They are Banning crypto every where - now facebook

Stedsm

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Quote from: revo999 on January 30, 2018, 04:52:30 PM

Facebook has a new advertising policy pertaining to cryptocurrency, binary options and initial coin offerings. The policy specifically prohibits ads that promote those types of products and services “that are frequently associated with misleading or deceptive practices,” Facebook Product Management Director Rob Leathern wrote in a blog post today.

Check and try to understand what the guy tried to say:

Quote

Cryptocurrencies like Bitcoin, Litecoin and Ethereum, and initial coin offerings have all hit the mainstream, which has promptly resulted in a number of scams. While Facebook says it wants people “to continue to discover and learn” about those products and services, “there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith,” Leathern wrote.

https://techcrunch.com/2018/01/30/facebook-is-banning-cryptocurrency-and-ico-ads/

He's not against crypto, but the companies that they think, might be conducting some illegal practices or may not be in the interests of their users.
If you would have been at his place, you may have taken the same decision to save your users from having losses whether it be related to finance or data.
Many people over Facebook and any other social media are totally unknown of the cryptocurrencies and their nature and under the effect of greed, these people invest and lose sometimes and start blaming these mediums only. Such people are lazy enough to even bother to learn more about these things and plunge into crypto after which they are left with just one thing - and that's regret over their decisions. I urge these people to please do a thorough research before getting into this - you should really know what you are getting into.

jakezyrus

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Quote from: Hexah on January 30, 2018, 06:41:19 PM

Well I think if that would be the case then those bounty hunters will really be out of place of sharing those kind of advertising on the Facebook platform. Hope that they will just consider the one from a scam coin rather than just banning all of the advertisement posted by the project or by some individuals. I think it needs to be discussed thoroughly before they implement it just a sudden.

For sure they only ban those unkown ico that seems shady but not all ads that related to crytpo because i still see some crypto related ads on facebook. i also dont think that it could affect those bounty hunters as facebook only bans ads and not the post itself therfor bounty hunters can still post links and share post from a crypto or an ico page. besides there are still twitter and youtube or any other social media that fully accepts crypto to their platform .

edsnow2017

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Quote from: shulio on January 30, 2018, 04:56:12 PM

First they ignore you, then they laugh at you, then they fight you, then you win. I think we are at the fight phase.

You got a good point, this past months facebook is just ignoring the promotion of ICO's and other business that associated with cryptocurrencies but after the huge promotion about ICO they are now banning it. But not banning groups in facebook
associated with scamming people.
i think this is unfair not all ICO's are scam.

CryptoBeefy

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Quote from: DAVETUN on January 30, 2018, 06:20:42 PM

Facebook cannot ban crypto, when they do, that migth be the begining of there fall, there will be a major reduction of people using the site, Sure everyone want to figth BTC/ cryptocurrency, as alot of organization in the real world do not have access to the control of the crypto space

They're not banning crypto but they are banning crypto ads ... Which you cant blame them. So many ICOs pop up on my news feed and the majority of them are absolutely rubbish.

Jashhh

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South Korea Won't Ban Crypto Trading, Says Minister

https://www.coindesk.com/south-korea-doesnt-intend-to-ban-crypto-trading-says-finance-minister/

Krispin47

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Quote from: revo999 on January 30, 2018, 04:52:30 PM

Facebook has a new advertising policy pertaining to cryptocurrency, binary options and initial coin offerings. The policy specifically prohibits ads that promote those types of products and services “that are frequently associated with misleading or deceptive practices,” Facebook Product Management Director Rob Leathern wrote in a blog post today.

Cryptocurrencies like Bitcoin, Litecoin and Ethereum, and initial coin offerings have all hit the mainstream, which has promptly resulted in a number of scams. While Facebook says it wants people “to continue to discover and learn” about those products and services, “there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith,” Leathern wrote.

https://techcrunch.com/2018/01/30/facebook-is-banning-cryptocurrency-and-ico-ads/

I think shis is a very bad news to us. Looks like Zuckerberg is not into crypto, making it easier for Facebook to decide on this. They should probably waste their energy banning/controlling pornographic and "fake news" than about crypto, which affects the general public.

Dudeperfect

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I am really happy with Facebook's decision but I think Facebook took this decision in hurry. Being a social media executive, I spend my most of the time on social media sites and since they have my all the data (interest/behavior etc) these sites keep showing me ads to invest in ICOs. Now, I have basic idea of doing research and I find that in most of the cases, scammers use popular sites in aggressive mode to target more and more people which results in a huge damage. I am sure, FB would be working on some model for legit crypto companies to use their business platform.

campica

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For me it's good because almost every ad on facebook that I see are about some ICO. I think that ads about bitcoin isn't for facebook. If they ban advertising ICO on facebook you still have Google advertising which is much better for me. There are thousands and thousands website that use google ads for getting profit so more people will see it anyway.

no0dlepunk

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Of course. Didn't you know that we are the money of a new revolution? geez, i was surprised you were surprised. Grin

superjeyy

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Quote from: hyet24 on January 30, 2018, 04:59:41 PM

I mean they have the right because those ads is misleading and leading to scam. I rather have people learn crypto from other real people not just some ad spam on facebook.

