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Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] and Monero [XMR] accepted for payments by adult site CamSoda

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Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] and Monero [XMR] accepted for payments by adult site CamSoda
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Bitcoin [BTC] and other cryptocurrencies in the market have been trying to gain more adoption in terms of real-world use-cases. One way of doing this is being accepted as a mode on payment in exchange for services. One of the main industries that have taken the lead in this regard is the adult entertainment industry. CamSoda, an adult entertainment company, announced cryptocurrency payment support for most of the leading cryptocurrencies in the market.

The first digital currency accepted by an adult site was Verge [XVG], a trendsetter in the cryptocurrency space. After a huge marketing round over a “mysterious” partnership that was billed as the “biggest collaboration in the entire industry,” the Verge team announced its partnership with PornHub, a popular website for adult content.

This partnership received both positive and negative responses from the cryptocurrency space, with a majority stating that it could push forth cryptocurrency adoption. The next notable announcement was Tron [TRX], currently the eleventh-largest cryptocurrency, being accepted as a mode of payment on PornHub. Additionally, the two coins also gained support from Brazzers, Natakugames, and Traffic Junky.



The acceptance of cryptos for payments by CamSoda is the latest affair between the adult entertainment industry and cryptocurrencies, Hard Fork reported. The leading adult industry player will allow its users to purchase tokens with seven different digital currencies. The cryptos listed on the platform are Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Litecoin [LTC], Monero [XMR], Tron [TRX], and ZCash.

Source: CamSoda | Hard Fork

Source: CamSoda | Hard Fork

Daryn Parker, VP of CamSoda, said in a statement to Hard Fork,

“Now that we are seeing more adoption of the technology, we decided to give our users what they’ve been asking us for some time”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

XRP

Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?

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Hash XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?
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Opinion: Bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which Bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if Bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with Bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from Bitcoin. A Twitter user @XRPMOONSHINE tweeted:

“DO ME A FAVOR OPEN UP A BTC/USD CHART AND AN XRP/USD CHART. THEY HAVE DECOUPLED AND ARE MOVING DIFFERENTLY.”

In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of Bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:



Conclusion

XRP may have started to decouple from Bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.





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