vendredi 24 janvier 2020

What Is the Ideal Block Size and Fee Cost?

Many of the debates around block size in Bitcoin operate under the false premise that the question can even be properly answered by a central authority. But markets are better at deciding these questions and block sizes and fee costs should be worked out by miners and users, not development committees.

Also read: How is Bitcoin Cash Different from Bitcoin Core?

Price-fixing doesn’t work

Dan Held writes in his latest Medium post:

A decentralized economy complements the dispersed nature of information spread throughout society. Each company is an attempt to take the local knowledge that it has and create a good or service that ultimately is the correct capital allocation (aka profit).

This is correct, which makes me think he must not understand the point he’s trying to make, because Held also argues that Bitcoin developers must impose production quotas on block space in order to maintain an ideal block size in Bitcoin and ensure miner profitability and network security.

Price fixing like this breaks Bitcoin for the same reason any form of price-fixing doesn’t work. It distorts the local information economic actors have that would allow them to properly allocate their own capital and energy. This often leads to an overproduction of a particular economic good and an underproduction of another, or, bloat and shortages.

In Bitcoin, the result of this central planning of block space are externalities like the mempool congestion of 2017 that effectively plunged BTC into a two-year dark age of stagnating prices and regressing merchant adoption.

It was the predictable outcome of a tiny developer committee overprioritizing ‘security’ instead of letting the whole market work out exactly how much security is really needed to protect the network while allowing fees to remain low enough for users and merchants to continue using Bitcoin as peer-to-peer electronic cash.

We Don’t Need to Know

A market can work instead to govern block sizes and transaction fees better than a committee of developers. We don’t need to know the ideal block size or the ideal transaction fees in advance, or even worry about it, because the market will tell us. All that is necessary is to remove the arbitrary limits imposed by developers and to allow all the transactors on the network and all the miners to work out the cost of fees and the “ideal” size of the blocks themselves.

This is how Bitcoin was designed, markets, not developer cartels making decisions for everyone on the network. And it is the reason Bitcoin Cash originally forked from BTC. It wasn’t simply block size as such, though they were certainly too small, it was the way block size was being centrally planned by developers instead of being decided by the real economic actors in the market.

As Hayek wrote in “The Use of Knowledge in Society”:

A centrally planned economy could never match the efficiency of the open market because what is known by a single agent is only a small fraction of the sum total of knowledge held by all members of society

It works in Bitcoin like this.

A. Miners want to make the most money off of fees possible while reducing risk and cost of doing business.

B. Users want to get the cheapest and fastest deal on block space possible.

C. Both parties know their own interests better than any developer could sitting outside of their exchange.

If blocks are too big, miners might assume unnecessary cost and risk, or cause security or syncing issues with the broader market of businesses involved in Bitcoin running their own nodes. If blocks are too small, miners limit their profitability and the potential growth of the network. If fees are too low, miners can’t make money. If fees are too high, miners won’t make much money either because users will simply stop transacting.

Somewhere in between the needs of the miner and the user, there is an answer to the ideal transaction fee and the ideal block size. Neither too big nor too small, neither too cheap nor too expensive. There may be some problems here and there, and the planner’s temptation is to try to predict those problems and stop them in advance, but this is the only way these questions can be decided if we want the network to scale globally. They cannot be decided by committees, Telegram chats, Reddit threads, Twitter arguments, or community polls, and attempts to centrally plan answers can lead to unintended consequences because they cannot possibly coordinate all of the local information independent economic actors in Bitcoin have.

In BTC, for example, we can’t know the answer because the limits imposed by Core developers prevent this discovery process from happening. Until they are removed, BTC will continue to struggle growing, because artificial limits on scaling create artificial limits on demand potential.

Leave it to the market. It knows better than us.

Sound Economics

The opportunity for an economically rational Bitcoin free from production quotas on block size, price-fixing on fees, and developer committees has never been better.

Bitcoin Cash was created in 2017 to be that fork, and decision-makers in Bitcoin Cash should remember that an economically sound roadmap is as important as a technically sound one. They should resist the temptation to over-plan the economic activity of the network lest they create the same problems that plague the BTC branch of Bitcoin. They should allow a real market for block space and fees to develop.

