For Sex Industry, Bitcoin Steps In Where Credit Cards Fear To Tread

[langedwig]

Across the country, law enforcement is cracking down on sex trafficking of minors by going after online escort ads.
Five years ago, Craigslist was pressured to shut down its adult-services forum. The new target is Backpage.com — Visa and MasterCard stopped processing transactions with Backpage this summer.
Some in the sex industry are getting around that by using the virtual currency bitcoin. That's the latest adaptation by an industry used to getting creative to avoid detection.
After making more than 800 arrests off Backpage since 2009, Cook County Illinois Sheriff Tom Dart called a news conference to announce a victory this summer.
"We want to commend both Visa and MasterCard for their civic responsibility, for so quickly acting when we talked to them. American Express has already done that. They've now been narrowed down to where there's very little options for people who want to work with that website," Dart said.
Read more: http://www.npr.org/sections/alltechconsidered/2015/12/15/456786212/for-sex-industry-bitcoin-steps-in-where-credit-cards-fear-to-tread

[mexicantarget]

Bitcoin is the first implementation of the solution to the byzantine general's problem, (Byzantine fault tolerance) which is a long-standing computer science problem that will have all kinds of implications for computer networks going forward. Basically all networks will be redesigned in the future, especially those that move value around.

VISA and Mastercard can cry. Bitcoin is the thing which is changing internet payment and store of value.

[missmary]

Good and hopeful information langedwig. Thanks for share.

[Denker]

Sure Bitcoin has so much more advantages to be used in the sex industry compared to credit cards.
No charge back due to push mechanism, pseudonomity so that your wife, girlfriend will not know where you used your money for, lower fees, censorship resistance etc.

In a few years we will see Bitcoin overtaking a big chunk of the online porn industry.I'm pretty sure about that.

[mexicantarget]

Come on people, WTF. You're bumping a 2 months old topic.

[mtnsaa]

I'm not sure what's up but there has been like 3 or 4 of these threads lately, there must be people really trying hard to hype Bitcoin for the sex industry haha. As discussed on other threads there are tons of problems for sex workers like prostitutes and escorts but for porn I'm surprised it didn't catched on besides some cam girls accepting it...

[Kprawn]

Like we said before... we do not condone sex trafficking of minors, but there are other legit operators out there, who are trying to make a living and

Credit card companies are taking the food out of their mouths. The negative part of this is the bad actors drawn into Bitcoin use... those people who

deal in sex trafficking of minors. We do not need to be associate with that kind of thing... we should fight against it. 

[~Bitcoin~]

Come on people, WTF. You're bumping a 2 months old topic.

We are bumping this because this is very good news for bitcoin and for users who love bitcoin.