Vice Industry TokenVice Industry Token VIT news

Price, 24h
0.001994 USD / 0.00000057
-10.94% / -10.94%
Volume, 24h
339 USD
5.36%
Marketcap
642,215 / < 0.01%
Emission
Chart price/vol/NIS 7d
Asset details

World latest news

Playboy files a lawsuit against blockchain company over Vice Industry Token [VIT] dispute

Playboy, an American adult lifestyle magazine, has reportedly sued a Canadian blockchain company, Global Blockchain Technologies [GBT] under the accusation of breach of contract and fraud. According to the case filed, the blockchain company did not integrate blockchain technology on Playboy’s online portal. The case has been filed with the Los Angeles County Superior Court. Reportedly, the company entered into the agreement with Playboy in the month of March. The main agenda of the agreement was to implement a technology with which Vice Industry Token [VIT] could be accepted on the adult magazines online portals. The adult magazine had announced that they were looking into creating an online payment wallet for cryptocurrencies. The company was supposedly going to be the first to launch a wallet which supports cryptocurrency. This would have enabled Playboy to accept payments with cryptocurrency and mainly, Vice Industry Token. Vice Industry Token [VIT] aims to reward consumers to earn from consuming content which is free online. They have partnered with various adult industry players like DDBusty, StormyDaniels, AnalX. The most recent collaboration of the platform is Tube8. VIT has lost over millions of cryptocurrency because of the partnership between Playboy and GBT. On the topic of the feud, the CEO of VIT, Stuart Duncan stated that he is “very disappointed with Playboy”. He said that the adult industry company did not reach out to them for tokenizing their online portals even after providing them with millions of tokens. The CEO further adds that “maybe” they have a reason for a lawsuit against Playboy as the company had provided them with tokens which is almost equal to millions of dollars and there was no benefit from doing so. Duncan said that he has no knowledge regarding the details of the agreement between Playboy and GBT Playboy also claims that the blockchain company has not paid around $4 million which was also a part of the agreement. The adult magazine company has filed the lawsuit claiming for compensation. However, GBT has dismissed all the allegation of the fraud calling it, “frivolous” and states that the dispute as a normal dispute amongst the companies. Recently, Pornhub and Brazzers announced that they would be accepting Verge [XVG] as a mode of payment from their customers. Following which, the leading adult industries announced that they will also be accepting Tron [TRX] for payments. The post Playboy files a lawsuit against blockchain company over Vice Industry Token [VIT] dispute appeared first on AMBCrypto.
AMBCrypto

Pornhub’s Tube8 Brings Porn to Blockchain by Rewarding Viewers with Vice Industry Token