The fork of Bitcoin that wins mass adoption will be the one that recognizes that there is no ideal transaction fee and no ideal block size. There is only the market and economic actors in that market making rational, self-interested decisions.


This article was originally published on Breaking Satoshi.

Op-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

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Ten ways PrimeXBT’s advanced tools can bolster ROI

Traders rave about PrimeXBT because they love the platform’s trading tools and built-in charting software, but the real reason they can’t stop clamoring about the platform is because of the ROI they regularly churn out of their trading strategies.

After all, a trader’s main goal is to turn a profit and grow their capital as quickly and as safely as can be, and few platforms offer trader’s the tools to generate returns consistently while keeping risk to a bare minimum.

Here are the top ten ways traders are using PrimeXBT’s advanced trading tools to squeeze more profits out of the market than ever before and bolster their ROI.

Low Trading Fees

Not all trades are home runs, and for those smaller victories, oftentimes they can seem that much smaller after broker fees are taken, and all that’s left is a measly profit. Traders regularly get frustrated that a large portion of their profits go right back to the broker, causing many who have yet to master the market to give up preemptively.

PrimeXBT offers some of the lowest trading fees and overnight financing fees in the entire market. Low fees means more profit back in your pocket, and much more motivation to keep trading.

Ultra-Fast Order Execution

When you see the perfect setup, you don’t want to wait to get an entry and risk missing out on the ideal price point. PrimeXBT’s ultra-fast order execution ensures when you choose market buy or sell, the order is executed immediately, at the price that is currently displayed, with no delays.

Stop or limit orders also trigger the moment a price is reached, without fail, even during times of extreme volatility thanks to the platform’s reliable trading engine.

Minimal Spreads Between Bid and Ask

Getting the right entry or exit is one of the most important parts of a successful trader’s strategy and can make the difference between profits or getting stopped out at a loss.

PrimeXBT’s offers some of the tightest spreads across the market, and orders trigger with no slippage, ensuring the price you want is the price you get.

Built-In Charting Tools

Markets are tricky, but those that regularly perform technical analysis can usually gain a competitive edge against traders that don’t. Rather than having to rely on a third-party service, traders on PrimeXBT can use the built-in charting tools with dozens of the most commonly used indicators that professionals swear by.

Indicators include the MACD, RSI, Bollinger Bands, Williams Alligator, and many others. In addition, orders can also be placed directly from the chart itself, for the most accurate entries and exits.

Advanced Order Types

Thanks to PrimeXBT’s built-in charting tools, you’ll always know where or when you want to enter or exit a position.

Using the advanced order types offered by the platform, including stop-loss and take profit orders, traders can easily keep any risk to an absolute minimum, and maximize profits by ensuring profits are taken when key levels are reached.

Open Hedge Positions

Finding a short position in profit, but your gut and indicators tell you that the market may be turning around? With PrimeXBT, you can hold both short and long positions simultaneously to hedge against reversals without sacrificing profit.

Advanced traders can also build a portfolio using anti-correlated or uncorrelated assets to further hedge their trades.

Progressive Discount System

As if the fees weren’t low enough, PrimeXBT ups the ante by offering a multi-level progressive discount system to reward the platform’s most active traders with more profit in their pockets.

Traders with 300 BTC to 600 BTC turnover will receive a 25% trading fee discount, while those with over 600 BTC turnover will get a massive 50% off discount. A trader’s progress toward each level can be tracked in the website’s account dashboard, encouraging traders to keep trading and grow their discount levels.

Gear Profits With Up to 1000x Leverage

One of the biggest draws of PrimeXBT and the largest way in contributes to growing a trader’s ROI significantly and quickly is by offering up to 1000x leverage on the assets offered on the platform.

Leverage multiplies a position by a factor of up to 1000x, meaning any profits generated are also magnified by up to 1000 times.

Grow Referral Network For Added Revenue Stream

Those that want to take their earnings to the next level, and really bolster their ROI, should aggressively seek to grow their affiliate network through PrimeXBT. Their referral program is a four-level system, where each you earn a portion of the fees of not only each new referral,, but any new referrals your referrals sign up as well – up to four levels deep.

