Fun

PayPal’s Axing of Pornhub Model Payments May Boost Crypto Conversions

News Feed - 2019-11-14 07:11:09

Top adult entertainment site Pornhub may expand the range of cryptocurrencies it offers to pay performers for their work after PayPal abruptly cut off service.


“We currently pay out in verge and are evaluating adding other cryptocurrency payout options,”  Corey Price, a vice president at Pornhub, told CoinDesk Thursday.


More than 100,000 performers who relied on PayPal “for their livelihoods” were affected by its decision to discontinue the service, Pornhub said in a blog post earlier in the day.


The company said it was “devastated” by the move and called on those models with PayPal options selected in their accounts to use one of its other provided methods of paying out. These include direct deposits, checks and the verge cryptocurrency.


Pornhub announced it would accept verge payments in April of last year, saying it offered users privacy and convenience. The site also said it would accept tron and zcash last June, although these options weren’t passed on as payout options to performers.


With PayPal now withdrawn, it may be that Pornhub performers will increasingly turn to the cryptocurrency option, especially as bank accounts may be frozen if banks get a hint that porn is related to the payments.


At press time, the price of verge (XVG) had risen 2 percent on the day to $0.003860, according to CoinMarketCap.


However, that possibility maybe be somewhat dampened by a lack of knowledge of how to use cryptocurrencies and convert them to more widely usable fiat currencies.


In Pornhub’s Twitter announcement of the PayPal block, performer Shyla Jennings reflected that hurdle with the tweet: “Crypto, personal portal… LOL. I don’t understand what that even is. I’m cool with just direct deposit into my bank account.”


The thread is further littered with crypto community members calling for Pornhub to widen its payment options to other coins such as bitcoin, litecoin and others.


Dedicated adult industry crypto project SpankChain also made a twin promotion/PayPal criticism with the tweet: “Clearly somebody deserves to be Spanked.”


UPDATE (Nov. 14, 19:30 UTC): This article has been updated to include additional information received from Pornhub.


Pornhub image via Shutterstock

News Feed

TRUMP token whale sells for $3.7M profit as memecoin starts decline
Zoltan Vardai14 hours agoTRUMP token whale sells for $3.7M profit as memecoin starts declineThe memecoin whale made an over 1,428% return on their initial investment in the TRUMP token.3538 Total views25 Total sharesList
Runes make up 68% of all Bitcoin transactions since launch
Brayden Lindrea3 hours agoRunes make up 68% of all Bitcoin transactions since launchRunes continue to make up the vast majority of Bitcoin transactions; however, the fees earned by Bitcoin miners from Runes have slightly
SushiSwap merges DAO with ‘Labs’ model, introduces multitoken ecosystem
Ana Paula Pereira9 hours agoSushiSwap merges DAO with ‘Labs’ model, introduces multitoken ecosystemSushiSwap is now managed by Sushi Labs, an autonomous company that will operate under a council structure similar to
How Is Bitcoin Cash Different From Bitcoin Core?
How Is Bitcoin Cash Different From Bitcoin Core? The crypto space can be hard to break into for those unfamiliar with the jargon, lingo, and foundational knowledge taken for gran
SCRT Labs Launches $400 Million Fund to Bolster Privacy Network’s Ecosystem and Application Layer
SCRT Labs Launches $400 Million Fund to Bolster Privacy Network"s Ecosystem and Application Layer On Wednesday, the Secret Network announced the launch of a $400 million fund in or
Highly Anticipated Insured Launchpad, Binstarter to Open to the Public on Aug 4th
Highly Anticipated Insured Launchpad, Binstarter to Open to the Public on Aug 4th press release PRESS RELEASE. Binstarter Protocol; the first and only Insurance P
Record-Breaking Bitcoin Surge Post-Trump Election: Futures Market Hints At More To Come
The futures market is signaling that the current Bitcoin rally, spurred by Donald Trump’s recent election victory on Tuesday, might be starting. Accordingto Vetle Lunde, head of research at K33 Research, the electi
PTERIA to Mars Celebrates a New All Time High
PTERIA to Mars Celebrates a New All Time High sponsored While Bitcoin and the greatest part of altcoins are going down, Pteria DAO’stoken PTERIA could not b
Microsoft faces multi-billion dollar fine in EU over Bing AI
Tristan Greene3 hours agoMicrosoft faces multi-billion dollar fine in EU over Bing AIThe Redmond company could be fined as much as 1% of its annual revenue if it doesn’t respond by May 27.894 Total views3 Total sharesL
Litecoin Retreat? A Drop Below $100 Still A Possibility—Analyst
Este artículo también está disponible en español. Litecoin (LTC) is currently attempting to sustain its position above the critical $120 threshold, eliciting concern amon
2025 Bitcoin Predictions: Top Fund Manager Shares His Outlook
Este artículo también está disponible en español. In a thread on X, Alistair Milne, the co-founder and Chief Investment Officer (CIO) of the Altana Digital Currency Fund
3 reasons why DOGE, PEPE and other memecoins are flashing red
Nancy Lubale9 hours ago3 reasons why DOGE, PEPE and other memecoins are flashing redMemecoins are underperforming the crypto market today, which could indicate that traders will pay more attention to BTC and ETH.1730 Tot