Sexcoin Pro/Cons

[ijsaul]

As we all know, the adult industry led the adoption cycles for VHS/Betamax, Bluray/HD-DVD, and has pushed internet bandwidth further, faster.

Sex.com is #3 on the most expensive domain name transfers in history ($14 million, October 2010).

A "targeted" altcoin, specifically shopped, promoted, and integrated to that industry, could have major, major value.

I see it is taking the altcoin platform and tailoring it to an powerful partner, a very successful one.

Anonymity within that industry, can be a huge selling point.

Any other newby thoughts on this?

[culuuton]

SXC Sexcoin exploding

[ijsaul]

I went to be last night, after noting it had shown up on http://coinmarketcap.com/ @ $0.02, peaked today around ~$0.25.

That's roughly ~1400% over the course of 24 hours, and it isn't even on BTC-e.

Went from last place, to #13, in a day.  $5 Million in total valuation.

Damn.

[Whitesoulz]

Do you really think this would become big though?!

[ijsaul]

Yes.  I think building a mining app into the wallet is a great idea as well.

I think the adult industry is so close to being mainstream, and I haven't hear a peep out of them since bitcoin really blew up.

They could make headlines by adopting this, and they like fast money.

I'm backing it, I see value.

[Oldminer]

its orgasmic

[ijsaul]

How many newby posts do I need, before I can jump in other convos.

Jeebus.

[Whitesoulz]

I feel like too many ALt coins are coming out and.. bitcoin / ltc will be the only successful ones =/

[spacedv]

• So, what makes sexcoin more anonymous than bitcoin? I'd say it's the other way around; bitcoin can be used for many kinds of things, while sexcoin labels you as someone who pays for adult entertainment or sex.
• Having a separate coin for some market means that the coins will only circulate from exchange -> user -> service provider / vendor -> exchange, not from user to user or service provider / vendor to service provider / vendor, as bitcoins are ultimately meant to do. If, however, the coins circulate throughout the whole economy, then what was the point in having the sexcoins or gamecoins or whatever in the first place, and not just a generic currency-like coin?
• The supply and demand and therefore the price is entirely dependent on supply and demand of non-free adult entertainment, prostitutes(?), toys etc. That means it will be hell of a lot more volatile than a general purpose coin is going to be, because the price of the latter is dependent on many, many more things that aren't exactly causally related to each other. If you don't understand why, think about investing. The first rule in investing is to diversify across many different types of assets and many different markets, to decrease the variance of your portfolio's worth. So, why does it make sense for anyone to accept sexcoin as payment rather than bitcoins?
  

[stevenb]

I think Sexcoin will go mainstream just like BTC and LTC. Sex industries will adopt SXC as main payment method to avoid credit card processing fees and other things such as legal (Silkroad for eg.?)

SXC price will be skyhigh soon, definitely > 1$/sxc.

[PinkPotatos]

I think its name is its biggest enemy. While others say its an asset.

[coins101]

I think its name is its biggest enemy. While others say its an asset.

Agree.

Would you want your computer to have a wallet that is linked with porn?

[stevenb]

I think its name is its biggest enemy. While others say its an asset.

Agree.

Would you want your computer to have a wallet that is linked with porn?

Porn is everywhere, any adult didn't watch it? how much is sex industries, see Japanese AV profit per year.

Sex is legal. Not like Silkroad using BTC for illegal trading. So Sexcoin has much potential to be mainstream coin.

[spacedv]

I think its name is its biggest enemy. While others say its an asset.

Agree.

Would you want your computer to have a wallet that is linked with porn?

Porn is everywhere, any adult didn't watch it? how much is sex industries, see Japanese AV profit per year.

Sex is legal. Not like Silkroad using BTC for illegal trading. So Sexcoin has much potential to be mainstream coin.

Silkroad was taken down. Besides, any similar sites are going to use whatever cryptocoin that seems to be the most stable and established, as long as it's anonymous enough (or can be used and exchanged to $ anonymoysly enough). Porn sites will do the same. Businesses don't want to be screwed by volatility.

[CycleSurfer]

This a pump before the dump.  Just a btc/ltc clone with the sex label.  Zero added value.  A sucker's bet.  The porn industry isn't this dumb.

[Hazard]

Whoever is buying this shit deserves what's about to come.

[Whitesoulz]

Whoever is buying this shit deserves what's about to come.

Explain,  I am curious to know more.

[ijsaul]

All of the currencies are volatile, that's a given.  A 50% decrease in BTC over a few day period proves that.  Whether or not a vendor will trust an alt coin can't be based solely off that point, as all of them are subject to it.

With the myriad of other players in the marketplace, this is the only one I've seen with a dedicated target niche, and as I've pointed out, they've targeted a huge player.

The mainstream media barely pays attention to LTC, let alone any of the other versions, however, I can see them paying attention to this one, as Rule 34 states, if it exists, there is porn for it.  Now there is an alt coin for porn.  Even as a joke, it will draw attention.

The "bonus" system rewards dumb luck, but that kind of payout can entice a huge army of miners to jump on the currency, as it's not only readily mined, but everyone wants to get those winning blocks.

The inclusion of a miner in the wallet, is the first I've personally seen, and reduces the hurdle to installation adoption.

Will this prevent porn companies from adopting other coins?  No, there's no reason they would chose to avoid BTC/LTC, but if the implementers do their job right, they could provide the fire which drives adoption, and would therefore be strongly in the running as a competing currency.

[ijsaul]

"The supply and demand and therefore the price is entirely dependent on supply and demand of non-free adult entertainment, prostitutes(?), toys etc. That means it will be hell of a lot more volatile than a general purpose coin is going to be, because the price of the latter is dependent on many, many more things that aren't exactly causally related to each other. If you don't understand why, think about investing. The first rule in investing is to diversify across many different types of assets and many different markets, to decrease the variance of your portfolio's worth. So, why does it make sense for anyone to accept sexcoin as payment rather than bitcoins?"

This is a good point, but is even more so applicable to all other alt coins, which seem to continue to do well.  This one has at least one successful niche it's targeting, as opposed to just alternatives for the sake of alternatives.

[CheekyChappy]

its orgasmic