There’s also a CPA program, or for those with large followings, a combination of the two for the greatest possible revenue stream.

Build the Ideal Portfolio

Markets are on fire lately, with traditional stock indices reaching local highs, Bitcoin rallying over 40%, oil exploding in value over growing concerns in the Middle East, and safe-haven assets like gold are beginning a new bull run.

It’s the perfect time for traders to profit from a variety of markets at once, and build a portfolio across crypto, forex, commodities, stock indices, and more.

Summary

While this list of features is already exhaustive, it’s still only scratching the surface of the wealth of profit-generating tools traders can use to regularly improve their ROI when using PrimeXBT.

With up to 1000x leverage, traditional and digital assets, and the most advanced tools around, it’s no wonder why traders everywhere gloat about their earnings using the platform.

The post Ten ways PrimeXBT’s advanced tools can bolster ROI appeared first on CryptoSlate.

jeudi 23 janvier 2020

Ethereum could be primed for a move to over $200 despite ongoing selloff

Ethereum (ETH) has been closely tracking Bitcoin’s price action over the past couple of weeks, which allowed it to post massive gains throughout the first part of the month, before setting a local top that has been followed by firmly bearish downside.

In spite of this, analysts are noting that Ethereum is fast approaching a key technical support level that is brimming with buy orders, which means that a visit to this level could catalyze a move to $200 or higher.

Ethereum reels towards $160 as crypto markets begin establishing downtrend

At the time of writing, Ethereum is trading down just under 3 percent at its current price of $161.80, which marks a notable decline from its daily highs of $166 that were set around this time yesterday.

Over a slightly larger timeframe, it becomes apparent just how notable the cryptocurrency’s recent downtrend is, as it is currently trading down from intra-rally highs of nearly $180.

This poor price action has led the cryptocurrency to retrace over 10% from these highs, which has come about in tandem with Bitcoin’s fall from highs of $9,200 to its current price within the lower-$8,000 region.

It is important to note that Ethereum has formed a bullish technical formation on its weekly chart, which Satoshi Flipper – a popular crypto analyst on Twitter – explained could lead the crypto up towards highs within the $300 region after one more sharp pullback.

“ETH Weekly Heikin Ashi = Bullish,” he said while pointing to the formation seen on the below chart.

Ethereum ETH
Image Courtesy of Satoshi Flipper

The next ETH pullback could spark a violent upwards movement

Satoshi Flipper is not alone in believing that Ethereum could see one more pullback before it posts a massive rally, as Calmly, another respected cryptocurrency analyst, noted that he is eying a pullback to $155 before it rallies to $180 or higher. He explained:

“Ethereum / ETH – I’m still not convinced we see bullish continuation yet. Last time we were at this weekly s/r lvl, we consolidated for 12 weeks before finally breaking down. I think it will take more than one test of this lvl for it to break. I expect to see ~$155 before $180.”

Ethereum ETH
Image Courtesy of Calmly

Although ETH’s ongoing selloff may cut slightly deeper, it is likely that this will act as a catalyst for further gains.

The post Ethereum could be primed for a move to over $200 despite ongoing selloff appeared first on CryptoSlate.

Gift Bitcoin Cash for Chinese New Year With a Limited Edition Red Envelope Paper Wallet From Bitcoin.com

Gift Bitcoin Cash for Chinese New Year With a Limited Edition Red Envelope Paper Wallet From Bitcoin.com

Giving red envelopes full of money to friends and family is a traditional way to celebrate the Lunar New Year in China and other Asian cultures. This year you can gift your loved ones bitcoin cash with a limited edition Red Envelope BCH paper wallet from Bitcoin.com.

Also Read: Bitcoin Games Celebrates Lunar New Year 2020 With Introduction of Free Spins

Say Happy Lunar New Year With Bitcoin Cash

The Lunar New Year festivities will begin as a new moon appears on Saturday, 25th January 2020. To celebrate the holiday, Bitcoin.com has developed a limited-edition themed paper wallet for Asian BCH users to gift as a Red Envelope.

If you are not familiar with this feature, a paper wallet is a physical way to store digital assets. You can load any amount of crypto on a wallet like that and whoever has the piece of paper with the private keys can easily redeem the funds. Once the wallet is made and you have sent funds to it, it is essentially like cash, so remember to take any precautions necessary to ensure it stays safe until needed.

