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Porn Will Be Bitcoin's Killer App

timothy posted about a year ago | from the we-call-this-the-duh-factor dept.

Bitcoin 216

An anonymous reader writes "In December, porn.com started accepting Bitcoin for its premium services, and the virtual currency quickly came to account for 10 percent of sales. At the start of January, a post on Reddit's Bitcoin subforum boosted the figure to 50 percent, before settling down to about 25 percent. The tremendous interest has led David Kay, the marketing director at porn.com's parent company Sagan, to talk very positively about the virtual currency: 'I definitely believe that porn will be Bitcoin's killer app,' he told The Guardian. 'Fast, private and confidential payments.'"

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seems reasonable (5, Interesting)

wbr1 (2538558) | about a year ago | (#45996887)

Porn is what made VHS win the format war.

Re:seems reasonable (1)

Thor Ablestar (321949) | about a year ago | (#45996905)

Does it mean that no other formats can contain the porn?

Re:seems reasonable (5, Interesting)

The New Guy 2.0 (3497907) | about a year ago | (#45996965)

Porn couldn't get its hands on anything Betamax, so they released everything on VHS only. Beta had the better tech, VHS had the better content.

Re:seems reasonable (2)

Ginger Unicorn (952287) | about a year ago | (#45997279)

Depends what you mean by better tech. Betamax traded picture quality for running time. VHS had longer running tapes that you could fit an entire movie on from day one. Betamax didn't get that till later. Sony probably made the tapes too short for a movie deliberately as a form of DRM (that's a joke)

Re:seems reasonable (4, Interesting)

Zocalo (252965) | about a year ago | (#45997401)

You joke, but I'm not so sure there may not be some element of truth in that. When the specs for the audio CD were being thrashed out CBS/Sony president (and later CEO and chairman) Norio Ohga all but forced Philips into changing the format to accomodate his favourite piece, Beethoven's 9th Symphony, in its entirety. Before the change to 12cm diameter disks, Philips had been proposing 11.5cm and a playing time of one hour exactly, but the longest running version of Beethoven's 9th was Furtwangler's 1951 Bayreuth Festival recording at 74 minutes, requiring the extra 0.5cm. If Sony's audio division could use the length of pieces to dictate technology specs, then why not the video division?

Re:seems reasonable (0)

Anonymous Coward | about a year ago | (#45997447)

Stop spreading that fucking myth. It's not true.

Re:seems reasonable (1)

Anonymous Coward | about a year ago | (#45997459)

Moron.

http://skeptics.stackexchange.com/questions/3089/vhs-vs-betamax-how-influential-was-the-pornography-industry-in-the-format-war

Re:seems reasonable (2)

Paradise Pete (33184) | about a year ago | (#45997471)

Beta had the better tech, VHS had the better content.

Oh yeah, let's please start up that argument again.

Re:seems reasonable (0)

Anonymous Coward | about a year ago | (#45997569)

Porn couldn't get its hands on anything Betamax, so they released everything on VHS only. Beta had the better tech, VHS had the better content.

Citation? I looked around for proof and even wikipedia has nothing... Sounds made up.

Re:seems reasonable (1)

SuricouRaven (1897204) | about a year ago | (#45996977)

Partially true. Porn helped, yes, but VHS's longer playing time was an even greater advantage. Together they offset Beta's higher image quality.

Doesn't seem reasonable at all to me (4, Interesting)

mellyra (2676159) | about a year ago | (#45997257)

Currently the business model of most porn websites is based on subscriptions and not on pay per view. A large part of their customers do most likely not even use their product but have just forgot/don't bother to cancel the subscription. Currently there is no way to set up such automatically recurring payments with bitcoin.

Why would a porn company willingly throw away all these paying users that don't actually use anything (i.e. don't cause them any costs)?

Re:seems reasonable (1)

nurb432 (527695) | about a year ago | (#45997607)

No, Sony is what made the lesser quality format win...

Pay for pr0n (3, Interesting)

MouseTheLuckyDog (2752443) | about a year ago | (#45996897)

Heaven forbid. Hell, they are giving it away.

Re:Pay for pr0n (2)

crutchy (1949900) | about a year ago | (#45996947)

only morons pay for porn

Re:Pay for pr0n (5, Insightful)

r2kordmaa (1163933) | about a year ago | (#45997179)

If your business focuses on morons you will never lack for customers, seems like a great plan to me.

