Pornhub Might Have To Push Bitcoin Adoption

Pornhub Might Have To Push Bitcoin Adoption

Is Pornhub about to go all in on Bitcoin? If payment giants Mastercard and VISA have anything to do with it, the world’s biggest adult entertainment platform will have no other option.

Both payment giants announced a ban for anyone using their credit and debit cards on the adult video sharing site, on 10 December.

If the ban remains, Pornhub might have to explore its Bitcoin payment option further.

Any Pornhub member new to Bitcoin should know that you can buy Bitcoin anonymously, but using it for illegal activities is likely to get you in trouble.

Mastercard and VISA Ban Pornhub Payments

According to a statement, Mastercard say after investigating allegations they found violations of prohibiting unlawful content found on Pornhub, and they ‘instructed the financial institutions that connect the site to our network to terminate acceptance.’

Mastercard said it’s continuing to investigate potential illegal content on other websites. VISA, which is conducting its own investigation, said that it is ‘suspending Pornhub’s acceptance privileges pending the completion of our ongoing investigation.’

The allegation was first made by a New York Times columnist Nicholas Kristof, who claims the Pornhub platform hosts rape scenes, revenge pornography and other examples of explicit video taken without consent of the participants.

‘Pornhub is infested with rape videos,’ claims Kristof. ‘It monetizes child rapes, revenge pornography, spy cam videos of women showering, racist and misogynist content, and footage of women being asphyxiated in plastic bags.’

A statement from the world’s biggest adult video sharing site said Mastercard’s and VISA’s moves were ‘exceptionally disappointing and crushing for the hundreds of thousands of models who rely on our platform for their livelihoods.’

The adult entertainment site this week banned unverified users from uploading content to its site and removed the ability for users to download content except for paid downloads within the company’s so-called Model Program.

Payment Giants Pushing Pornhub Towards Bitcoin

Both VISA and Mastercard have followed PayPal who cut off Pornhub’s payment channel in November 2019, affecting the lives of over 100,000 models who rely on Pornhub for income.

This led Pornhub to expand its cryptocurrency payment options. The adult sex video sharing platform first started accepting cryptocurrency payments in April 2018 with privacy-focused Verge (XVG). It was a surprise because XVG is an unknown altcoin that pretty much nobody owned.

Then after PayPal’s ban Pornhub was forced to look into expanding its cryptocurrency acceptance. In January 2020, the adult entertainment site added USDT as a payment option, and then in September the leading adult entertainment site finally added Bitcoin payments for its Premium Service.

Pornhub Will Help Bitcoin Adoption

With Mastercard, VISA and PayPal all banning payments to Pornhub, the adult entertainment giant has to expand its Bitcoin payment service. This will help speed up Bitcoin adoption no end.

If the NY Times allegations are true, obviously it isn’t good PR for Bitcoin, but if a platform like Pornhub plugs into Bitcoin and accepts payments, then they are immutable.

What’s more, Pornhub’s models are the ones losing most by having their lifeline cut off. So payment in Bitcoin, USDT or even XVG is critical for them.

Of course, the sex industry isn’t something many are comfortable with, but these models make a good living from Pornhub. And as long as they have chosen the sex industry as their career path, then they should be able to make a living.

Porn is the oldest industry, and Pornhub is one of the busiest platforms in the world, and with Bitcoin giving its models a lifeline, it can only help adoption of Bitcoin as a peer-to-peer currency.

Author: Tommy Limpitlaw

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Bitcoin FAQs

How can I buy Bitcoin in Australia?

There are many reputable Bitcoin exchanges operating in Australia. However, the most recommended exchanges are Kraken or Blockfi. Or you can buy Bitcoin from Bitcoin marketplaces, such as LocalBitcoins or 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.

Can you buy less than 1 Bitcoin?

Yes. Every Bitcoin can broken down into 100 million bits. They are known as satoshis, after the pseudonymous creator Satoshi Nakamoto. And some companies will let you buy as little as $1 worth of Bitcoin, which at time of writing is worth about 11,000 satoshis. There are many companies that have a system for dollar cost averaging (DCA). This is a great way to buy Bitcoin, and is known in the space as ‘Stacking Sats’. Basically, what you do is set up small automatic, recurring payments to buy Bitcoin (or sats), and you DCA over time.

Why should I buy Bitcoin?

People who understand Bitcoin buy Bitcoin because it is a peer-to-peer money that nobody can manipulate. It’s all set in the Bitcoin codebase which is secured by hundreds of thousands of computers all around the world. Bitcoins can be sent by anybody and no third party is need to verify the transactions, and nobody can stop Bitcoins being sent. There are many more reasons why people buy Bitcoin, and a deeper dive before doing so is recommended.

How can I earn free Bitcoin?

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 where you shoot your way to Bitcoin riches. Or there’s Carrot – a platform where you can earn free Bitcoin for doing tasks. Or you can save your Bitcoin in an interest bearing account and earn some Bitcoin interest. Be careful with interest bearing accounts, and only go with legitimate companies, though. I recommend Blockfi, you can read the review here.