Bitcoin is the new digital asset which has been booming in very rapid speed. Bitcoin cam girls may be the next thing in this digital era. The cam business, is a kind of peep show of the digital era, it has existed for a few years, but as technology has evolved and also becoming cheaper, the cam concept is proving to be more than a passenger: it has created an opportunity of making money in a pornography business that is mainly dependent on the distribution of free sexual content on the Internet.
Unlike pre-recorded pornography, camera shows, which occur in real time, are difficult to hack. Most of the popular cam sites have access to tremendous traffic daily, with most of the top sites getting up to or even more than 40 million visitors a month, according to Compete.com, which measures Internet traffic.
At any point in the day you will find models online ready to satisfy your urge, hundreds of models are online, don’t think you are the only one patronizing them a model can be getting up to or even more than 500 viewers at a time, while some are giving private shows. According to analysts and industry executives, the money generated by cam sites is at least hundreds of millions of dollars, and most likely one billion or more.
In general, the money does not come from subscriptions or pay-per-view, but from credits or “tips”, which viewers give to tokens that allow them to interact with the models, instructing them through written messages to use a certain sex toy or use it in a specific way. The websites provide the platform and then collect and distribute the tips to the models.
One very important thing viewers and models will want in this business is privacy, everybody patronizing cam sites will like it to be done privately and exclusively, that’s where cryptocurrency may come into play, but firstly we need to know what cryptocurrency is.
What is Bitcoin?
Bitcoin is the first cryptocurrency that uses block chain technology. Bitcoin has gained acceptance among the general populace for the past few years. As it stands today, cryptocurrency is rapidly gaining prominence to people who likes privacy and exclusiveness, and to those whom the awareness of using cryptography to device the making and circulation of money does not sound too mind-boggling.
Today, cryptocurrency, Like Bitcoin which is the most popular and others like Litecoin, Ripple, ether, Peercoin, etc. are shaking the financial institution like a Hurricane as more people are keying into the idea of investing and buying these currencies. And of course there ae people who skeptical about these currencies, there ae some who have refuse to take advantage while some are still sitting on the fence. Educating users about such alternative forms of currency is extremely important given its volatile nature.
Cryptocurrency is envisioned from the lowest level up to take benefit from the internet and how it works. Instead of depending on the normal orthodox financial institutions who authenticate and assure your transactions, cryptocurrency transactions are authenticated by the operator’s PCs registered into the currency’s system. Since the currency is secure and encoded, it turn out to be difficult to escalate the money supply over a predefined algorithmic rate. All users know of the algorithmic rate. Therefore, since each algorithm has a limit, no cryptocurrency can be produced or “mined” beyond that.
Since Cryptocurrency is totally in the cloud, it does not achieve a physical form but have a digital value, and can be used for digital equivalent of cash in a steadily increasing number of retailers and other businesses. There is always a charge for every transaction made but it is still very meagre compared to the normal credit card processing fees.
Bitcoin and cam girls?
Bitcoin is the most widely used currency since it was even the first cryptocurrency created, bitcoin has seen a massive success among the general populace. There are other cryptocurrencies such as Ripple, Litecoin, Peercoin, Ether, etc. There are also many cryptocurrencies that died a natural dead because nobody used them or believe in them, a cryptocurrency is only as strong as its users. Some of the salient features of Cryptocurrency include –
- The cryptocurrency can be converted to other forms of currency and deposited in user accounts at breakneck speed, this is certainly better than using tokens that are widely used in the webcam business.
- Most cryptocurrencies can be processed anonymously and can be used as discrete cash online anywhere in the world. Therefore, users do not have to pay any currency conversion fee. What will be more beneficial to the model and even the websites?
- Although it is not 100% immune to theft, cryptocurrency is generally safe to use and it is difficult for malicious hackers to break
- Bitcoin and other cryptocurrencies can be saved offline in a “paper” wallet or removable storage hard disk that can be disconnected from the Internet when not in use.
There is only one site, Xotike.TV, that uses bitcoin as a token as of today. The models at the sites are called bitcoin cam girls. However, bitcoin cam girls seem to be having hard time as Xotike.TV does not have high traffic yet.
The reason that bitcoin cam girls are not doing well is perhaps the high fees that bitcoin transaction takes. It can costs about $25 per transaction which is insanely high. Until high costs of transaction is solved, bitcoin cam girls are not likely to get popularity.
How cryptocurrency impacts camming business in future?
Some of the cryptocurrency has “smart contract” feature which automatically forces users to follow terms and condition that both parties agree. With this function, new site or company may come out utilizing cryptocurrency as its core competency. Such function allows users to cam directly through the some type of existing chatting tool such as skype while collecting money per minutes. Since collecting and handling payments will not be site responsibility, the cost will be much lower in which the fees that they have to take from models will be lower as well.
However, in order to utilize cryptocurrency as its payment method, the scalability is not high enough yet. The most known cryptocurrency for smart contract function is ethereum which has processing time of 16 transactions per seconds. This is too slow to adopt ethereum for the payment method as camming requires payment per minutes.
cryptocurrency has just started its development. The smartest engineer in the world is working on this subject everyday to improve the usage of cryptocurrency. Once scalability problem is solved, you can expect that new company comes out and you do not have to pay high fees.
It is just a matter of time and cryptocurrency will become the major means of transaction in the cam business.