[2018-06-26] Facebook is reversing its ban on some cryptocurrency ads

milewilda

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Quote from: snipie on June 29, 2018, 05:00:56 AM

Quote from: Theb on June 28, 2018, 02:59:53 PM

Also what are you saying that they don't care about cryptos being legit or not? They gave a stop in Crypto related ads as its their only way to stop potential scams in the first place.

I mean some tokens for example turn to be pure scam. Facebook do not really care whether token alpha is a scam or token beta is not. They are afraid of sanctions and followed Google and twitter decisions to avoid being criticised, that's all, then they wait for the first opportunity to allow it again gradually. They start by exchanges but some exchanges may scam users using the hack trick, then they will accept established services and so on.

We dont know on what would be their motives but the things you mentioned is always been part of the reality. We wont even know on whats the plan inside of their minds. They are surely preferring into other services or companies that do have past histories on engagement with crypto. Critics would be always be there and Facebook would definitely avoid it as much as possible.
Reversing its decision do really have a significant reason behind. We can speculate but we dont know the exact one.

bL4nkcode

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Quote from: cryptofonia on June 29, 2018, 03:45:09 AM

What's about Facebook coin? It all point that Mark is gonna do something.

Rumors will stay rumors, Mark didn't mentioned it yet but rather still learning more about decentralization - the blockchain.

Just wait for it if he really wants to make his own altcoin not a token.

snipie

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Quote from: Theb on June 28, 2018, 02:59:53 PM

Also what are you saying that they don't care about cryptos being legit or not? They gave a stop in Crypto related ads as its their only way to stop potential scams in the first place.

I mean some tokens for example turn to be pure scam. Facebook do not really care whether token alpha is a scam or token beta is not. They are afraid of sanctions and followed Google and twitter decisions to avoid being criticised, that's all, then they wait for the first opportunity to allow it again gradually. They start by exchanges but some exchanges may scam users using the hack trick, then they will accept established services and so on.

cryptofonia

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What's about Facebook coin? It all point that Mark is gonna do something.

bbc.reporter

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Quote from: snipie on June 28, 2018, 01:56:35 PM

Facebook do not care about cryptocurrencies or care if it is legit or not, all it cares about is to avoid sanctions and to grab more money. They might limit posts offering free advertisements to an exchange but why limiting a considerable payment coming from paid ads?

Agreed. Apart from my post before, Facebook is having less and less users every year, and that signifies less profit for the company. Maybe they realized their mistake of blocking one of the most profitable way for the company to earn from ads hehe.

I reckon their original decision to ban ads from the cryptospace was not a public service. They also have their own secret scamcoin in development.

Theb

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Quote from: snipie on June 28, 2018, 01:56:35 PM

Facebook do not care about cryptocurrencies or care if it is legit or not, all it cares about is to avoid sanctions and to grab more money. They might limit posts offering free advertisements to an exchange but why limiting a considerable payment coming from paid ads?

They banned cryptocurrency ads in the first place in order to avoid sanctions. Of course all they care about is money as they are also a business as soon as all things are cleared out they have lifted the prohibition as fast as they can. Also what are you saying that they don't care about cryptos being legit or not? They gave a stop in Crypto related ads as its their only way to stop potential scams in the first place.

audaciousbeing

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This is real good news and its something that they should have done earlier because its just an outright dogmatism for one to do generalization based on the actions of few that does not represent the majority. Facebook has been a platform that have attracted lots of people into the crypto fold and there is not doubt that the effect of the ban has been a contributing factor that has caused the downward trend that has been happening since the beginning of the year. Legit exchange sites or wallet service providers I believe won't have any difficulty meeting the conditions listed.

I hold other platforms can begin to review their draconian policies while those planning to launch some in the near future can begin to shelve such ideas.

snipie

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Facebook do not care about cryptocurrencies or care if it is legit or not, all it cares about is to avoid sanctions and to grab more money. They might limit posts offering free advertisements to an exchange but why limiting a considerable payment coming from paid ads?

