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I've suspected that the next place cryptocurrencies will see usage for actual consumer payments will be porn. It makes so much more sense than going through the
by ChadNauseam 4y ago
I've suspected that the next place cryptocurrencies will see usage for actual consumer payments will be porn. It makes so much more sense than going through the suffocating mastercard/visa networks, and porn has historically been one of the industries most willing to try new technology.
- matt321 4y agoAre you saying nobody should be regulating it?
- darawk 4y agoSomeone should. That someone should not be Visa and Mastercard.
- bell-cot 4y agoThe largest problem may be that doing the actual day-to-day work of regulation (vs. posturing, politicing, and passing poorly-written laws) is a [cough] pretty undesirable job.
- ohCh6zos 4y agoA de-facto outsourcing of regulatory enforcement could be less desirable than explicit regulation.
- mrmanner 4y agoIt could be, but it’s not necessarily so. It’s safer to circumvent Mastercard regulation than government, for better and worse.
- Scoundreller 4y agoI wonder if the US Supreme Court might revisit that too
- ChadNauseam 4y agoThat's not what I'm saying. I'd just rather it be regulated by our democratic institutions rather than by unaccountable payment providers.
- zakki 4y agoIsn’t the democracy happening now? The majority of people had chosen the institution that create a law that is followed by VISA and Mastercard.
- terminalcommand 4y agoAFAIK, pr0nhub currently only accepts crypto payment.
- thakoppno 4y agois the price denominated in dollars, like how does the bitcoin price fluctuation get handled?
- hellojesus 4y agoUsually the seller takes on short-term price fluctuation risk. Buyer initiates purchase, and the seller gives them a window of x minutes to send y btc to an address, where the price of the service is denominated in btc as of the trading price at that moment. If at least 1 transaction doesn't show up on the btc network in the x minutes, that transaction times out. If at least 1 does, then the seller waits for w confirmations to take place before the payment is recognized as valid, where w is set to their tolerance. I've seen as low as 3 and as high as 7.
- moneywoes 4y agoAt times that bad with the lightning network?
- dboreham 4y agoThere's a thing called a stablecoin :)
- Nextgrid 4y agoIs there really enough motivation for paying for porn? There’s so much of it out there for free.
- pastacacioepepe 4y agoJust check the most famous adult content websites' revenue...
- Nextgrid 4y agoSurely that’s based on ads though?
- pastacacioepepe 4y agoNah, AFAIK ads pay very little for adult content websites, most websites now have a subscription based model and the possibility to buy additional content once subscribed.
- NineStarPoint 4y agoAs I understand it Mindgeek (Pornhub) makes about half their money from ads, but they are easily the largest advertiser in the industry. It seems likely that subscriptions/purchases still represent the majority of porn income.
- Stevvo 4y agoA lot of people pay on OnlyFans, so depending on the value proposition, yes, people are motivated to pay for porn.
- Noumenon72 4y agoAnd if you're motivated to pay for porn, but not to give a site your driver's license like OnlyFans requires, crypto actually would be better for that.
- cbozeman 4y ago
- meirelles 4y agoI think their business model is like a gym - they need people making an effort to cancel, not to renew... Crypto works for one-time payments, but it sucks for recurring transactions. Too much hassle to pay every month, people would just give up.
- ChadNauseam 4y agoThat's a good point. I think other business models are possible, though, if less lucrative. One example is one-time payments to buy videos, or to tip an artist that you for some reason feel like tipping.
- beachy 4y agoIt's a good point but worth noting that the Mullvad VPN (which, like porn, has a strong driver for privacy) recently got rid of susbscription payments altogther. Their reasoning was that you can't handle recurring payments without holding a lot of personal data. Perhaps porn sites that want to offer inter-species furry porn should bite the bullet and only accept one-off payments, just so they can make effective use of crypto.
- Pakdef 4y agoRecurring payments should be initiated on the client side (or at your bank) anyways... Not initiated by the business you are buying from... That's a good way to get screwed.
