Cryptocurrency and Porn Industry: Why is it a perfect match?

In the 1980s, the internet was frequently used by three types of people: government officials, university scholars, and individuals seeking adult entertainment.
Keeping the mundane search history of officials and the scholars away, only one thing remains in the frame, which is the often frowned upon, yet highly sort after, the adult entertainment industry.
The adult entertainment business has seen massive growth over the years and its numbers speaks for themselves. In 2018, Pornhub, one of the biggest porn websites on the planet, ‘entertained’ individuals approximately 33.5 billion times via their webpage. That is around 13.7 million visits per day.
Source: XBIZ
An estimated number of 201,405 videos are watched, and porn websites around the world register 64,000 visitors/per minute in a day.
The data associated with the industry does not shy away from the revenue aspect either. According to a poll conducted by XBIZ, the porn industry generates a magnanimous revenue between $6 billion and $15 billion every year, in the US.
This is more revenue than the NBA, Hollywood, and Netflix. America’s intense porn obsession can be credited for fueling its economy and the adult entertainment industry clearly plays a major part in it.
CRYPTOCURRENCY AND PORN
The adult entertainment world is one of the few industries which prides itself on the reputation of being the front runners of early technological adoption. In 1977, when VHS tapes made its way into America and the rest of the world, it is believed that the porn industry played a massive role in ushering in its initial success in the 1980s.
However, the tryst between cryptocurrencies and the porn industry has been a tricky one. According to a research, conducted by the porn studio VogoV, by the end of 2018, around 470 adult video sites, 50 webcam platforms, and 35 sex shops worldwide had started accepting virtual currencies as a form of payment. The data on paper may echo a significant number, but when it is compared to the overall size of the ever-expanding adult industry, it is very minuscule.
The industry started to take massive strides with the adoption of cryptocurrency around early 2017, when the idea of crypto as a payment started gaining traction.
Source: Naughty America
In 2017, major sites like Naughty America and xHamster started accepting Bitcoin as a form of payment. Pornhub and some of its sister websites also started establishing partnerships with various cryptocurrencies such as Horizen [ formerly ZenCash ], Tron, and Verge.
CRYPTOCURRENCY AND ADULT INDUSTRY: WHY IS IT A PERFECT MATCH?
According to a poll by fightthenewdrug.com, Porn was actively viewed by the millennial of the current generation [between the age of 16 and 33]. A person of this age group mostly has an active social life and outgoing lifestyle. No one in this age group would like to disclose or talk about it with their partner that they were paying for pornography. It can come across embarrassing and usually uncomfortable most of the time. The adult entertainment industry is one such which can only be consumed in the privacy of your own space.
This is where both the parties meet at a common ground and present a great opportunity.
The anonymity offered by the virtual assets is a sigh of relief for the adults who do not want their private viewing habits on the internet to be a recorded statement on their credit cards. Hence, the idea or awkwardness of receiving unexpected emails from your favorite porn websites is completely taken out of the picture.
The payment platform associated with crypto also solves major issues which are associated with trust between the user and the website. The amount of fraudulent websites prevalent in the adult industry is massive and people are justifiably skeptical of entering their card details. The space for illicit scams is enormous and a slight pushback can allow hackers to access your bank account credentials. In simple terms, it is not safe!
Additionally, one of the major issues which often escape the eye is the difficulty suffered by adult performers. The number of adult performers around the world is assumed to more than a 100,000. That might not be significantly high, but in terms of paying them for their service, it is.
The issue arises as a lot of banks do not allow adult performers to open accounts in their name and use their services. A few years back, adult film stars were reportedly getting their bank accounts systematically closed by JP Morgan Chase for no reason other than their professional connection with the adult entertainment industry. Hence, most of the performers have to take payment in cash, which becomes a personal hassle for them as their security is in the limbo.
The cryptocurrency method of payment completely solves this problem as they can receive their payments directly to their digital wallet without the involvement of financial institutions.
MAJOR PARTNERSHIPS BETWEEN CRYPTOCURRENCIES AND PORN WEBSITES
Bitcoin, the first original cryptocurrency which started the whole crypto-saga, is the most popular and valuable crypto in the market. At the time of writing, Bitcoin held was closing in on 60% market dominance in the cryptocurrency market.
Source: Pornhub
However, when Pornhub introduced the option of cryptocurrency payment on their website, they overlooked Bitcoin and decided to form a partnership with the lesser known crypto known as Verge cryptocurrency.
Corey Price, the Vice President at Pornhub, stated that Verge was entirely anonymity-focused, which is why it was chosen over other virtual assets. Price added that Verge offered “convenience and security”, which in theory was an inaccurate statement considering the volatility of the crypto-market.
Moreover, if the functionality of Bitcoin and Verge were to be compared, Verge was more of a privacy token than Bitcoin. All the transactions taking place on the Bitcoin blockchain can be traced and eventually be linked to a person’s name, provided KYC rules have been implemented.
When using Verge, the anonymity is further solidified because of its unique Wrath Protocol. The protocol hides every part of the transaction from the blockchain, except the amount which was sent or received. The blockchain will not have a record of the purchase nor can it be traced back to an individual.
Moreover, Verge had a better performance track record as it could process 100 transactions per second, in comparison to Bitcoin’s seven transactions per second. Verge also boasted better speed as it was able to process a transaction every 30 seconds, whereas Bitcoin [BTC] required 10 minutes for executing a transaction.
Pornhub also had the option of crypto payments via Horizon [formerly known as ZenCash] and Tron. Pornhub’s choice can be identified from the reasons above.
Source: Twiter
Brazzers followed suit and listed the same tokens as options on their crypto payments platform a few days later.
However, Bitcoin did not entirely miss out on the adult industry. Mainstream porn website Naughty America listed Bitcoin [BTC] payments on their webpage alongside Litecoin [LTC]. Other lesser-known websites such as Chaturbate and Playboy Plus also included Bitcoin payments on their websites.
Source: CamSoda
Contrary to the selection above, CamSoda recently announced the integration of crypto-payments, including seven different coins such as Bitcoin [BTC] and Ethereum [ETH]. Hence, the general bias towards certain coins was not widely spread out.
The adoption of coins might vary from site to site, but it is still a win for the larger picture, which is the global adoption of cryptocurrencies.
CONCLUSION
The argument drawn for the late adoption of cryptocurrency in the porn industry is highly debatable. The speculated reason for the increased interest of the adult industry in cryptocurrencies can be attributed to the increasing popularity of virtual assets over the last half-decade.
The cryptocurrency market went through a major market surge back in 2015 and witnessed another significant one in 2017 which raised the valuation of the crypto-market to over 100$ billion in market capitalization. The community started exploring various platforms where virtual currencies could be implemented.
The adult industry might have been slow to get involved, but they were not ignorant to not tap into the industry. The progressive growth of the crypto with a huge user base online reassured the adult industry that the inclusion of crypto-payments would only improve their stocks and revenue in the years to come.
The post Cryptocurrency and Porn Industry: Why is it a perfect match? appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils

