Images: Pixabay, Titcoin, Tittiecoin, Bigboobscoin From SpankChain to TittieCoin, over a dozen aptly-named digital coins are angling to turn your hard-gambled cryptocurrency into sex—in the form of dildos, escort services, and porn. Clearly, blockchain startups see an opportunity to cash in on the multi-billion-dollar adult industry.
The affair between the sex industry and cryptocurrency isn’t new. Porn has historically been ahead of the curve tech-wise, and this holds true for Bitcoin adoption.
Back in 2013, UK escort service VIP Passion started accepting Bitcoin payments. Two years later, sex workers started posting Twitter tutorials on how to use Bitcoin to pay for advertisements on Backpage.com when major credit cards pulled their services from the platform due to rampant sex trafficking.
Don’t Fuck Anybody Who Wants to Get Your Consent Uploaded to the Blockchain The technology also offers privacy and security for both sellers and customers. For an industry that values discretion, “privacy coins”—which boast features that hide a user’s identity even more thoroughly than Bitcoin—like Monero, Dash, and Zcash may come in handy for customers who feel shame making certain legal purchases or fear the consequences of making criminal ones, as penalties for hiring sex workers in the US can include fines as high as $25,000 along with prison time.
Then there are the dreaded fees that cam models pay. Webcam performers take home at most 70 percent of their earnings (usually less) after the site takes its cut, and blockchain-based companies are promising to change that by letting models take home 95 percent of their income. Read more from motherboard.vice.com…
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