Bitcoin and the crypto community had another reason to strengthen their faith in the industry. Content subscription service OnlyFans has decided to ban all pornographic content from its website, according to a Bloomberg report.
The decision is set to take effect on October 1, 2021. The company appears to have taken the measure after coming under intense pressure from its partners, banks and payment providers.
Founded in London, OnlyFans was founded in 2016 and its business model has brought it great popularity and success. The Platform allows creators, most of whom are sex workers, to monetize their products. Users named “fans” buy content directly from creators.
Despite its success, it appears the company will have a hard time attracting investors. A separate TechCrunch report claimed that ” OnlyFans is seeking funding for a $ 1 billion valuation. In a possible introduction to the decision to ban explicit content, the platform is launching the app as” safe for business.”
The move attracted the attention of the bitcoin and crypto community, with many users classifying the decision as the platform’s “insidious move” and dealing a low blow to content that made it possible to achieve success. The crypto industry has faced similar censorship from content platforms, banking institutions and regulators.
Investors Alistair Milne says: Bitcoin isn’t shutting anyone down…
legal content, a lifeline for some, is actually banned for insulting the sensibilities of financial gatekeepers pic.twitter.com/sJDYKoHo3O
– Niraj K. Agrawal (@NeerajKA), August 19, 2021
The Version Of OnlyFans Running On The Bitcoin Lightning Network?
Legal expert Preston Byrne said OnlyFans ‘ decision to ban explicit content created an “opportunity” to launch “the first version of crypto.” This could be supported by rail’s own bank and credit card company. Byrne added:
He would immediately have millions of customers and would never have to face the problem again…).
Many pl
