Today we are talking about a proposed cryptocurrency for adult webcams which is called Shine Coin. Moreover, we are discussing a yet to be launched cam site called ShineCams which is apparently using an ICO as a way to fund their hopeful launch of a new adult cam site. To make it sound better than just saying, “A new cam site” they are calling it a masturbation aggregator. OkAAAy!
Before we get started, let me just say we don’t create the stories we share at AdultWebcamNews.com, we merely report what is happening in the adult webcams space. With that being said some of the stories we get tips on are not just far-fetched, but flat-out silly. This is one of those stories, if not for the concept itself also for the misinformed execution, the shoddy press release that was sent to us published below, and organizational structure (or lack thereof) behind the site. To put it mildy, Shine Coin and Shine Cams looks like it’s all hype and no content; no different from the vast majority of new adult webcam start-ups.
The back story. On July 18th 2017 we ran into a Twitter account hyping a new cam site calling themselves a “webcam chat aggregator” @imshinemodel, then we bumped into another Twitter account @ICOShineCoin promoting a supposed new cryptocurrency called the Shine Coin. Shine Coin claims to enable anonymous sex cam shows. The initial benefit itself we’d challenge as not being a problem, but there’s lots of meat on the bone here without even getting into that; so we’ll focus on the obvious after sharing below the press release Shine Coint sent us.
We reached out asking for an original press release. We anticipated substance, instead got the press release below.
Masturbation aggregator will appear on the internet
There are many sites for an adult audience on the Internet. Such as webcam sites where a user receives an opportunity to interact with models. A lot of people work on such sites.
Webcam model’s job is not as simple as it might seem. And of course any model wants to earn more. To do this, you can try to broadcast on many webcam sites at once. But it is extremely inconvenient to do it even with 2 sites, not to mention 3. Many models have to buy additional equipment for convenience.
ShineCam Company wants to provide an easy tool that will be beneficial for models. ShineCam team announces the creation of an adult webcam aggregator. The site will allow models to work on multiple sites simultaneously using only one tab of a browser. It’s time to forget about inconveniences and earn more money.
This is not just another webcam chat, the project was founded by former models. That’s why ShineCam knows the details of how to work.
To implement company’s project, it is necessary to attract investment through ICO. Ethereum based crypto currency ShineCoin was created to do this. This coin gives an opportunity to get a guaranteed 50% discount on ShineCam services.
If you will buy a coin right now, you will receive a bonus within two years. Anyone can become an investor and make money on it. Visit http://shineco.in to find out all the conditions.
During ICO ShineCam offers unique conditions for all who want to cooperate with the project. To do this, you must join our information campaign:
Since the site will not only be an aggregator, but will also be a full-fledged platform for adult online shows, you will receive your income not only from aggregated services, but also from users of ShineCams.com. If you will support ShineCoin in the period before August 25, 2017 you will receive 70% of all money that will be spent on you. This percentage will be valid for you forever. To find out the details and join the information campaign, visit http://imshinemodel.com.
Promoters and webmasters.
It is extremely important that as many people as possible learn about the project. Therefore, company offers simply incredible terms of cooperation. If you will join our information campaign before August 20, 2017 ShineCam will apply a 1.3 increase factor to your standard rates. And these conditions will be valid for you forever. To find out the details and join the information campaign, visit http://shinecash.com.
Become a part of the project, which will change the entire industry.
So that was the press release we got. Clearly a good grasp of the English language is something they do not have.
Also below is a video pitch we found on YouTube about Shine Coin.
So here is our complete takeaway after reading articles, tweets, and publicly available informaton about this project on a number of different forums.
7 Reasons Why Shine Coin and Shine Cams will fail …or never even launch
- For those who understand cryptocurrency and think decentralized money is a great idea in concept, they also usually understand the fact that people are not going to invest their savings in a cryptocurrency that is centered in the adult webcams business. Not gonna happen. Period.
- Trust is the bedrock of cryptocurrency the same as fiat money except control is decentralized, ShineCoin does not even want to share who is behind the site. Mystery does not always equal mystique or prestige. Submitting a press releases littered with spelling errors probably isn’t going to get taken very seriously.
- Existing top cam sites already have systems in place to make purchases of cam girls shows look like normal banking transactions, and not adult entertainment. Therefore, there is no big benefit of a supposed new currency.
- Cam sites that have developed their own platform tokens or credits make money from unused tokens and that is one of the reasons why they use these tokens in the first place. All but one of the top adult webcam platforms use proprietary tokens or credits. These are not blockchain based or tokens that have any value on other cams sites. This business models gives cam sites a competitive advantage or so they believe; thus the ShineCams stated competitive advantage, is fiction.
- Vastly under-forecast user acquisition costs: If you read this more in-depth pitch about this proposed adult webcams cryptocurrency you will note that the cam site (which is yet to be built) seems to think a quarter million dollars will get the cam site launched with an initial traffic flow. That’s not gonna happen.
- Giving discount services on their own cam site (ShineCams) would inherently mean no other mainstream cam sites would adopt the shine coin. so you holding a coin you can only use for cam shows at 1 cam site with little traffic, if any; if the cam site ever even launches.
- The stated goal of, “We focus on crypto-currencies to reduce the cost of financial intermediaries” is a misunderstanding of the industry. Adult Webcam payment processors are able to drive more sales for cam sites in many cases by allowing PayPal and other well established payment channels that otherwise are not accessible. Not to mention that 5% to 8% of the sale is not that much of a competitive advantage, even if any cam site were able to remove that cost from the business cycle. Which also is not going to happen.
Luckily, smart marketers understand sometimes gimmick marketing will get you noticed and that will bring in traffic and back links, which are of considerable value to a start-up. Case in point, Shine Coin and Shine Cams. This is their 15 minutes and above are their free links. Normally we would ignore stories like this but the fact is the concept of using cryptocurrency for adult webcams shows is one that we think has a bright future, just not in any way related to a designated currency focusing on just adult entertainment or webcams. Any money invested in Shine Coin I would consider a donation. This yet-to-launch cam site pitching their own cryptocurrency seems to be nothing more than a marketing gimmick to finance a new adult cam site. Our advice for those behind this effort would be selling any bitcoin they may have for cash, then take a more researched, traditional approach to launching an adult video chat site. There is lots of room to innovate in the live adult video chat business, but I’ll happily eat my words if this is actually one of them.
A.W.N. will publish any replies from Shine Coin / Shine Cams once a name and face are published as to who is behind the effort as far as logical explanations as to the press peice we got, the seemingly odd pitch to fund their cam site, and/or the fact that there is no publicly disclosed person, team, or organization behind this new project
However, our advice for those seeking to launch an adult video chat site would be to look at our comparison of white label adult webcam programs to start your own adult webcam site. You may also want to compare the top adult webcam affiliate programs because it’s easier to covert traffic on brands that are already established, and trusted, where surfers can read reviews online from other current and past users.