Re:Pay for pr0n (5, Interesting)

HuguesT (84078) | about a year ago | (#45997233)

At some level everybody is a "moron". Most people confuse ignorance and stupidity, and everybody is ignorant of something.

Re:Pay for pr0n (0)

Anonymous Coward | about a year ago | (#45997411)

At some level everybody is a "moron". Most people confuse ignorance and stupidity, and everybody is ignorant of something.

More than that; Everybody is ignorant of most everything, especially of that.

Re:Pay for pr0n (1)

mrbluze (1034940) | about a year ago | (#45997413)

At some level everybody is a "moron". Most people confuse ignorance and stupidity, and everybody is ignorant of something.

More than that; Everybody is ignorant of most everything, especially of that.

...Morons!

Re:Pay for pr0n (0)

Anonymous Coward | about a year ago | (#45997417)

Everybody is ignorant of most things, I would say. Though it takes the least ignorant to understand the scale of their ignorance, somewhat ironically.

Re:Pay for pr0n (1)

crutchy (1949900) | about a year ago | (#45997243)

pure gold my friend :-)

Re:Pay for pr0n (1)

bahco (522962) | about a year ago | (#45997271)

Mistakenly modded this as redundant. Posting to undo mod and to say Insightful.

Re:Pay for pr0n (0)

Anonymous Coward | about a year ago | (#45997427)

and only morons use Bitcoin! Its a match made in heaven!

lolwut? (0)

Anonymous Coward | about a year ago | (#45996899)

Why would anyone ever pay for pr0n?

I should start a pr0n site. --newspaper cat

Re:lolwut? (1)

nukenerd (172703) | about a year ago | (#45997173)

Why would anyone ever pay for pr0n?

Some idiots do, like the one featured here :- Plumpy [tumblr.com]

Otherwise, there is enough free stuff to occupy anybody 24/7.

Why would anyone ever pay for an operating system?

Re:lolwut? (1)

HuguesT (84078) | about a year ago | (#45997237)

The same reason why people pay for Windows instead of using FreeBSD?

Re:lolwut? (0)

Anonymous Coward | about a year ago | (#45997277)

...because it's the path of least resistance? No, free porn is much more convenient. Because it's more user friendly? No... free porn is much more convenient. Because it has better support for commonly used tools? That doesn't even make sense!

People pay for windows for many reasons, but your analogy just doesn't work dude.

slashvertizement for kiddie porn again slashdot? (-1)

Anonymous Coward | about a year ago | (#45996911)

Why?

Porn is everything's killer app (4, Interesting)

Neo-Rio-101 (700494) | about a year ago | (#45996913)

It started with video.

Pretty much any new gadget takes off when it's meshed with porn in some way.

Re:Porn is everything's killer app (0, Informative)

Anonymous Coward | about a year ago | (#45996991)

Except HD. The porn companies had some significant issues adapting to HD because they used the lower quality to hide a lot of imperfections in the performers.

Re:Porn is everything's killer app (0)

Anonymous Coward | about a year ago | (#45997045)

Hey!, this reminds me a recent new about the most searched keywords related to porn and sex in some developed countries where: mature, granny, amateur and so on...

Re:Porn is everything's killer app (3, Interesting)

myowntrueself (607117) | about a year ago | (#45997201)

It started with video.

Pretty much any new gadget takes off when it's meshed with porn in some way.

Google Glass. A HUD for sex, much needed by geeks?

Jesus H. Christ on a crutch! (0, Troll)

Chas (5144) | about a year ago | (#45996921)

Can this stupid Ponzi scheme just crash and burn NOW so we stop seeing all the Slashvertisment for it?

Fuck Bitcoin.
Fuck "cryptocurrency" in general.

It's a damn pipe dream (something for nothing), and we'll all be better off when people wise the fuck up.

Re:Jesus H. Christ on a crutch! (1)

crutchy (1949900) | about a year ago | (#45996969)

why do you care about bitcoin at all?
why are bitcoin slashvertisements any worse than all the rest?
methinks you invested during the highs and crashed and burned... sucker :-)
only idiots buy high and sell low
q: why is the u.s. stock bubble is still going on?
a: because there are plenty of idiots in america

Re:Jesus H. Christ on a crutch! (1)

maxwell demon (590494) | about a year ago | (#45997061)

why are bitcoin slashvertisements any worse than all the rest?

Because it comes up more often than any of the rest.

There was a time when every few days there was a Slashvertisement for Apple products. The result was people complaining as much (and even more) about those as they do now about Bitcoin stories.

