Porn.com and Bitcoin

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December, 2013, the top adult site Porn.com (Alexa global rank — 835) started accepting Bitcoin for the membership. Although there are about 4.2 million websites with adult content, and accepting Bitcoin is quite common among them, the news about Porn.com quickly went the round of the Internet village. Was it good or bad? Let’s reflect upon it.

Porn Industry: How Big is the Fish?

According to stats, $3,0175.64 is spent on pornography every second. And every second, 28,258 people in average are viewing pornography. The fish called ‘porn industry’ is really big, growing and global. After all, it requires only Internet connection. Like Bitcoin does, doesn’t it?

And it seems that the anonymity feature of Bitcoin is incredibly suitable to the industry where you won’t freely share your identity details.

David Kay, the marketing director at Porn.com’s parent company Sagan Ltd:

“Privacy and confidentiality are paramount when joining an adult service for the majority. In general you can surf porn.com for free, anonymously but if you want to upgrade to the premium services you have to enter a method of payment which historically has been credit card. In order for the transaction to process you have to include your full name and address. This is not necessary with BTC.”

Some would argue that such reputation, combined with Silk Road story, is not as pleasant as it could be. Still, in terms of popularising Bitcoin, all means are good enough. And people won’t watch more porn due to the fact that adult websites start accepting Bitcoin. By the way, 12% of all websites in the web show porn.

Bitcoin Payment Processor of porn.com

No matter what business you possess, you have to choose the way to accept Bitcoins if you want to. Recently, we have published an overview with the top Bitcoin payment processors. As known, porn.com offered BitPay to process Bitcoin payments of their clients, however, it appeared that BitPay’s terms of use do not envisage working with the porn industry.

bitcoin-porn

All in all, if you come up with the final steps of paying for your premium membership with Bitcoin, it’s hard not to notice GoCoin’s logo right below the QR-code. Right, this is porn.com’s processor, allowing porn.com not only to accept Bitcoin, but also Litecoin and Dogecoin.

Bitcoin Story of porn.com

It’s been more than a year now since porn.com started accepting Bitcoin. Shortly after, Bitcoin made 10% of its sales. After /r/Bitcoin took the news viral, the indicator reached a record of 50%, slowing down to average 25% later.

More than a year has passed since that time, and Bitcoin price has faced multiple drops and rises throughout this period. Nevertheless, porn.com reports 5% of sales in Bitcoin remaining, which is really lower than the initial boom, though stable.

porn.com as the Bitcoin Killer App

A year ago, David Kay told the Guardian:

“I definitely believe that porn will be bitcoin’s killer app. Fast, private and confidential payments.”

A year ago, a Reddit user under the nickname twobitidiot has written:

“Bitcoin will be porn’s financial Viagra in 2014.”

Both were right and wrong at the same time. No Bitcoin killer app invented yet, and Bitcoin has not become the top payment method. But these two industries seem to support each other. They both have a smell of freedom: porn and Bitcoin.

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