Sexcoin - Targeted crypto specifically for Adult Payments
 

I'm new here.

Sexcoin is targeted at the adult businesses. Like bitcoin, its got no chargebacks, a good amount of anonymity, but the best thing about it right now is the short confirm times. If you don't want to fuck around with building your own carts, coinpayments.net can handle the crypto easily.

We want to support any endeavor that builds utility into sexcoin. Our philosophy around the coin is to make it a stable payments system, that allows for micro-transactions or regular transaction, and caters specifically to the adult entertainment businesses.

To that end, we're attempting to build a more comprehensive 'feature list' of things that the industry needs from a crypto that is not addressed by bitcoin.

Disclaimer: I'm one of the Dev's.

Disclaimer because: We are currently working on features that will definitely differentiate sexcoin from bitcoin. Let me know what kind of things you would need to accept crypto, and I'll bet, if its technically possible, they will end up being folded into the clients.

Also let me know if there is anything I can do to help you adopt the coin to your site.

Please list these special 'feature list' that are not addressed by either bitcoin -- nor by other crypto currencies, like litecoin and peercoin.

probably name :D

Recurring payments?

+1 for recurring billing

Looking for a feature list
 

Sorry if I'm pulling up a Necro thread, but the Sexcoin devs have been very busy.

We are trying to come up with a list of features that would have a real impact, so we are reaching out here and other places to try and get a feel for what would best differentiate sexcoin from bitcoin. ATM, the biggest thing going is a very quick confirmation time ( to facilitate impulse buys... an hour is a long time to wait if your dick's in your hand ), and the fact that we are targeting the adult entertainment industry. Of course it has the zero charge-back features of bitcoin along with the anonymity if handled correctly.

Here are some of the features we've been looking at, and please let us know what's important, and make more suggestions:

-recurring payments <--- noted above ( THANK YOU! )
-ability to attach age verification data
-in client cam/chat for the cam girls
-zero-chain wallet with a block-chain service, for mobile and low RAM devices.

We have also begun developing some infrastructure for features that would not necessarily be part of the core-coin.

Have you guys heard of www.wankcoin.com

Already accepted at over 100 sites.

I like the name ;)

Sexcoin has already made inroads on reddit and other sites (our adoptivity is growing steadily), and it does have the added bonus of being able to trade it on Cryptsy:

/r/girlsgonesexcoin

cryptosextoys.com

Theres also a contest going on to win an hour with TiffinySnow:

sexcoinforum.org/index.php?topic=600

I still can't post links :Oh crap

So - what's your opinion of the features? what's most important?

Webcam client would be awesome. Adding something like zero coin to make transactions truly anon. Another handy thing would be plugins for websites to allow easy integration of sxc

Sexcoin/ Tiffiny / Suggestions!!!
 

Ok, Maybe a little incentive to get some chatter.

If you make a valid suggestion for coin features here in the thread, and PM me, I'll pay your entry (1000 Sexcoin per entry!!! ) for the TiffiySnow Contest.

:pimp :pimp :pimp

Winning suggestions are going to be completely subjective to me. Factors include the amount of thought that went into it, feasability, and usefulness to the Adult Entertainment Industry. I will also consider "brainstorming" factors. I've got 50000 SXC earmarked for this!

Let me hear some ideas!!!

First entry, putting my money where my mouth is.

Build a Micro Payment Processor like Token Systems, or the many other such out there...

Tiffany said something quite similar yet far better....

Anyway I think an anonymizing technology like zero coin would be very good for sexcoin. Would add a massive degree of privacy improvement over credit card and other forms of payment currently available.

I was wondering what every one elses opinion is on this?

Done. Entry. PM me so I can find you if you win ;)

Entries for them have both been confirmed! gl guys

Anyone can tell me more details about Sexcoin? How can i get it?

sexcoin.info is the official website.

sexcoinforum.org will get you almost everything you need to know.

Its traded on cryptsy.com, and you can buy them on litebit.eu



I still can't post URL's..... guh

you need 30 posts to be able to post links :(

@adpanel if you are a merchant and want to accept sxc you can go to coinpayments. net (I also cant do links). They have plugins for a lot of popular ecommerce solutions.

BTW, this contest is STILL ON, and I'm still staking entries for a good idea !

good luck and cheers! :winkwink::thumbsup

Thanks!