Re:Jesus H. Christ on a crutch! (1)

crutchy (1949900) | about a year ago | (#45997261)

maybe i have a mental or optical bitcoin story filter, or i just have a higher annoyance threshold than you, but i don't see that many of them in the listings (including the new ones).

how many have cropped up in the last week?

Re:Jesus H. Christ on a crutch! (1)

maxwell demon (590494) | about a year ago | (#45997329)

The last week was unusually quiet with only two stories. But in the last five weeks, there were on average four Bitcoin stories per week, which makes a story about every two days.

Re:Jesus H. Christ on a crutch! (1)

Payden K. Pringle (3483599) | about a year ago | (#45996995)

Bitcoin (and other cryptocurrency) is essentially a stock (probably a better term for it, but it's very similar).

What gives value to the stock is people's interest in it. Investment. The difference between Bitcoin and stocks for companies is that companies can turn profit. However, you could think of Bitcoin and other cryptocurrencies as an investment by the people of the internet (and other organizations) in a special currency specifically for the internet. How mining would play into that, I don't know.

I'm just saying. It has value because people say it does. The same reason USD has value. So no, I would say it is not something for nothing. If you have such a problem with BTC, I would say you should have the same problem with the stock market in general. It's basically getting something for nothing (I invest. I wait. I take profits.)

YMMV

That's a new one (1, Insightful)

dbIII (701233) | about a year ago | (#45997103)

So you are going from saying "it's a currency" over and over to "it's a stock" because the marks are not buying the currency line?
Personally I see it like a limited edition run of "My Little Pony" plates or similar thing that gets traded between collectors. The interest of the collectors is the only thing that gives it value. The people behind it and involved in the trading need to stir up the interest of more potential collectors if they want the thing to maintain or increase in value. The crypto angle has stirred up the interest of people that read Crytonomicon (or similar geeks that got there on their own), loved the currency plot, but didn't wake up to the point that it was all backed by both gold and a complex web of trust (taking the role of Pony fans). Here we have no gold and nobody to trust - just a hot potato to pass on and hope, maybe dragging in others to keep the potato passing on if you are one of the perpetrators of the scam.

same reason USD has value

Not remotely the same because a lot of people have promised that it has value and people trust them. It's not even like the Zimbabwe dollar, where there were promises but zero trust so it collapsed.

Re:Jesus H. Christ on a crutch! (1)

Anonymous Coward | about a year ago | (#45997337)

It has value because people say it does. The same reason USD has value.

Bitcoin "value" and USD value aren't really the same thing at all.

Consider USD. The same government that issues USD collects taxes in the same currency. Those taxes comes from income and investments. Therefore there is some minimal real-world value backing the dollar. The rest of the USD valuation comes from investors' belief in USD stability. Investors believe that the US government will have the sufficient motivation and ability to do the "right thing" to maintain USD stability. That includes making policy to protect from over-inflation, pay debts, etc.

Fundamentally, investors believe that the US government will be around in 10 years, and therefore value stored in dollars is relatively safe.

On the other hand, all Bitcoin value is based on some variant of greater fool [wikipedia.org] theory.

Re:Jesus H. Christ on a crutch! (1)

maxwell demon (590494) | about a year ago | (#45997387)

Consider USD. The same government that issues USD collects taxes in the same currency.
If that's the problem, I've got a solution: I hereby volunteer to tax anyone in bitcoins. To make it easy, I'll just say everyone owes me ten Satoshi per year. ;-)

Re:Jesus H. Christ on a crutch! (0)

Anonymous Coward | about a year ago | (#45997467)

USD has value because if you don't think so you get bombed. De Gaulle made it clear after second World War; americans could do whatever they wanted with USD because they had strongest army. Rumors said Saddam wanted to trade EUR for Iraq's oil... then guess what happened.

US had similar debt ratios as Greece but nobody would ever say the truth because of fear. Guess what happened to the head of the first rating agency who dared to downgrade US bonds by just one notch.

Please stop illuding yourself, bitcoin is no worse than USD and USD is no better than bitcoin from a market point of view.

Ad hominem (0)

Anonymous Coward | about a year ago | (#45997331)

Fuck you and your ad hominem attack. Apparently bitcoin is so good, you have no intelligent argument against it.

Quick tip (0)

Anonymous Coward | about a year ago | (#45996925)

You can follow @bitcoinprice [twitter.com] in Twitter to receive hourly updates of current Bitcoin value relative to USD.

