pull down to refresh

Porn industry, its crypto adoption, an untapped market for LN to break into.
283 sats \ 26 comments \ @KingZing 17 Jul 2022 bitcoin
Ever since the dark web starts to get more adoption from monero, I start looking at other niche markets.
Porn has always been that controversial sector that is probably much bigger than most of us aware. Like weed and other controversial sectors, they are constantly hammered by lobby groups and regulations.
Pornhub had their payment cut off by visa and mastercard in 2020 and deleted roughly 10 million videos just so they can have all content uploaders to be verified users. But even after doing all that, today they still do not have any fiat gateway and are relying on crypto payment for premium membership.
This website listed 32 porn sites that accept bitcoin but from what I can tell, they accept crypto payments and not exclusively bitcoin. Coindesk wrote an article on porn and bitcoin adoption, and doesn't look good so far. The fact that they are accepting any kind of crypto shows the porn platform is accepting it only to migrate the risk of getting payment cut off.
Nowadays porn content creators are becoming similar to podcasters, they build their image and their own fans following. They are already doing a lot of platform hopping, they stream games/ASMR on twitch/youtube, porn on others, interact with fans on twitter etc.
One of the biggest (if not the biggest) porn platform right now is onlyfans, and it is seeking over 1billion USD valuation.
To give an idea how much money is in that platform alone, the top 1 onlyfans star posted her earnings. Over $33M in less than a year on OF This is not counting her income from other platforms, like twitch etc (which also takes a cut)
Onlyfans takes 20% cut in the earnings, other platforms also take quite a cut.
Micro payments models are almost exactly the same as podcasts, pay-to-unlock or boost messages etc. I don't see why a porn platform build with LN cannot own a slice of this market, especially since the micropayment models are already existing, pay-to-unlock and boost for interaction etc.
write
preview
related posts
110 sats \ 0 replies \ @bosch 18 Jul 2022 freebie
I agree, bitcoin needs more grey market adoption before it gets to the white market stage
reply
111 sats \ 0 replies \ @mikhael 17 Jul 2022
Am I the only one... who has never paid a single cent for porn in their life?
Who tf are these poor saps actually spending money on it? Or tipping girls on OnlyFans? Is the infinite amount of free stuff not enough? What, they got classy taste in smut? I want to talk to a porn sommelier, because it sounds like there are options for days.
I mean... just setting money on fire. Bad for civilization. Low key though, porn sommelier is probably a way to stack some sats for sure. Content curation baby.
reply
105 sats \ 8 replies \ @Lumor 17 Jul 2022
Porn is high time preference.
reply
151 sats \ 1 reply \ @mf 17 Jul 2022
To each their own. People can spend their money wherever they want.
I agree that the industry and the people working with it would benefit as much as everyone else using bitcoin.
Hard money for everyone!
reply
0 sats \ 0 replies \ @captain_stacks 19 Jul 2022
This gives new meaning to hard money!
reply
10 sats \ 0 replies \ @TheBTCManual 18 Jul 2022
This person gets it
reply
0 sats \ 4 replies \ @a 17 Jul 2022
What do you mean?
reply
110 sats \ 0 replies \ @f321x 17 Jul 2022
People paying for porn are probably too lazy to set up a wallet and learn Bitcoin, they just want to bust a nut asap with their credit card
reply
110 sats \ 2 replies \ @Lumor 17 Jul 2022
Porn is instant gratification. Owning bitcoin in the current place in history is more of a long-term behavior. Departing with precious sats in order to get off today seems paradoxical to me. Spending fiat on porn makes slightly more sense, even with the somewhat increased level of KYC with credit cards compared to bitcoin.
The incentives are there for "creators"/thots to want to stack though.
reply
100 sats \ 0 replies \ @KingZing OP 17 Jul 2022
That's true on the bitcoin hodler side. The benefit of bitcoin as a payment method is more beneficial for seller, it's the same for any merchants globally. Some merchants are actively accepting bitcoin/crypto, especially for high privacy needed environment like dark web, but porn is still lagging behind.
reply
0 sats \ 0 replies \ @irusensei 18 Jul 2022
People do whatever they want with their money and their lives.
reply
120 sats \ 1 reply \ @BlokchainB 17 Jul 2022
Lol funny to see all these Bitcoiners bashing porn. Bitcoin is just code and people will use the code as they see fit. Those who use it for crimes should be punished those who spend it to jerk off to each their own!
reply
200 sats \ 0 replies \ @irusensei 18 Jul 2022
IMO its the same when leftists try to hijack a certain group or subculture but instead you have jbp/hhh/olavo simps trying to fit in. While I'm not adverse to these camps I do admit those people are just as annoying as your average soy guzzler starbucks dweller.
