A new ICO from a bunch of porn stars

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by Simon Black, Sovereign Man:

It’s about time. Someone has finally discovered what the adult entertainment industry has been missing for so many years: blockchain.

It’s true: a bunch of porn stars have recently gotten together to launch Bunny Software Ltd, a new cryptofinance startup that aims to ‘disrupt’ how people pay for pornography.

Instead of charging your credit card for that Pornhub Premium account, now you can charge your credit card for Bitcoin… then trade Bitcoin for Bunny Tokens, then trade your Bunny Tokens for porn.

Seems like quite a bit of extra work to go through– especially considering there are already a number of ways to discreetly make purchases online.

Dozens of services exist, for example, that offer disposable credit card numbers to help anonymize online transactions.

They’re cheap. Safe. Efficient. And proven.

But in the heady world of cryptofinance, none of those benefits matters.

The only thing people seem to care about is whether or not you’re doing something with the Blockchain.

If you are, then your business must obviously be a winner… even when there is absolutely no rational reason why your product or service would even need the blockchain.

Remember– the Blockchain is essentially a de-centralized ledger… a public database that isn’t controlled by any single individual.

Think about your bank account as an example.

Every record of every financial transaction you’ve ever made at your bank is kept in a giant database… a database that is controlled by the bank.

The blockchain, however, isn’t controlled by any single individual. It’s a database whose contents are securely distributed among everyone who uses it.

There are certainly some spectacular uses of the blockchain, especially in finance.

Stock purchases. Property titles. Shareholder records.

But that doesn’t mean that EVERYTHING should be in the Blockchain.

I mean, seriously, do we really need to upload our weekly grocery lists, or childrens’ report cards, into the Blockchain?

Some data doesn’t need to be made public. Or decentralized. Or distributed.

But in their zeal to grab onto the hottest financial trend in the world right now, people are coming up with the most idiotic uses of the Blockchain.

I recently read an article on Bloomberg about an ex-Google employee that wants to use Blockchain to track pigs from the field to the grocery store shelf.

I’ve read about other guys using Blockchain to track tips that people pay to bloggers.

IBM is studying how to use the blockchain to track cannabis distribution.

There’s just no end to these useless applications of the Blockchain.

And now we’ve got Bunny Tokens… a way for people to pay for porn using the Blockchain.

The company recently launched an ICO to raise money.

And if you spend some time on Bunny’s website you’ll learn that the board consists of several porn stars and a porn director.

You also learn the company has already partnered with a few businesses whose names are so explicit I can’t mention them here.

Yet after reading through 42-page white paper and watching their pitch videos, I realized that Bunny isn’t relying on a sound business plan or any actual technology to attract investors.

Sex sells. And BunnyToken is using porn stars its board members to bait the crypto rich into investing.

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