Why is everyone claiming Bitcoin is anonymous? (0)

Anonymous Coward | about a year ago | (#45996935)

My tinfoil hat is heating up.

Why is it that so many of these stories about Bitcoin claim it to be anonymous. It is anything but. Every transaction is public, by design.

Can't wait for first scandal where some famous name has his porn purchases with Bitcoin are traced back to him...

Re:Why is everyone claiming Bitcoin is anonymous? (2)

maxwell demon (590494) | about a year ago | (#45996975)

Most people only care that the persons they deal with daily don't know about their porn habits. And if you are not prominent, you can be fairly sure that no one does an extensive investigation on it, especially if they don't have any suspicion otherwise. I wouldn't expect it to be anonymous to the police or the NSA, so I certainly wouldn't use it for illegal stuff (well, I wouldn't do anyway, but the point is, even if I were doing such stuff, I certainly would not use bitcoin for it).

Re:Why is everyone claiming Bitcoin is anonymous? (1)

MouseTheLuckyDog (2752443) | about a year ago | (#45997013)

Until people start shaming people for buying porn. Can you imagine some fundamentalist group posting the names of buyers of porn?

Re:Why is everyone claiming Bitcoin is anonymous? (1)

artor3 (1344997) | about a year ago | (#45997055)

Not really, no. Who would even read their posting? Who would even care?

Maybe in some Taliban-controlled country it could be a problem, but I doubt they're buying much internet porn over there.

Re:Why is everyone claiming Bitcoin is anonymous? (4, Interesting)

mendax (114116) | about a year ago | (#45997101)

Not really, no. Who would even read their posting? Who would even care?

Maybe in some Taliban-controlled country it could be a problem, but I doubt they're buying much internet porn over there.

Oh, you'd be surprised. Several years ago, a friend of mine worked in Iraq doing computer forensics on computers taken from Islamic whack jobs. One of his jobs was to watch all the porn videos looking for other video that might have been embedded in it. There was a lot of it. It wouldn't surprise me if there's plenty of porn on Taliban computers.

Re:Why is everyone claiming Bitcoin is anonymous? (5, Funny)

waynemcdougall (631415) | about a year ago | (#45997177)

Several years ago, a friend of mine worked in Iraq doing computer forensics on computers taken from Islamic whack jobs. One of his jobs was to watch all the porn videos looking for other video that might have been embedded in it.

My wife would kill me if she caught me watching steganography.

Re:Why is everyone claiming Bitcoin is anonymous? (0)

Anonymous Coward | about a year ago | (#45997267)

One of his jobs was to watch all the porn videos

I can't imagine what such a job would be like.

Re:Why is everyone claiming Bitcoin is anonymous? (2)

SuricouRaven (1897204) | about a year ago | (#45997449)

I doubt he ever found any true stenography in there.

A few experts years ago found an effective way to detect commonly used forms of stenography in jpegs, and tried feeding two images from ebay through the detector, plus another million from usenet. Not a single one had any stenographic information that they could find, and their detector was demonstrated as very reliable.
http://www.citi.umich.edu/u/provos/papers/detecting.pdf [umich.edu]

The NSA leaks did reveal that they have an interest in porn though: They've been monitoring the porn use of some unnamed 'radical muslims' in the middle east were planning on using it to blackmail them into silence or destroy their credibility. It's not clear if they actually pulled off the blackmail or discrediting part though, the leaked document is from the planning stage.
http://www.bbc.co.uk/news/technology-25118156 [bbc.co.uk]

Re:Why is everyone claiming Bitcoin is anonymous? (3, Informative)

SuricouRaven (1897204) | about a year ago | (#45997007)

The transactions are public, but also hard to follow - most of the wallets are transitory. The path of payment for a typical porn purchase might go something like this:
Buyer buys coins from exchange.
Coins go from exchange to buyer
Buyer spends them on porn, via a one-use payment address.
Coins are transferred from there on to an exchange again to get dollars with.

So identifying a coin purchaser would need to know:
1. A coin the purchaser owns at the time. This could be found out by an insider at the coin-for-dollars exchange, or by someone giving coin to a publicly posted address.
2. Confirmation that the one-use payment address is being used to pay for porn. As it's a one-use address, only someone inside the porn distribution company or the exchange could know this. Unless the company mixes all their payments into a single pool prior to dollar-conversion.

So it could be done, but it's not trivial. You'd need someone inside the exchange willing to compromise confidentiality, which is the same thing you'd need to compromise conventional finance.