Porn Site Tube8 Will Pay You Crypto for Watching Porn It could be the best news in the history of the internet. Pornhub subsidiary Tube8 just announced plans to pay users crypto in exchange for watching pornography. With over 150 million page views per month, Tube8 is one of the leading websites in the Pornhub family. Now, Tube8 wants to reward your porn-viewing habits with cryptocurrency. To do that, Tube8 is moving its entire platform on the blockchain. The news comes from Hard Fork, a subsidiary of The Next Web, which claims to have received an exclusive note. “…the company revealed it has entered an agreement with Vice Industry Token (VIT) that will see its platform entirely tokenized. The collaboration will enable users to earn VIT tokens for streaming and interacting with Tube8 videos.” Tube8 is expected to implement VIT into its ecosystem before the end of 2018. If successful, the implementation would make Tube8 the first major adult platform to adopt a token-based reward system and legitimately reward its users for watching pornography. You know there’s a catch. Of course there’s a catch. So what’s the catch? What’s The Catch? “For as long as I can remember, getting paid to watch porn was always a pipedream; one that was always dreamed about, but never fully realized,” Tube8 spokesperson Robin Turner told Hard Fork in their exclusive interview. “Now however, with the introduction of VIT, we are marking a paradigm shift in how people consume adult entertainment,” Instead of forcing users to pay money to consume content, Tube8 will pay users to consume free content. The more porn you watch, the more money you’ll earn. What’s The Catch? Tube8 has not yet released details of the program or how it will work. However, we expect there to be one big catch: the platform would likely set certain reward limits to prevent users from gaming the system for profit. However, Tube8 claims there won’t be a “catch” in terms of spending and using the Vice Industry Token. There won’t be any additional fees, for example, or high minimum withdrawal limits that would prevent users from accessing their legitimately-earned tokens. So why would Tube8 and Vice Industry Token partner? How is anyone earning money in exchange for you watching porn? Well, it’s important to note that you’re not getting paid money. You’re getting paid Vice Industry Tokens, which are arbitrary digital tokens created on the VIT blockchain. Their value is derived entirely from what people are willing to pay for the token. If Tube8 and VIT give away too many tokens, and the token reward system is unlimited, then the tokens will quickly lose their value. Tube8 and VIT also expect the token-based incentive system to foster interaction within the community: “VIT offers Tube8 a way to reward their viewers by monetizing content through the VIT protocol,” Tube8 told Hard Fork in the interview. “Whereas before users would log in, watch a few videos and leave, VIT incentivizes them to create an account and interact with the content to generate Vice Tokens.” Anyone will be able to earn VIT and anyone will be able to buy VIT. It will be the first token designed specifically to tokenize the consumption of adult content on tube sites like Tube8. This Isn’t The First Major Partnership Announced by Vice Industry Token Vice Industry Token (VIT) has previously made headlines across the adult entertainment community. Earlier this year, VIT collaborated with Stormy Daniels, the former porn star and current stripper who was famously bribed by Donald Trump’s legal team to keep quiet prior to the 2016 election. Vice Industry Token’s team also made headlines when Playboy announced plans to integrate the token back in May. However, Playboy’s plans for VIT implementation later fell through. In fact, Playboy has filed a lawsuit against the team that was scheduled to implement VIT into Playboy’s ecosystem – Global Blockchain Technologies (BLOC). Tube8 has 10 million registered users and 150 million page views per month. It’s one of the largest and best-known tube sites on the internet today. By combining the tube site with cryptocurrency, Vice Industry Token’s team could have a home run. Does VIT Have The Capacity For Tube8’s Traffic? Tube8 has 150 million monthly visitors. Does Vice Industry Token have the capacity to handle this type of traffic? Does any blockchain have the capacity to handle the monthly load of a porn website? Ethereum, for example, can handle just 15 transactions per second, while BTC can handle about 7. That’s far fewer than what’s needed on a website like Tube8. Vice Industry Token has plans to scale to accommodate modern adult entertainment websites. The development team plans to migrate to a forked version of the Steem blockchain (Graphene), which can purportedly handle 100,000 transactions per second. The VIT token itself, meanwhile, is an ERC20 token on the Ethereum blockchain, which means it’s unlikely to be able to handle the capacity of Tube8 in its current form. The VIT development team will need to solve these problems going forward. Fortunately, the VIT Steem blockchain hard fork is in active development. The team is working to make it bug free before migrating the token to the VIT mainnet. Which Tube Site Will Be Next To Implement Crypto? Tube8 is a subsidiary of Pornhub. If token integration is successful on Tube8, then it’s not a stretch to suggest that the entire Pornhub network could be next. That network includes major names like YouPorn and RedTube, along with the flagship website Pornhub. That could potentially represent enormous traffic on the VIT network. Tube8 amasses a modest 150 million monthly visitors. YouPorn, however, brings in almost 360 million monthly visitors. RedTube has 510 million, and Pornhub gets a whopping 2.8 billion monthly visitors. Final Thoughts The porn industry has long been one of the earliest adopters of new technology – including virtual reality technology and even 3D technology. Porn famously fueled VHS adoption back in the 1970s, then did the same with DVDs in the 2000s. It shouldn’t be a surprise that a major porn website would be the first to create a blockchain-based rewards system. If cryptocurrency is going to go mainstream, then we need the porn industry – and Tube8’s adoption of Vice Industry Token (VIT) could be the first step.
Bitcoin Exchange Guide

Pornhub Partner Site Tube8 Announces Partnership With Vice Industry Token

Tube8, a Pornhub subsidiary with over 150 million page visits every month, wants to incentivize consumers’ porn-watching habits with cryptocurrency. The company revealed it has entered an agreement with Vice Industry Token (VIT) that will see its entire platform tokenized. The collaboration will enable users to earn VIT tokens for streaming and interacting with Tube8 […] The post Pornhub Partner Site Tube8 Announces Partnership With Vice Industry Token appeared first on Hacked: Hacking Finance.
Hacked
More news sources

