Largest Scale Adoption Seen To Date

[ObscurePen]

I don't know if people know about this (because it has been a while) but the world's largest pornographic company is now solely accepting cryptocurrency as its primary source of payment.

https://news.bitcoin.com/pornhubs-premium-services-crypto-payments-13-digital-assets-supported/

"Pornhub is leveraging the payment processor Probiller and the service supports bitcoin (BTC), bitcoin cash (BCH), dash (DASH), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), monero (XMR), nem (XEM), tether (USDT), tron (TRX), verge (XVG), waves (WAVES), and zcash (ZEC)." - Bitcoin.com

This move by Pornhub follows Mastercard and VISA cutting ties with the company earlier after allegations that the site allowed the widespread dispersal of videos that included child abuse and nonconsensual activity. These allegations were actually confirmed by an investigation by Mastercard and are being confirmed by a second investigation from VISA.

https://edition.cnn.com/2020/12/14/business/mastercard-visa-discover-pornhub/index.html#:~:text=%22Given%20the%20allegations%20of%20illegal,CNN%20Business%20in%20a%20statement.

"The use of our cards at Pornhub is being terminated. Our investigation over the past several days has confirmed violations of our standards prohibiting unlawful content on their site. As a result, and in accordance with our policies, we instructed the financial institutions that connect the site to our network to terminate acceptance." - Mastercard

What this mean for the site is that it cannot accept anything but crypto. In terms of adoption this is perhaps a first for crypto. Pornhub (apparently) is the 10th most viewed site on the internet.

BUT think about all those people who were hurt because of this illegal activity. I think Mastercard and VISA did the right thing to stand up for the truth and justice by cutting ties with the site, despite their financial losses. On a moral standpoint, crypto is not doing the right thing. It isn't supporting what is ethical.

Furthermore, I personally think that this isn't a good image for crypto as it shows that at its core, crypto has the capacity to support and fund illegal activity. This event has had sufficient coverage by media and the fact that crypto replaced the financial services of a site that distribut(es)/(ed) and foster(s)/(ed) illegal activity sends a global message about the true capacities of cryptocurrency. It shows that they are above the law and have enormous capacities for criminal use.

And for crypto to be majorly adopted first by a pornographic company, that itself sends a message about the moral/ethical values of crypto. Thus I think it becomes detrimental to some sense not having a third-party who can regulate this sort of stuff. Because Bitcoin has no overruling organisation to make decision about it, it has no sense of morals or ethics.

I'm not an anti-crypto activist or anything. I love a lot of things about Bitcoin. But I think this is a step in the wrong direction for crypto (despite the adoption benefits). What do people think about this?

[jackg]

It's bad for crypto but it's also what could've been done with cash.

I think it's up to governments and the legal system to deal with this sort of thing though as the same thing could've happened with cash or bank transfers(like cheques where it's possible to get someone else to cash it). Fundamentally, people live somewhere and have to answer to the legal systems they're in. It's going to be much better to get a site like PH banned by firewall from the country if it doesn't agree with that country's legal system). As long as it's not in a "grey" sector and is perfectly illegal then a country should be able to facilitate its ban or enforce against people accessing it.

[20kevin20]

So let me guess: the PH adopting crypto only is a "bad" thing for crypto because that makes us all implicitly supporters of illicit activity, right? Let me guess: next up, we have to expect "Bitcoin soars 9999% after PH adopts it as a payment method for sexually abusive videos" kind of headlines

As far as I know, there is no website out there that is allowed to show adult content with minors/non-consensual activity in it. Therefore, if PH has this issue, then they need to be closed. Simple as that. It was VISA and Mastercard's choice to cut ties with PH. That's either been done on purpose to destroy the image of cryptocurrencies or they just don't want to get in trouble - although I honestly suspect the former to be the case.

What lots of people don't get is that crypto is decentralized. It's not a movement crypto is taking and it's not something we or anyone else can control. It's something PH and VISA have decided to do, and cryptocurrencies aren't at fault for that. USD has been used for such crimes as well. I do not support crimes, but we have to be realistic here. The issue is allowing PH to exist as one of (if not the) most popular adult websites in the world while also having this kind of content. Disgusting.

[ObscurePen]

So let me guess: the PH adopting crypto only is a "bad" thing for crypto because that makes us all implicitly supporters of illicit activity, right? Let me guess: next up, we have to expect "Bitcoin soars 9999% after PH adopts it as a payment method for sexually abusive videos" kind of headlines

As far as I know, there is no website out there that is allowed to show adult content with minors/non-consensual activity in it. Therefore, if PH has this issue, then they need to be closed. Simple as that. It was VISA and Mastercard's choice to cut ties with PH. That's either been done on purpose to destroy the image of cryptocurrencies or they just don't want to get in trouble - although I honestly suspect the former to be the case.

