The manifestation of bitcoin as a medium to payments for adult site scripts continues to be quoted by webmasters of different professional persuasions. Bitcoin is seen by some as a transient phenomenon and by others as a votary of decentralized peer to peer enabler of payments. It is in my contention that in order to comprehend the relevance of bitcoin as a payment mechanism for adult site scripts, one needs to first understand what bitcoin is. It is in this spirit I have taken the liberty of elucidating the reasons why Bitcoin should be used in adult entertainment industry.
To put in layman terms, bitcoin is a digital asset or a cryptocurrency. It is an innovative digital currency. And yes, it is the world’s first decentralized digital currency designed by Satoshi Nakamoto. In other words, there is no central bank or any administrator serving / acting as the custodian of this digital currency. It is strongly endorsed by a robust technology called Blockchain. For all intents and purposes, the cornerstone of blockchain technology is a distributed ledger wherein the transactions taking place amongst the users are recorded. The network is peer – to – peer and there is not any intermediary involved.
- Anonymity is Ensured
One of the biggest advantages of exchanging bitcoins is that people can do away with personal details. Just a virtual address is required to exchange bitcoins. Virtual addresses can be created by using certain wallet applications. It is a known fact that adult entertainment industry is stamped with the characteristics of data breach and confidentiality breach. Thanks to bitcoin, adult performers can breathe easy.
- Non-Reversibility is Inherent
Online payment solutions such as PayPal can be reversed by customers after a certain duration of time. The same sits best with adult payment solutions such as CCBill and Epoch. With more and more adult performers severing ties with adult producers, reversibility of payment solutions does not augur well for adult production studios. The inherent non-reversibility of bitcoin is a boon to adult production studios and content developers. Not only does bitcoin address the issue of reversibility but also the issue of chargebacks.
- Absence of Third Party
Many adult online payment solutions are monitored and moderated by intermediaries. As a matter of fact, there are several adult items and products listed as against the terms and conditions of online payment solutions. If an adult performer is caught peddling with an adult product or an item which is deemed illicit by the online payment solution, his / her account will be terminated. Funds shall be coveted. This is not the case with bitcoin. As there is not any central authority or custodian, nobody shall possess the power to freeze your funds or disband your account.
- Proposition of Taxes
At the very outset, let me tell you that I am neither a lawyer nor an accountant. If you are looking for a professional advice pertinent to tax planning and tax management, I suggest you to consult a professional. As far as my knowledge with respect to taxes is concerned, bitcoin is placed in a grey area. Apropos of my views of the proposition of taxes, exchanging bitcoin for local and national currencies entails third parties such as Bitcoin exchanges and banks.
- Hacker-Proof and Tamper-Proof
If one plough through the web pages, the obsession of hackers with adult site scripts can be understood with ease. Are bitcoin-related websites hacker-proof? No! But if you have Bitcoins secured in your wallet, nobody will have enough privileges to alter your bitcoin balance. For your information, bitcoin wallets are secured in your computer. Unless and until you explicitly grant access to your computer, the incidence of your bitcoin wallet getting hacked is close to zero. The bottom-line is payments through bitcoin wallets are immune to hacking. They are tamper – proof as well.
- Requirements and Prerequisites
Webcam models and adult performers do not require any paraphernalia barring a smartphone or a computer. Of course, bitcoin wallets are required. For all intents and purposes, smartphones and computers are capable of running bitcoin wallets. You can trade certain amount of money (depends on the market volatility and market dynamics) for bitcoins. You can also solve certain complex puzzles to own bitcoins. In addition, you can use bitcoin ATMs and exchanges to purchase or acquire bitcoins.
- The Business of Sending and Receiving Bitcoins
There are many informative videos on the web that help you create an address so as to facilitate the business of sending and receiving bitcoins. If you face any hurdles while setting up an address, feel free to converse with our support team. They will help you set-up a wallet along with a valid address.
Instead of asking for PayPal payments, you can initiate orders equivalent to the worth of bitcoins. As soon as the payment hits your wallet, you can fulfill the dispatch of the service or product. More often than not, webmasters are skeptical and extremely critical of spending bitcoins because they reach towering heights in terms of value. That said, bitcoins can stoop to bottomless abyss. Market dynamics are capable of altering your prospects. You never know what’s in store.
What is in it for Cam Models?
All the afore-mentioned advantages justify that bitcoin is a blessing to webcam models. Not only are bitcoin payments secure and instant but also irreversible. As an adult entertainment industry pundit with more than 15 years of experience, I find absolutely no reason why your adult site script shouldn’t have provisions for bitcoin payments.
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If you have any doubts or concerns on adult site hosting, drop a line or two in the comments section. I shall reply in a day or two. Keep watching this space for insights on adult site hosting and adult site scripts. To get insightful articles on adult site hosting delivered to your inbox, subscribe to our newsletter. My best wishes are with you and your adult venture. Cheers!