Paypal Blocks Payments to PornHub Models; Cryptos See Opportunity

November 14, 2019 | Digital Assets, News

Pornhub is up in arms against PayPal for suddenly blocking payments to its 100,000 models.

“We are all devastated by PayPal’s decision to stop payouts to over a hundred thousand performers who rely on them for their livelihoods,” said a notice today on Pornhub.

It appears PayPal has assigned no reason for suddenly getting religion on the subject of model payouts.

Below-the belt hit to livelihoods

Pornhub is now advising models to switch to alternative methods of payments, such as direct transfers to a bank.

However, fears arise: could banks ban or freeze the models’ accounts for their porn connection?

A very obvious and workable solution is receiving payment in cryptocurrency.

Last year, Pornhub announced a tie-up with the Verge (XVG) cryptocurrency. But six months later, there appeared to be not much take-up of the crypto on Pornhub. A report revealed that less than 1% of payments on Pornhub are made using cryptos.

Besides, models appear to be unfamiliar with cryptocurrencies as apparent from at least one response to Pornhub’s notice.

Could other cryptos like bitcoin step into the breach?

The seemingly arbitrary action by PayPal has crypto supporters crying for censorship resistance:

“With bitcoin, for instance, individuals can transfer value without fear of third party interference. But, with centralized online payment systems, such as PayPal, censorship is an omnipresent threat.”

Apart from censorship, other cryptos should also look at the size of Pornhub and the opportunity. Here are the 2018 insights:

  • Number of site visits in 2018: 33.5 billion
  • Average daily visitors: 92 million
  • Number of searches: 30.3 billion
  • No of videos watched every minute: 207,405
  • No of videos uploaded in 2018: Nearly 5 million
  • Data transfer 2018: 4403 Petabytes (More than what the entire Internet consumed in 2002)

[Related Story: New Swiss Regulated Bank is a Bridge Between Traditional Banking and Crypto  ]

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