What lots of people don't get is that crypto is decentralized. It's not a movement crypto is taking and it's not something we or anyone else can control. It's something PH and VISA have decided to do, and cryptocurrencies aren't at fault for that. USD has been used for such crimes as well. I do not support crimes, but we have to be realistic here. The issue is allowing PH to exist as one of (if not the) most popular adult websites in the world while also having this kind of content. Disgusting.

no crypto was never used as payment before. It was implemented as a result of visa and MasterCard leaving.

But yeah I agree with you. It is disgusting.

About the decentralised part: I think this aspect is what facilitates illegal activity. Like there is no government system to control it. It is above the law.

[0t3p0t]

I don't know if people know about this (because it has been a while) but the world's largest pornographic company is now solely accepting cryptocurrency as its primary source of payment.

https://news.bitcoin.com/pornhubs-premium-services-crypto-payments-13-digital-assets-supported/

"Pornhub is leveraging the payment processor Probiller and the service supports bitcoin (BTC), bitcoin cash (BCH), dash (DASH), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), monero (XMR), nem (XEM), tether (USDT), tron (TRX), verge (XVG), waves (WAVES), and zcash (ZEC)." - Bitcoin.com

This move by Pornhub follows Mastercard and VISA cutting ties with the company earlier after allegations that the site allowed the widespread dispersal of videos that included child abuse and nonconsensual activity. These allegations were actually confirmed by an investigation by Mastercard and are being confirmed by a second investigation from VISA.

https://edition.cnn.com/2020/12/14/business/mastercard-visa-discover-pornhub/index.html#:~:text=%22Given%20the%20allegations%20of%20illegal,CNN%20Business%20in%20a%20statement.

"The use of our cards at Pornhub is being terminated. Our investigation over the past several days has confirmed violations of our standards prohibiting unlawful content on their site. As a result, and in accordance with our policies, we instructed the financial institutions that connect the site to our network to terminate acceptance." - Mastercard

What this mean for the site is that it cannot accept anything but crypto. In terms of adoption this is perhaps a first for crypto. Pornhub (apparently) is the 10th most viewed site on the internet.

BUT think about all those people who were hurt because of this illegal activity. I think Mastercard and VISA did the right thing to stand up for the truth and justice by cutting ties with the site, despite their financial losses. On a moral standpoint, crypto is not doing the right thing. It isn't supporting what is ethical.

Furthermore, I personally think that this isn't a good image for crypto as it shows that at its core, crypto has the capacity to support and fund illegal activity. This event has had sufficient coverage by media and the fact that crypto replaced the financial services of a site that distribut(es)/(ed) and foster(s)/(ed) illegal activity sends a global message about the true capacities of cryptocurrency. It shows that they are above the law and have enormous capacities for criminal use.

And for crypto to be majorly adopted first by a pornographic company, that itself sends a message about the moral/ethical values of crypto. Thus I think it becomes detrimental to some sense not having a third-party who can regulate this sort of stuff. Because Bitcoin has no overruling organisation to make decision about it, it has no sense of morals or ethics.

I'm not an anti-crypto activist or anything. I love a lot of things about Bitcoin. But I think this is a step in the wrong direction for crypto (despite the adoption benefits). What do people think about this?

It is because cryptocurrency are decentralized and are more capable of doing such kind of transaction without the need to follow morality or ethics because it is just a new form of decentralized payment system. It depend on us on how we use Bitcoin whether in good or bad things. We humans watch porn not Bitcoin. So if the government really are serious about that porn thing why allow them to operate? Is it because of the bribe money they got from the site? Or are they afraid they can't track the sites revenue for tax? Governments makes things they cannot control illegal.

[jackg]

Or are they afraid they can't track the sites revenue for tax? Governments makes things they cannot control illegal.

Democratic governments should act:
    When they feel like they've lost control
    When they feel control is needed
    When they feel control would be not too difficult to implement (benefits of implantation v its cost and complexity).

A site like PH is much easier to take control of than bitcoin for example (of you reread the bottom part of your post, you can change the subject to bitcoin and it may still fit since governments can't control it well).

[Lorence.xD]

It's bad for crypto but it's also what could've been done with cash.

I think it's up to governments and the legal system to deal with this sort of thing though as the same thing could've happened with cash or bank transfers(like cheques where it's possible to get someone else to cash it). Fundamentally, people live somewhere and have to answer to the legal systems they're in. It's going to be much better to get a site like PH banned by firewall from the country if it doesn't agree with that country's legal system). As long as it's not in a "grey" sector and is perfectly illegal then a country should be able to facilitate its ban or enforce against people accessing it.

It is not bad for crypto to be honest, there are other similar sites that offer the same content but we did not bat an eye about it. It is just that PH is a big community of uploaders and viewers, the best course of action for PH is to heavily moderate the traffic and the videos that are being uploaded in their platform. I have to agree that legal sector should get involved with this type of cases because there are people out there getting shamed because they participated in a revenge porn. VISA and Mastercard's move are understandable because in a business perspective, if your connection is tainted with controversy, the best course of action is cutting ties with them.