Bitcoin rallied past $8,000 last week and showed good resilience in maintaining its bullish momentum. Bitcoin was priced at $7,915.81 with a market cap of $140.18 billion and registered $23.46 billion in 24-hour trading volume.
Litecoin stood fifth in the list of top-10 cryptocurrencies with a market cap of $5.71 billion and $3.98 billion in 24-hour trading volume. The coin was priced at $92.46, at press time.
1-Day BTC
Source: TradingView
The one-day BTC chart showed that there was an uptrend from $4,008.79 to $8,195.17. The chart specified that the resistance lines stood at $7,307.15, $6,444.50 and $5,505.74 and there were two support lines at $3,755.01 and $3,171.51.
Moving Average Convergence Divergence [MACD] indicator pointed at a bullish crossover.
Parabolic SAR indicator displayed a bullish trend as the dotted markers were below the candles.
Relative Strength Indicator indicated a bullish trend as the market was in the overbought zone. However, a correction seemed to be in the offing.
1-Day LTC
Source: TradingView
The one-day chart of LTC showed two uptrends. The first was from $42.23 to $91.40 and the second was from $91.40 to $102.85. The resistance line stood at $102.52 and the supports were present at $60.58 and $32.06.
Bollinger Bands exhibited a high rate of volatility in the market.
The Awesome Oscillator indicated a bullish buying opportunity in the LTC market as the short-term momentum was greater than the long-term momentum.
Chaikin Money Flow chart was below the zero-line, indicating that money flowing out of the market.
Conclusion
Bitcoin and Litecoin seemed to be in a bullish market as forecast by the indicators.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils appeared first on AMBCrypto.
Source: AMB Crypto

Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception

The cryptocurrency market continued to register massive growth, as the prices of most major cryptocurrencies soared. However, the late entrant to the list, Binance Coin [BNB] is posing to be tough competition for other coins in terms of performance. BNB which entered the crypto market in July 2017, breached its all-time high and was trading at $28.79, at press time.
Source: Trading view
Binance Coin started out in July 2017 with a value of $0.1927 and marked its all-time high on May 18 at $31.91, according to the Trading View chart of the coin on Binance. BNB noted the growth of a massive 16,458.31% since 2017. However, until the beginning of 2019, BNB was valued at $6.59, after which the coin noted a surge by 384.15% and peaked at $31.
Source: CoinMarketCap
In the month of May, BNB noted a 28.16% growth, and the coin was valued at $28.66, with a market cap of $4.04 billion. The 24-hour trade volume of the coin was reported to be $551 million as it spiked by over 10% in a day. In the past seven days, the coin grew by 35.97%, but slipped by a minimal 0.25% in an hour.
BNB was highly traded on its native exchange, Binance via the BNB/BTC and BNB/USDT pairs. The BNB/BTC trading volume noted on Binance was $140 million, while the volume reported on the BNB/USDT pair was $132 million. The third place was taken by BKEX via the BNB/USDT pair as it registered a trading volume of $72 million.
The post Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Cash, Ethereum, and other altcoins follow Bitcoin’s lead and pump by more than 6% in under 2 hours

Although the price of each cryptocurrency should matter on its own status and developments in its own ecosystem, it doesn’t. The price of altcoins is largely correlated to Bitcoin’s, which explains this pump in altcoins.
The second largest cryptocurrency, Ethereum, pumped by more than 7% in less than 2 hours, which was the same case for Bitcoin Cash. The price of Ethereum, at press time, was $249 and had a market cap of $26 billion.
Source: TradingView
Bitcoin Cash, the fourth largest cryptocurrency, pumped by 8% in under two hours. The price reached $385 and the market cap hit $6.7 billion.
Source: TradingView
The amount of Bitcoin Cash transferred in 24-hours was almost equivalent to its market cap, which is massive, and in simple terms, explains how Bitcoin Cash is better than Bitcoin in terms of scaling and transaction settling.
Other altcoins followed Bitcoin’s lead as they pumped; XRP, EOS, Litecoin, and Stellar Lumens surged by approximately 6% in less than 2 hours. However, Binance Coin didn’t react to the pump in Bitcoin’s prices.
The post Bitcoin Cash, Ethereum, and other altcoins follow Bitcoin’s lead and pump by more than 6% in under 2 hours appeared first on AMBCrypto.
Source: AMB Crypto

Tools Used by Hackers to Steal Cryptocurrency: How to Protect Wallets

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Tools Used by Hackers to Steal Cryptocurrency: How to Protect Wallets
In this article, you will find out most popular tricks used to steal cryptos and get to know tools you can use to protect your wallet effectively.
Tools Used by Hackers to Steal Cryptocurrency: How to Protect Wallets