Vice Industry Token (VIT) news by Finrazor

Trending

Hot news

Hot world news

US CFTC Plans to Seek Public Feedback to Better Understand Ethereum Blockchain

The latest report on Ethereum future contract unveiled that the Commodity Futures Trading Commission (CFTC) is looking for an in-depth analysis of Etherum blockchain. In order to improve the commission’s understanding of Ethereum and its underlying technology, the CFTC has announced its intention to publish a respective Request for Information (RFI) with the Federal Register. According to the statement: “The Commodity Futures Trading Commission (CFTC) is seeking public comment and feedback in order to better inform the Commission’s understanding of the technology, mechanics, and markets for virtual currencies beyond Bitcoin, namely Ether and its use on the Ethereum Network.” The Commission has put up a total of 25 questions which include topics such as the impetus for developing Ether and the Ethereum Network, especially relative to Bitcoin; the use of the Ethereum network by the developer community; scalability challenges, if any, of the Ethereum network; proof of work and proof of stake; similarities and differences in the governance of Ethereum and bitcoin networks; introduction of derivative contracts on Ether; and security issues, among others. Notably, one question asks: “How would the introduction of derivative contracts on ether potentially change or modify the incentive structures that underlie a proof-of-stake model?” A number of questions following this go further into detail about how the ether market might impact a derivatives market built on top of it – or vice versa. The CFTC said the comments received will benefit LabCFTC, the CFTC’s Fintech initiative, and help to inform the Commission’s understanding of these emerging technologies.
BitZamp

Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market

Currently, when crypto believers generalize every Wall Street banker to be a Bitcoin critic, a celebrated hedge fund manager and former Goldman Sachs executive changed his perception. Mike Novogratz is a now a name beyond the mainstream finance, and perhaps among the only consistent voices speaking in favor of bitcoin even after its 80 percent-plus drop this year. The 54-year old financial veteran sat before Bloomberg’s Erik Schatzker recently to discuss how the crypto market crash impacted their ventures and how he remains confident about crypto’s long-term potential. Novogratz admitted being on the losing side, stating that his cryptocurrency merchant bank, dubbed Galaxy Digital Holdings Ltd, brought $136 million in losses to its investors when he was raising funds for it. Nevertheless, the crypto crash couldn’t put Galaxy beneath the grounds, and the project was still on its way to – at least – break-even in 2019, he explained. “We’re not nervous; we’re frustrated that our investors have lost money. We’ve got plenty of cash to run the business for a long time. I keep telling my guys we’re a surfer getting ourselves in shape for when the next wave comes, and when the wave comes we’d better be the Laird Hamilton of crypto.” Digital Gold in Making Analysts have continuously argued whether or not bitcoin has a use-case in the mainstream. A majority of them believes that the digital asset’s lower adoption make it an overvalued bubble similar to the infamous Tulipmania from the Dutch Golden age. Investors have entered bitcoin markets on a promise of getting rich quickly, and it is no more stable than a pyramid scheme, i.e., it is all horns but no product. Novogratz, on the other hand, interpreted bitcoin as a digital gold in the making, counterarguing that it is one of the only crypto assets that “gets to be a legal pyramid scheme.” Because, to him, it is the belief that denotes value to a store of value- nothing more, nothing less. “All the gold ever mined in the history of the world fits in an Olympic-size swimming pool,” reasoned Novogratz. “You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is.” As a metal, a store of value asset like gold does have plenty of use cases. Most notably, it is a good reflector of electromagnetic radiation such as radio and infrared rays, as well as visible light. Therefore, gold makes an ideal metal when it comes to protecting artificial satellites, astronauts’ helmets and in electronic warfare planes. But, in reality, only about 17% of the mined gold gets used in industrial applications – minus jewelry – while the rest gets stored inside vaults. That being said, the value of gold bullion itself is 83% speculation and 17% use case. Bitcoin, according to Novogratz, strictly possesses such characteristics. “The fact that David Swensen [Yale University’s chief investment officer] put an investment into Bitcoin, with his reputation on the line, his endowment on the line, tells you something. Some of the smartest people in the investing world think it’s a store of value,” Novogratz asserted. Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market was last modified: December 12th, 2018 by Davit BabayanThe post Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market appeared first on NewsBTC.
NewsBTC

Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now

CoinSpeaker Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now A former partner at Goldman Sachs who is popularly called the “pretty face of cryptocurrency” Mike Novogratz, said that he is now the ugly face of the bust. Talking to Bloomberg, he pointed at SEC sanctions on certain ICOs and the uncertainty surrounding Bitcoin Cash’s hard fork as the reasons behind Bitcoin’s drastic fall from $6,200 to $3,400. However, Novogratz remains confident that Bitcoin will make a comeback. “I do believe Bitcoin is going to be digital gold. We have a business that we think can break even next year, if not make money. We’ve got plenty of cash to run the business for a long time. I keep telling my guys we’re a surfer getting ourselves in shape for when the next wave comes, and when the wave comes we’d better be the Laird Hamilton of crypto.” First, says Novogratz, they thought of crypto as of a bear market. “I went into it thinking in the long run crypto is going to be a real structural shift in the world and I can just hedge my portfolio. And to be fair, we did a really great job not losing money the first 60 percent down. What you forget is that a market like Bitcoin that’s down 84 percent has dropped 60 percent—and then another 60 percent. That’s where the pain happens. You start buying Ether again, because it’s only $400 after being at $1,300. But then it drops to $100, and you’ve lost 75 percent of your money. We haven’t done horribly in that context, but we’re still down.” He then explains what he thinks it’s next for crypto-world. He invested in a company called High Fidelity, which is a virtual world. “Me and you, we’ll sit down, and we’ll have virtual beers. People think I’m crazy when I say that, but Second Life does $500 million a year of GDP, real money traded back and forth in a virtual world with old technology. That’ll be the first use case where blockchain really works.” One of Novogratz ventures in the field of digital currency is the cryptocurrency bank Galaxy Digital LP which began trading back on August 1st, 2018. The bank was off to a very slippery start, losing 20 percent per share in a single day, which added to the company’s overall estimated losses of about $134 million in Q1 of 2018. At the time, the former Goldman Sachs partner once again said that he thinks “we’ve pretty much bottomed.” However, the market has plummeted since, as Bitcoin lost roughly another 60 percent of its value. Yet, Novogratz says that the situation is “not as dramatically as one would think.” Bitcoin Price Rise was Like a Drug High Addressing the fears surrounding Bitcoin he explains the price rise as a drug, “an instance of testosterone boiling over and its fall led to pessimism and rampant fear.” He said: “That was a drug, and I don’t say that lightly…there’s the pessimism, and the fear, and the “Oh my God, it’s going to zero.” But it’s not going to zero. We’re at the methadone clinic.” Novogratz had already been saying that the Bitcoin could hold its position till the end of the year and maybe rise, but then disaster struck. He thought Bitcoin, “was going to hold at $6,200…. but then Bitcoin Cash decided to fork again.” He also mentioned that ICO legislation by the SEC increased investor panic: “The SEC came out and sanctioned a few ICOs and said- oh, by the way, your investors can sue for damages. That scared the heck out of a lot of people.” Novogratz further added that “the ICO market is pretty much dead right now,” however, the regulatory body, “doesn’t want to kill this innovation.” Many crypto proponents of Bitcoin have equated the top crypto to digital gold, Novogratz is one among them, he said: “That means Bitcoin is the only one of the coins out there that gets to be a legal pyramid scheme. Just like gold is. All the gold ever mined in the history of the world fits in an Olympic-size swimming pool. You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is. While I believe in the underlying technology and believe in the crypto movement, when prices get stupid, I sell. A lot of my friends in crypto just couldn’t let go. They were saying that this is going to change the world. Revolutions don’t happen overnight. I’d be walking down the street, and people would come up to me wanting to take selfies. That’s when I started to think, OK, this is weird.” Always Cautious About Bitcoin as a Currency It’s more than obvious that he is still being cautious. A year ago, he was known as one of the biggest pro-bitcoin advocates but always saying that bitcoin will be difficult for governments to shut down. “I’ve got concern that if price movements go higher we’re going to get more regulation, but I think it’s hard to shut down. I don’t think that’s a probability. Banks will be slow to move into the industry,” Novogratz then said, adding that he “doesn’t see quick adoption of bitcoin as a currency.“ He also said that one of the big risks out there right now is that prices are moving so fast that regulators are going to get nervous. “I could legitimately see bitcoin go $13,000, $14,000, $20,000, $25,000 and see somebody balk.” He also warned on the fact that right now most regulators, including those in the U.S., are working with the digital currency system and are “intrigued” by it. Today, one thing where Novogratz remains firm is that he reiterates his view saying institutional entry is key for the Bitcoin price surge. Unless that happens, a sustainable price surge in Bitcoin seems a distant dream. Novogratz says that perhaps we can see a significant institutional money flow in the first half of next year, 2019. Steady Growth or Nuclear Winter for Crytocurrency? Despite a huge cryptocurrency market crash, VC billionaire Tim Draper believes, the value of Bitcoin will keep going higher in the upcoming years. Speaking to Thiel Macro’s Mike Green earlier this month, the billionaire said he believes virtual currencies will eventually overtake fiat currency, making up two-thirds of the world’s currency value. “Down the road, when we can easily spend, or invest, or do whatever we want with cryptocurrencies—they’re frictionless, they cost you less,” Draper told On the other hand, the billionaire investor and venture capitalist Jim Breyer believes that the promise offered by the technology is too great for it to be permanently buried by short-term market movements. Breyer kept saying that the technology is too big to be dismissed just because of a temporary bear market. He warned that “we’re close to a nuclear winter right now with cryptocurrency.” Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now
Coinspeaker