Deadline is approaching quickly

Sexcoin is yet another pump and dump scheme; there have been many that came before, and many to follow. There is no good reason to use a separate blockchain (the public decentralized transaction ledger) for each market; Bitcoin does everything the imitators can do, but better. Why better? Am I just a hater? No! The primary method of securing the network against attack is the enormous amount of computing power used to verify transactions, and this is where the "altcoins" like sexcoin fall short. It is a trivial thing to attack and disrupt a less popular blockchain (it has already happened; see: terracoin).

Bitcoin is already anonymous; unless you publicly state your address, nobody can definitively prove that it is yours. Plus, things like zerocoin have been shown to be ineffective in obfuscating the origin and destination of funds; you actually increase your exposure by using them because it's a more narrow stream used primarily for sketchy activity (that's where the prying eyes will look). Better to hide in the obscurity provided by a larger stream of data, like Bitcoin.

TLDR: sexcoin is a gimmick; just use Bitcoin.

All good points, and this is exactly what we are trying to address with sexcoin. I agree with just about everything you said except sexcoin being an "pump-n-dump". It hit its year anniversary in May, so if it were pump-n-dump it would simply be abandoned by now. But there is active, albeit slow, development on the coin. And the 'just use bitcoin' is exactly what I'm asking about in this thread.

What could sexcoin, or any other coin, do to make it unique for the adult entertainment industry?

It started with rapid confirmation times, but bitcoin services have pretty much solved that. Now we are working to add features to the coin to differentiate it from bitcoin and litecoin. The question I'm posing is "What features?"

There is literally nothing that can be added to sexcoin that would make it a suitable alternative to Bitcoin. Your very premise is flawed; you are working backwards from the assumption that there should exist such a thing. The adult entertainment industry didn't need a SexDollar, and it certainly doesn't need a SexCoin. Men want porn, and they have money. That is that. What you are proposing is more along the lines of a gift card -- the kind of thing you buy when you forgot someone's birthday and don't want to come off as tacky. When was the last time you heard of someone getting porn for their birthday?

Same can be said for every single altcoin then could it not? There is 1 thing i can think of that makes altcoins > bitcoin. the tx fee on btc is a higher dollar value then any other altcoin.

I like your idea tho, while we are at it lets get rid of all the currencies other then the euro. I mean USD serves exactly the same function so no point!

That's right; I'm saying that all altcoins are bad investments. I don't mean to single out this one particular scam; they are all scams.

The transaction fee is optional (you can set it to 0 and pray that your transaction gets included in a block).

I'm all for getting rid of USD, but I don't know why you'd want to replace it with the euro. You're point is kinda valid though -- Bitcoin is like the dollar, and all the altcoins are like all the other FIAT currencies. No matter where you go, you can probably spend your dollars; you can't bring pesos or euros to the U.S. and expect to spend them, however.

Damn dude, that's just limited brain power at work. Bitcoin was said to be nothing but a scam until it wasn't. If there's nothing that VC can bring to the table, then why have token systems or credit cards or phone gateways? Why not just snail mail cash to get your porn? And btw, its really fuckin' easy to just say "nothin'" And btw, I've seen your tweets, you are singling out sexcoin.

Okay so as a site owner of a bitcoin based porn site, I feel I might have some things to contribute...of course I could be wrong. But here goes it.


First, the name of the coin ruins the point of it, at least to me anyway. Let's say you want to purchase porn anonymously using bitcoin, the anonymity is likely from that of your spouse, girlfriend, or family. None of those require great lengths of work to become anonymous using bitcoin, you go buy bitcoin, then you spend it on what you will. Your bank account may show that you bought bitcoin, and your SO will see that, they'll probably think nothing of it, since there are so many reasons to have bitcoin, jumping to porn would be an unreasonable conclusion.

Now, let's assume the same circumstance with sexcoin, you go purchase sexcoin (i'm excluding mining at the moment, since most people aren't miners/don't have mining equipment) then your SO goes and looks at what you purchased: sexcoin..."SEXCOIN!?! YOU'RE BUYING SEXCOIN FOR WHAT, SEX WITH OTHER GIRLS!?" - she might say, and even if she assumes it's porn, what was the point? There may be anonymity in what porn you purchase, but the fact that you are using it for porn is kind of out of the question.

