For Edward Snowden OnlyFans could use Bitcoin –

Edward Snowden claims that Bitcoin could help OnlyFans to solve the problem related to pornography.
It all starts yesterday with the news that From October OnlyFans will censor videos with explicit sexual acts.
OnlyFans is a platform that allows you to publish videos and other content made available only to subscribers.
Every creator on OnlyFans has the possibility to charge a subscription to their fans that allows them to enjoy non-public content, and otherwise not available.
Many celebrities use it to monetize their followers, often willing to pay even for example to be able to watch videos that their favorites make available privately only to subscribers of their OnlyFans channel.
However, the platform is also known for another business, namely that of adult content. In fact, several creators on OnlyFans post videos with explicit sexual acts on their paid channels.
Obviously this business is not liked by the platform managers, so much so that OnlyFans has made it known that starting in October, it will ban creators from posting material containing explicit sexual acts. Nude photos and videos will be tolerated instead, provided they are consistent with platform standards.
THE OnlyFans numbers
OnlyFans last year managed more than $ 2 billion in sales, and now has more than 130 million users, including pornography having enjoyed considerable success. However, the company would like to get out of this business, and perhaps focus on musicians, fitness instructors and chefs, as well as celebrities of course.
Note that the platform is trying to raise funds from various investors, so this choice could be dictated by financial needs.
It would be, in effect, censorship, given that up to now this type of behavior has been tolerated and has contributed not a little to the growth of the company also and above all from an economic point of view.
Edward Snowden for its part it has always been a fierce opponent of censorship, therefore he can only be against this decision.
Bitcoin fixes this.
– Edward Snowden (@Snowden) August 19, 2021
What is surprising, however, is that commenting on this news with annoyance, he wrote that “Bitcoin solves this problem”.
In fact, the tweet cited by Snowden is that of sharing the news given by Bloomberg, which reads that the cause of OnlyFans’ decision could be “the growing pressure from banking partners and payment service providers”.
However, although on the one hand Bitcoin could really wipe out the pressure coming from banks and payment services, in this specific case it could not solve the problem related to the possible reluctance of investors to invest on a platform that in effect sells. pornography.
So we need to distinguish the two problems, namely the one mentioned by Snowden, which can actually be circumvented using Bitcoin, and the one suggested between the lines by Bloomberg relating to potential investors.
To tell the truth, the company has not stated that the choice is linked to this last hypothetical problem, but it is plausible to imagine that this curious decision also has to do with this specific problem, given that it could even lose a large slice of turnover to the platform. In fact, it is difficult to imagine that the company can accept serious losses just because the banks it works with turn up their noses at the business of pornography.
However, the fact remains that the use of cryptocurrencies how BTC can really eliminate the need to rely on intermediaries altogether who, as in this case, may refuse to process payments related to the pornography business. Not for nothing, recently, Pornhub has decided to accept payments in different cryptocurrencies precisely because Visa, Mastercard and PayPal have closed their accounts.
For some time, Pornhub has also paid its artists in crypto, using for example Tether Dollar (USDT) via the Cosmo Payment or Tron Link payment app.
Therefore, if, for example, OnlyFans allowed those who sell pornography to be paid only in BTC, the platform could avoid using intermediaries to collect these payments considered “hot”.
There are several projects that only use cryptocurrencies, such as the webcam hosting site Spankchain which uses its own cryptocurrency SPANK on SpankPay to pay actors while retaining only about 5% of the commission, compared to the 50% usually withheld by the most common platforms.
There is also the Italian Pornvisory project which aims to bring all the services of the adult world into the crypto world, from content to camgirls, including NFTs and gaming.

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