Bitcoin Forum

Following such giants as Facebook, Google and Twitter, Snapchat has officially announced its ban of ICO advertising on its platform.
Twitter is reported to plan to implement the announced ban in the coming weeks. There is no final confirmation, nevertheless, it is said that its ban will be also applied not only to ICOs ads but also it will affect cryptocurrency wallets and exchanges with some exceptions.
Will the price fall again?

These bans are a result of the social media giants being American companies. The line of nonsense about placing the ban due to all of the scammers using the buzz is absolutely ridiculous. The U.S. Securities and Exchange Commission has decided to apply pressure wherever they can in the interest of suppressing the growth and eventual adoption of cryptocurrencies. With google and subsequently youtube following suit on the ban in June of this year ICOs will definitely take a hit without the power of these platforms to disseminate information. How much is yet to be seen after June comes and goes.

I have the same thinking. These companies are not banning ads just because they are worried that their members may get scammed by crypto ads, instead they are being forced to do so. Being an american company, they just want to stay out of the controversy and notching else. Otherwise they would not have left such a nice revenue stream. But I doubt there will be any impact on the crypto prices due to such bans, it will open up a new business areas for the existing non-us advertising distribution platforms.

What evidence is there to suggests that the SEC is applying any pressure to them? I think it's probably just PR motivated and they're trying to prevent themselves from facing an increasing backlash as more and more people are scammed in crypto by following the ads they allow.

Seems quite reasonable. A lot of people have been scammed with these Ads and they are ruining the image of the cryptocurrency market by making people believe that it's all a scam which it is not.

It was just a matter of time after the Google ICO ad ban, that other big companies will follow.
It is not a bad thing, as many ICOs were scam and even most of the honest ones will not succeed in the end.
Overall, this might be a good development for the crypto currency world, as the perception of crypto currencies will improve due to this development.

How will the perception of cryptocurrencies improve when big companies are banning ICO- only of the major ways of selling inventions in the crypto space? How will we get to hear about the honest projects?

Not surprising at all, seeing that the general public sentiment leans towards the banning of these cryptocurrency ads which often leads to losses from investors that didn't do their research. These companies tend to use these situations into their favor, so this recent move by Snapchat is by no means a no-brainer given that the public may applaud them for doing the right thing alongside Google and Facebook. Surely bitcoin's price might suffer short-term, but the bright side is that this recent move might prevent further blames from the public that cryptocurrencies, especially bitcoins, are just scams masked by 'technological innovations'.

Seems to be another me-too campaign among social media houses. After Facebook announced its decision to disallow crypto ads, a whole range of tech organizations have followed suit. It seems outright ridiculous that advertisements to enlarge your genitals are allowed while advertisements related to cryptocurrencies are not.

If price issues, it depends on what their objectives prohibit ICO advertising, if the goal is near negative, then certainly will cause panic sell, this will obviously affect the price of cryptocurrency.

Can you share the link on that news referring about the implementing the site's of social media and google ban the cryptocurrency to advertise, do not make news if have nothing proof because you are making a fake news and panicking for those working to advertise the cryptocurrency in social media and ather related site's.

Well. Sadly the ICO market has been badly abused by a relatively large group of people / so called developers. It's inevitable the ico space will drag the crypto world down with it.

I say good riddance. Until we get the fraud out of this ecosystem, it should be banned everywhere.

according to ane google prohibits ads associated with bitcoin and ICO with the aim to minimize the occurrence of online scamming or fraud that occurred in their service. because these ads do not fully provide crypto money service. These ads are used as a gap to embed a crypto mining malware on a user device that accesses the ad.

This isn't an attack on cryptocurrencies like some people may think this is. This is a good call due to the amount of people being hurt financially by these sort of schemes. We've all seen how many ICOs turn out to be a scam, or collecting data from it's members by running fake sign ups or fake bounties. Malware has also been spread through these shams of a business.

Really, who cares about Snapchat? It's an app with a target audience of 14 year olds... Teenagers go to school and do not have their own jobs. It's perfectly normal for them to actually not have much money so it'd pointless to advertise ICOs to such an audience. Moreover, it's also overvalued and going public has proven to be a mistake. Snapchat can't monetise it's own platform and seems to be failing. This isn't a biggie for crypto. The news of banning are actually having more of an effect.

Isn't the collapse of ICOs going to affect cryptocurrencies subsequently? Are the better options/substitutes for ICOs? Or are there going to be strict regulations to counteract scams? Whatis the future going to be like?

Hearing this news makes me sad and a bit angry for the cryptocurrency world. This will hinder knowledge about cryptocurrency enormously. Why? Because the word scam was thrown around too much. There should've been a better solution to regulate ads vs completely banning ICO ads. Not everything is a scam.

i dont know why big company like snapchat and tht other ban ICO ads on their ads boc, they dont make some loss because of it right? why they are banning it? i think after this news the price of bitcoin will fall again  >:( >:(

Likewise, because obviously they are american private company and they don't have any choice to follow the rules implemented by their government so they can be far from controversies. But, there's still a lot of platform to advertise ICOs and implementing crypto currencies in some exchanges sites.