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Source: CoinSpeaker

IOTA [MIOTA] yields massive output post partnership with Avery Dennison

IOTA [MIOTA] has recently been expanding its reach by increasing partnerships with other companies. The recent partnerships with an agtech french startup and Avery Dennison have proven to be in the best interests of MIOTA. The partnership with the clothing line resulted in IOTA’s price shooting up by 52% on the seven-day time frame.
The agreement with Avery Dennison intends to produce sustainable goods and clarity in the production of the same. It was first tested out with the ALYX brand, which allowed customers to track their products in real time on the supply chain, making the production of goods as transparent as possible through the use of blockchain technology.
Priced at $0.3973 with a market cap of $1.1 billion, IOTA ranks 15th overall. Post the partnership with Avery Dennison, IOTA saw a six-month high of $0.4375, escalating from $0.2708. Although the price has come down due to the recent price pull of Bitcoin which forced the market to tread low, IOTA seems to be doing well and no drastic fall in prices was seen.
Source: TradingViewA similar partnership was seen with Jaguar and a french agtech startup OKP4 to store and share information with IOTA coins as a reward. The 52% increase can also be attributed to all of these partnerships, which accumulated overtime and showed the gross result.
The post IOTA [MIOTA] yields massive output post partnership with Avery Dennison appeared first on AMBCrypto.
Source: AMB Crypto

Ripple CTO dismisses Coin Metrics report saying it was a ‘timeline issue’, Tron [TRX] futures to soon start trading on OKEx platform and more

Crypto News – 18 May – Ripple CTO dismisses Coin Metrics report saying it was a ‘timeline issue’, Tron [TRX] futures to soon start trading on OKEx platform and more
Don’t forget to follow us for our daily videos#ripple #tron #OKEx #TRON #RIPPLEARMY pic.twitter.com/qmWcp9X2nG
— AMBCrypto (@CryptoAmb) 18 May 2019

Daily Crypto News – May 18
1) XRP-backed stablecoin: Kava Labs is developing a stablecoin, USDX, backed by XRP on a Cosmos Zone, which dynamically maintains stability to USD with decentralized mechanisms.
Read more at https://bit.ly/2HE7xAv
2) BitMEX insurance funds: While some panicked when Bitcoin crashed suddenly, others remained calm and assessed the situation. It was noticed that there was a huge sell order on Bitstamp, which pushed the price of Bitcoin by ~20% in a few minutes.
Read more at https://bit.ly/2VNgUaK
3) USDC do not exceed balance of US dollars: News revolving around the USD Coin [USDC] had taken a negative connotation when Coinbase CEO Brian Armstrong was called out for shilling the cryptocurrency. As a way to put any fears or speculations to bed, Grant Thornton LLP, an independent accounting firm released the latest attestation report on US dollar reserves backing USDC.
Read more at https://bit.ly/2Ej5dxM
4) SatoshiPay launches Solar Wallet: SatoshiPay has been working closely and designing micro-payment apps for the Stellar Network. Earlier this year, the micro-payment solution company launched ‘Solar wallet’, a stellar network-based and user-friendly desktop wallet. The Solar Wallet has proved to be user-friendly and easy-to-use and can securely manage funds.
Read more at https://bit.ly/2HrJ6HH
5) Blockstream CSO on Bitcoin: Samson Mow, Blockstream’s Chief Strategy Officer appeared in the latest Keiser Report discussion featuring Max Keiser. Talking about the satellite, Mow said that the purpose of Blockstream satellite was to provide redundancy for the Bitcoin [BTC] network.
Read more at https://bit.ly/2VvuQkY
6) HitBTC is insolvent, claim customers: According to a series of tweets by CryptoMedication, from Zerononcense, cryptocurrency analytics and research firm, the exchange is “insolvent”. The Twitter handler exclaimed his surprise that the exchange was “still in operation” as they had only 350,000 BTCs after their liquidation.
Read more at https://bit.ly/2JtlOTK
7) Weiss Ratings on Bitcoin’s price movement: Weiss Ratings, the crypto-specific rankings company, which, at times has rubbed the cryptocurrency industry the wrong way on predictions, suggested an absence of “manipulation” and termed the fiasco as a “normal market correction”.
Read more at https://bit.ly/2JrYtlE
The post Ripple CTO dismisses Coin Metrics report saying it was a ‘timeline issue’, Tron [TRX] futures to soon start trading on OKEx platform and more appeared first on AMBCrypto.
Source: AMB Crypto

