Facebook ban ads for cryptocurrencies and ICO'S, what will be the effect?

angjosh

newbie

Activity: 126

Merit: 0

Quote from: play on January 31, 2018, 10:44:25 AM

This seems to be bad news for the companies that specialise in promoting ICOs and those launching in the near future.

There is still steemit, reddit, twitter, bitcointalk and others might pop up to take advantage of the current gap created by facebook Grin

andrei214

full member

Activity: 224

Merit: 100

Quote from: paparexon0414 on January 31, 2018, 09:22:39 AM

I read this interesting articles and thinking what will the effect of this in the bounties that needed some social media campaign. This is part of the article "Facebook announced a ban on advertisements for "binary options, initial coin offerings and cryptocurrency." The blanket decision is part of the social media giant's efforts to prohibit ads for financial products and services "that are frequently associated with misleading or deceptive promotional practices."
If you want to read the whole story, just check this out. And tell your insights

https://www.cnbc.com/2018/01/30/facebook-ban-on-bitcoin-ads-latest-in-very-bad-day-for-cryptocurrencies.html

It will be really bad.Because using media sites for advertising bitcoins is one of the most effective way to designate informations about it.But once it was cut, the informations about it will be limited and the chance of getting more investors will be impossible.

adiksau0414

full member

Activity: 462

Merit: 100

SOL.BIOKRIPT.COM

This event might be a hindrance for those doing social media campaign especially in bitcoin. The possibility that this bounties will remove that and for those who only use bitcoin as their means to advertise cryptocurrencies will lessen their work. I dont know whats the big issue why facebook will this ads, maybe they were afraid that their name might be used in doing some sort of scam and they want to stop this as early as they can. The better thing if this will happen, bounty hunter should use other option than facebook.

Puroc

newbie

Activity: 139

Merit: 0

Facebook helps a lot of people to spread information around the global, stories of someone who become heroes because of the righteous things they have done, and very good opportunity that you want also to share, but sad to say it is also used to spread lies and fake news, some scams are also place there.
If the owner blocks advertisement of ICOs and Cryptos then there is a percentage of blockage on distribution of information about bitcoin and related matter to individuals that maybe possible for prospect, like investors and buyers. Hoping for it not to happen…
In the other hand, I was thinking it was just an article on Facebook or on the internet? Maybe it’s a fake? I was waiting for any channel on TV that they will say on public….

DySWv

member

Activity: 164

Merit: 10

Quote from: paparexon0414 on January 31, 2018, 09:22:39 AM

I read this interesting articles and thinking what will the effect of this in the bounties that needed some social media campaign. This is part of the article "Facebook announced a ban on advertisements for "binary options, initial coin offerings and cryptocurrency." The blanket decision is part of the social media giant's efforts to prohibit ads for financial products and services "that are frequently associated with misleading or deceptive promotional practices."
If you want to read the whole story, just check this out. And tell your insights

https://www.cnbc.com/2018/01/30/facebook-ban-on-bitcoin-ads-latest-in-very-bad-day-for-cryptocurrencies.html

I think the effect would be Initial Coin Offerings and cryptocurrencies’ popularity will decrease. Social media especially Facebook has a great influence on the popularity of ICOs and cryptocurrencies because most of the people have a Facebook account. The number of people that would be informed about their existence at the first time will be lessen.

codpku

member

Activity: 336

Merit: 10

Very much effect, because all the rules in facebook bounty campaign need to share all the ICO facebook activity, so it will more hard for bounty hunter after the merit system, now facebook banned all spammer
As a bounty hunter we have to read the bounty campaign rules so our facebook account still save not get banned from facebook

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

oh dear this is very bad news indeed since most of the fake-book spammers come from this site and now they
will be talking even more FUD here just to earn money from the adverts in their footers.

Yes we all know what I am talking about don't we boys

yoseph

sr. member

Activity: 868

Merit: 266

Quote from: Newboybb on January 31, 2018, 09:27:58 AM

First of all, it is a good decision for facebook to ban the advertising of the ICO, since many ICO projects are a fraud project, so if they are allowed to advertise, they may face legal problems.
But that is bad news for the entire cryptocurrency market, where new information is not available through facebook and a lack of access to the market.

I believe that Facebook fears legal backlash from people should most of they ICO's that they advertise be scam projects in the first place and with the help from facebook they might be actually defrauding a lot of people.

CryptoBeefy

full member

Activity: 378

Merit: 100

I dont think it will have much impact. Facebook ads are quite good at being on trend for you though so I feel for the genuine ads that cant promote anymore due to the scammers!