Re:Why is everyone claiming Bitcoin is anonymous? (5, Insightful)

TubeSteak (669689) | about a year ago | (#45997037)

More importantly for the porn companies: no charge backs.

Re:Why is everyone claiming Bitcoin is anonymous? (2)

SuricouRaven (1897204) | about a year ago | (#45997087)

That too.

I'm always amused and annoyed by some anti-porn crusaders talking about how the evil porn companies target children. Why would they do that? They have no credit card to pay with.

Re:Why is everyone claiming Bitcoin is anonymous? (1)

myowntrueself (607117) | about a year ago | (#45997197)

You actually have some evidence that most purchases are from one-time use wallets?

Also, the money has to go into the wallet somehow. This would mean they would buy the exact amount of bitcoins they needed for that particular transaction and that then goes into the wallet they intend to use for that transaction and then delete the wallet. I think that is too short-term for most bitcoin users. Who in their right mind would buy bitcoins day by day as needed? When the value fluctuates so wildly?

I think its more likely they have a bunch of hoarded bitcoins (that they bought when there was a dip in price), maybe transfer some into a one-use wallet and then use that wallet for the dodgy purpose, being unaware that the wallet this bitcoin was transferred *from* is easily determined.

The potential for mischievous use of the block chain is awesome. Could be a marketers wet dream. Especially as less tech-savvy people start using bitcoins.

Re:Why is everyone claiming Bitcoin is anonymous? (1)

SuricouRaven (1897204) | about a year ago | (#45997431)

Not from. To. That's how merchants confirm who is paying for what. So you can find out a celebrities bitcoin wallet address and see how much they have in there, and you can see them spend the money... somewhere. But you can't tell who got it, unless they gave it to someone else who published their address.

It'd be easier to tell if they donated to a tip jar though. I can imagine that with easier payments some porn sites might use that business model - come, look at the porn and ads, and if you like it throw a little bitcoin to the address on the bottom of the page.

Hate to rain on your parade (1)

trifish (826353) | about a year ago | (#45996937)

I fail to see how Bitcoin is private and confidential. All the transactions are public (inherently by design). And if you buy bitcoins somewhere with your CC or paypal or bank, it is possible to link the bitcoins to your name.

If you buy them with cash, you could as well buy one of those cash coupons that porn sites might accept too. Then, you gain TRUE anonymity and, as a bonus, you and the seller avoid the massive volatility of the currency (100x decrease/increase in value over a day).

Re:Hate to rain on your parade (0)

Anonymous Coward | about a year ago | (#45997093)

It doesn't need to be 100% untraceable. It just needs to be less traceable than the status quo, which is credit cards. Also, I wouldn't exactly trust porn sites with my credit card info.

Realistically, as long as your bank/exchange doesn't spill the beans about the account holder linked to the bitcoin address, you should be fairly anonymous against everyone except the government. And you should be more worried about your S.O. than the government.

Re:Hate to rain on your parade (1)

Anonymous Coward | about a year ago | (#45997263)

Porn sites have one of the best credit card security records. They know that their business depends on the confidentiality trust of their customers. Not like retailers like Target who say "sorry" and shrugh it off.

Re:Hate to rain on your parade (0)

Anonymous Coward | about a year ago | (#45997123)

It's true, a visa gift card bought with cash has more anonymity than Bitcoin.

Re:Hate to rain on your parade (1)

EETech1 (1179269) | about a year ago | (#45997199)

What if you used that Visa gift card to buy Bitcoin?

Re:Hate to rain on your parade (2)

serviscope_minor (664417) | about a year ago | (#45997203)

I fail to see how Bitcoin is private and confidential.

It's muh more private and confidential thaan anything other than cash. In it's default form, you buy some bitcoins. Only the exchange knows the information to link your bitcoin wallet to your credit card, so someone has to get the exchange to part with the information.

The someone has to track your transactions through the blocklog.

Compare to a credit card bill which might look something like this:

1/1/2014 Large Breasted Porn Company Inc.......................$49.95

There's always a tradeoff between convenience and security (or anonymity). Bitcoin is not perfect, but it is a whole lot better than credit cards.

And that's ignoring the various mixing services available, or you could find a group of like minded people and buy each others bitcoins and exchange for cash, or you could buy some hardware and mine enough bitcoins for whatever you want.

Re:Hate to rain on your parade (0)

Anonymous Coward | about a year ago | (#45997305)

Please send URL for Large Breasted Porn Company Inc, it's urgent. Thank you.

