Pornhub’s announcement that it was now accepting Bitcoin as a payment method for its premium content surprised nobody.
In fact, the only surprise is how long it took the world’s biggest adult entertainment platform to add Bitcoin as a payment option.
The adult industry is well-known for being at the forefront of new technological directions, it was arguably the key reason VHS won the war against Betamax in the 1980s.
And Pornhub expanding its payment options into the cryptosphere isn’t necessarily going to make Bitcoin the peer-to-peer money Satoshi visioned, but the news is much bigger than many believe.
Pornhub Adds Bitcoin as a Payment Option
The world’s biggest pornography platform Pornhub announced on 2 September that it will be accepting Bitcoin as payment for its Pornhub Premium Content.
The move shocked nobody, but as usual the market hasn’t reacted to the announcement. But is the news of little significance?
Pornhub isn’t new to cryptocurrency payments; it has been accepting Verge (XVG) since April 2018. However, the relatively unknown altcoin wasn’t really a viable option for most people, and was probably a paid promotional thing by the Verge team.
Bitcoin is by far the biggest cryptocurrency, and at time of writing, at over $190 billion, Bitcoin is over 56% of the entire cryptocurrency market cap.
And no doubt every Pornhub user and model has heard of Bitcoin.
Who Is Crazy Enough To Be The Pornhub Pizza Guy?
Is anyone likely to be the Pornhub Pizza Guy? Most Bitcoiners are hodling for a much bigger price appreciation, and if someone pays for some premium content now, it could turn out to be a very expensive purchase in years to come.
Back in 2010, the now infamous Bitcoin Pizza guy bought 2 pizzas for 10,000 BTC. Of course it was of little value back then, but that same 10,000 BTC is now worth over $104 million.
So is anyone crazy enough to become a potential Pornhub Pizza Guy?
The Bitcoiner nerd who hibernates in his mum’s garage is less likely to spend his Bitcoin on premium porn no matter what topping. No matter how many hours he divides his time between Pornhub and Coinmarketcap.
But as we know, Bitcoin is much bigger than the average nerd now.
Many married professionals are starting to get into Bitcoin, and the pseudonymity of Bitcoin is a much better masque than their credit card bill displaying Pornhub’s monthly invoice.
All of a sudden instant gratification blows the future price of a “Pornhub Pizza” out of the way.
Pornhub Models Will Be A Big Driver Of Bitcoin Adoption
Bitcoin payments for Pornhub premium content won’t likely be as popular as paying with fiat, at least for the foreseeable future.
What is likely to have a bigger impact, however, is the amount of models on Pornhub’s books now having naked exposure to Bitcoin.
Last year, popular payment app PayPal stopped payment support to Pornhub’s models, and made the rewards of over 100,000 sex entertainers much more awkward to secure.
PayPal is among many financial companies that prohibit sexual services in their terms and conditions, as the likes of Visa, Mastercard, JP Morgan, and Stripe, all giving sex workers the boot from their platforms.
Back then, Verge (XVG) picked up some of the slack, but as payment was minimal, the XVG/Pornhub economy wouldn’t have had much effect.
But with legacy finance companies doing their best to disrupt sex workers form of income, Bitcoin will step into XVG’s, PayPal’s and all the other dinosaur companies that are against models making some money.
Bitcoin is very accessible and liquid 24/7/365, and with a little bit of research and an Internet connection anybody can learn to use it.
And with Pornhub’s workforce growing in numbers every month, as they start to use Bitcoin, it will introduce many more newbs to the Bitcoin eco-system, who would probably not have thought about Bitcoin.
Bitcoin and Pornhub – A Perfect Procreation
With PayPal and banks making it hard for sex workers to make a living, Bitcoin’s brand and ease of use will now make it much easier for them to earn their income.
The sex industry is the oldest industry known to man. And with the advent of the Internet, it has grown exponentially into a multibillion-dollar industry.
Pornhub is the biggest adult entertainment platform, and with over 100,000 models on its books, the introduction of Bitcoin as a payment option will benefit both Pornhub and the Bitcoin eco-system.
And of course, Pornhub isn’t the only adult entertainment platform (I’m led to believe), so as the Pornhub professionals are seamlessly reimbursed for their work, other workers on other platforms will begin to demand payment in Bitcoin.
While most people are intending to hodl their Bitcoin, the relative secrecy of making BTC payments will drive the Pornhub and Bitcoin economy on, and ensure Bitcoin’s hard money status grows even harder.
Author: Tommy Limpitlaw
Bitcoin FAQs
How can I get free Bitcoins?
Nothing is really free, because even when you earn free Bitcoins you’re giving up your time, which is precious. But you can earn free Bitcoins. If you are a gamer, there are games like Bitcoin Bounty Hunt which allows you to shoot your way to Bitcoin riches. Or you can save your Bitcoin in an interest bearing account and earn some BTC interest. Be careful with these, and only go with legitimate companies, though.
What price will Bitcoin reach?
There have been many price predictions ranging from $0 to tens of million per Bitcoin. But the truth is, nobody knows for sure. However, it is the soundest and hardest money ever created. Many say it is digital gold, but I believe in the digital age, it is more useful than gold.
So, let’s say Bitcoin reaches the market cap of gold, which is believed to be $10 trillion, each Bitcoin would be worth $500,000. Is that reachable? Absolutely! Will it be plain sailing? Absolutely not!
How can I buy Bitcoin in Germany?
There are many reputable Bitcoin exchanges operating in Germany. However, the most recommended exchange is Kraken or CEX, or you can buy Bitcoin from Bitcoin marketplace, Paxful. All of these exchanges and marketplaces are global with high liquidity and excellent customer service. Feel free to read the reviews of each one.
How much does it cost to mine one Bitcoin?
There is no exact science for the cost of mining a bitcoin, because the price will change every two weeks maximum. This is because there’s a Difficulty Adjustment that ensures it takes about 10 minutes to mine a block. And with other costs, such as your mining equipment, electricity, and other costs, it’s estimated that the average price to mine a bitcoin is around $12,500.
A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.
