Bitcoin Forum

 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/

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

Can't say I blame then really. The vast majority are loathsome scams with no redeeming value whatsoever.

I presume they'll vet and readmit the legit advertisers but then again if you are legit you probably have a much, much lower need to advertise.

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.

Game Over   ;D

Maybe they are getting ready to launch FedCoin. :)

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

If Facebook banning something it means that they have to offer something just like banning the cryptocurrency advertisement it means that they are creating something like cryptocurrency too. Some rumor say that Mr. Zuck was studying about blockchain technology, maybe he will  propose a blockchain for facebook.

Well facebook is right about it,I see alot of ads in facebook promoting ponzis and scam projects.
They are just trying to protect users as when people get scammed by these projects, Facebook is taking a hit in the face since users will go and complain about it in Facebook's support.

Majority of these binary and ICO related ads are misleading, there is no doubt about it. So Facebook has a reason behind their decision and I am sure it didn't came out of the blue. It is a well though fees decision because Facebook is going to loose a huge revenue stream.

It shows that ICO market needs to increase the reputation they currently hold and bring back the credibility. Otherwise, ICO market will be filled up with scammers like ponzi market. So I somewhat support thia decision.

This is bad news for us. If Facebook forbids anything, it means they have to offer something like banning cryptographic ads, it means they are creating something like cryptocurrency as well. Some rumors say about blockchain technology, maybe he will propose blockchain for facebook.

Not really. It's more down to all of the ads being scammy shit with zero redeemable value.

Can you point me to any that aren't? I'm not on Facebook but every other cryto ad that's gotten past my blocker looked like rancid junk to me.

It's a bad news to crypto world. They stop this because of scam coins that they make investor hopeless. Its their right to protect their platforms not to use by any illegal activities such this scam coins. I agree to them even crypto may affect.

Yes since crypto currency market is decentralized and uncontrolled by any one, there are lots of scam projects which post huge number of ads in facebook. So they have decided to do such a thing.Facebook has now become a powerful media and its users becoming victims of scam projects could not be left unnoticed. Scam projects list is becoming very high nowadays and hence Facebook team had no other option than this.

policies we must follow but we also have to try for example by creating a technology that can filter various forms of good projects and the scam. so will many people who feel benefited by the existence of this cryptocurrency advertising.

These scam Coins has destroyed the reputation of ICO's and cryto's all around the world. Even social media platforms think that these ICO's is pulling down their reputation in eyes of their users.

haha you say "game over" for what?
I think this is one of the first steps that can make it all the more careful in following various projects. because with such a policy, people will be more careful in choosing cryptocurrency projects to avoid failures.

Well thanks to all those ICO scams which are only interested in making quick money instead of contributing truthfully to the development of crypto market.

You rather have people get scam and not come back.   Good thinking.

http://metro.co.uk/2018/01/29/crypto-coin-company-disappears-millions-leaving-one-word-message-penis-7270455/amp/

Things like this do happen a lot.

Banning ICO ads is not equal to banning crypto. I really do feel many ICOs are bringing bad press.

x2

It is reasonable for Facebook to ban advertisements about bitcoin. It causes fake information and offers. However, the opportunity for bitcoiners to earn with Facebook was ended. I think they may issue some rules and regulations instead.

the idea of them and the reason for not letting ads seems logically to me as there were too many scam icos and ponzi schemes in the crytpo world that lead into skimming people`s money.

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

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

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.

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

Yes, this is a big problem for us(

It remains only unaffected by Twitter

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.

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.

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.

Why use Facebook ??

Donald Trump is always on Twitter  ;D

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  >:(

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.

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

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.

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.

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.

South Korea Won't Ban Crypto Trading, Says Minister

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

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.

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.

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 .

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


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.