reply
100 sats \ 0 replies \ @TheWildHustle 18 Jul 2022
Similar to the decentralization and hyperbitcoinization of food (beef initiative) and healthcare (crowdhealth) The advantages would be (the creator would be able to monetize directly from the fans without their pimp taking a cut, The creator would be able to better determine how explicit the content is (not needing to compete for the most explicit content to be seen on a specific platform, some type of porn rss feed with various lightning addresses etc. The ethics on porn is another story, and I'm sure most companies will be enhanced with lighting in the future anyway,
reply
100 sats \ 2 replies \ @TheBTCManual 18 Jul 2022
Lol those are going to be some very expensive wanking sessions in the future, why would you want opportunity costs attached to your private time, you would want to spend the bad money on high time preference tasks and save the good money
reply
100 sats \ 1 reply \ @KingZing OP 18 Jul 2022
Would you say the same for El Salvador coffee for example then? Or bitrefill? The fact that a vulnerable industry isn't picking up Bitcoin is concerning, especially when dark web moving out from bitcoin already
reply
100 sats \ 0 replies \ @TheBTCManual 18 Jul 2022
Yes I would, I don't go breaking off a piece of my house because I want coffee, I don't sell off the equity in my business because I want coffee, I don't liquidate my pension because I want coffee, I don't shave off a gold car because I want coffee, these things are meant to store value.
The opportunity cost of selling my house to buy a cup of coffee is insanely high and the same goes for bitcoin. Just because it is divisible doesn't mean those same rules don't apply
It's a savings technology, if you want to save use bitcoin, if you want to pay to see fake tits, use fake money, if you want a coffee use the currency that's going to cost you the least in the future.
Just because people do sell their car to pay expesnes doesn't mean its a good deal, they now need to walk to work and it costs them in different ways, but they need the money. If bitcoin is all you have by all means feed yourself,
But this we need it to transact narrative, im not buying it for that so maybe just me
reply
100 sats \ 0 replies \ @moel 18 Jul 2022
Can someone explain to me why https://titties.lightning isn't a thing yet?
reply
12 sats \ 0 replies \ @phamtruax99 17 Jul 2022
everyone is using spankpay now
reply
0 sats \ 5 replies \ @Brunswick 17 Jul 2022
To pay for porn is to subsidize child abuse and human trafficking. There may be exceptions, but they are less than you realize. Anyone that pays for what the sector produces is either ignorant of that fact or a depraved scumbag. I can understand the draw, obviously, but once you realize this it all takes on the same color as dead baby humor. Regardless, porn is a perfect use-case for LN, but there are many more other more productive use-cases I'm sure (like fiverr, stock photos, music, licensed software, etc)
reply
112 sats \ 4 replies \ @KingZing OP 17 Jul 2022
The industry used to abuse girls to join in the business that has little to none industry regulations. But this really is much less of a case nowadays.
It's a highly competitive market with ease of onboarding. The industry is moving out from agents model. Only larger production companies can put out big marketing and production value and can compete.
Onlyfans and patreon are the biggest platform in the sector and almost just for amateur contents. The top 1 earner I posted only has posted ONE set of nudes.
Porn industry has always been a huge sector pushing for tech adoption, it used to be the internet and now it's the only entertainment sector that are producing large amount of VR content. The sex toys industry is getting huge as well, tenga launched a literal rocket to space.
reply
110 sats \ 3 replies \ @Brunswick 17 Jul 2022
Even if human trafficking is less an issue with porn than it was, that still doesn't address the child abuse problem. I include young women, technically freely consenting, as those exhibiting a history of childhood trauma. The porn industry provides a financial incentive to exhibit a self-destructive behavior by women and thereby normalizes the neuroses caused by molestation.
reply
0 sats \ 2 replies \ @KingZing OP 18 Jul 2022
There's just a lot of financial incentives for them to try. A lot are using it to pay for tuition fee, some are basically set for life. Some used to take revealing pic/video from cosplay and they can now monetarize it further. Some use masks and what not to protect their identities. Some are already doing all these for free online. It all takes effort and time to build their branding, it's not as simple or tragic as you seems to be imagining. Sex is universal and people do enjoy sharing selfie, these two combined created an explosion in amateur porn.
reply
0 sats \ 1 reply \ @Brunswick 18 Jul 2022
I'm far from arguing that it should be banned. I can see you're invested in it to an extent and believe these women you're watching online are viable and mentally healthy mates. In my experience this is not the case, and I do have some experience in this area.
reply
0 sats \ 0 replies \ @KingZing OP 18 Jul 2022
no, I am not really invested in it in the monetarized way.
I am saying we have a normalized sex industry. I used to read up webcam models personal blog on tumblr about their life and experience in the industry, so it isn't a sudden awareness of the topic. And even in Asia here, sex is being a more open topic with more sex shops opening around, more youtube channels that talks about sex. So yes, I'd assume those who put the most effort to own their own branding, are very mentally healthy, probably even more so than you and I.
reply
0 sats \ 0 replies \ @cryptoanonymous 17 Jul 2022
fcuk very rigth this will bring a very good quantity of money flowing to btc, its a enourmous market cap hide there
reply