Regardless of how you feel about porn it’s a large part of our financial ecosystem. It’s estimated that $97.06 billion dollars is spent world wide every year watching porn. That’s $3,075.64 spent every second with 28,258 Internet viewers watching porn per second and one new porn video created every 39 minutes. So needless to say porn is big and bitcoin (BTC) is poised to make the porn industry even more profitable.
Porn.com claims their sales have increased a whooping 25% since accepting bitcoin. That figure is very important for several reasons. Not only did porn.com get a 25% boost in sales they could start saving a sizable amount of money in credit card processing fees as more customers move from paying with credit cards to bitcoin. The average credit card process fee is 1.95% – 2% of the item or service purchased while bitcoin is typically free to 10¢ or about .0001 bitcoin.
If the entire porn industry adopted bitcoin and saw a 25% increase in revenue that $97.06 billion dollars turns into $121.32 billion dollars. With those type of figures merchants everywhere would have to take notice. Overstock.com said they sold $126,000 dollars of product paid with bitcoin the first day they started accepting bitcoin.
If you happen to be an early adopter of bitcoin and looking to get into the porn industry, porn.com is currently up for sale. It will only cost you approximately 55,290 bitcoins or $55 millions dollars and it’s yours.
David Kay, the marketing director at Porn.com said, “I definitely believe that porn will be bitcoin’s killer app. Fast, private and confidential payments.”
2014 is going to be pivotal year for bitcoin and exciting to watch – see what I did there? For more bitcoin news follow PFhub on Twitter or bookmark this page.