Hamphser

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Quote from: bbc.reporter on June 27, 2018, 08:11:53 PM

Quote from: Hamphser on June 27, 2018, 07:48:43 AM

Quote from: darkangel11 on June 26, 2018, 04:45:37 PM

I think someone had to pull some serious strings to make them change their mind. Or maybe it was group effort?
What I don't like is the author of the article calling crypto market a bubble that has "declined". There's no bubble! A bubble suggests that this market is full of empty promises and will end up popping and disappearing, and we all know that it isn't so. I'd like to see that disrespectful prick's face in a year or two.

Nothing to be surprised, for those people who havent so much knowledge about crypto and just going with the flow would definitely say up these things and for us who are knowledgeable would just got pissed because we do know this thing isnt true.

Quote from: bbc.reporter on June 26, 2018, 07:36:31 PM

@darkangel11. Or maybe some Facebook executives have investments in the cryptospace and they are giving favors to those projects they have interests in hehehe.

Think up the same way too which there are might some facebook executives do heavily invested on crypto thats why they do revert such decisions on banning on crypto ads.This is the nearest thing that i presume on whats the reason on such decision.

I reckon it might also be because Facebook is developing their secret cryptocoin project. It would make them look bad if they block everyone and they the only one allowed to advertise their altcoin hehehe.

Theres already a rumor about that matter where Mark Zuckerberg do plans to make his own coin.Im not updated if it would continue or just a gossip.
If they would totally ban and they do let their own coin to be used then expect there would be lots of negative impressions and comments towards that scenario, no doubt!

Taki

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Quote from: Maymun_lavigne on June 27, 2018, 10:03:18 AM

Whats wrong about ICO project ?

I think it's obvious, there are a lot of scam ICO and Facebook is try h to protect themselves from different kind of complaining which are always follow after some of us were scammed. I do not think that Facebook is following any other target besides this one.

Compiler

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Its good notice, this position is now the right one, not the one that was launched a few months. But maybe it refers more to classic financial services. The problem is that many ICOs actually turn into scams, and this is too bad.

entrepmind23

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Quote from: vit05 on June 27, 2018, 12:52:56 PM

They should just ban scam projects. And it is not so hard to know when something is just a scam attempt. There is a ton of them. But at least exchanges should be able to use Facebook to promote their services.

They can at least reduce or even totally eliminate the promotion of crypto projects that are scam because they require the advertiser to show some proof first that they are legit company and investing on them would be beneficial to the investors. Facebook doesn't want to be called out again because of an issue.

This would be a good sign that other sites that ban the crypto advertisement before would eventually reverse their decision like twitter and google and then cryptocurrency would have more exposure again. Crypto prices take a hit before because of these bans so I believe that this reverse decision would help to augment the price and volume and make people become interested in cryptocurrency again.

bbc.reporter

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Quote from: Hamphser on June 27, 2018, 07:48:43 AM

Quote from: darkangel11 on June 26, 2018, 04:45:37 PM

I think someone had to pull some serious strings to make them change their mind. Or maybe it was group effort?
What I don't like is the author of the article calling crypto market a bubble that has "declined". There's no bubble! A bubble suggests that this market is full of empty promises and will end up popping and disappearing, and we all know that it isn't so. I'd like to see that disrespectful prick's face in a year or two.

Nothing to be surprised, for those people who havent so much knowledge about crypto and just going with the flow would definitely say up these things and for us who are knowledgeable would just got pissed because we do know this thing isnt true.

Quote from: bbc.reporter on June 26, 2018, 07:36:31 PM

@darkangel11. Or maybe some Facebook executives have investments in the cryptospace and they are giving favors to those projects they have interests in hehehe.

Think up the same way too which there are might some facebook executives do heavily invested on crypto thats why they do revert such decisions on banning on crypto ads.This is the nearest thing that i presume on whats the reason on such decision.

I reckon it might also be because Facebook is developing their secret cryptocoin project. It would make them look bad if they block everyone and they the only one allowed to advertise their altcoin hehehe.