Generating a Red Envelope couldn’t be easier. Once you click on the ‘Create one’ button all you have to do is move the cursor around for a short while to create generate randomness and the service will quickly create a new wallet address for you. Then you simply select the Chinese New Year 2020 limited edition design, customize it as you see fit, print it out and that’s it: three simple steps and you’re good to go.

Gift Bitcoin Cash for Chinese New Year With a Limited Edition Red Envelope Paper Wallet From Bitcoin.com

To create your own limited-edition holiday themed bitcoin cash paper wallet to gift, click here. To load up the paper wallet with bitcoin cash, send the amount you would like to give to the public address by scanning the QR code with your wallet.

If you don’t already own BCH to gift in your Red Envelope, you can get it easily through our website on Buy.Bitcoin.com. Alternatively, if you’re comfortable with more advanced trading platforms, you can also purchase it through our premier cryptocurrency trading platform Exchange.Bitcoin.com or directly from other traders like yourself on Local.Bitcoin.com.

How to Redeem or Safely Store a Paper Wallet

On the receiving side, redeeming bitcoin cash from a Red Envelope is quite easy. If they don’t already have one, they will need to download a crypto wallet that supports Bitcoin Cash and just use the app to scan the QR code of the private key on the Red Envelope. The funds can then be swept from the Red Envelope to the digital wallet.

If they want to redeem the Red Envelope right away, they can either download the Bitcoin.com Wallet desktop app or the Electron Wallet desktop app. Alternatively, if they are not in a rush to redeem the Red Envelope, they can wait until we release a new version of the Bitcoin.com Wallet app for mobile which supports this function (coming soon).

For anyone looking to load large amounts of money into their paper wallet, or just eager to learn more about the best way to protect their digital assets, our paper wallet portal provides instructions for attaining a high level of security. This entails downloading the generator and running it on a safe system that you trust without being connected to the internet. The paper wallet itself should be stored in a safe place, such as a safe deposit box or a room only the owner has access to, where it can’t be hurt by fire or flooding just as you would store fiat paper cash worth the same amount.

What do you think about gifting the Bitcoin Cash Red Envelope for Chinese New Year? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Gift Bitcoin Cash for Chinese New Year With a Limited Edition Red Envelope Paper Wallet From Bitcoin.com appeared first on Bitcoin News.

Millennial and Male: 3 Crypto Card Issuers Profile Their Average User

Millennial and Male, 3 Crypto Card Issuers Profile Their Average User

Platforms offering debit cards that can be topped up with cryptocurrency have enjoyed growing popularity in the crypto community. They provide a payment solution for those who earn and own digital coins, enabling in-store and online crypto payments. Their expanding user base provides a snapshot of the kind of people who spend crypto on a daily basis and what they like to buy.

Also read: Crypto Debit Card Targets Generation Z With a Promise of Financial Freedom

Highly Educated, Overachieving Foodies

Three European companies with crypto card products shared what they know about their users with news.Bitcoin.com. Madrid-based fintech startup 2gether provides banking services to residents of the Eurozone through its mobile app. The company issues a debit Visa linked to its wallet which supports about a dozen cryptocurrencies. Major ones such as BTC, BCH, ETH, and XRP account for over 90% of the platform’s crypto payments. Its customers can spend them like they would traditional currencies and also withdraw cash at ATMs through conversion to fiat. 2gether recently released statistical data profiling its crypto card users and their spending habits.

Millennial and Male: 3 Crypto Card Issuers Profile Their Average User

The debit card allows holders to pay with cryptos and euros, which 37% and 63% do respectively. The everyday crypto user is a highly educated millennial male, shows the analysis of the spending behavior of more than 10,000 customers. The majority of cryptocurrency spenders, 56%, are between 26 and 45 years old and 77% of them are male. The most common professions among them are lawyers, accountants, and economists (15.64%), followed by students (11.20%), operators and transporters (9.82%), and senior executives and businessmen (8.82%), the company detailed this week.

