Unpopular/Popular Opinion: Gambling, Drugs and Porn – A sure way to get the general public onboard with all things crypto.

This may seem antithetical, the complete opposite of good sense, when it comes to encouraging cryptocurrencies in the mainstream. But as people start using crypto when engaging with these services, they will become familiar and knowledgable about using them in other more general circumstances.

So let’s be honest with ourselves… Gambling is an essential part of our sports and entertainment culture. We had a War on Drugs in which the Drugs clearly won. And Sex work is literally referred to as the ‘oldest industry’.

• Gambling – (US $44B – Global $516B) Satoshi Nakamoto included the framework for an on-chain virtual poker game in the original 0.1.0 Bitcoin code (left unfinished). Was he experimenting with an early use case for Bitcoin? Tinkering with a complementary project? Who knows? Then, in March 2010, less than 18 months after the publication of the original whitepaper, the world’s first bitcoin poker tournament got underway, with BTC functioning as the unit of account. Back then, buy-ins were set at 50 BTC, with the winning player making out with a symbolic 1,000 BTC. If the winner had hodled his prize until the present day, he’d be sitting on a $50 million fortune right now. So with security, transparency, privacy and immutability, crypto has always been seen by both the gambling industry and the customers, as a natural fit.

• Drugs – Specifically the cannabis industry (US $21B- Globally $150B) has been classified as an “essential business” around the US (providing non-addictive medicinal relief to patients and steady employment for thousands of people). Despite this designation, the industry still does not have access to the federal banking system, forcing companies to conduct mostly cash-only transactions. With privacy, convenience, and obtuse federal laws, there is a strong use case for cryptocurrencies – although curiously not yet many clear links between the two industries. Maybe the cannabis industry, is hoping to avoid further controversy?

• Porn – (US $12B – Global $97B) OnlyFans with 130 million users, have been threatened by payment processors, Visa and Mastercard to withdraw from publishing ‘adult’ and ‘explicit’ material. However alongside the rest of the porn industry, who have been accepting crypto since 2017, this is just another opportunity for crypto merchant payment systems – if they so choose. Who pays for porn though? I don’t know, but maybe ask one of the webcam performers when you log in tonight?

Cue the Coke and Hooker memes and jokes!

Sources and further reading: https://bitcoinplay.org/resources/gambling-news/was-bitcoin-creator-satoshi-nakamoto-a-poker-pro/

https://www.cannabistech.com/articles/crypto-cannabis-and-other-financial-opportunities

https://www.forbes.com/sites/markhay/2018/10/31/cryptocurrency-finally-takes-off-in-the-porn-industry/?sh=2b2201a0629e

(The author and this sub r/cc does not recommend, endorse or encourage, the use, appropriation or promotion of any illicit substances or illegal activities – stay safe kids!)

EDIT – So in the comments discussions, we have Vechain $VET as a possible solution for tracking and legitimizing the authenticity and distribution of cannabis strains, from grower to consumer, and various coins used for payments. And Theta $THETA for the distribution of video streaming services without the need for centralized systems. Basically this is already happening, and isn’t even controversial at this stage.