Paypal Blocks Payments to PornHub Models; Cryptos See Opportunity

November 14, 2019 | Digital Assets, News
https://dailyalts.com/wp-content/uploads/2019/11/woman-2359562_1920-pornhub.jpg

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.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/07/bitcoin-2668211_640.jpg
Digital Assets: Bitcoin Closes In On $40K After Amazon Rumors Spark Rally
July 26, 2021     Digital Assets, News

Bitcoin, the leading cryptocurrency, which had been in a downtrend since its April highs, and tested $30,000 on more than one occasion, surged nearly 15% after a rumor that Amazon…

https://dailyalts.com/wp-content/uploads/2021/07/rivian-r1t-7.jpg
Venture Capital: Rivian Lands $2.5B; Plans Second EV Plant Including For Batteries
July 26, 2021     Latest News, News, Venture Capital

Electric vehicle maker Rivian announced Friday (July 23, 2021) its close of a $2.5 billion funding round led by Amazon’s (NASDAQ: AMZN) Climate Pledge Fund, D1 Capital Partners, Ford Motor…

https://dailyalts.com/wp-content/uploads/2021/07/champagne-2178775_640.jpg
Liquid Alternatives: Three Reasons
July 26, 2021     Liquid Alternatives, News

Spawned after the 2008 financial crisis, liquid alternatives have disappointed investors. During the 2010s, these instruments averaged an annualized gain of 1.66%. Writing in Morningstar, columnist John Rekenthaler makes a…

https://dailyalts.com/wp-content/uploads/2021/07/Ez4eEsTWUAMC8Gz.jpg
FinTech: UK-Based PensionBee Reports Assets Under Administration Have Doubled In A Year
July 26, 2021     FinTech, News

An influx of new customers has boosted two-fold PensionBee’s assets under administration as at June 30, 2021. Further, in a landmark year, PensionBee (LON: PBEE) raised £55 million from an…