The porn industry and crypto love affair continues, to many people’s delight. Charlie Lee, after mocking PornHub for choosing Verge as partners, has – perhaps accidentally – got Litecoin registered as a payment method on VRporn.com.
After Verge announced its partnership with PornHub in April after a huge fundraiser, there was general adulation from crypto and porn enthusiasts alike – as you can imagine, quite a male-dominated party. Adoption by the porn industry has marked the beginning of mass adoption for many technologies before: video-streaming and the internet itself are worth a mention here.
However, Litecoin founder and crypto hot-potato Charlie Lee was not so convinced. He took to twitter to air his view on what was going on:
“Turns out Verge’s super expensive partnership was PornHub. “we think it has gained enough steam for us to penetrate the market.” penetrate. @Pornhub, enough with the foreplay. Time to accept the real cryptocurrencies like BTC, LTC, and XMR.”
Whilst it is generally seen as a good thing when cryptocurrencies are adopted by merchants, it is nevertheless problematic when these relationships are too exclusive. Lee has stated that “It’s quite hard for people to get XVG just to spend on PornHub. It’s a step forward, but having to buy a partner is not a good precedent. Merchants shouldn’t need to be bribed…”
However, it seems Lee’s wishes have been granted – sort of. About a month after he told PornHub to stop with the foreplay, VRporn.com, a website that offers – you guessed it – a virtual reality porn experience, began to accept Litecoin as a payment method for its premium product, in addition to PayPal and credit card. Whether Lee intended this to happen remains unclear.
These are important steps in the crypto community. Litecoin is one of the most widely available cryptocurrencies and is much easier to buy than Verge making its potential for usage is much greater. Diversifying use-cases and forming attachments with mainstream merchants is one of the most important things that must happen if adoption is to take place. Whilst porn may not be at the top of everyone’s list for crypto use-cases, each way that crypto can be used brings potentially more new investors into the community.
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Alex has been putting words on paper since he was old enough to hold a pen; when he bought his first bitcoin in January 2017, those words discovered their place within crypto as well. He holds a master’s degree in international relations from Leiden University in the Netherlands, and his special expertise lies in European cryptocurrency regulation.