Despite enthusiasts' distancing the use of Bitcoin in illicit transactions, an article published on news.com.au noted an increase in speculators stripping in exchange for the virtual currency. According to the report, trading on Bitcoin has been linked to Stripcoin websites.

An introduction on Stripcoin, which was launched in 2012, read, "StripCoin.com is an instructional site that teaches adult entertainers how to use Bitcoin. Your earnings and tips go directly from your patrons to you. There are no usage or transaction fees. It's just like accepting cash from someone, except over the Internet."

As the first decentralized currency in the world, Bitcoin has attracted a lot of attention, in particular among trolls, internet gangsters, and users of porn as transaction using the virtual currency leaves no trail and does not involve banks. The Kernel reporter Jeremy Wilson, among others, said pornography has played a key role in the rise of new technology. The Australian news site also said in its report that popular social news and entertainment website Reddit had a hand in making Bitcoin a mainstream payment option for pornography.

Reddit subsections GirlsGoneBitcoin and GuysGoneBitcoin reportedly made it easier for anyone to flash their sensitive parts for a little of the virtual currency. Because of the ease of setting up an account, the proliferation of lashing an anonymouse photograph with a user's wallet's address, username and the date of posting on Reddit had sent the number of people succumbing to the sex trade online accelerated to an alarming rate, according to news.com.au.

Governments and central banks worldwide are split about the potential use of Bitcoin as a regulated currency. China and Norway are not interested in allowing the trade of the virtual currency, and each had launched measures that could decrease Bitcoin trading for speculators in their regions who wishes to cash in to the Bitcoin rally. Last week, European Union cautioned virtual currency to the dangers of Bitcoin, saying that it is not real money.