Pornhub is Accepting Two New Cryptocurrencies

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Notable News


Pornhub to Accept Tron Cryptocurrency, Whose Founder Just Bought BitTorrent

What's the Story?

  • Pornhub is now accepting Tron
  • Tron recently acquired BitTorrent and has been trying to expand adoption
  • Pornhub is also accepting a cryptocurrency called ZenCash

What do I think?

Strange choice for Pornhub to accept Tron and ZenCash. Z-Cash and Monero would be a more logical choice because of their privacy aspects. I don't have any proof, but I wouldn't be surprised if Tron and Zencash paid Pornhub to be added. It's the most logical explanation. Tron is using the millions of dollars it's raised to try to raise its token price artificially. It's why it bought BitTorrent, and it's most likely why Pornhub added Tron. If someone is going to buy Pornhub Premium, I don't see the benefit of purchasing with Tron. Let's think about the steps it would take to purchase Pornhub Premium with a credit card versus with Tron.

Credit Card:

  1. Log on to PornHub
  2. Enter Credit Card Information
  3. Complete Purchase

Tron:

  1. Create a Coinbase Account
  2. Buy Bitcoin on Coinbase
  3. Create an account on Binance
  4. Send Bitcoin to Binance
  5. Buy Tron on Binance
  6. Log on to Pornhub
  7. Send Tron to Pornhub
  8. Wait for confirmation
  9. Complete purchase

Maybe it's just me, but I think a credit card is the easier payment option.


Facebook is reversing its ban on some cryptocurrency ads

What's the Story?

  • Facebook is allowing specific cryptocurrency advertisements
  • Ads promoting ICOs are still banned
  • Facebook launched a blockchain team earlier this year

What do I think?

I am excited to see James Altucher's face plastered all over Facebook again. What an excellent time to be alive. On a more serious note, this decision was most likely driven by David Marcus, head of their blockchain team and former CEO of PayPal, to show Facebook takes cryptocurrency seriously. I am surprised the ban was reversed so soon. Google also has a prohibition on cryptocurrency advertising. One could make an argument that Facebook is trying to get a headstart on capturing market share as they acknowledge that blockchain and cryptocurrency are here to stay. The most straightforward reason is that Facebook makes more money by accepting cryptocurrency advertisements. 


Commentary


PBoC Filings Reveal Big Picture for Planned Digital Currency

What do I think?

Cryptocurrency is a threat to state actors and fiat money because it takes monetary policy out of the hand of central banks. If a government loses control of money, they lose control of their government. For China, it would be disastrous if Bitcoin or another cryptocurrency replaced the Yuan as a primary method of payment. Bitcoin's rise is why China is attempting to launch a digital currency. I've talked about the benefits of a digital national currency in the past. If a country had an official digital currency, it allows the government to track a person's assets, eliminate crimes like money laundering, and automate tax payments. If China launches a digital currency, expect an even larger crackdown on cryptocurrencies. They will want to ensure no competition so that their digital money can succeed. 


Other Interesting Things


ING publishes an in-depth report on Bitcoin, The Federal Reserve Bank is tracking cryptocurrency, Bitmain nears 51% hashrate for BTC, crypto hedge fund adds a Wall Street executive, Bitcoin has a new use case: heating housesblockchain + patents, and cryptocurrency influencing elections.