Fun With Bitcoins

‘Tits For Bitcoin': Webcams and Cryptocurrency Are a Match Made in Heaven

It's not that surprising, if you think about it.
(Screengrab via TitsForBitcoin.com)

(Screengrab via TitsForBitcoin.com)

We know you can use bitcoin to buy booze and breast implants, and you used to be able to use it for drugs. But the three-month-old site Tits For Bitcoin (yup), which lets you trade cryptocurrency for webcam models, is a new one. Too much bitcoin, not enough things to spend it on — apparently, the site’s founder tells us, that’s a problem people have.

The typical Bitcoin user will be interested in technology, founder Jay Cee (who prefers not to use his real name) told Betabeat, and “porn is always pushing the boundaries in technology.” So bitcoin and webcam porn have quite the tidy symbiotic relationship.

Using bitcoin to pay for taboo material solves one at least one problem inherent to porn consumption: no more porn websites showing up on your credit card bills. Take that, nosey spouses, children and parents!

Bitcoin can’t be used for many typical porn operations, though, because standard porn video websites rely on a subscription model — often profiting most by collecting cash from members who haven’t used a site in years.

“You can’t set up a subscription-based model with bitcoin,” Mr. Cee says, “and that has been the fundamental flaw for major porn companies in taking on board bitcoin.”

But with the webcam business model, consumers only pay when they use the site, Mr. Cee says. Webcam users can chat directly with models and ask them to perform sexual acts while the customers watch a live stream. They then “tip” the models with site credits, which models collect in bitcoin. This also cuts down on transaction fees.

Thus, Mr. Cee explains, models and consumers alike benefit from the Bitcoin payment system. Models receive 80 percent of the proceeds from their work on Tits For Bitcoin, while Mr. Cee says models on other sites only get about 50 percent. Webcam models can make hundreds of dollars in a day, according to the New York Times.

After three months, Tits For Bitcoin has about 80 models and 300 active users. The site doesn’t do any advertising; most users end up at the site through searches.

Mr. Cee started the site in a few days because he had always wanted to build a webcam site. He first set up boobsforbitcoin.com, which was inspired by Reddit’s GirlsGoneBitcoin subreddit (link NSFW) and his affinity for the original webcam sites. He hired some women who had been using the GirlsGoneBitcoin thread, and as users requested more features, the site evolved into Tits For Bitcoin.

So, yeah, a future when we use bitcoin to overthrow corrupt financial institutions is still pretty far off. But in the meantime, we can ask webcam models to stick spatulas up their butts and pay for it in bitcoin, to there’s that.

Follow Molly Mulshine on Twitter or via RSS. mmulshine@observer.com