Why cryptocurrency will probably never be popular
In the last few days, pornhub stated paypal was stopping payments:
We are all devastated by PayPal’s decision to stop payouts to over a hundred thousand performers who rely on them for their livelihoods.
If you have PayPal as your payout option please select a new method and update your information in your Model Settings tab.
If you have a pending payment for October and were using PayPal, please contact us immediately (select support type payment issues) with your updated payment method and update your payment info in your model settings tab as well. Payments will start to be sent out the end of this week. We sincerely apologize if this causes any delays and we will have staff working around the clock to make sure all payouts are processed as fast as possible on the new payment methods.
Some are saying Cryptocurrency is the answer.
But this is my thoughts about using Cryptocurrency.
Cryptocurrency is not and never will be mainstream.
It would always fail to become mainstream as in truth no one has reason to use it.
Money today is no more than 0’s and 1’s passed back and forth. And the system works, so no one is seeking an alternative.
In reality the UK £ and USD $ is no longer around except in name and local value. For instance I (in the UK) send someone in the USA £500. They will get it the moment I send it, but will see it as USD. Yet to the computers sending it back and forth, it is not a currency but 0’s and 1’s.
As no one has a reason to use cryptocurrency, demand and use of it will be always low.
Not to mention the fact it could be worth a vast amount day one and next to nothing the next day. It would simply not be worth using. Would you want to sell your house in cryptocurrency, only to find next day the value of that cryptocurrency has halved? I suspect most people would prefer a much safer method and use current currency.
But lets say a cryptocurrency took off. It would fail because everybody would set up there own cryptocurrency. In the same way you have millions of blogs, you would end up with millions of cryptocurrencies.
Cryptocurrency does have a place though. Such as computer games where you may purchase 100 cryptocurrency coins, and use them to buy/trade in a computer game.
But for porn hub, one would presume they had the funds to simply set up there own version of paypal, and do everything themselves.