spanktosh1's comments

The hacker was also kind enough to audit two of our other contracts pro-bono :)

From the intro of the whitepaper:

https://spankchain.com/static/SpankChain%20Whitepaper%20(EN)...

The $100B adult entertainment industry has faced routine discrimination at the hands of banks, payment processors, and financial institutions. These service providers simply refuse to service those in the adult industry. In 2014, JPMorgan Chase closed the bank accounts of several high profile porn stars and their families without justification . In 2015, Visa and Mastercard stopped processing payments for advertising on Backpage.com. Paypal is notorious for closing the accounts of performers and seizing their funds. This discrimination and censorship has persisted despite the FDIC declaring it unconstitutional and in violation of the First Amendment.

Making matters worse, middlemen in the adult entertainment industry have historically extracted exorbitant fees due to a lack of competition in the space. The popular adult-friendly payment processor CCBill takes a 10.8-14.5% cut of payments and charges a $1,000 'high-risk’ registration fee annually, pricing out many potential entrepreneurs. Most adult camsites take between a 30-50% cut of performer earnings, and adult content marketplaces such as ManyVids take a 40% cut or more.

Blockchains represent a viable alternative to the discrimination and inefficiencies of legacy financial institutions. Public blockchains are globally distributed systems of record that provide permissionless access to anyone with an internet connection. Anyone, regardless of their profession, can use a public blockchain to store their funds and transact without fear of having their accounts shut down. Blockchain transactions also have strong finality guarantees, so the fraudulent chargebacks used as justification for classifying adult entertainment businesses as ‘high-risk’ are effectively impossible. Further, blockchains such as Ethereum, which support smart contracts, can be used to decentralize the business processes of expensive middlemen and render them obsolete.

I fired him.

What makes you think we want your sympathy?

SpankChain - it's porn on the blockchain, check it out - beta.spankchain.com.

If you accept the premise that blockchains are coordination platforms, because they dramatically reduce the cost of making credible commitments to future cooperation, then you should accept that the most disruptive opportunities will require unprecedented levels of coordination - coordination at a scale that most people think is impossible or infeasibly expensive, but that those who have mastered cryptoeconomics know is now feasible.

Imagine the differences in coordination potential of two societies where only one has mastered time, and you start to get a sense of why this technology is so powerful.

You're right. We were just trying to have some fun with it in the spirit of healthy competition. I reposted it separately.

SpankChain (ethereum + porn) is hiring:

- front/back/full-stack devs

- smart contract devs (ETH)

- UI/UX designers

- project managers

- technical customer support

- community manager

- social media

We have offices in LA and Toronto, and half our team is remote.

Email me your CV: [email protected]

SpankChain is also hiring:

- front/back/full-stack devs

- smart contract devs (ETH)

- UI/UX designers

- project managers

- technical customer support

- community manager

- social media

We have offices in LA and Toronto, and half our team is remote.

Email me your CV: [email protected]

P.S. If you get an offer from PornHub for their "top secret project" (aka, pornhub ICO), let us know! We'll beat their offer.