Pornhub and the Value of Bitcoin

Abstract

In December 2020, Visa, Mastercard, and Discover stopped processing payments for Pornhub, a website based in Canada that allows users around the world to upload and view pornographic videos. Cut off from traditional payment processors, Pornhub had to rely on cryptocurrencies. I consider the extent to which deplatforming Pornhub increased the value of bitcoin and other cryptocurrencies accepted on the site.

Keywords: bitcoin, cryptocurrency, deplatforming, financial privacy, payments, platforms, Pornhub

JEL Classification: E41, E42, G23, K42