Cubits is Bankrupt and Withholding User Funds As OneCoin Ties Exposed

Anger continues to engulf cryptocurrency trading platform Cubits after executives suddenly announced the company was bankrupt, blocking all user funds. Cubits Owner: Funds Recovery ‘Unsuccessful’ In a press release dated December 11, Dooga Ltd., the UK-based entity trading as Cubits, claimed “collusion” which resulted in a “criminal act” involving the loss of €29 million ($33 million) in February 2018 had forced it to shut down. “Since February, Dooga has made every possible effort to recover these funds,” the release reads. Unfortunately – contrary to expectations – these efforts have been unsuccessful up until now. As Bitcoinist reported December 11, officials had told users on Twitter that Cubits was undergoing “maintenance” and would “be right back.” An identical message had appeared on the company’s website, but on Tuesday this changed to a 500 error message and the website went offline. A fresh tweet then confirmed Dooga had entered administration, leaving already frustrated users bewildered at the conflicting official information. Cubits had begun delaying withdrawals by weeks, some said, while another told Bitcoinist he was looking to involve law enforcement as a result of the company withholding his money. Payments Coordinator Endorses OneCoin At the same time, curious activity among senior management revealed the company’s payments coordinator Eloise Debono to be an advocate of OneCoin, a defunct Ponzi scheme, which has attracted warnings from multiple countries’ authorities over illicit practices. “Bitcoin can be bought and sold on many different exchanges, meaning you could be paying or receiving more or less than you should be,” she wrote in a bizarre article in 2016. OneCoin uses one centralised exchange called OneExchange, where there is a fixed rate for buying and selling. I personally think this is more secure and less volatile. COO Max Krupyshev, listed on LinkedIn as Cubits’ “head of crypto business,” left in November, weeks before users began to complain about withdrawal and funds access problems. Liquidator: Cubits Operator ‘Secure’ According to the company’s administrators, users will receive official correspondence about the debacle in the coming days. “Our goal is to achieve the best outcome for creditors generally at the earliest possible date,” Steve Parker from insolvency firm Opus Business Services Group commented. “Dooga’s current position is secure, investigations are proceeding and we will be writing to creditors, formally, this week.” What do you think about the ongoing Cubits debacle? Let us know in the comments below! Images courtesy of Shutterstock The post Cubits is Bankrupt and Withholding User Funds As OneCoin Ties Exposed appeared first on Bitcoinist.com.
Bitcoinist

Tezos [XTZ] up by 13%; boost comes after Huobi Global teases listing

Tezos [XTZ], the token which ranks on the 20th position on CoinMarketCap’s list, has been going through a rough patch, owing to the strong bear market. However, the time appears to have been changing for XTZ as it has been seen siding the bull. Source: CoinMarketCap According to CoinMarketCap, the coin was valued at $0.41 with a market cap of $252 million, at the time of press. The coin reported a 24-hour trade volume of $2 million and grew by 1.80% in an hour. The maximum trade volume of the coin was registered by Gate.io, with a market cap of $510,404 with XTZ/USDT pair. It was followed by UEX on the second and third position. UEX on the second position registered a trading volume of $398,341 with XTZ/USDT pair and on the fourth position, the market cap was noted to be $394,993 with XTZ/BTC pair. Source: CoinMarketCap This comes after the coin was valued at its lowest at $0.31 recently, with a low market cap of $192 million. The trading volume of XTZ was reported to be $3 million. The rise in the coin’s prices is speculated due to getting listed on Huobi Global. Huobi released a statement informing the crypto world about this. It read: “Tezos (XTZ) will be launched on Huobi Global on December 12, 2018 (GMT+8). Deposits will be available from 14:30, December 12, 2018 (GMT+8). XTZ/BTC and XTZ/ETH trading will be available from 18:00, December 13, 2018 (GMT+8). Withdrawals will be available from 14:30, December 16, 2018 (GMT+8).” Even though the coin is struggling to make over $2 million in trading volume, it has reported an uptrend by 13% over 24 hours. Meanwhile, there have been constant talks about Tezos being listed on Coinbase over the past couple of months and many holders are hopeful about the same. On December 7, Coinbase released a list of potential cryptocurrency list, which may be a part of the new listing. This listing included tokens like Cardano [ADA], EOS [EOS], Stellar [XLM], XRP [XRP], and also Tezos [XTZ]. An update is awaited on Coinbase’s end about the final listing. Tezos seem to be upping its game and fighting the bear head-on. The post Tezos [XTZ] up by 13%; boost comes after Huobi Global teases listing appeared first on AMBCrypto.
AMBCrypto
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.