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Comment by lawn | Hacker News Reader

It's a perfect fit for a peer-to-peer electronic cash system (title of Bitcoin's whitepaper) yes.

This is the problem with permissioned transactions which cryptocurrencies remove. The only thing missing is adoption.

With the fees and issues I don't understand why the porn business isn't pushing harder for cryptocurrency use on their sites. There's huge amount of money to be saved here.

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It's almost like being paid a salary in an unregulated Internet Buck that landlords and grocery stores won't accept would make things difficult for people. ;-)

That argument might have been valid in 2015. Today converting BTC to USD is nearly automated if you so want.

Bitcoin is not viable due to it’s high transaction fees and low transaction rate. Some random Alt coin might work, but getting PornCoin adopted is difficult.

You don't have to have PornCoin, they can use an exchange like Binance which has a lot of different currencies supported, and the customer could pay in any one of these. Or they could use Request Network if that pans out.

And lastly, Bitcoin fees currently aren't large and you can get a confirmation with a few cents fee. That might stop being so if it becomes too popular again, but if off chain solutions like Lightning Network pan out, then that'd be sorted out.

For the average person to buy something you need to buy a coin, that's 1 transaction on the block chain. They need to buy something with that coin that's transaction #2. The merchant needs to sell that coin that's transaction #3. Granted #1 and #3 can be much larger reducing the costs, but the average user is likely to be splitting #1 across a small number of transactions.

Further 2 exchange fees sit on of those 3 coin transactions.

In theory you can have an exchange handle all 5 of these transactions, but then your using the exchanges book's not a block chain.

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