The study covers a period from April to December 2019 and 19 Eurozone countries where the crypto card is available. It’s mostly used at restaurants and hotels (32.71%), supermarkets and grocery stores (19.13%), and to pay communication bills (11.91%) and transport expenses (11.85%). On average, users spend €112.56 worth of cryptocurrency monthly and €132.65 in fiat. “In comparison with European consumption habits based on euros, the consumption at restaurants and on food receives fourth place in the ranking, with house supplies being the first expense,” 2gether noted, quoting information from Eurostat. CEO Ramon Ferraz further commented:

It is extremely beneficial for us at 2gether to know exactly who our customer is and how they change every year. Our goal is to enable the mass adoption of cryptocurrency and enable users to spend crypto in their everyday life. This data we’ve compiled takes us one step closer to making our goal a reality in 2020.

Millennial and Male: 3 Crypto Card Issuers Profile Their Average User

Bitsa is another European platform striving to provide an alternative to traditional banking. It offers prepaid Visa cards linked to a mobile wallet that can be topped up with cryptocurrencies like bitcoin cash among other payment options. BCH, BTC, LTC, DASH, XLM, XRP, and ZEC can be deposited and converted to euros to spend the balance in stores and online. The Bitsa cards come in virtual and plastic forms and there’s also a product targeting Europe’s Generation Z, Bitsa Young, which allows parents to order a card for their children and provide them with some financial freedom thanks to crypto.

Although it issues its cards through the same partner, the Spanish regulated electronic money institution Pecunpay, Bitsa takes a different approach. The Monaco-based company tracks less card usage data and isn’t very keen on revealing what it knows for a good reason. “We don’t have it because it’s private and we take the privacy of our users very seriously,” CMO Roberta Quintiliano explained. Nevertheless, she was kind enough to pull the curtain a little bit for news.Bitcoin.com and share that the majority of Bitsa users, 74.5%, are aged between 25 and 44 years old and 75.8% are male. The majority of Bitsa card holders are people interested in technologies and mobile applications, she added.

Groceries, Fast Food, Coffee and Travel

A report on crypto card usage in Europe wouldn’t be complete without taking a look at the numbers gathered by a major player. U.K.-based Wirex has over 3 million registered users across 130 countries and has processed more than $3 billion in transactions to date. The platform allows users to spend leading cryptocurrencies such as BTC, LTC, ETH, and XRP among 10 digital coins.

Around 60% of Wirex Visa card users are millennials, aged between 18 and 37, and approximately 39% are members of Generation X, between the ages of 38 and 53 years old, revealed Amelie Arras who is responsible for PR and media communications. An analysis conducted by Wirex in 2018 showed that people choose its platform for the convenience and versatility it offers and because it allows them to pay with either regular fiat currencies or cryptocurrencies.

Millennial and Male: 3 Crypto Card Issuers Profile Their Average User

The service lets crypto enthusiasts exchange their digital currency in-app and spend it anywhere Visa is accepted. Arras also emphasized that “This is reflected in how people use Wirex. It’s particularly suited to those who frequently travel and who therefore want a single place to manage multiple currencies and get the best market rates when exchanging them.” Grocery stores, fast food outlets, coffee shops and travel are at the top of the spending charts for Wirex cards, with a split of roughly 25% online and 75% in-store. Around 80% of account deposits are made in cryptocurrency.

The latest 2019 data available shows that 25% of all currency transactions, fiat and crypto, were recorded in the United Kingdom, followed by Italy with 13%, Spain and Germany with close to 10%, then France with 7%. Around 21% of all crypto to fiat exchanges were made in the U.K., followed by Italy with 14%, Spain and Germany with 10%, and France with 8%. At Wirex, BTC is the most traded coin, representing close to 70% of all crypto conversions, and almost 50% of all currencies, followed by the euro with 20% of all exchanges, then the British pound and ethereum – below 10%. The top five currencies frequently spent by Wirex users, historically and in 2019, are BTC, EUR, GBP, ETH and USD.

What are your thoughts on the data provided by these crypto card issuers? Do you use a debit card that can be topped up with cryptocurrency? Tell us in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock, 2gether.


Do you need a reliable bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy bitcoin with a credit card.

