Every discussion among guys sooner or later descends to toilet paper.
Never heard of using a wet TP either. The object is to absorb the blood and stick to the wound. A wet tissue would not do either. I read that using a dab of vasoline will stem the flow of blood. It worked , but I used it on a cut but not on my face. I believe boxers use this during fights.I never wet the TP before applying it, never knew people did that!