Playboy to adopt cryptocurrencies as payment and why adoption is so important

Recently Playboy has announced that it is working on multi-crypto wallets so it can accept cryptocurrencies as payment for their adult entertainment products. This news is pretty important but it has gotten lost in the recent IMF and Google news. The reason it is important is not because playboy will represent a huge amount of transaction volume or will spike up the coin price, it is because it represents a significant company willing to accept cryptocurrency as a form of payment. The more places that accept cryptocurrency, the more commonplace it will become and the more resistance and support it will have against the financial sector and politicians trying to bring it down. One of the main issues with cryptocurrency right now is that it has no representation(or very little) in congress or in other governments and so it gets pushed around by the enormous lobbying and financial power of the finance sector. But if places like Playboy and other service providers and especially if places like Amazon or Starbucks start accepting it, crypto will gain spokespeople in congress and governments and will have good money on its side as well. The importance of adoption for merchants of Cryptos lies just as much as with the political power and clout they bring as it does with actual transactions happening with Crypto. If there are certain sectors with part of their fates tied into crypto, then they will spend the money lobbying for Crypto and against the anti-crypto banking and finance sector. This is why Goldman Sachs acquiring Poloniex via Circle is a big deal because it ties one of the giant financial firms at least partly with crypto and is the start of the in-fighting within the financial sector of supporting Crypto or trying to kill it.

Eventually I do believe more and more merchants will adopt crypto and we will see a shift of power within the government as more representatives become pro-crypto than anti-crypto. Regardless, this is why we should all be cheering for retail and even the financial sector to get more involved in cryptocurrencies.

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