TrumpD

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This is a huge win more for Facebook than the crypto investors of late last year/early this year. Facebook led the battle for social media ban, and this drove prices down. I am very positive that they have taken the advantage to amass some crytopcurrencies for themselves at a cheaper price. The article in itself said that they have gotten a blockchain team. Now they will gain double from increase in crytpo prices, and revenue from crytpo ads on their platform. What they will use to camouflage, this is the argument that they are only taking in legit crypto projects, and this protects investors. On the part of investors, this is a good lesson for the to learn for not HODL-ing and panick selling earlier this year. Because we are about to see some turn around for the positive with this news.

vit05

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They should just ban scam projects. And it is not so hard to know when something is just a scam attempt. There is a ton of them. But at least exchanges should be able to use Facebook to promote their services.

Slow death

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so he realized that he needs money. he treated crypto as if it were a world of criminals, he should have apologized for his stance

Quote from: Proton2233 on June 27, 2018, 04:41:50 AM

Zuckerberg felt like a God. But he forgot that Facebook has other shareholders who want to make a profit.

well, not all companies that are related to crypto are dishonest or commit criminal acts so he was associating all crypto world with crime

Quote from: Proton2233 on June 27, 2018, 04:41:50 AM

I heard that now the likelihood is that Zuckerberg will leave Facebook at all.

I very much doubt that he will drop the bone so easily.

Maymun_lavigne

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Facebook allows cryptocurrencies to once again be advertised, while keeping its ban on the promotion of ICOs and binary options.
this is a good news for cryptocurrency , but why Facebook ban ads ICO ?
Whats wrong about ICO project ?

https://cointelegraph.com/news/facebook-reverses-ban-on-cryptocurrency-ads-maintains-ban-on-icos/

https://twitter.com/Cointelegraph/status/1011690871476178944?s=19

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Quote from: darkangel11 on June 26, 2018, 04:45:37 PM

I think someone had to pull some serious strings to make them change their mind. Or maybe it was group effort?
What I don't like is the author of the article calling crypto market a bubble that has "declined". There's no bubble! A bubble suggests that this market is full of empty promises and will end up popping and disappearing, and we all know that it isn't so. I'd like to see that disrespectful prick's face in a year or two.

Nothing to be surprised, for those people who havent so much knowledge about crypto and just going with the flow would definitely say up these things and for us who are knowledgeable would just got pissed because we do know this thing isnt true.

Quote from: bbc.reporter on June 26, 2018, 07:36:31 PM

@darkangel11. Or maybe some Facebook executives have investments in the cryptospace and they are giving favors to those projects they have interests in hehehe.

Think up the same way too which there are might some facebook executives do heavily invested on crypto thats why they do revert such decisions on banning on crypto ads.This is the nearest thing that i presume on whats the reason on such decision.

Harlot

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As expected, previously I have said that they are shutting down one kind of revenue stream by banning all cryptocurrency related ads. They now know that cryptocurrencies are another potential market for their users and by doing so they can generate more money just by placing their ads. I do think that this will improve still as cryptocurrencies are having another look and if things get ckear legally we may soon see a lot of new crypto related ads in Facebook.

buwaytress

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Quote from: Kemarit on June 27, 2018, 06:42:28 AM

Or maybe Facebook knows that they can't really stop this 100% that's why they somewhat allow some crypto ads though you have to apply for it. So its a win-win situation for both sides, Facebook gaining revenues, while legit ICO has one of the best platform to expose their project and hope that they can make it big time, they have suffered the most since social media bans crypto ads and legit projects scramble to find ways to promote their project and sadly some of them didn't took off because of less exposure.

Exactly. Bans just cut out revenue, and scammy projects found their way around the bans with the same scammy guerrilla marketing tactics (spell crypto with a zero, for example). End of the day, Facebook wants to maximise revenue.

I wouldn't place any extra confidence in anything advertised on FB, though. All it proves to me is that the project is willing to spend money on social media advertising. Doesn't lend an ounce of legitimacy to me.

Topic: [2018-06-26] Facebook is reversing its ban on some cryptocurrency ads (Read 276 times)