Because they don't want to promote trashy ICOs on their platform, pretty simple is it not. Doubt this news can truly hurt Bitcoin, if anything it will cause a short term loss nothing long lasting about this news.

In my opinion, all ICO ads should be banned. Without regulation, there's totally no guarantee or pressure on the teams if and how well they will complete the products. Once they get their hands on the easy monies poured in by ignorant peopled attracted by ads, there will be even less motivation for hard work. Now with all the ads banned, ICOs will really need to compete with each other to get funding. This will compel them to deliver more high quality products in the end. It's definitely positive for the crypto ecosystem in the long run.

Yes.This Is True.I Read News About Ban of ICO Ads In Snapchat.

Why every big company banning advertisements of ICO?

It's obviously going to have a big impact on the whole market.
This is obviously not good news because most social media prohibit the promotion of ICO and encrypted currency markets.

So much this.  I'm sure it has some novelty value, but it's not even remotely conducive to providing useful information about financial matters.  

If anyone is taking serious investment advice from Snapchat advertisements, then, to be blunt, you've got bigger problems in your life and you've taken a major wrong turn somewhere.  Reevaluate your priorities immediately if you would even consider putting money into something because an in-app ad told you it was a good idea.  If you're that easily manipulated, or your impulse control is that poor, you need to put the device away now and not use it again until you've got your shit together.

These companies are regulating the ads that maybe some people see it as annoying. Its a strategic plan of social media platforms because they know that there are people that gaining profits with their site without them gaining some money.

Maybe as things are going down again. Too much negative news about the digital currency market, it exploded last year, but gradually, it's gloomy, too many things that hinder its development.

These companies tend to use these situations into their favor, so this recent move by Snapchat is by no means a no-brainer given that the public may applaud them for doing the right thing alongside Google and Facebook

No it didn't fall when the Facebook and Google banned it. It was discussed in great length in this forum at those earlier occassions and the concensus was that it is generally a positive thing for cryptocurrencies. You see, the ban relates to ICOs not to crypto in general.

its good for people bcz now a days people getting scammed by ico ads.so this ban will not make fud in the market but a very good for bitcoin i think.

It was not unexpected, honestly. This is because of the SEC putting ban on cryptocurrency. Social media is a platform through which they can actually block to stop Crypto being followed. PRG for instance, supports the use of cannabis. If it blocked on social media, the use of cannabis will not be promoted.

By banning bitcoin on Social media, the SEC wants us to believe that bitcoin shall soon diminish, however, in spite of all these bans, Bitcoin is able to grow and the number of customers is increasing day by day. TAU has a lot of users as they know it shall be rising in price and value.

I didn't know there were ICO ads on snapchat, but I guess it was bound to happen (especially to "protect" the younger audience that uses that platform from being scammed). Although I understand the ban (as a protection method since there have been so many ICO scams), I have said this in the past, most of those ads are targeted. I never saw crypto related ads (ICOs, exchanges, wallets, etc.) until I became involved with crypto. If I google crypto related news, ICOs, etc. then ads I get are crypto oriented, just like when I look for hotels, or flights, the ads I will get are those. Rather than banning than entirely, they should establish better filters.

I do hope this doesn't affect prices once again. People are responsible for what they do, and before investing / buying anything you should do your research (just as easily you could get scammed purchasing a World Cup travel package from an ad).

It’s true. I’ve seen these suspicious-looking ads that promote crypto. I think on this aspect, it’s good that most platforms banned these ads.

Nobody can guess how the price will react, but I wouldn't be too concerned about Snapchat cancelling ads... it's hardly the hot spot for ICO investors... I dodn't even know they had ads lol.

If Facebook and and Google's ban doesn't hurt the price too bad then I really wouldn't bat an euelid over SnapChat.

I will update this information facebook company are removed the ban about virtual currency but as of now I have no information update about snapshot, face removal the ban for cryptos advertising and facebook after long time issue about crypto ban because of the scammer's and now fb create their own coins in blockchain.

It is not a news in the first place as every market can choose what advertisement they want to show and the problem lies on how they are going to make exceptions on what advertisement to show and what not to. This might not impact the market price because the ban of advertisement is not a very big thing for bitcoin but it might affect the ICO market as they rely on these market to advertise the coins.

Cryptocurrency ad ban is sponsored by government or atleast government might have threatened all this platform to stop running ICO ads.
If not why these giants ad sucker will stop running one of the most profitable ads on their platforms.

Its not about ethics and all, its joint government effort to demotivate cryptocurrency believers but they will eventually fail...

