Titcoin

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Titcoin Digital Currency
Titcoin Branded Logo (Horizontal).png
Titcoin Brand Logo
Denominations
Plural Titcoins, TITs
Nickname TIT
Demographics
Date of introduction June 21, 2014; 4 years ago (2014-06-21)
User(s) Worldwide
Issuance
Central bank Decentralized Peer-to-Peer Netswork

Titcoin (Ticker Symbol: TIT) is a type of digital currency called a cryptocurrency that uses pornography on a decentralized peer-to-peer network to manage the issuance of new currency units while simultaneously processing transactions.[1][2] Titcoin is a derivative of the bitcoin source code with key modifications to the software which greatly improve transaction speeds and network difficulty readjustments.[3] Titcoin is exclusively designed for and marketed towards the adult entertainment industry to allow owners of the currency to pay for adult products and services without the fear of incriminating payment histories appearing on their credit cards.[4]

In 2015, Titcoin received two nominations at the 2015 XBIZ Awards ceremony which honors companies that play an essential part in the growth and success of adult entertainment.[5] In 2016, Titcoin was nominated for a second year in a row as Alternative Payment Services Company of the Year at the 2016 XBIZ Awards.

As of mid-2017, it has a very low total market capitalization of about $100,000 USD. There is no notable trade volume registered.[6]

History[edit]

Titcoin was founded by three cryptocurrency advocates from New York City: Edward Mansfield, Richard Allen and a third anonymous individual.[7] The founders developed Titcoin for the adult entertainment industry as a cash alternative payment system for performing anonymous transactions.[8][9] Titcoin allows consumers of adult entertainment to perform transactions without using any personally identifiable information.[10][11] Titcoin also benefits adult businesses with zero chargebacks and freedom from dealing with traditional financial institutions.[12]

On June 21, 2014, the Titcoin cryptocurrency wallet and source code was released with an initial soft launch for the cryptocurrency community followed by a hard launch for the public.[13]

In September, 2014, former Wall Street stockbroker and Jordan Belfort protégé at Stratton Oakmont, Patrick McDonnell,[14] joined the Titcoin development team as a business development advisor.[15][16]

On May 29, 2017, Titcoin and its properties were acquired by the adult game development studio Joy-Toilet.[17]

References[edit]

  1. ^ Titcoin Analysis Paper The Licentious Blockchains: Outlining an Altcoin Subgenre. Banking & Insurance eJournal. Social Science Research Network (SSRN). Date accessed 23 January 2018.
  2. ^ Maguder, Natasha. "Explainer: How do cryptocurrencies work?". CNN. Retrieved 9 July 2014.
  3. ^ Moore, Lane. "Behind Titcoin, the New Anonymous Currency for Buying Porn". Cosmopolitan Magazine. Retrieved 30 October 2014.
  4. ^ Lynch, Gerald."Titcoin is the Bitcoin for Porn". Gizmodo UK. Retrieved 23 June 2014.
  5. ^ "Titcoin Receives Two Web & Tech XBIZ Nominations". Payout Magazine. Retrieved 18 November 2014.
  6. ^ https://archive.today/20170522065231/https://coinmarketcap.com/currencies/views/all/
  7. ^ Mercier Voyer, Stephanie. "Titcoin Is a Brand New Cryptocurrency for Porn Purchases". Vice Magazine. Retrieved 18 June 2014.
  8. ^ Spitznagel, Eric. "Who Actually Pays for Porn Anymore? An Investigation". Men's Health Magazine. Retrieved 14 August 2014.
  9. ^ Weisman, Carrie. "Porn Gets Its Own Currency". Design & Trend. Retrieved 23 June 2014.
  10. ^ "Crypto-Currency for the Adult Industry Titcoin Founders Interviewed". SoundCrave Magazine. Retrieved 28 August 2014.
  11. ^ "Your complete A-Z guide to cryptocurrencies". The Kernel. Retrieved 11 January 2014.
  12. ^ Stryker, Kitty. "The adult industry's growing war over Titcoin". The Daily Dot. Retrieved 15 September 2014.
  13. ^ Chang, Lulu. ""Titcoin" Is A Bitcoin-Esque Currency For Porn, And Only Porn, And We Can't Even". Bustle Magazine. Retrieved 23 June 2014.
  14. ^ Giles, Jeff. "Wolf of Wallstreet – Patrick McDonnell interview" Major Mindjob. Retrieved 29 January 2014.
  15. ^ Blue, Violet. "Why Is Wall Street Taking ‘Titcoin’ Seriously?". Playboy Magazine. Retrieved 24 October 2014.
  16. ^ "Patrick 'The Coyote of Wall Street' McDonnell Joins Titcoin". AVN. Retrieved 9 September 2014.
  17. ^ XBIZ. "Joy-Toilet Acquires Titcoin". XBIZ. Retrieved 2017-09-03. 

External links[edit]