The “stripper index” (an anecdotal measure that links economic health with spending on adult entertainment) does not seem to predict the price of Bitcoin (BTC).
Cody Rose, a self-proclaimed “dollar stripper” and adult content creator, hints at these frontline insights in a recent viral ticock video.
Digital, the equivalent of exotic dancers, is an adult content creator, with only fans dominating the space. On the platform, users subscribe to creators and hint at extras.
I found that stripper indexes don’t actually work with Bitcoin. A 57-month revenue analysis of the sole creator of one middle tier shows a negative correlation with Bitcoin price despite the two moving in the same direction.
To understand whether Cryptoregraph retains the predicted value of Bitcoin, Cryentelgraf spoke to veterans in the adult entertainment industry who have overcome both the ups and downs alongside Crypto’s hype cycle.
Bitcoin followed the only model revenue of 55% of 55% of the time
The stripper index is supported by the assumption that consumers will reduce non-essential spending during the economic downturn.
“Sex work is considered a ‘non-essential’ service. It’s entertainment and luxury. So it’s one of the first costs people have reduced when they predicted financial situations and economic instability.”
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Alana Nguyen, who plays only with the stage name “Nerdy Dancing,” has shared monthly revenue with Cointelegraph since moving online after the 2020 pandemic shutdown involving strip clubs. So far, she has not noticed a clear correlation between crypto prices and subscriber behavior.
“Even with a global economic situation that affects overall spending, I don’t think crypto prices are strongly correlated with my revenue,” Nguyen told Cointelegraph.
A Pearson correlation coefficient of -0.335 over 57 months suggests a moderately negative linear relationship between Nguyen’s revenue and Bitcoin price.
The 10-month Rolling Pearson correlation between Nguyen’s revenue and Bitcoin price showed considerable volatility over time. The highest correlations were observed over the 10 months ending in July 2021. This was the first few months of Nguyen’s business.
Of the total of 48 calculations, the rolling correlation coefficient was split evenly, with 24 positive and 24 negative values, and the relationship between Nguyen’s revenue and Bitcoin price fluctuated without a consistent pattern. The rolling correlation is rarely above 0.5, indicating a low correlation.
In another measure, Cointelegraph analyzed whether Nguyen’s revenues rose when Bitcoin’s monthly average rose compared to the previous month, and when Bitcoin’s revenues fell when Bitcoin fell. In this measurement, the two moved in the same direction almost half the time, with 55% accuracy scrutiny over 57 months.
“I always thought that concepts like the stripper index were useful only in terms of total spending. Even with strip clubs, my revenue doesn’t necessarily have to do with how the club is doing overall. That’s about my personal selling ability that day.
The only fan is well known for its opaque financial reports. One website, OnlyGuider, claims it has analyzed transaction behavior for over 1 million subscribers, finding that the top 0.1% of creators earn a large portion of the platform’s revenue.
According to Guider’s only Guider data shared with CointeLegraph, the top 0.1% of creators won $2,035,331 in April 2025. As Bitcoin prices continued to rise in May and June, revenues in the top 0.1% also rose, reaching $2,038,972 in May and $2,052,502 in June.
The only relationship with Bitcoin to adult entertainment
Crypto was once considered an alternative tool to encourage payments to adult content creators. Pornhub, one of the largest platforms in the industry, began accepting cryptocurrency as early as 2018. However, only fans have taken a different pass and do not offer crypto as a payment method.
“In our brothels, crypto payments are not very popular. Most clients prefer cash because they don’t leave traces. The women who work with us accept crypto payments, and yet the total number of transactions per year is very low,” De Noire said.
“We are not aware of any major changes in spending behavior in response to crypto-changing fluctuations. It appears that whether Bitcoin or Ethereum is working well hasn’t directly impacted how willing our clients spend,” she added.
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Erotic movie star Allie Eve Knox has a stronger connection to the crypto community as a champion of consolidating cryptocurrency into the adult industry and through her involvement with SpankChain, which launched initiatives such as SpankPay, a crypto payment option for adult creators that has since been decommissioned.
Knox has provided content on several platforms, including only fans, and agreed that Bitcoin prices do not appear to have a meaningful impact on her revenue.
“Anytime, Crypto is the best ever hit, and our traffic actually slows down,” Knox told Cointelegraph.
“People want to see the biggest numbers on their accounts: screenshots.
Knox has been in the adult entertainment industry for 11 years and says he has 36 account closures in his career, from bank accounts to Cash App to PayPal. Crypto offered an alternative way to accept payments, but ironically she claims she fell into banks on the crypto platform as well.
“We showed Showtime’s documentary crew how to display a Coinbase QR code on camera. Viewers could pay with Bitcoin or ether. The day after it aired, Coinbase closed its account.”
Modern payment options – Whether it’s encryption or digital banking, both consumers and businesses make transactions easier. However, when used by sex workers, electronic methods are causing scrutiny from the bank. In brothels, clients often prefer cash, and sometimes even leave mid-session to withdraw money from the ATM, De Noire said.
“But as the only fan creator, I find myself a bit similar. My subscribers generally use credit cards to trust the platform, but many of them still ask if they can pay with Bitcoin or other alternatives,” she said.
“We are not pursuing this further as payments are not permitted outside the platform, but it is clear that even online clients are seeking privacy and control over the data they share with financial institutions.”
Bitcoin honeymoon with only fan model passed
According to Knox, Web3 and adult content had “good old days.” Knox says the 2021 enigmatic token (NFT) boom opened up new revenue streams, creating more options to reach fans and spend crypto revenue.
“Now, if the customer doesn’t have the code yet, they’ll have to move the money out of the bank, wait for it to clear into their wallet, maybe convert it, send it to the model and wait for confirmation.
Creators are also facing an increasing number of barriers around the world. Recently, China has launched a nationwide crackdown with its only fans, but Sweden, a country that is very politically and culturally different from China, has placed restrictions on the purchase of adult content.
De Noire cited sociologist Zygmunt Bauman, noting that in today’s society, consumers are not only trying to survive, but also prioritizing fun.
“When you look at a lot of non-essential services, including massage, fancy coffee, wellness retreats and even sex work regularly, that’s a sign that society has enough money,” De Noire said.
Cryptocurrency was once hailed as a promising payment solution for adult content creators facing financial censorship, but the reality is more complicated. Despite overlapping pockets, including simultaneous rise in Bitcoin prices and revenues among the only creators at the top, adult entertainers and their revenues are hardly correlated with Bitcoin price trends.
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