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XVG Verge and Pornhub Marriage Not Going Well

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Back in early April, the team at XVG Verge had a well-kept secret as to which firm was their new big partner. As soon as the announcement was made that Pornhub would be accepting subscription payments using XVG, the crypto community rejoiced for this was a step forward in terms of crypto adoption. Some crypto enthusiasts even put aside their morals and looked past what the Pornhub platform is all about. All were enthusiastic for they knew that the porn industry is worth around $97 Billion dollars and Pornhub has over 90 Million daily unique visitors. This, in turn, meant that XVG Verge would get the spotlight on a wide and busy platform.

Crypto accounts for Less than 1% of Pornhub Payments

Almost six months after Pornhub started accepting XVG Verge and other cryptocurrencies on the site, a new report has revealed that less than 1% of payments on the site are actually transacted using digital assets. This is even after Pornhub partnered with crypto payment processing startup of PumaPay to make the user experience more efficient.

Still Too Early to Conclude ‘The Marriage’ Between XVG Verge and Pornhub has Failed

Six months is a short time period to determine if crypto payments have failed to take off on the adult site. Judging by the fact that Bitcoin was created in 2009 and it has only started to be recognized as a means of investing, it could take a few more years before crypto payments are as natural and automatic as using your VISA or Mastercard.

A spokesperson of Pornhub remained optimistic about the future:

That being said, we expect to see widespread adoption of crypto[currency] and blockchain on our site in the near future

Possible Solutions for the Adult Industry

One possible implementation of blockchain technology in the adult film industry is probably tapping Project Atlas from the team at Tron and BitTorrent. The project aims at incentivizing users using a custom token so you can request faster downloads as well as have users run clients to seed torrents for longer periods.

With adult movies and clips being created by the minute, the burden of centrally storing all these files will become cumbersome for Pornhub and other adult sites. This then brings the option of distributing storage on the machines of subscribers who will be rewarded with a certain amount of privileges or tokens, for the platform to store some files onto their personal computers or servers that will remain online all the time.

Of course, this is pure speculation but we have to remember that behind any brilliant invention, is a crazy idea. The above idea seems crazy enough to work.

In conclusion, crypto adoption is slowly but surely making strides in the adult film industry through the use of digital assets as a means to pay for subscriptions as can be seen on Pornhub. As the future progresses, cryptocurrencies and blockchain technology will surely make an impact on the industry. We also have to remind ourselves that the payment processor of PumaPay is still in the development phase and the project is yet to integrate on Pornhub. Once live, PumaPay is sure to accelerate crypto payment and billing all over the crypto-verse.

Check out the Global Coin Report talk show as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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