- Hellbanevil 4y ago
- Stevvo 4y agoI can sign 12 transactions with my private key now and automate sending them out every month. If I don't want to be responsible for sending the transactions, a smart contract can do it for me. This can be abstracted away from the user and made as intuitive as any other payment flow.
- aranchelk 4y ago
- racl101 4y agoWho even pays for it these days?
- sedev 4y agoThis would be a great time to reread the classic "Better Than Free" essay. https://kk.org/thetechnium/better-than-fre/ https://kk.org/thetechnium/better-than-fre/ By my count, the average OnlyFans account absolutely nails 5 out of the 8 "generative" qualities that Kelly identifies.
- ALittleLight 4y agoI think that's probably true. Cryptocurrency has use cases in paying for drugs or illegal gambling. It will likely also have uses in paying for child pornography and other illegal forms of pornography. As usual, this is bad.
- woodruffw 4y agoThis is maybe a tangent, but: how long before we're allowed to stop calling cryptocurrencies a new technology, and admit that actual usage is not being blocked on early development? Bitcoin itself is 14 years old; if it were a web framework, it would have been "obsoleted" half a dozen times over by now.
- zamalek 4y agoNow that the Year of the Linux Desktop might happen for real, I guess we need a new "Year of the X."
- gleenn 4y agoWhat you're saying clearly makes sense but Bitcoin isn't accepted almost anywhere which is what "new" means. Porn would be an early adopter for potentially mass consumption. It would be new to me certainly as I've never purchased a single thing with Bitcoin and that's almost certainly true for most people.
- woodruffw 4y agoI don't know. I passed a bitcoin ATM machine (don't ask me what that actually means, please) on the street yesterday. Friends and family members, including (especially?) non-technical ones, have asked me about Bitcoin and how to invest in it. One of my friends recently bought a car with Ethereum. "New" means "new," it doesn't mean "not widely adopted yet." We don't widely adopt things that fail or have unacceptable side effects; that doesn't make them new again.
- amelius 4y agoNot sure. People watch pr0n on their Oculus Quest all the time, fully aware that Meta is watching them watch ...
- mrkramer 4y agoSatoshi about porn: https://bitcointalk.org/index.php?topic=671.msg13844#msg13844 https://bitcointalk.org/index.php?topic=671.msg13844#msg1384...
- deleted 4y ago[deleted]
- rodgerd 4y ago> I've suspected that the next place cryptocurrencies will see usage for actual consumer payments will be porn. If cryptocurrencies were useful for this problem, they'd have been adopted already. It's an sector whose businesses and workers are very savvy about anything that helps them evade repression.
- jjtheblunt 4y ago> the next place is there a current place they're commonly used ?
- toyg 4y agoI know of at least one sex-related forum that now supposedly requires btc to join. (This said, the related statement on the homepage mentions an absurdly high amount, probably set years ago and promptly forgotten...)
- Melting_Harps 4y ago> I've suspected that the next place cryptocurrencies will see usage for actual consumer payments will be porn. It's been done, to various levels of success; it has it's humble beginnings with cam girls via BTC (look up Girls gone Bitcoin), and then as alts got traction post 2017 things like CUM (Cryptographic Ultra Money) [0] try to make headway but failed miserably as most alts usually do. After Onlyfans threatened to take down all the adult content it had a real chance of making itself a MVP in this ecosystem, unfortunately these projects live and die based on short-term price swings and as you can see the value has made it essentially unfavorable for anyone but pump and dumpers. I'd argue that BTC can and has shown more promise for sex workers, I've gone into detail about my first hand experience when in the early stage of my startup I interacted with the 'ladies of backpage' when Visa and MC shutoff access to purchasing ads on Backpage on here before. I just think that sex workers have enough on their plates that it shouldn't be this hard to just to solve something so trivial which many pay for, espcially if either Visa or MC want to be puritanical it. 0: https://coinmarketcap.com/currencies/cumrocket/ https://coinmarketcap.com/currencies/cumrocket/
- dvngnt_ 4y agocumrocket