4 Fintech Tools That Can Change The World Of Finance

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4 Fintech Tools That Can Change The World Of Finance
Becky Holton, education expert, professional journalist and blogger, shares her list of top FinTech tools able to not only facilitate financial operations, but to change the financial industry forever.
4 Fintech Tools That Can Change The World Of Finance

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Source: CoinSpeaker

SatoshiPay launches Solar wallet on mobile app stores for Stellar [XLM] Network

SatoshiPay has been working closely and designing micro-payment apps for the Stellar Network. Earlier this year, the micro-payment solution company launched ‘Solar wallet’, a stellar network-based and user-friendly desktop wallet. The Solar Wallet has proved to be user-friendly and easy-to-use and can securely manage funds. In order to expand their market, SatoshiPay has expanded its distributed ledger technology to mobile phones as well.
In a tweet, SatoshiPay confirmed the release of the mobile version of Solar wallet on Apple and Google Play app stores.

Hello Folks the much anticipated mobile versions of our Solar Wallet are now available in the app stores. Download the app now and expect many cool features in the coming weeks https://t.co/ukYTR4HG5j
— SatoshiPay (@SatoshiPay) May 17, 2019

SatoshiPay intends to integrate wallet and external services in order to redefine user value and experience on the Stellar Network by providing opportunities to get in touch with other blockchain-based services on the internet such as Hardware wallet support and multi-factor authentication support.
Despite the recent downtime that froze the Stellar Network for two hours which resulted in a 16% fall, XLM seemed to be doing good with a 5.25% surge in the past 24 hours, at press time.
The post SatoshiPay launches Solar wallet on mobile app stores for Stellar [XLM] Network appeared first on AMBCrypto.
Source: AMB Crypto

Roger Ver Debunks Craig Wright’s Claims that He Owns Some of the First BTC Adresses

Coinspeaker
Roger Ver Debunks Craig Wright’s Claims that He Owns Some of the First BTC Adresses
Satoshi Craig Wright sued Bitcoin Cash figurehead, and former business partner, Roger Ver for libel after being called a “fraud and a liar.” Ver responded by seemingly debunking Wright’s claim that he controlled several high-profile Bitcoin addresses.
Roger Ver Debunks Craig Wright’s Claims that He Owns Some of the First BTC Adresses

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Source: CoinSpeaker

Crypto Valley: The Most Innovative Place You’ve Never Heard Of

Coinspeaker
Crypto Valley: The Most Innovative Place You’ve Never Heard Of
While all of us have heard of Silicon Valley, Crypto Valley still seems to be quite a mysterious place for many. So what is that destination that attracts the most talented people in the crypto industry? Find out below.
Crypto Valley: The Most Innovative Place You’ve Never Heard Of

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Source: CoinSpeaker

Basic Attention Token [BAT] surges by over 9% in an hour, undergoes immediate correction

