Tag Archives: TalkSugar

Goodbye, TalkSugar (Did Bitcoins Bite Them In The Ass?)

Can it really be months since I’ve posted here? Ah, well, time flies when you are creating and moving 23 PSO websites from Blogger to self-hosted WordPress sites. (Among other things!)

As you may have heard, on November 16, 2013, Canadian phone sex platform TalkSugar announced it will be closing:

Dear valued SugarHosts,

It is with great regret that we have decided to shut our doors. It’s been a great 9 years!

Unfortunately, we have lost all of our remaining merchant processing and are in a dispute with our providing banks to unfreeze our U.S. dollar reserves.

Luckily, we have Bitcoin reserves that remain unfrozen and are able to pay all of our valued hosts with them.

To receive immediate payment, please proceed to the “My info” page and change your payment method to “Bitcoin”. Do this as soon as humanly possible please.

The Bitcoin instructions are here.

We are aiming to do a clean shutdown as quickly as possible while our lawyers figure out how to clean up the mess with our banks. I’m sure some of you understand how hard it is to process credit cards in the adult industry, and know our pain first hand.

We appreciate your business and your understanding with this matter.

– TalkSugar Staff

Translation: PSOs at TalkSugar will be only be paid in Bitcoins, presumably while they last. Those who do get paid in Bitcoins may not like the amounts they see either, because the value of Bitcoins is as stable as stock prices. Many are, in fact, speculating that it was the Bitcoins themselves which damaged TalkSugar’s business.

TalkSugar also has an affiliate program, PimpDollar. And while they did not notify affiliates (something one only discovers by logging into their account), affiliates too must now accept payment in Bitcoins. And it is recommended that one do that as soon as possible.

The official close date for TalkSugar has been stated as December 31, 2013; presumably to allow clients to use up the funds in their accounts (because they are not getting refunds with the frozen financial assets thing).

As a result of all of this, I have removed links to TalkSugar from the sidebar, etc.

For those who are interested, here are just some of the recent news about and opinions regarding the confusing world of Bitcoins:

* Bitcoin stock exchange BitFunder announces closure

* More bitcoins, more problems: How hackers are targeting bitcoins

* Bitcoins seized in Silk Road raid

* A Bitcoin Insider On Crime, Congress And Satoshi Nakamoto

* Bitcoin Is the Segway of Currency

* Bitcoin beginning to go mainstream

* The Critics Say Bitcoin is Doomed — Here’s What They’re Missing

* Bitcoin Shakedown: We ALL can learn from adult businesses in Brand Monitoring

And the more useful 12 questions about Bitcoin you were too embarrassed to ask.