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MyEtherWallet adds “.crypto” email-style naming feature for personalized ETH addresses

MyEtherWallet (MEW) users are now able to send and receive ETH and ERC-20 tokens using their own personalized “human-readable” address instead of the standard 42-character public key. 

Unique addresses can be created on MEW in the form of “[name].crypto,” powered by Unstoppable Domains, a blockchain registry startup funded by Draper Associates and the Ethereum Foundation. Unstoppable Domains CEO Matthew Gould commented:

“Blockchain domains enhance the payment experience for cryptocurrency users. Our collaboration with MEW allows users to replace complicated crypto addresses with human-readable names. This is an important step towards onboarding the next billion people into cryptocurrency.”

San Francisco-based Unstoppable Domains has to date integrated its “.crypto” address feature into 15 different wallet applications including Binance-owned Trust Wallet, IM Token, and Zilliqa wallet ZilPay, and as a result of the new tie-up with MEW, will be offering its existing user base MEW tools like token swaps and the MakerDAO DeFi portal. 

Wallet partners
Supported wallets – Unstoppable Domains

In practice, when users type a recipient’s “.crypto” string into MEW, the wallet automatically searches the Ethereum blockchain for the address registered to that domain and inputs said address. The domains also double as names for Ethereum-based websites, and unlike conventional domains do not require renewal or escrow agent to facilitate the transfer of ownership.

MEW CEO Kosala Hemachandra said in a press release the initiative will make the user experience “easier and friendlier,” while making it significantly harder for funds to be sent to the wrong address.

The post MyEtherWallet adds “.crypto” email-style naming feature for personalized ETH addresses appeared first on CryptoSlate.

Paypal Pullout Prompts Pornhub to Add Tether as Payment Option for Its Adult Models

Following Paypal Pullout Pornhub Adds Tether as a Payment Method for Its Adult Models

The porn industry is seen by many as a perfect fit for widespread cryptocurrency usage as it suffers from financial censorship far more than most businesses. When Paypal stopped servicing Pornhub models, the company hinted it might turn to digital currency as an alternative and now this has been accomplished with the Tether stablecoin USDT.

Also Read: Pornhub Suggests Crypto Payments After Paypal Censors Model Payouts

Pornhub Turns to Tether as Payment Method

Pornhub, part of the Canada, Montreal-headquartered online adult entertainment conglomerate Mindgeek, has announced that they have added three new payout methods for their models including USDT. “Since PayPal’s decision to stop payouts to thousands of Models two months ago, we’ve been hustling to start the new year on a good note and offer you more options to make things a little easier,” the company’s support team explained in a blog post.

The post explained the function of the stablecoin, to follow the price of the US dollar, and guided Pornhub models to download a Tron wallet to receive USDT payments. Tether’s USDT has been growing rapidly on the Tron network since the stablecoin expanded to the blockchain and TRC20 tethers made up almost 22% of the total supply of tokens as of the beginning of the year.

Justin Sun, the founder of Tron, stated on social media: “If you’re on Pornhub, stop what you’re doing. USDT is now an option for models on Pornhub! Pornhub is using USDT-TRON to support models seeking payment solutions. This is a brilliant way to support the victims of centralized payment platforms like Paypal.”

Besides this noble ambition, Sun seems to have a focus on expanding crypto payments in online video services as he also recently took control of live streaming platform Dlive. He said at the time “Think of how valuable live streaming content is already to centralized social media platforms who take ownership and advantage of their users’ hard work.”

 

In November 2019, we reported that Paypal had blocked Pornhub payouts for the adult performers who use the site’s platform for a living. Back in 2018 Pornhub started to accept a few cryptocurrencies as payments from its users including verge, tron and horizen.

“Here at Pornhub, as one of the most viewed websites in the world with over 90 million daily visitors, it’s important that we continue to expand our crypto payment options to align with our community’s growing payment preferences. Decentralized payment systems have continued to grow in popularity, and cryptocurrency adoption is exploding across a broad economic spectrum. Today, cryptocurrencies are especially viable in the adult entertainment industry because they are privacy-centric and incorporate more anonymity tools than traditional tender,” Corey Price, VP of Pornhub, said at the time.

What do you think about Pornhub starting to pay its adult models using tether? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

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