Now, on to your question of what it would take for me to accept it. The answer to that is very simple, a solution which removes the risk entirely, which allows instant conversion to USD at the price given. Along with that, would need to be a fully fleshed out API for easy integration, with good documentation. Along with that, I would like to see who is buying using sexcoin, I believe that many will accept new coins quickly, because accepting is easy, you take it in and convert it and you're finished. But saying you'll take it doesn't mean you'll get any buyers - where is your core user base located?

I hope this helps, but I've got to say I really currently see no incentive for it, the fast confirmation times are completely irrelevant when using services like coinbase which take all of the risk and fund you at 0 confirmations. If I'm missing something please let me know! I need to stay on the bleeding edge of this field :)

There are no "cryptocurrencies." There is only Bitcoin. Your comparison is fallacious; there literally cannot be any other blockchains. This is a matter of pure math; the hashing power behind the Bitcoin network protects it from attack, and is much greater than that of all the other altcoins combined. It is trivial for a determined attacker to ruin Sexcoin, or any other knock-off; he needs only to point his miners at it just long enough for the difficulty to adjust, and then go away. The coin will never see another block (the thing the transactions go in).

How many people are using sexcoin?

You are missing a major point, the concentration of hash power for bitcoin is on the increase. Small time people are getting pushed out by people with huge mining operations as that problem will only continue to get worse as time goes on and the cost of constant upgrades keeps only the top few in the game so to speak. Remember the ghash problem of a few months ago where they got over 51% of network hash rate..... i guess it wasnt that impossible after all!

@newxxx i cant post urls yet but if you check the sxc forums or main site (easy google search should turn it up) they have a list of places accepting the coin

i dont think its up to date tho.

Well, gHash is a pool, not a single individual. Bitcoin doesn't need "small time people." It doesn't matter if "only the top few" can mine it. What matters is that no government has enough power to control it; they had their chance, and now it's too late. The amount of mathematics performed by the network is well outside the scope of any one individual's ability to calculate.

yes, ghash is a pool run by people who had control over the network.... if they choose to abuse that power they could of done major damage.

So you arent even slightly concerned that only massive farms run by god knows who will control more and more of the hash rate of the network?

Also you are deluded if you think that government will have no control over bitcoin. Sure one gov wont have control of the network but im pretty sure they will find a way to cash in on it and if you dont play ball the [insert tax departments name here] will bend you over and not even lube up. If you think im paranoid just read up on whats come out about the nsa lately and youll find out pretty quick you cant do shit without them knowing

They didn't have "control over the network." The full nodes control the network; miners just find blocks. The operators of gHash can't force people to use their pool; it has a large amount of hashing power because people choose to use it. The best way to understand the different incentives at play here is to read up on the prisoner's dilemma.

No; I'm comforted. I want massive farms to keep putting ever increasing amounts of hashing power into securing the blockchain. As the difficulty increases, it becomes less and less likely that a single bad actor can cause a significant disruption.

You are deluded if you think anyone can stop Bitcoin. There's no warehouse full of bitcoins -- nothing for governments (better called terrorist organizations) to seize. The serious players aren't using Bitcoin in such a way that the NSA would be able to disrupt it. This isn't for the idiots -- the people who need perpetual hand-holding. With even a minimal amount of actual brain utilization (a tall order for the "average joe"), it should be trivial to do crypto properly (rectal-thermal cryptanalysis remains the only practical attack-vector).

Lets do a little math here, according to bitcoin wisdom btc network hash rate was 191244.35 th/s. You can buy 1 asic from hashra that does 3th for basically 1300.

191244.35 /3 = 63748.116666666666666666666666667
that by 1300 is basically $83 million dollars (yes i know they dont have 64k asics just sitting around, for illustrative purposes). So if any world power was serious about taking shit over they would only need 83 million dollars..... no world power has that much money!

So what if there is no "warehouses full of bitcoins". Pretty sure if all the major world powers declared btc illegal the hash rate would instantly bottom out as your massive egalitarian server farms shut their shit down to avoid massive fines/criminal charges.

Anyway if you want to keep arguing the point then ill do so in pm, thread needs to get back on track

Do you think the U.S. and Chinese governments aren't already building mining farms? They are.

