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  ]

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Alternative Investments/Real Estate: The New Guardian i3 Global REIT ETF
August 13, 2020     Alternative Investments, News, Real Estate

The inaugural suite of five ETFs from Guardian Capital comprises two Directed Outcomes solutions that combine high conviction ideas with derivative overlays to seek high income and risk mitigation and…
Venture Capital: Gong Secures Unicorn Status With $200M Series D
August 13, 2020     News, Venture Capital

Gong, the startup which helps businesses glean “revenue intelligence” from customer interactions, achieved unicorn status when it raised $200 million at a valuation of $2.2 billion. Coatue led the Series…
Digital Assets: NPP, A Blockchain Solution for Governments Considering a CBDC
August 13, 2020     Digital Assets, News

Apollo Fintech announced Wednesday the completion of its National Payment Platform (NPP), the first of its kind, blockchain-based, cashless national currency platform. It enables a central bank to issue a…
FinTech: Done With Beta, Revolut Preps For Australian Launch
August 13, 2020     FinTech, News

Revolut, the UK-based neobank led by Nikolay Storonsky, on Tuesday called an end to its beta mode operations in Australia. Country CEO Matt Baxby said the fintech was now readying…