The cryptocurrency market had been keeping the crypto community on the edge of their seat. With great volatility, major cryptos like Bitcoin [BTC] had reached new milestones this week. Altcoins were not so far off in the race as Basic Attention Token [BAT] achieved a growth of over 9% in an hour on May 18.
Source: Trading view
According to the one-hour chart of BAT, the token noted a growth of 9.32% in an hour, after which it slipped further. According to CMC, the coin was valued at $0.3945 with a market cap of $497 million. The 23rd largest coin registered a 24-hour trading volume of $64 million as it noted a growth of 11.32% over the past day. Over the past seven days, the coin spiked by 9.77%.
The crypto-community was amused by the growth registered by the coin over the past few weeks. A Twitter user @Cyptolete1 exchanged his Ethereum [ETH] for BAT. The user said:
“just sold all my $ETH for a 1.5% loss and went all in on $BAT”
The sudden surge in the price of BAT can be attributed to Coinbase’s Earn project, where the users can earn crypto by learning. Along with that, the highly anticipated HTC phone Exodus 1 phone was revealed with an inbuilt feature for crypto-users to earn BAT.
BAT was highly traded on ZB.COM via the BAT/USDT pair as it noted a volume of $9.93 million. The second place was taken by Coinbit with a trading volume of $9.77 million via the BAT/KRW pair. The third place was taken by CoinBene as it reported a volume of 8.63 million via BAT/BTC pair.
The post Basic Attention Token [BAT] surges by over 9% in an hour, undergoes immediate correction appeared first on AMBCrypto.
Source: AMB Crypto

XRP Price Analysis: XRP/USD Price is Approaching a Potential Bounce Zone at $0.35

Coinspeaker
XRP Price Analysis: XRP/USD Price is Approaching a Potential Bounce Zone at $0.35
Increase in the Bears’ pressure will definitely decrease XRP price which may break the $0.35 level and target $0.32 level. In case, $0.35 level holds, the price may bounce and the trend may change to bullish.
XRP Price Analysis: XRP/USD Price is Approaching a Potential Bounce Zone at $0.35

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Source: CoinSpeaker

Coinbase May Soon Buy Xapo’s $5.5 Billion Bitcoin Custody Business

Coinspeaker
Coinbase May Soon Buy Xapo’s $5.5 Billion Bitcoin Custody Business
Coinbase is in advanced talks to buy custody provider Xapo. The deal will cost around $50 million for the US major cryptocurrency exchange. However, the decision hasn’t been made yet.
Coinbase May Soon Buy Xapo’s $5.5 Billion Bitcoin Custody Business

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Source: CoinSpeaker

Binance hack: Scammers luring people into buying ‘discounted stolen Bitcoins [BTC]’

The world’s largest cryptocurrency exchange, Binance, was attacked on May 7, and hackers stole 7,000 Bitcoins [BTC] worth $40 million. The Chief Executive Officer of Binance, Changpeng Zhao or CZ, proactively took care of the situation and shut deposits and withdrawals on the exchange, which were later resumed on May 16.
Even though the funds have not been recovered yet, another scam seems to be brewing in the shadow of these funds. A Reddit user suggested on the r/Cryptocurrency subreddit that the ‘team’ that hacked Binance was selling the stolen 7,000 BTCs, with a 70% discount.
Source: Rentry
The site claimed to provide 3 BTCs for 20 ETH and 0.2BTC for 2 ETH. This page led users to another page which informed them that the process would be completed after they add their Bitcoin address and ETH sessions.
Source: Rentry
Most users suggested that this is a scam, warning others to not buy into this scheme. One of the users commented,
“Beware of any “offer” that requires you to send large amounts of money to a stranger to get some favor in return. “
As for Binance’s stolen funds, many prominent figures from the crypto-space had offered their services to the exchange to help it in its efforts to trace the funds and retrieve them. John McAfee said,
 “If I can help at all please let me know. Underneath my clown suit is still one of the most experienced cybersecurity experts on the planet. I’ve been doing it for 51 years. I am at your service.”
Tron’s Justin Sun also pledged to donate USDT worth the stolen BTCs. However, CZ refused his help. Whale Alert, a Twitter handle that keeps an eye on the movement of tokens and coins from various wallets and exchanges, also offered to lend a hand to help Binance out. The Twitter handle tweeted,
“ We have added special warnings for the Binance Hack! If anyone tries to move the stolen #BTC, you’ll be the first to know!”
The post Binance hack: Scammers luring people into buying ‘discounted stolen Bitcoins [BTC]’ appeared first on AMBCrypto.
Source: AMB Crypto