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

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term 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”.

"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.

"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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