The Bitcoin network is decentralized. People would keep mining in secret where necessary, or migrate to more friendly geographic regions -- but that isn't even relevant; the notion that any government is going to be able to control Bitcoin is laughable. Bitcoin is going to kill the dollar, and the U.S. government will follow; good money pushes out bad money, and socialist governments depend on having control over the money supply. Plus, it's "illegal" to share movies and T.V. shows, but torrenting those files is bigger than ever; bittorrent makes up a significant portion of all internet traffic.

The best places to take this conversation are Twitter or #bitcoin-assets.

You are right, this thread does need to get back on track. As a bitcoin site owner, and someone without an argument, but legitimate concerns and questions, why have both you and lavajumper both ignored my post?

About hashing power, and concerns about it becoming illegal, what keeps pools from getting 51% on your coin? Are you saying you've solved the issue of 51% attacks with sexcoin? Because if you haven't then there is no need pointing out the concerns surrounding a 51% attack on bitcoin because those same concerns would apply to your coin.

Finally, if the government were to outlaw bitcoin, I'm pretty sure they would do it by outlawing ALL crypto's. There is little to no chance they would even bother outlawing just bitcoin because then everyone would simply switch to litecoin, and whatever coin came next if they outlawed that too. It would just be silly.

Please understand, I am not here to down your coin. I am here simply to try and point out some very obvious issues that you have, that are not being addressed. Rather, all I see you doing is attacking bitcoin. If you want sexcoin to be successful you're going to need to start stating the good of your coin, and no need even mention bitcoin.

I was leaving your questions to lava as he is far more knowledgeable about the coin in general as he worked/works on it while im just a fan who tries to promote it. I think he just only occasionally checks on these forums but ill see if i can get someone to address you concerns.

As for the thread derailing bitcoin crap that went on that wasnt me bashing btc, was just saying in general btc isnt the jesus coin danielpbarron makes it out to be and the problems that it has are shared by the "fake not bitcoin scam coins" he was talking about.

One thing i can say is that bleutrade has just listed sxc and they allow trading between any pair you like inc USD i do believe. No volume on there atm tho as it was just listed a few days ago iirc.

I'm not ignoring the thread, I just don't check it all the time. And I want to sincerely thank you for a very insightful reply, not just a simple bash. Personally I'm not attacking bitcoin in the least, we all owe a great debt to bitcoin and the bitcoin community. Sexcoin was created because of a few reasons. One was that bitcoin was attempting to distance itself from 'nefarious' activities. Another was that bitcoin's confirm times were wholly unacceptable for a business such as adult web sites... coinbase was not on the map and bitpay was too complicated; so confirm times were paramount. There are more reasons, but I don't want to TLDR you.

Sexcoin was probably the first niche coin to actually be usable...cryptosextoys.com accepted it, so you could mine, or buy sexcoin and then purchase lingere and dildoes from cryptosextoys. You could also do it quite anonymously with the exception of your mailing address. ( My SO has received a shower of gifts from that site ). Our vision has been a currency that could be used as tokens for cam girls, anonymous escort transactions, stripper tipping, web VOD purchases, all with an interchangable format. So if you bought Sexcoin, it would be accepted by manwin, A&E, Kink.com for VOD, or you could choose to purchase goods or services. The SO problem is solved because sexcoin can be used in many different arenas, but it is also segmented, or earmarked, for the grown-up activities. In this way, even 'family' funds can be managed. IF a person wanted to switch out, then they could convert to bitcoin ( or USD for that matter ).

I understand that this doesn't address everything that has been brought up here, but I do think it clarifies some points. I will post more later when I've had a bit more time to read over everything. ( the 51% attack is something that has had a great deal of discussion, we implemented KGW as a first step in our strategy ).

If you want to buy coins for $ you have to send those $ to a exchange first, and that is all your bank statement will show. Your bank (or somebody else) will not know if you used those $ to buy Meows, Lemurs, Mileys or Sexcoin.

Coinpayments provide handling of SXC payments, but no realtime exchange. Thinking about it, if you set your Coinpayments wallet to instant payout to your cryptsy wallet and set that to auto sale it would be a more or less instant conversion to $.