Re:Hate to rain on your parade (1)

SuricouRaven (1897204) | about a year ago | (#45997473)

Wait... (0)

Anonymous Coward | about a year ago | (#45996939)

People still pay for porn?

Porn must have gone free... (1)

The New Guy 2.0 (3497907) | about a year ago | (#45996959)

See, unlike a second pizza... a second copy of a porn picture costs very little. Pretty much a fair trade for a Bitcoin. Come on, that thing has been downgraded to the point it's now being used for something so cheap it can't be paid for by Visa/Mastercard. They have a hard and fast rule that charges under 70 cents are always money losers. Apparently, the elemental unit of Bitcoins has fallen below 70 cents.

Re:Porn must have gone free... (1)

SuricouRaven (1897204) | about a year ago | (#45997021)

Bitcoin doesn't have an elemental unit as such. Most people now thing in micro-bitcoins, because a single coin is worth too much for everyday use, but that's just an arbitary shift of the decimal point.

Re:Porn must have gone free... (1)

maxwell demon (590494) | about a year ago | (#45997099)

Bitcoin does have an elemental unit, the Satoshi. Yes, it could be changed, but AFAIU that would be a protocol update, that is, you'd need new versions for your clients in order to spend or accept them. Just like the cent is the smallest unit for the dollar, but in the (extremely unlikely) case the government decided a lower unit were desirable, they could e.g. add a "mill" at the value of 0.1 cent without the need to switch to a completely different currency (all the existing dollars and cents would remain valid, just as all existing bitcoins would remain valid if sub-Satoshis were introduced).

Re:Porn must have gone free... (1)

kasperd (592156) | about a year ago | (#45997309)

Apparently, the elemental unit of Bitcoins has fallen below 70 cents.

Given that a Satoshi is 10^-8 bitcoins, what you are saying is, the value of a Bitcoin has fallen below 70 million dollars. I don't think anybody ever traded one bitcoin for such a high price.

The value of a Bitcoin has not fallen below 70 million dollars, it was never that high in the first place.
The value of a Satoshi has not fallen below 70 cents, it was never that high in the first place.

Such a high price would have implied the size of the entire Bitcoin economy was worth 1.47e15 dollars.

lol yeah right (0)

Anonymous Coward | about a year ago | (#45996961)

So, a system whose transactions are publicly tracked is expected to be used to pay for porn.

Really?

People still pay for porn? (0)

bloodhawk (813939) | about a year ago | (#45996967)

Seriously people still pay for porn? with so much freely available I gotta ask Why?

Re:People still pay for porn? (1)

thatkid_2002 (1529917) | about a year ago | (#45996987)

If you're into a specific thing and/or performer you can go straight to the source. Generally you only really need to pay once to get access to download the entire archive.

Re:People still pay for porn? (0)

Anonymous Coward | about a year ago | (#45996999)

Maybe it's porn sites buying porn, hoping that they can resell it?

Re:People still pay for porn? (4, Insightful)

SuricouRaven (1897204) | about a year ago | (#45997035)

I suppose if you have a really uncommon and specific fetish, maybe? Or maybe it's a 'support the artists' thing? Show them their work is appreciated, and they'll make more.

Re:People still pay for porn? (1)

mrbluze (1034940) | about a year ago | (#45997455)

I suppose if you have a really uncommon and specific fetish, maybe? Or maybe it's a 'support the artists' thing? Show them their work is appreciated, and they'll make more.

That's an interesting fetish... maybe there should be porn where the artists are spending money on porn whilst watching porn of people spending money on porn (recurring).

Another day another bitcoin article (0, Flamebait)

dbIII (701233) | about a year ago | (#45997051)

I know that bitcoin depends on lots of people joining to prop up the pyramid but don't people think the number of articles about this scam baited for geek are getting a bit excessive?

Re:Another day another bitcoin article (0)

Anonymous Coward | about a year ago | (#45997161)

Timothy bet his house on bitcoin.

Re:Another day another bitcoin article (0)

Anonymous Coward | about a year ago | (#45997219)

Bitcoin is a bubble and number of articles shows, that lots of people try to sell their assets for good price.

Help (0)

Anonymous Coward | about a year ago | (#45997067)

Where can I get some poon coins?

