Russia: A pornsite in Russia known as Iknowthatgirl.com is now accepting Bitcoin for payment. The site is owned by Marvin company which is popular around the globe for being the largest producer of adult contents.

Marvin also owns Brazzers.com, Realitykings.com, Mofos.com and Pornhub com which is being visited by up to 20mln online users daily.

With this, many members of the site are now using Bitcoins and the company is looking into the possibility of accepting Bitcoins with the other web sites they own.

The announcement from Marvin company coincided with the Valentine's day which had been an effective advertisement for the sites.

With many pornsites eventually accepting Bitcoin, the virtual currency is predicted to bounce back immediately after its drop due to the widely reported hackers attack.

It was to be remembered that when another popular pornsite Porn.com announced that its accepting Bitcoin, the virtual currency sales grew by a quarter in just a matter of months with shares of Bitcoin increasing up to ten per cent.

Meanwhile, with the questions of legality surrounding the virtual currency, Chair of Bitcoin Foundation, Brian Klein, said that the US dollar is used for more unlawful transactions than Bitcoin or any other currency.

"I think probably the U.S. dollar is used for more criminal activity than any type of currency in the world.", Mr Klein told The Voice of Russia.

Mr Klein said that that on the average market price for Bitcoin in terms of U.S. dollars is around six to seven dollars.

"I think that puts the total value of all the Bitcoins in circulation somewhere between 7-10 billion dollars. So, it is still a very small currency compared to other currencies. I mean the total number of U.S. dollars in circulations got to be billions upon billions or even a trillion. I don't know. So, Bitcoin has gotten a lot of attention because of the rapid escalation in the value of it versus currencies like the dollar and Euro and ruble in the last year and a half. But overall, it is still a very small player in the currency world. It just happens to be new and innovative and viewed by a lot of people as transformative but it still globally speaking, and economically speaking a very small part of the world's currency basket."