PornHub now accepts Bitcoin and Litecoin (News coincides with BTC decline?)

[bits4books]

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.

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[Arkann]

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.

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.

[stompix]

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.

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:

While Bitcoin accounts for less than one quarter of one percent of Overstock.com's online payments, depending on day-to-day fluctuation, the company continues to see it as an important part of its retail strategy.

As for the decline of price and pornhub, lol, even the thought that there might be something related is hilarious!

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.

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

[noorammak]

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.

[jaysabi]

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.

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.

[bitgolden]

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?

[bryant.coleman]

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.

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).

[jrrsparkles]

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.

[Reid]

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.

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.

[Twentyonepaylots]

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

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.

[suvo05]

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.

[NotATether]

Credit cards work WAY better.

Until your mom sees the charge on her credit card.

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.

[suzanne5223]

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

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.

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.

[hatshepsut93]

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.

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?

[FlightyPouch]

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.

[MCobian]

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.

[Wexnident]

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.

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:

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.

[Reatim]

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.

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.

[raidarksword]

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.

[erikoy]

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.