Regions

Can Porn help the Bitcoin economy succeed?

Close
January 17
7:33 AM 2014

David Kay, marketing director at Porn.com's parent firm Sagan Ltd said porn could be the game-changer that could help the alternative online currency Bitcoin succeed, according to The Guardian. The news firm cited Kay saying Bitcoin provides both privacy and anonymity, wrote GMA News.

Kay added: "I definitely believe that porn will be bitcoin's killer app. Fast, private and confidential payments. I think the general public as a whole doesn't yet know that you can spend just a portion of a bitcoin on a purchase. Our customers are using bitcoins to buy premium services and to tip our live performers."

The Guardian said Porn.com's sales increased by almost a quarter since it embraced bitcoin as payment. The company's owners have put up the domain for sale for $50 million worth of bitcoin. The UK newspaper also said the porn company started accepting bitcoin in December, and BTC quickly made up 10% of its total sales, In early January, the sales of the said site spiked with 50% accounted for by the online currency, the report detailed.

However, the Guardian reports recurring payments cannot be set up using the currency, the report added.

The Guardian said porn industry has been one of the important factors that help consumer technologies take off, GMA News reported.

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics