well.


They did accept altcoins only, up until few days ago when they added BTC as one of the payment options

https://news.bitcoin.com/pornhub-accepts-bitcoin-top-adult-site-cryptocurrency-payment/

We all know that banks invest the money that comes into their system, what we need to know is where do they invest? I don't think the majority of banks don't like crypto.

I think whales are starting to cash out as well, probably they would need it for something or preparation. Maybe there's something behind the works that we might not know about until it happens. It's not new and these DeFi projects are a new hype IMO and it's going down now.

I think they are accepting an altcoin and not BTC directly. I'm not sure though. Found this article from 2018

https://www.coindesk.com/pornhub-adds-crypto-payment-option-verge-token

That's not a good way of using a credit card, you still going to pay it and if you missed payment it will incur interest and will give you bad credits, there's a lot benefits in using Cryptocurrency in porn sites one of the biggest is of course anonymity, there are countries that are discreet when it comes to porn sites  and I don't want my credit company to know that I'm into porn, although I am not.

Actually adult websites are the best candidates to use crypto. I therefore find such initiatives to be beneficial for all of us, because even more people will accept crypto as a means of payment

not quite sure but i think they also accepts tron as before too actually not just pornhub but some known several sites too i forgot the names. i do agree with your opinion i really don't think the recent BTC price down has nothing to do with this.

Porhnub started accepting XVG back in  mid 2018 as a  part of partnership  deal between Verge and Mindgeek (company behind Porhnub and some other popular porn sites like Brazzers and Redtube) so maybe that's what make you think they accepted BTC before as from what I can recall it was kinda big news.

Regarding the question, I don't think that Porhnub accepting BTC now has to do anything with recent BTC price going down. It was kinda expected to get some small correction before we go up again, just people taking the profits, nothing else imho.

I can watch good videos without buying a premium account, still that might help in a way.

Still, I agree that I don't think we need to use Bitcoin in paying these premium accounts. I mean some of the people I knew are thinking that they will be buying some of my bitcoin to pay for their account, they can do it directly, and I don't understand why will they still go such lengths since they would just pay for the anonimity of their transaction which I don't think Pornhub is publicizing.



LOL!

I don't watch porn(even free porn) and would never pay for porn,but I respect every company that decides to give Bitcoin a try.The Adult industry is a giant untapped market for the crypto world and it makes me wonder why Bitcoin still hasn't conquered the online adult industry.There's must be a reason.Maybe BTC is not as user friendly as the traditional payment methods,or maybe people are scared by the BTC price volatility.
Anyway,I hope that other big Adult Brands will start accepting BTC payments.

Until your mom sees the charge on her credit card.

This might be a case of post hoc ergo propter hoc fallacy. It does not mean that since PornHub's decision comes prior to the fall of Bitcoin's price, it must have caused it. I cannot see any hint of causality between PornHub's decision to finally accept Bitcoin and Litecoin to BTC's price decline. This decline doesn't seem to have anything to do with it.

Neither is this related in any way to certain banks' closure of hundreds of accounts of porn stars. If at all, this would have even encouraged porn stars to shift to Bitcoin and other accepted altcoins, which would have instead caused their prices to rise, which is obviously an opposite direction to what BTC and almost all altcoins have taken.

Yeah, that's the part I don't get about that theory, that the banks crashed the price of bitcoin.  I don't see any reason for them to do that, nor do I think there's an easy way for them to manipulate the market that drastically without putting their own money at high risk.

So no, in this case I don't think the correlation is indicative of causation.  My guess as to why bitcoin fell a couple thousand dollars is that traders who made a profit from the price rise cashed out en mass.  I mean, come on.  We've seen these kinds of price movements many times before, and usually there's no obvious cause.

Also, I could swear Pornhub already accepted bitcoin.  Maybe it was some other porn service--my memory of such things isn't all that sharp since I detest pornography.

Bitcoin is a bad fit for porn... Credit cards work WAY better.

At least from what I saw during my time involved with the Webcam Industry.

People would MUCH rather give away money they haven't earned yet vs give away something they already paid for.

So those who dumped on BTC have something to do with the porn industry? Maybe they don't want to get involved with currency with porn? Or since there are a lot of payors using BTC and then PornHub started dumping everything at market price it caused the crash?

I think it would be easier for the people who buy the services for privacy concerns but harder for the pornstars with their salary. Maybe they should just learn how to use BTC. Maybe it could spark greater interest with crypto by the watchers.

I've heard that news a long time ago and when everytime I hear about Chase Bank the first thing that comes to my mind is this bank is "anti-porn". I don't know but they seem to have thought that adult industry is a shady business lol.
Well, I guess accepting Bitcoin is such a good initiative and might become the 1st step to completely avoid the banking system (though it sounds impossible, but who knows.)

That's possible. But I don't think there's a correlation between this and the current Bitcoin price today.

....



Pornhub announced support for bitcoin and litecoin on september 1st. A large downtrend in BTC price followed shortly thereafter.

Does correlation equate to causation in this case. From past history we know banks closed accounts of hundreds of porn stars for no apparent reason:


With banks becoming more crypto currency integrated, it could naturally follow they would temporarily crash the price of bitcoin, for whatever reasons they've often decided to make life harder for pornstars and adult entertainers in the past.