Facebook has said it will now ban all cryptocurrency adverts ! 🤔
According to the BBC, Facebook has said it will now ban all cryptocurrency adverts as a way of protecting it's users from people out to scam them through any means involving crypto.
It goes on to talk about binary options, and ICOs.
It seems to be the way things are going now, they just blanket ban the entire eco system instead of trying to ban the actual scams. As we know there are a lot of bad ICOs but there are also some good ones out there.
I wonder how much of this is Bitconnect backlash, although saying that I don't remember seeing adverts for Bitconnect.
What are your thoughts? Is this a good or bad move?
Full article : http://www.bbc.co.uk/news/technology-42881892
As usual thanks for listening
Happy Steeming Steemers and Steemettes.
Its really bad news the market goes down and i think fb scare of the steemit it can be replace with this
Yes, Steemit must be on their radar now and a platform that rewards it's users has got to scare them.
Probably a good PR move on their part considering all the fire they've been under recently regarding their ads and newsfeed algorithms. The interesting part is that Zuckerberg recently posted about the potential benefits of cryptocurrency
http://observer.com/2018/01/facebook-bans-bitcoin-ads-weeks-after-mark-zuckerberg-praised-crypto/
I think the thing with Facebook is, if they did do anything with crypto they would simply make their own. So banning ads is less competition.
Yeah I could see them making something in house. Or maybe they'll just integrate steem haha
@originalworks
What's facebook?
Irrelevant
While I agree with you both, I have seen a good few adverts for Steemit on there and with 2.07 billion users a month, that would of been a lot of potential new Steemit users that can now not be reached and taken to the light side.
I'd not be surprised if steemit ads fall under the new banned category of 'crypto ads'
Or "SBD Futures"
I heard somewhere that fb was also considering blockchain and crypto into their thing so maybe it's a move designed to eliminate competition?
I just wrote the exact same to a comment above before reading this :)
I think that could be a big part of it.
Thanks for the comment.
I think this facebook move is part of what Mr. Mark Z. previously posted in his FB account, that he will study about cryptocurrency. Maybe this is just one way how he studied it and implemented what he think is necessary to avoid being used by those scambags in cryptocurrency.
Or he has seen the Steemit ads and is scared haha. Hopefully thats the reason :)
Thanks for the comment.
That probably one of the reasons too! ;) Thanks too for the upvote. ;)
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