User base: That is the major problem. I have read that there are only a few 100k BTC users world wide, for alt coins it might be only a few k, maybe a few 10k. But that whole scene is not much older than a year now, and the growth rate is immense. Most alt coins are much more suitable as currency (at least for micro payments) than Bitcoin anyway. Whenever I rent some hashpower or VPS I use LTC or Dogie. On a funny aside: Some of those companies already list CC payment as ?alternative? payment method :)


If somebody with own content, especially at niches that Banksters frown (sleepy, tentacles, drunk) wants to try a own mini paysite without the need to invest money and paying fees, I have written a little membership management script that works with coinpayments. But be warned: My PHP knowledge is only basic and so is the script. The good thing is that it works and the requirements are minimal. Since the members database is txt based there even is no need for MySQL. Although the script is configured for SXC, it is easy to change the base to $ and to accept any coin Coinpayments supports. Just consider to accept / promote SXC please :winkwink:

Script is here:
http://www.sexcoinforum.org/index.php?topic=610.30


I use it on two sites:

http://www.xxxeno.com
http://www.dickgirlporn.com


So far I get a signup per month or two and that is about what I had expected. The cut set of people holding coins, are interested in my stuff and knowing about my sites (at the moment I get about 100 visitors per day) is rather small so a sale or two per month is not bad at all. A strange thing is that I mostly got ?manual? signups (people sending me a email and I send them a payment address). I still decided to remove that manual payment option, to much hassle.

.

Ok here is a response from digdug to your comments DDuckworth

Okay so as a site owner of a bitcoin based porn site, I feel I might have some things to contribute...of course I could be wrong. But here goes it.
First, the name of the coin ruins the point of it, at least to me anyway. Let's say you want to purchase porn anonymously using bitcoin, the anonymity is likely from that of your spouse, girlfriend, or family. None of those require great lengths of work to become anonymous using bitcoin, you go buy bitcoin, then you spend it on what you will. Your bank account may show that you bought bitcoin, and your SO will see that, they'll probably think nothing of it, since there are so many reasons to have bitcoin, jumping to porn would be an unreasonable conclusion.
*REPLY* So, buying Sexcoin is as annonymous as buying Bitcoin at this point. In fact most people are trading Bitcoin for Sexcoin. The advantage is that we are working to have a stable coin that is accepted at Adult commerce sites. The rush is on for everyone to accept Bitcoin, but just like credit cards and porn in the 90's, Bitcoin will 'grow up' and become a monetary tool that will not want to associate with porn/pot or other legal activities that are deemed socially tainted.

Now, let's assume the same circumstance with sexcoin, you go purchase sexcoin (i'm excluding mining at the moment, since most people aren't miners/don't have mining equipment) then your SO goes and looks at what you purchased: sexcoin..."SEXCOIN!?! YOU'RE BUYING SEXCOIN FOR WHAT, SEX WITH OTHER GIRLS!?" - she might say, and even if she assumes it's porn, what was the point? There may be anonymity in what porn you purchase, but the fact that you are using it for porn is kind of out of the question.
*REPLY* Again, the purchase of Sexcoin as a currency can be done a number of ways, Mine it, Trade other crypto currency for it, spend fiat for it (yes we have a cash-to-sexcoin service avaiable). If you can't figure a way to purchase porn with a credit card and hide it from your gf/spouse, then you are kinda dumb.

Now, on to your question of what it would take for me to accept it. The answer to that is very simple, a solution which removes the risk entirely, which allows instant conversion to USD at the price given. Along with that, would need to be a fully fleshed out API for easy integration, with good documentation.
*REPLY* Please be realistic, there is always risk. If you take Credit Cards you are at more risk to have a customer file a chargeback complaint with Visa/MC then you are to have a chargeback with crypto currency. That is becasue you CAN'T reverse a transaction with Sexcoin. As to stability and instant crypto to cash, You don' t have that with Bitcoin. In time these services WILL be available. But the crypto eco system is really less than 2 years old, remember what the internet looked like in 1995 and what it is like now.
IN FACT, you can have merchant services with Sexcoin right now. Visit SXCWALLET.COM and see a Merchant service that allows you to have multiple items for sale, with a QR code for each, and all the sales are tracked and the payments goto your master address. Then you can transfer, keep or whatever with your Sexcoins.

