Bitcoin is now 25% of Porn.com’s incoming payments

Bitcoin payments are responsible for a quarter of Porn.com’s purchases. Leading adult portal Porn.com began accepting Bitcoin as a form

Bitcoin payments are responsible for a quarter of Porn.com’s purchases.

Leading adult portal Porn.com began accepting Bitcoin as a form of payment in late December 2013. The news of the adult service supporting the cryptocurrency quickly went viral after it was posted on the Bitcoin section of Reddit in the beginning of this month. The gamble seems to have paid off, and according to Marketing Director of Sagan Ltd. (Porn.com’s parent –company) David Kay, Bitcoin related payments are now 25% of all incoming transactions. Kay also went as far as mentioning “porn is Bitcoin’s killer app”.

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“Privacy and confidentiality are paramount when joining an adult service for the majority. In general you can surf porn.com for free, anonymously but if you want to upgrade to the premium services you have to enter a method of payment which historically has been a credit card. In order for the transaction to process you have to include your full name and address. This is not necessary with BTC,” Added Kay in a press-release.

As much as Bitcoin and the adult industry seem like a perfect fit due to the anonymity and transaction process, some payment aspects are difficult to implement. Subscriptions and reoccurring payments are not yet possible with Bitcoin, resulting in one time small amount payments. A processing fee of 0.0001 BTC is also implemented on every transaction made. Kay mentioned the company is not concerned by these minor drawbacks.

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“Our experience has been positive using BTC for smaller payments. I think the general public as a whole doesn’t yet know that you can spend just a portion of a Bitcoin on a purchase,” Kay added

In result of the fast return after accepting Bitcoin, Sagan Ltd. has decided to put the Porn.com domain name up for sale. Sagan is requesting the amount of $50 million in Bitcoin (roughly 55,370 BTC) in exchange for the domain name. In 2007, Porn.com was one of the most expensive domain names and sold for $9.5 million, coming behind Sex.com which sold for $12 million.

 

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