Business Status of crypto billing for adult industry

[TheAccountant]

What's the status the billing using crypto for the adult industry?

Few years ago some companies tried to introduce payment in btc or/and eth but it wasn't successful. What's the status these days?

Thinking - as a testing side project - to start some paysites accepting crypto only. Testing side project = if it doesn't make a dime it's not a problem.

Regards

[zijlstravideo]

I can remember reading a quote from an adult platform using SpankPay, forgot which site it was (believe it was justfor.fans, but could be wrong), but the owner said around 1% of all payments was made in crypto.

[Hinc]

There are some sites here and there accepting crypto - trouble is it can´t be recurring so better suited for other stuff than paysites exactly I guess

[trevesty]

I know of a few decently sized pay sites who tested it for a couple months and the juice wasn't worth the squeeze. One of them, it was about 0.75% of all transactions. It didn't even pay for the dev's time to implement it.

[TheAccountant]

Originally Posted by trevesty

I know of a few decently sized pay sites who tested it for a couple months and the juice wasn't worth the squeeze. One of them, it was about 0.75% of all transactions. It didn't even pay for the dev's time to implement it.

The idea is to offer crypt payment ONLY.

[Cyber Fucker]

The adoption seems still slow, in adult especially, but imo it's just a matter of time..

[jscott]

I still believe everyone would be doing themselves & their customers a favor by accepting Bitcoin Lightning Network payments through Strike or BTCpayserver.org
Transactions are free/instant ;)

[lock]

There has been crypto dedicated to adult and they bailed.

[MaDalton]

it's not gonna work.

end of story.

[Hinc]

Originally Posted by MaDalton

it's not gonna work.

end of story.

Why? For VOD, camming, dating etc it should be usable out of the box once adopted by the buying punters ... for recurring sales its a technology question if that becomes possible

I see more upsides than downsides in the long run - more anonymity in the purchases might appeal to porn buyers for instance

[digitalfantasies]

Originally Posted by Hinc

Why?

Because building a succesful paysite accepting multiple payment methods already isn't easy.
If you start a paysite accepting only crypto you immediately shrink your potential customer base by 95%

Offering crypto besides regular methods can be a welcome extra, but offering only crypto is pointless

[Hinc]

Originally Posted by digitalfantasies

Because building a succesful paysite accepting multiple payment methods already isn't easy.
If you start a paysite accepting only crypto you immediately shrink your potential customer base by 95%

Offering crypto besides regular methods can be a welcome extra, but offering only crypto is pointless

Oh sure, that is obvious.

The paysite model specifically is the hardest for crypto to accommodate as the technology stands...and it would be silly to not offer payment methods that users want to use. Using only Crypto would be equal to offering only MC and refusing to accept Visa - plain silly and counterproductive (that would only make sense if wanting to sell something Visa and/or MC refuse to approve which likely makes it a shaky project either way).

But. As crypto adoption spreads among potential buyers it might play an increasingly important role in the mix of billing options...

[MaDalton]

Originally Posted by Hinc

Why? For VOD, camming, dating etc it should be usable out of the box once adopted by the buying punters ... for recurring sales its a technology question if that becomes possible

I see more upsides than downsides in the long run - more anonymity in the purchases might appeal to porn buyers for instance

I don't know if you ever had to deal in person with the standard internet porn user (or "punter" - as you say) who has already difficulties using a credit card and remembering his password?

This won't work unless it becomes as easy and instant as a credit card payment. And we're far from that.

[Hinc]

Originally Posted by MaDalton

I don't know if you ever had to deal in person with the standard internet porn user (or "punter" - as you say) who has already difficulties using a credit card and remembering his password?

This won't work unless it becomes as easy and instant as a credit card payment. And we're far from that.

Yeah I know, I had 20 years as the owner of a stack of paysites. I think i´ve heard every weird kinda problem people might have with paying, logging in and Gawwwd knows everything else

But that is where I see crypto as a potential step forward actually. The CC´s have innovated very little & actually made it harder to pay online over the past 2 decades ... "easy & instant" by crypto on the other hand is in fact just a tiny piece of software by an independent developer away -> instant is built in if you auto-convert to the correct currency, easy is simply a strong gateway

Will it be too complex for some? Sure - tying your own shoelaces is ... but it can be made less complex than a CC.

[jscott]

Originally Posted by lock

There has been crypto dedicated to adult and they bailed.

Crypto dedicated to anything is bad idea and usually a scam.

Bitcoin was created so that anyone can use it, for anyone/anything that is willing. Permissionless, borderless.

Dedicated to any certain niche or country is exactly what it was created to avoid.

Use Lightning Network, it works

[fuzebox]

Anyone suggesting crypto would work for adult paysites, clearly hasn't 1) ran paysites 2) relied on recurring revenue 3) transacted with crypto

[jscott]

Originally Posted by fuzebox

Anyone suggesting crypto would work for adult paysites, clearly hasn't 1) ran paysites 2) relied on recurring revenue 3) transacted with crypto

This coming from someone who complains about BTC on chain transaction fees while Lightning Network is ready & available

ps. Chaturbate has crypto for payments & payouts, fyi