Along with that, I would like to see who is buying using sexcoin, I believe that many will accept new coins quickly, because accepting is easy, you take it in and convert it and you're finished. But saying you'll take it doesn't mean you'll get any buyers - where is your core user base located?
*REPLY* Ok, just check the blockchain. See every transaction ever of Sexcoin, sxcexplorer dot com forwardslash chain forwardslash Sexcoin ***cant post links yet so thats been edited***
I hope this helps, but I've got to say I really currently see no incentive for it, the fast confirmation times are completely irrelevant when using services like coinbase which take all of the risk and fund you at 0 confirmations. If I'm missing something please let me know! I need to stay on the bleeding edge of this field

If you want to have a secure, anonymous coin that is geared for the Adult industy, we are it. I hope that you will consider accepting Sexcoin as a payment option on your site.

Ah, my comments about ignoring were directed at sxcladies (not lavajumper.) As from the way you were posting I thought you were one of the core dev's of the coin.

Thank you for all of your detailed responses. If adoption starts to ramp up I'll likely accept it in the future. At the moment the next plan is to take litecoin, and then go from there. But we need time to grow before developing further.

The problem with hiding BTC vs. SXC is still there in my mind, because while it may be possible to hide using SXC it is still more effort than just not worrying about it entirely by using BTC. I believe you may be right in the future about BTC's use being avoided to buy such things due to wide adoption...but that won't be an issue until someone makes a way for people to easily see what you've purchased and who purchased it. I hope such a program never comes along, but it does seem like people will probably try to develop it nonetheless.

On a sidenote, lava I noticed you signed up, I would love to hear any of your thoughts on design or anything you may have as far as input goes for the site.

Thanks for your time!

Bitcoin isn't an individual who can "distance itself." You may have perceived this sentiment among a particular group of Bitcoin users, but it isn't indicative of Bitcoin as a whole.

What is wrong with the confirmation times? How is it different from sites that give you credits in exchange for dollars? Once the funds are deposited, the site operator can interact with his customer without waiting for confirmations. And I don't mean coinbase or bitpay; if you want dollars, just accept dollars. Plus, transactions are practically instantaneous; even before it gets included in a block, you can see how likely it is to get confirmed (was a miner's fee included?) For low value transactions, this is more than adequate.

Exactly -- and this works the other direction. Nobody is going to buy sexcoin directly; they will buy bitcoin first, and then exchange it for sexcoin (they won't actually -- this is a hypothetical). So then, what is the point of converting to sex coin? Are people going to set aside a certain amount of funds for their porn viewing? No -- they're going to (again hypothetically; nobody is going to actually buy these things) convert at the last minute, exactly enough for the particular service they are about to purchase. With no reason to save (hoard, amass) sexcoin, its price will experience a constant downward pressure as new coins are generated and as services are rendered.

This is not possible. Bitcoin cannot shun your business; the blockchain does not discriminate. Where the credit card companies and FIAT Banks could stop your payments or freeze your funds, Bitcoin literally cannot. If you can sign the transaction, the network will accept it -- no questions asked.

Anyhow, the market has spoken: http://coinmarketcap.com/currencies/sexcoin/

Actually, this is an excellent point, except that ( also in reference to the coinmarketcap link ) it is NOT what's happening with sexcoin right now. It is being mined and hoarded in the millions. There are around 80 million coins generated at this time, and less than .1% of them are showing up on the open market ( cryptsy / bleutrade ). What this means is that there are a lot of people expecting this coin to go up. Also, from an address distribution ( balance of each seen address ) there is not a huge concentration of the coins in any one pocket, although I admit this can be very misleading. The downward pressure being seen right now is a remnant of the bubble last year.

And as a matter of record, I do buy sexcoin as part of a family budget, and hold them for special present times. This gives me the freedom to surprise my SO with gifts, which I cannot really do with CC or Bitcoin because she is active in our finances and notices purchases through regular channels ( Yes, even bitcoin ). Before sexcoin, every damn time I bought her a pair of stockings, she would know before they ever made it to the house. Its really nice to be able to give her an unexpected gift. And in my case, I also use it for sites. Mostly because I have them, and I use a obsucure email address, so there is no trail. This would be harder for me to do with bitcoin( but not impossible ).