Cryptocurrency: Oldest Profession Adopted Crypto Ages Ago

[grarpamp]

http://www.lasvegasnow.com/news/i-team-las-vegas-strip-club-accepts-cryptocurrency/953342642

Posted: Feb 5, 2018

A Las Vegas strip club accepts cryptocurrency.  Patrons can pay and
tip using forms of payment like Bitcoin.

Nick Blomgren is a martial arts master and also a businessman who had
cryptocurrency on his radar. Cryptocurrency is a digital currency in
which encryption techniques are used to regulate the generation of
units of currency and verify the transfer of funds, operating
independently of a central bank.

“We came up with an idea probably about a year and a half ago of how
we could turn this bitcoin into something,” said Blomgren. “So we were
brainstorming. First, we were thinking about a fight company because I
own a mixed martial arts gym.”

But after throwing out idea after idea, Blomgren said there was one
that really stood out.

“I was like well that would work better in a strip club,” Blomgren said.

Blomgren’s decision is how the Legends Room was born last year.

“It’s the best place to spend it if you don’t want your wife to know
or you don’t want your boyfriend to know,” Blomgren said.

Here’s how it works: Customers who already own cryptocurrency can
spend it by providing a lengthy number from a digital wallet. If they
don’t own cryptocurrency, they can still spend their money without
cryptocurrency or use an ATM to buy it.  Some of the exotic dancers
then wear temporary tattoos that can be scanned so they can be paid.

“And that’s how we do private rooms,” said Brenna Sparks, an adult performer.

Vanessa Murphy, I-Team Reporter:  “How often do customers want to pay
with Bitcoin?”
Brenna Sparks, adult entertainer: “Oh, quite often.  Like the people
that come here, they are like really into crypto. I feel like it’s
very smart. They are really into that.”

The dancer whose stage name is Brenna Sparks, says she became
interested in cryptocurrency when she was just 19 years old. She’s now
26 years old.

“It’s peer to peer.  It’s anonymous, and it’s instant,” Sparks said.

Sparks says she and her friends think cryptocurrency may be the future
for adult entertainment workers.

“I’m not going to name names, but there are certain banks that… will
shut down your account and actually deny you from having an account
because we work in the adult entertainment industry, said Summer
Chase, adult entertainment worker.

The club’s DJ, known as Saint Clare, says part of her deal at the
Legends Room is that part of her paycheck is cryptocurrency.

“When I first heard about the concept, I thought wow this is really
something different, you know,” DJ Saint Clare said.

Vanessa Murphy, I-Team Reporter: “Do you check your account a lot?”
Brenna Sparks, adult entertainer: “I do (laughs).  It’s fun though.
Once you invest, it becomes an everyday thing.”

“They’re seeing these guys come in and spend a lot of Bitcoin, so
they’re like wow how do I get into Bitcoin or what coin can I buy,”
Blomgren said.

The Legends Room also has its own cryptocurrency called LGD.

“Your asking prices are all there. Your bids are there,” said Blomgren.

Vanessa Murphy, I-Team Reporter: “Is it a big draw?”
Nick Blomgren: “It is starting to become a bigger draw.  You know in
the beginning it was like a lot of bitcoin guys came in, a lot of LGD
members came in and wanted to use their LGD to see if they can buy
anything here at the club because nobody really thought that the club
existed in the beginning.  So now it’s, it’s become like curiosity.
Let’s go down there and see if we can use our cryptocurrency.”

Sure, some clientele is still making it rain regular currency at the
club, but for others, a night at the strip club is also about the
technology.

“You get something for this. You get to come here and enjoy strong
drinks and meet beautiful women,” Blomgren said.

The value of cryptocurrency like Bitcoin has taken a plunge, and it
faces scrutiny. Facebook just announced it would no longer accept ads
for cryptocurrencies, banks are banning the purchase of
cryptocurrencies with credit cards, and there’s been a crackdown by
governments internationally and here in the united states.

There are concerns about cryptocurrency getting in the wrong hands for
fraudulent activity, but talk to fans of cryptocurrency, and some will
tell you they believe it’s an investment worth making.