Daboy_Lyle

full member

Activity: 532

Merit: 148

Quote from: paparexon0414 on January 31, 2018, 09:22:39 AM

I read this interesting articles and thinking what will the effect of this in the bounties that needed some social media campaign. This is part of the article "Facebook announced a ban on advertisements for "binary options, initial coin offerings and cryptocurrency." The blanket decision is part of the social media giant's efforts to prohibit ads for financial products and services "that are frequently associated with misleading or deceptive promotional practices."
If you want to read the whole story, just check this out. And tell your insights

https://www.c[Suspicious link removed]m/2018/01/30/facebook-ban-on-bitcoin-ads-latest-in-very-bad-day-for-cryptocurrencies.html

it means that all facebook bounty campaign will be disallowed. It has been ban because the facebook has only uses for referrals and campaigns.

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: imutzz on January 31, 2018, 09:34:26 AM

What a shame, i think mark want to make his own cryptocurrency and monopoly the ads for him self, its just my opinion though. But this ads ban will make new cryptocurrency harder to improve, still much another platform to put an ad but still facebook is a big platfrom.

As many of these ads had been scams this is good decision. But Zuckerberg still is a big pos.
He can try whatever he wants, his version of a crypto currency will be highly centralized, controlled by Facebook, what means it will be pure crap and nothing people wanna do invest in.
Zuckerberg is a centralized, he can not be successful with crypto what is in so many things the exact opposite of what he is doing.

1C6fV5DtakfKANLJ8GUV7hCaA

full member

Activity: 462

Merit: 104

Crypto Marketer For Whales

I don't like the fact that Facebook is doing this. Well, less exposure for great projects. This is just way too much of them. There's one good side though, less risk for newbies.

DooMAD

legendary

Activity: 3948

Merit: 3191

Leave no FUD unchallenged

Meh, complete non-issue. First and foremost, if people have to rely on advertisements on social media for investment advice, there's something seriously wrong with the world anyway. Secondly, if the people running these ads could be trusted to just use social media responsibly, to simply explain how crypto works, detailing both the pros and cons, while not painting the picture that it's all some magical get-rich-quick scheme, that would be fine. But it turns out people generally can't be trusted to do that, so this is where we find ourselves. Facebook aren't doing anything unreasonable here. People got greedy and abused it, so it gets taken away. Cause and effect / action and reaction / etc.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

This ban comes with mixed feelings, I must say. I believe it will in a no small measure hurt the crypto system. I know a lot of arguments will be put forward on how the ban will stop the so many scams masquerading as ICOs. But what about the negative effect on the growth of cryptocurrency, not just Bitcoin. We should also remember that most of the ICOs do receive payment for their coins and tokens in other currencies that are not Bitcoin. These currencies will be affected and their market caps will expectedly drop.

siddu67

full member

Activity: 392

Merit: 106

The effect of banning cryptocurrencies ads from facebook won't be good because most of the people over the world uses facebook and they all have knows about cryptocurrencies through facebook.At present there would be no problem for old users but countless new users people has to suffer because of this attempt.

tweetbit

full member

Activity: 560

Merit: 112

I’ve read some article before or recently about mark giving positive comments on cryptocurrency. So I think this move is just isolated for those ICO having bad reputation or being so obviously scammed. This won’t affect or even give much impact for he even don’t give banning policy on all of those projects. If ever mark will or have advantage not for total banned for profit that generate through this crypto ads.

ngavanngo22

member

Activity: 238

Merit: 10

OPEN GAMING PLATFORM

Really good to hear that

). I feel very awkward when a lot of ads about new ICO projects appear on my newfeed and a lot of people talk about HYIP system everyday cause I really hate this kind of making money. But for now when I want to share link from this forum or any link related to Bitcoin to my friend I need to fix the link a little bit and I feel it's a little inconvenience

stayeduptolate

hero member

Activity: 980

Merit: 502

Quote from: Gregoryxl on January 31, 2018, 12:54:04 PM

Facebook is one of the most used platforms worldwide and due to this it has become a big hole of possible scams. I agree to prohibit the general publicity of ICOs, it is a way to protect clients, investors and themselves. I consider that only platforms with enough knowledge to give information with accuracy should allow publicity.

This takes away the freedom of the companies to share their product to the consumers.
I know that due to this the ongoing ICO scams can be stopped, but also there are honest ICO also out there in the market which would definitely be affected due to the ban of ads on Facebook and its children companies also, I believe. So this is a very childish approach to the problem, I believe that they must have taken some more time and would have made a much better decision and would have played nice in that situation.

Alanpigi80

full member

Activity: 322

Merit: 101

I'm sorry because it was a great way to get to know new ico and sponsor them. I want to hit the world of cryptocurrencies at any cost.

Gregoryxl

newbie

Activity: 28

Merit: 1

Facebook is one of the most used platforms worldwide and due to this it has become a big hole of possible scams. I agree to prohibit the general publicity of ICOs, it is a way to protect clients, investors and themselves. I consider that only platforms with enough knowledge to give information with accuracy should allow publicity.

Topic: Facebook ban ads for cryptocurrencies and ICO'S, what will be the effect? (Read 400 times)