Facebook Bans Bitcoin, ICO Ads
Content adapted from this Zerohedge.com article : Source
First it was a crackdown on "fake news", then on Russian ads, now it's cryptos.
In a statement posted on its website on Tuesday afternoon, Facebook announced that it has created a new policy "that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency."
Facebook lists the follow four examples of ads that will no longer be allowed:
And here is the justification:
We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.
This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network and Instagram. We will revisit this policy and how we enforce it as our signals improve.
We also understand that we may not catch every ad that should be removed under this new policy, and encourage our community to report content that violates our Advertising Policies. People can report any ad on Facebook by clicking on the upper right-hand corner of the ad.
This policy is part of an ongoing effort to improve the integrity and security of our ads, and to make it harder for scammers to profit from a presence on Facebook.
It is worth noting that the last time Facebook actively engaged in content moderation, when it implemented a "fake news" flag only to see demand for "fake news" stories surge, it will be interesting to note if Zuckerberg's latest attempt to sway public opinion backfires, and leads to even more demand for cryptocurrencies.
As for stunting the popularity of cryptos, if bitcoin, ethereum et al, are indeed dependent on facebook readers to keep the price rising, then it is probably time for a cleansing crash.
It might as well just be the case that facebook bans all crypto related content in preparation of launching some own product. That way they can catch huge attention as no user got annoyed by similar ads first.
Facebook is rapidly turning into a crotchety old man yelling at the kids to get off of his damned lawn. The opposite of cool, they will eventually become a has-been. was at around $17 per BTC. People thought I was mad and that I would lose all my money. People now think I went bankrupt because the television is saying it is a scam, went to zero and/or was banned by gubmint. I remember people here mocking Fonestar with his “tulips” that wouldn’t survive an EMP and gubmint turning off the internet and the electrical grid.have arisen many questions on the security of cryptocurrency and I think that would be the reason behind this act of Facebook.
Also, facebook is in access of everybody and who knows which posts are real and which are fake. Most people within the same country are treating facebook as a medium to buy and sell the cryptos and I've witnessed and read a lot of posts about fraudulent activities. Thank you for sharing with us...
It is such a joy to watch Facebook eat itself.
Am I the only one who sees this company as a complete joke?
It is very clear how they engage in censorship and manipulation. It is amazing that they have any credibility at all.
Zuckerberg sets himself up to be sumcomb. For a man who declares that he wants to help humanity and move the world into the future, we know that this is a false lie. Every step he takes is aimed at silence, enslavement and domination. This is his only goal.
I think I should not be surprised at this move. Many say that Facebook is essentially the government's arm in terms of citizen control. We know that the government is threatened by citations so this step goes along with that.
I just hope the fans wake up .... Time to sleep is over.
Not only are they dismantling alternative media publishers and creating propaganda to direct against users that look at "radical" content, now they are being transparently fascist. Interestingly, Zuckerberg had indicated an interest in a FB crypto, so maybe he just wants to clear out the competition. I'm done with that site. He's gone full fascist.
Company? I wouldn't call the CIA a company.
@zer0hedge...It's strange to read they want to ban deceptive business practices, whereas they still trade their stock. Either there's something fishy or the son of my mother is slow to understand shit. up on Facebook being the lemming that I am and following the herd and after a few days this fucking creep I knew in High School got in touch with me and wanted to go out and have a drink to discuss old times and maybe we could bring the wives along?Jesus H. Christ!I dropped that fucking Facebook and never looked back.Proctor & Gamble was not certain it was getting a good return on its $100 million digital ad spend, so one day they stopped.They found no change in their sales. Of course, no one listened. It is still buy, buy, buy! in the digital ad world.I do worry that the P&G article was fack news.survive an EMP and gubmint turning off the internet and the electrical grid.have arisen many questions on the security of cryptocurrency and I think that would be the reason behind this act of Facebook.
Also, facebook is in access of everybody and who knows which posts are real and which are fake. Most people within the same country are treating facebook as a medium to buy and sell the cryptos and I've witnessed and read a lot of posts ...
Am I the only one who sees this company as a total joke?
It is so obvious how they engage in censorship and manipulation. It is amazing they have any credibility at all.
Zuckerberg is proving himself to be a total scumbag. For a guy who professes to want to help humanity and move the world into the future, we know this is a boldface lie. Every step he takes is meant to silence, enslave, and control. This is his only objective.
I guess I shouldnt be surprised at this move. Many are mentioning that Facebook is basically an arm of the government in terms of the monitoring of the citizens. We know the government is threatened by cryptos so this move is in line with that.
I only hope the masses wake up....time for sleep is over.
Are you the one who copied this post, or was it @thejoker5
It wasnt me...look at my blog.
The masses won't wake up as long as facebook isn't publicly exposed or replaced by an uncensorable platform just like e.g. steemit.
I personally wouldn't be surprised to see them launching their own crypto soon...
So you can post radical videos which when get taken down you protest and get them reinstated - you can buy weight loss pills at the click of a button and you can get bully someone from thousands of miles away yet you cannot post about cryptocurrancies, something that will have an impact on virtually every member of Facebook if not right away at least in the future.
It makes no sense that someone who has the power to reach so many people and help educate them chooses instead to ignore the opportunity in front of him.
I understand that there are many scams out there but if he did his homework ( or got his minions to do it ) they he has a platform to educate with the right information and products.
Proctor & Gamble was not certain it was getting a good return on its $100 million digital ad spend, so one day they stopped.
They found no change in their sales. Of course, no one listened. It is still buy, buy, buy! in the digital ad world.
I do worry that the P&G article was fake news (from P&G) as I cannot imagine any company, let alone a huge conglomerate, spending $100 million per year without a mechanism to learn the ROI quickly.
veleje (46) · yesterday
I though the same thing, when I first read your title, FB wants in and it needs to limit the competition.
Also Amazon is preparing to get in. They would like to implement it into their marketplace, selling around the world and use one single currency.
Big changes are on the way. How much say in all this we are going to have
Facebook will not be able to stop hacking
I understand what Facebook wants
Most important now most traders and traders go to me steemit community and this will be very special sir
I'm excited to order this will be Steemit is the best of Facebook and just need time. @zer0hedge
Facebook has updated its advertising policy, announcing in a blog post on Tuesday (January 30th) that it prohibits ads that use "misleading or deceptive promotional practices", which, according to the social media platform, include digital advertising and digital currency launch (ICO) ).
The ad claims that there are "many companies" that use the Facebook platform to advertise financial products, such as binary options, currency and digital currency offerings, but "do not work in good faith."
Because of this, the publication continues, Facebook will make "cheating for profit more difficult" by preventing them from being on the social networking platform and banning all similar ads. The ad also encourages users to help protect the community by reporting content that violates the new rule.
"Two of our core advertising principles highlight our belief that advertising must be secure and that we build it for the benefit of people first," says Visbuk.
This is actually a good thing for FB to go after. These advertisements come from low-income, low-education, and often foreign assholes. This has nothing to do with real cryptos.
but rather are terrible and annoying scams. As a regular author about MLM and its BS (www.themlmsyndrome.blogspot.com), these fake crpyto douchebags have been all over the MLM "business opportunity model".
These things are a gigantic nuisance, and if you need any reference to how awful they are, then check out "One Coin" and what is happening to them (they overtook Amway)