After facebook plans to block bitcoin and make new coins, then what? Does snapchat also do the same thing? This is ridiculous. They try to destroy the bitcoin but they hope the new coins they make can develop, when in fact bitcoin is the parent that affects the value of all altcoin. They do not think if bitcoin is destroyed, then the coins they make will also be destroyed.

No, they are not trying to destroy bitcoin but this move can have some hidden agenda that they are the only one that knows it. And about a new coin that can be developed that's very likely to happen as facebook shows their interest about blockchain and by hiring someone that is experienced with this thing.
They only care about their company and why would they care about bitcoin, they are billion dollars company and besides if bitcoin goes down, these alts will follow.

I am sad to hear this news. looks like more and more companies are trying to limit crypto. However, crypto still has a lot of potential as these companies (like Facebook) and planning their own coin.

It is not a bad thing that social software prohibits the promotion of ICOs.
Many projects are now scams that make it impossible for people to judge whether scams will have an adverse effect on the entire cryptocurrency market.

Well, I do think that this is just the right thing to do because there are some advertisements out there that are just scam and trying to get you scammed with your money and It is really kinda annoying also seeing those advertisements for real. If I want to know about cryptocurrency then you need to do your own research than clicking some ads that you are not sure if its legit or not.

Its sad to hear about that. Well, in my point of view, for sure snapchat and other social media like facebook and twitter is also following regulation in their admin. Because of scamming in ICO and cryptocurrency some social mediais not trusting ICO's. for sure, this social media is avoiding to scam their people and more companies is limiting cryptocurrency ads. However, as long as many people and bitcoin users is trusting cryptocurrency and the investors still investing in cryptocurrency we will never be vanish in the internet. Although bitcoin has no guarantee still  we need to trust and supoort the crypto world it so it may recover soon.

No, because there are many ICOS based on social networking sites to run ads, engage in fraudulent fundraising and cheat investors.

What kind of a serious project would advertise themselves on Snapchat? I don't see any point in reaching people who only care about their selfies. ICOs are getting more and more dumb and I'm not surprised that so many countries and companies are trying to fight with them. There have been many ICOs which turned out to be scams despite huge advertising.

Great news...not

Because ICOs usually scam, Snapchat officially bans it. they just want good things to their users.

ICO is a good investment channel but needs to be considered before joining, the mass advertising also affect investor psychology!

Snapchat is not too popular and use by many people unlike others social platform like facebook twitter linkedin so the ban can't make any effect at all. snapchat is mostly used by celebrities even in my country we dont use it much.

first time facebook and then twitter, now snapchat ban the ICO ads too? why? ICO Project is not a crime right? i think its legal if we want to promote it in the social media or other platform. but why? all the bigest social media always banned ICO from their platform?

I think the reason of having too many scam ICOs is just reasonable for the ban.There are too many projects that just end up as scams and theses companies i think are just protecting their users.

We cant blame for doung such preventive actions. This companies dont like to be dragged to malicious spread of this scam projects. It just so sad for those who are doing their bounty using social media. I onced part of a social media bounty because its one easiest bounty to do, no so much rules to follow, all you have to do is to share and post your report. But maybe somehow its a very good move for most of the investors, this will elimanate those false project.

Well, this might be a good step for them. I mean, a lot of scammers are scattered in the world of crypto currency nowadays and we can’t blame these companies if they ban and prevent  ICO Ads for the sake of its users but this is quite unfortunate news for ICO world.

I'm very much surprised when social networks say something to someone! Social networks consider themselves kings in the world!)))) The whole society of people is committed to the development and promotion of the crypto market around the world! and no one can forbid us! the more Facebook, too, recently banned, but now everything is resolved!

That's just a regular reprimand for the app because I'm sure there are still many other applications that accept about Cryptocurrency.

We can see that Tweeter is now launching their token and his Facebook plan will also launch a toekn.
So, things like that let it be like a wind that blows meaningless.

For now it is harder for me to believe in those news because I have seen so many cases including the Facebook cryptocurrency ads ban, when it turned out to be cancelled and reverted.

We all are aware with this thing that the population of the world has been divided into the two , one who lives bitcoin and the second one who are in against of bitcoin and I don’t understand the second category of the people that why they are not able to understand the fate and potential of bitcoin and why they hate it so much , now the social networking sites like Facebook, Twitter and snapchat has also decided to ban crypto ads over their page but I come up with one more news that after the banning of crypto ads, the shares of Facebook has deflated by 5%.

Not really too phased by this because the average crypto influenced person is not one who spends all their time sending pics on snapchat doing puppydog faces or nudes.. The heuristics of people on there is much different than the people who will actually adopt crypto.

Not only Snapchat but there are other social networking sites also like Facebook Twitter who has banned crypto ads and there are many other people also who don’t want bitcoin to be used anywhere but let me clear the consequences of this, Facebook, the largest social networking site among all, I guess has reduced its shares by 5% since when it has banned crypto ads over its page so it feels like happy that bitcoin lovers are more than the bitcoin haters.