26 Sep '13, 8pm

This is the world's first Bitcoin brothel

This is the world's first Bitcoin brothel

Birmingham, U.K., service VIP Passion—touted as “the ultimate midlands escort agency”—may boast the typical assortment of partners-for-hire, but now they’re offering something no rival, or indeed any other brothel on earth, really can: sex for bitcoins. (Or “companionship” for bitcoins, to borrow the company’s euphemism.) In some ways, it’s surprising that the peer-to-peer cryptocurrency hadn’t cropped up in the field of prostitution before. Other illicit economies, from the drug market to online gambling , were some of the first to adopt bitcoin, in part for its supposed untraceability . VIP Passion did cite the anonymity factor in their move, noting how credit card charges have caused lots of headaches for escort services in the past. But even if using bitcoins doesn’t make it harder for law enforcement to prove that sex was bought, there are other industry-specific adva...

Full article: http://www.dailydot.com/business/british-escort-service-a...

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