Fleshlight: I wish use of it would generate coins (0)

Anonymous Coward | about a year ago | (#45997079)

NT

Re:Fleshlight: I wish use of it would generate coi (1)

maxwell demon (590494) | about a year ago | (#45997145)

That would give "proof of work" a wholly new meaning ... ;-)

goodbye (2, Insightful)

Anonymous Coward | about a year ago | (#45997111)

I might not be a registered user, but I've been a Slashdot regular for years. The overall decline of quality of submissions is nothing new, but this particular one puts me over the edge. Recently, Slashdot's become only worth it for the comments, but as even this section's become practically unreadable (and I'm not even talking about the changes to the layout), I guess I owe you a quick final goodbye as I proceed remove Slashdot from my RSS reader in favor of multiple, more specialized news sources.

-m
P.S. While I couldn't care less about my moderation, before anyone flags this off-topic, please consider whether there's any words at all that can be written ON-topic, given the submission.

Re:goodbye (0)

Anonymous Coward | about a year ago | (#45997213)

I might not be a registered user, but I've been a Slashdot regular for years. The overall decline of quality of submissions is nothing new, but this particular one puts me over the edge. Recently, Slashdot's become only worth it for the comments, but as even this section's become practically unreadable (and I'm not even talking about the changes to the layout), I guess I owe you a quick final goodbye as I proceed remove Slashdot from my RSS reader in favor of multiple, more specialized news sources.

-m
P.S. While I couldn't care less about my moderation, before anyone flags this off-topic, please consider whether there's any words at all that can be written ON-topic, given the submission.

Care to share what those news sources are? From what I've seen slashdot's decline is only representative of the internet as a whole.

Re:goodbye (0)

Anonymous Coward | about a year ago | (#45997239)

yes, we should post a story, on how to dump slashdot and what alternatives have emerged to be better

Re:goodbye (0)

Anonymous Coward | about a year ago | (#45997269)

There are many on topic comments above, that have already been modded up. Anyways, goodbye, you will not be missed.

Re:goodbye (1)

maxwell demon (590494) | about a year ago | (#45997405)

please consider whether there's any words at all that can be written ON-topic, given the submission.

Well, given that this is about porn, I guess it's one of the rare cases where a link to goatse would be on-topic (you might have to mention that you don't need bitcoins to see it, though) ;-)

Re:goodbye (0)

nurb432 (527695) | about a year ago | (#45997623)

*wave* goodbye!

Who are you again and why do we care you are leaving?

"Does it play porn?" (0)

Anonymous Coward | about a year ago | (#45997119)

Will be the new slogan instead of "can it run crysis" or "can it play doom?". Now it's all about porn, no wait it always was about porn.

Paying for porn? (0)

Anonymous Coward | about a year ago | (#45997139)

Why pay for porn? Getting pussy is cheap. I get a little black pussy every time I get out of the shower, when I come home, and when I go to bed. She always crawls into bed with me and gets on top. She's ever so appreciative for all the attention I give her. *meow*

legislation to bring back firing squads (0)

Anonymous Coward | about a year ago | (#45997313)

is on the 'agenda' for US. sex crimes are worst crimes on tv worse than murder. free the innocent stem cells. creation is trysexual.. never a better time to consider ourselves in relation to momkind our spiritual centerpeace...

I'm a cypherpunk and I work in porn. (5, Interesting)

Anonymous Coward | about a year ago | (#45997359)

I'm a cypherpunk. (On a good day, I might describe myself as a cryptographer if it's simpler to, but emphasise my slightly different fields of experience compared to my peers. I hang around a lot of cryptographers.)

I work in porn (fetish porn, both behind, and in, the scenes, and yes, it's risk-aware, consensual kink, and our content is legal both here and in the US and most other places).

I strongly agree. We've been looking into accepting payments in BTC for some time. We hope to go live soon.

You have no idea - unless you also run an adult site! - just how much we hate payment processors, and just how much payment processors hate us. At best, we tolerate each other as a necessary evil business partner. But at worst...

They censor us. There is plenty of legal content that we cannot publish because if we do, they will pull service from us. (Sure, because that's what this industry needs - MORE censorship?!) They apologise profusely and say that this is because of Visa or MasterCard's rules, not their fault. Yet Visa and MasterCard claim to some that they do not have these rules, and to others the opposite. A large porn site based in California definitely gets to post content that we, not based in the US, definitely do not, even though it's totally legal in both our countries. It's not the large site's fault: they're doing the best they can and I appreciate their competition. I just wish we got a fairer deal, and I know the US State Department is heavily involved somewhere in all that mess. Wonderful. That's all we need. Fucking diplomats. (Actually, no, that might be a cool idea. Putting that in the notebook.)

