5 ms·
Perhaps the killer app for cryptocurrency will be paid porn? Might be a stretch, but it's hard content to moderate and the demand for it is huge.
by lucasyvas 6y ago
Perhaps the killer app for cryptocurrency will be paid porn? Might be a stretch, but it's hard content to moderate and the demand for it is huge.
- CryptoPunk 6y agoThe first killer app is already here: decentralized exchange. The highest volume DEX, Uniswap, had trading volumes that rivaled those of the largest crypto exchanges, like Coinbase Pro and Kraken, over the summer. It provides a user experience that in many cases is superior to that provided by traditional exchanges, with nothing more than a MetaMask extension on the browser needed to trade Ethereum-based crypto assets, and with no requirement to hand over custody to a trusted third party.
- omarchowdhury 6y agoHow much of that is wash trading?
- CryptoPunk 6y agoEach Uniswap trade on Ethereum costs several dollars in gas fees, so I'm guessing almost none of it is wash trading, as opposed to traditional exchanges where wash trading can be financially viable.
- dredmorbius 6y agoI'm sure an opaque nonreversable transaction, and nonmodifiable permanent globally-readable transaction ledger will fit that application perfectly, against LEO, blackmail, and fraudsters. </s>
- totony 6y agoThere are more cryptocurrencies than bitcoin
- im3w1l 6y agoWould you mind stating your point plainly? Because I don't get what you are trying to say
- crowf 6y agoop is saying that cryprocurrency will allow shady sites to receive payment and not provide a service with no ability to perform a charge back, and that the payment record will be public and _can_ be traced back to the buyer
- im3w1l 6y agoI see it as fairly unlikely that a website as reputable as Pornhub would pull something like that. But if they do, there is always law enforcement.
- crowf 6y agono need to disagree with me with the content of op's comment. I was just explaining. although just to comment on your point, it is much easier to get a charge back from a cc company than to sue a company.
- im3w1l 6y agoSorry, but I must reject any rules of debate that allows someone to state a point without anyone allowed to reply to it. If you don't hold the opinions yourself that's fine by me, I will still reply. I agree that it is easier, and consumers prefer this if they have a choice. But now that they don't have a choice anymore, I think it will turn out that it's not a dealbreaker and they will put up with marginally less safety. The bigger question is if people can be bothered to acquire bitcoin for the purpose of paying pornhub. It may be annoying enough that would-be customers turn to piracy.
- dredmorbius 6y agoMisappropriation might come from sites, content producers, talent, consumers, or any entity capable of interposing themselves between two or more parties, legitimately or otherwise.
- gogopuppygogo 6y agoI’ve been convinced for years that the only real use case for crypto currencies is privacy centric transactions. Meanwhile Bitcoin is now talked about everywhere mainstream so people keep buying Bitcoin as a speculative investment and at the same time Monero barely gets any press coverage.
- dredmorbius 6y agoBypassing currency controls should be high up there.
- Anon1096 6y agoWell at least on the first point, nonreversible transactions are extremely desired in the porn market. A constant uphill battle for payment processing is that people spending money on porn sites often have "regret" (or, less charitably, they chargeback when their spouse finds out). I believe this is the reasoning for Stripe not taking adult stores as customers. While it isn't consumer friendly to get rid of chargebacks, it's something that would help out these sites a lot.
- neilsense 6y agoDid you read something on crypto about 10 years ago and then stop reading? Strange decision to vocalise that fact on HN.