Yup, what hyet24 said is true. Not only the credibility of Facebook is on the line here, but as well as the reputation of cryptocurrency. Although I believe that Facebook has the ability to filter out the ads they wish to show in their site, the idea of cryptocurrency and ICO being incorporated with spamming can be misleading and not trustworthy. At the end of the day, the responsibility of researching and educating oneself towards what is legitimate and what is not falls under our radar. What Facebook is doing is for safety measures to assure the protection of their users, but this will also be dependent on how you handle things.

revo999

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2D animator

Where ever there is freedom - scammers destroy the purpose

Crypto is the future of freedom like like Internet freedom is still not digestible to majority

Regulating the bitcoin is good but also it also destroy the concept of freedom and Scammers and Tax evaders and Dark web using it Angry

First77

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Quote from: hyet24 on January 30, 2018, 04:59:41 PM

I mean they have the right because those ads is misleading and leading to scam. I rather have people learn crypto from other real people not just some ad spam on facebook.

Why use Facebook ??

Donald Trump is always on Twitter Grin

matthewogus01

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When China banned Bitcoin exchanges in September 2017, Bitcoin's price plunged from nearly $5,000 to $3,700 in two weeks. South Korea, Israel and Russia are currently exploring ways to crack down on crypto exchanges.
In 2018, the U.S. regulatory environment could also get tougher on the industry. The tax reform bill that recently passed Congress proposes to close a Bitcoin loophole, making "like kind exchanges" applicable only to real estate property. The IRS could require all crypto trades to be taxable under section 1031, requiring much work in accounting for gains and losses of each trade. With these kind of news including that of facebook, the price of Bitcoin is subject to be heavily influenced negatively. Given this, the price is bound to go down and some will sell to cut losses. A good strategy is to hold your Bitcoins until the price slowly increases again.

SungkZ

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ONe Social Network.

I think not all ICOs are affected on this, the article only say they will prohibit ads that promote some types of products and services “that are frequently associated with misleading or deceptive practices”. Legit projects are not affected on this, only those SCAMpaigns.

Hexah

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Well I think if that would be the case then those bounty hunters will really be out of place of sharing those kind of advertising on the Facebook platform. Hope that they will just consider the one from a scam coin rather than just banning all of the advertisement posted by the project or by some individuals. I think it needs to be discussed thoroughly before they implement it just a sudden.

macartem

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Merit: 319

Quote from: revo999 on January 30, 2018, 04:52:30 PM

Facebook has a new advertising policy pertaining to cryptocurrency, binary options and initial coin offerings. The policy specifically prohibits ads that promote those types of products and services “that are frequently associated with misleading or deceptive practices,” Facebook Product Management Director Rob Leathern wrote in a blog post today.

Cryptocurrencies like Bitcoin, Litecoin and Ethereum, and initial coin offerings have all hit the mainstream, which has promptly resulted in a number of scams. While Facebook says it wants people “to continue to discover and learn” about those products and services, “there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith,” Leathern wrote.

https://techcrunch.com/2018/01/30/facebook-is-banning-cryptocurrency-and-ico-ads/

Yes, this is a big problem for us(

It remains only unaffected by Twitter

Serco

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Quote from: onpages on January 30, 2018, 05:44:05 PM

Quote from: First77 on January 30, 2018, 05:00:06 PM

Game Over

haha you say "game over" for what?

It's possible the "end" he meant is bounty Facebook, I mean the end for a connoisseur of bounty Facebook, but just a guess and maybe I could be wrong, considering some ICO Scamy also play a role in this discharge

mast3rm1nd

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I guess this have been a long time coming, the vast majority of ICOs and everything that is advertised are scams, I guess these are the rules now and new projects need to adapt to this new game rules.

DAVETUN

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Bitcoin is the currency of this age

Facebook cannot ban crypto, when they do, that migth be the begining of there fall, there will be a major reduction of people using the site, Sure everyone want to figth BTC/ cryptocurrency, as alot of organization in the real world do not have access to the control of the crypto space

jpespa

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Those sacmmers are the reason why cryptocurrency such as bitcoin is being doubted or getting banned everywhere. Now on facebook where obviously almost all people around the world use it. Scammers are not hesitating to use facebook in their fraudulent operations because it easy to advertise there

Topic: They are Banning crypto every where - now facebook (Read 543 times)