They blame us for chargebacks. They apparently hate porn because they get chargebacks from people who buy porn, and then get buyer's remorse: jealous spouses, or something. Nope, not seeing that. That's not been our experience with our customers. We've only had 2 chargebacks from customers, ever. Our paying customers are very happy and enthusiastic about our content, which means we must be doing something right. Yay.

They blame us for card fraud. We have a very low rate of card fraud: lower than companies who sell computer parts. And it's easy to see why. If people want to steal our content they don't have to steal credit cards to get it. They just pirate it: it gets reposted on tumblr or sex.com or Bittorrent or RedTube or PornHub, or anywhere else, really. We KNOW that, of course: and we can either spend our time chasing around taking it down, or we can spend our time making more porn: I don't know about you, but I prefer the latter. There isn't anything we can do about piracy except hope they keep the watermarks and people see it, like it, decide they want more of our content, and come to our site and buy some, and so, it becomes promotional material. Is it sustainable? That's a business model problem. It is for us, right now. Though plagiarists who remove watermarks from stuff, or put their own on it? They can fuck off - that's just rude, and that's coming from a Pirate Party member. (Well, there's nothing we can do about it that doesn't involve being massive arseholes to potential customers - Prenda Law can eat a dick for giving our industry a bad name by using porn piracy as an excuse for outright blackmail!) You can't pirate computer parts (unless they've gotten REALLY good at 3D printing while I wasn't looking!). Result: we don't get carders, computer companies do.

Sure Bitcoin's value fluctuates compared to currency. Sure interchanges between hard currency and Bitcoin will likely be regulated (Bitcoin itself, of course, cannot be regulated in any useful manner). But the option to potentially remove a payment processor which is ultimately based in the US from the chain is a HUGE win. We can even pay our hosting and DNS directly with Bitcoin now. There are some things in life that hashcash can't buy. For everything else, there's Bitcoin. =)

It's not anonymous in the sense that it absolutely can't be tracked. Hell, the blockchain is public, and the US Government, with FINTRAC, can most definitely see the money going in and/or out. (See above re: regulation.) But it probably helps protect our customers' privacy a little more than the alternatives: the perception is there, at least (I'm not totally clear if that's a good thing).

Thanks, Satoshi. Thatoshi. (God, I wish I'd have taken you up on that offer...)

Posting anonymously because I don't want to piss off our new payment processor. Really, guys, we know it's not your fault.

Dollars for Porn (0)

Anonymous Coward | about a year ago | (#45997381)

Porn for dollars won the porn war.

Who pays for porn? (0)

Anonymous Coward | about a year ago | (#45997415)

I mean, really?

No need to schlep over to the local convenience store and pickup the latest Penthouse or Hustler any more.

No need to dial into your local BBS and wait a half-hour for a download.

titsforbitcoin.com amateur cam girls earn Bitcoin (0)

Anonymous Coward | about a year ago | (#45997485)

I have also been a Slashdot regular for a while, just never registered, but it is now time for me to give back some to the Slashdot community.

At www.titsforbitcoin.com amateur cam girls only accept Bitcoin payments its a pretty new site, only like a week old apparently but this definitely seems like the 'killer app' for Bitcoin + Porn - the payments are anonymous to the girls - the payments from the users are anonymous, its a win/win situation.

No need for recurring payments on this site, which is probably why it is 'a killer app' for Bitcoin/porn because most porn sites require a 'recurring payment' but this sort of site relies on 'adhoc' payments made by the users when they 'feel like it'!

 

Who pays for porn? (1)

Karmashock (2415832) | about a year ago | (#45997527)

isn't it mostly free one way or the other?

Add this and the $30 million worth seized Btcs... (0)

Anonymous Coward | about a year ago | (#45997543)

Now the US gov can really help small and middle sized businesses for once!

Amateur cam girls now accept Bitcoin (1)

blockofchock (3504593) | about a year ago | (#45997555)

At sites such as titsforbitcoin cam girls are now accepting Bitcoin, seems perfect because its anonymouos on both sides and there is no need for a recurring payment system, its all ad hoc payments when the user feels the need, pretty cool.

Drugs (2)

Tridus (79566) | about a year ago | (#45997559)

I'm pretty sure drugs and hiring Russian botnet operators are already Bitcoin's killer apps.

Fast? (0)

Anonymous Coward | about a year ago | (#45997561)

I'm pretty sure at every merchant I've spent coin at... it was slower than a credit card.

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