Bitcoin Forum

Just few days ago, Mark Zuckerberg said about Blockchain Technology:

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I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.

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and now we see the result of it :

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Two of our core advertising principles outline our belief that ads should be safe, and that we build for people first. Misleading or deceptive ads have no place on Facebook.
We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.

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Banning cryptocurrency-related ads will affect lots of legitimate businesses in crypto space and Mark Zuckerberg knows that, So I think that Facebook by taking this action is showing no interested in Blockchain technology.

A very good decision If you ask me. I've seen some of these ads before, using known faces like Floyd Myweather etc. just to make people invest while they know they can't deliver anything they promised. This shouldn't be taken the wrong way, Facebook is just trying to protect it users. People will trust crypto more now because they will get scammed less. As for mark's statement, I wouldn't be surprised If they start accepting bitcoin by the end of the year.

Maybe they are getting some heat from US regulators. I wouldn't take it as a sign of Facebook's long term direction. They are well-positioned for the digital wallet and remittance sectors, and those will inevitably include cryptocurrencies. They might be feeling some pressure to do something after recent comments from SEC and CFTC, which hinted at upcoming actions against bad actors in the space.

The Facebook and Youtube scenes seem full of scams, referral shilling, HYIPs, etc. It's probably for the best. Hopefully this is temporary while they craft a policy that prohibits "misleading or deceptive promotional practices" but at least allows educational crypto ads.

I'm having very similar opinion.
Besides let's face it, Facebook is a private company and they can do whatever they want on their servers.
There can't be even one mention about censorship of this or that, because of that simple fact.
Clearing the space of massive amounts of ICO related advertisement will only benefit the entire market. One thing is that people will start to do research on their own, second thing is, markets do not like vacuum. This whole "ban" will spawn some other big player, where such adds will be available. I'm not a big fan of social networks like facebook, but when it comes to "sense of business" they usually know what they are doing :)
ergo facecoin in 3...2...

no. The technology powering bitcoin could help improve Facebook in the future, Mark Zuckerberg has said. he believe Blockchain

I don't necessarily think it's that Mark doesn't like cryptocurrencies. I just think there's a lot of scams and fraudulent ICOs that he doesn't want that on his site. Just recently, many people got scammed with BitConnect and there have been many other fradulent businesses. Therefore, I could see why he wouldn't want that on his site. To me, it makes sense. Imagine users on the site clicking on an ad and giving money to one of these scams. Then when facebook actually does implement a legitimate cryptocurrency, people who were scammed would be so turned off by it. So I could see why he would take this approach. The cryptocurrency world right now is like a needle in a haystack. There are many illegitimate coins out there and a few jewels. Picking out the jewels is not that easy. Therefore, to protect consumers and to keep the reputation of cryptocurrencies intact, it makes sense to do what facebook is doing. This is just my opinion.

Indeed involving in such as this might ruin they're reputation and can cause serious damage or many problems in using this Technology. The Reputation along blockchain technology is not that great mark zuckerberg is just being smart. I think mark zuckerberg won't acknowledge this as a good method to use in their business.

I do not believe facebook's anti ICO / anti crypto stance is motivated purely by humanitarianism or concern for the safety or welfare of human beings. ICO's are past peak and failing. There is virtually no one left with faith or belief in them and a great deal of negative publicity which should keep anyone who does a superficial degree of examination of ICO's from investing in them.

Facebook's banning of crypto ads could have more to do with a desire to reduce the degree to which people are exposed to concepts such as decentralization, deflationary currencies, algorithmic based supply and a host of other concepts which they do not want everyday people educated or informed of.

The advertising ban may also be motivated by a desire to mitigate the abandonment of the US dollar we see around the world with china, russia and even venezuela shifting their us dollar denominated oil transactions to the yuan and other currencies. I can think many reasons for this ban and many of them have little to do with concern for general welfare, unfortunately.

Three words. The Winklevoss Twins. Facebook is the brainchild of the Winklevoss twins. Mark stole their idea and now he is forced to collide with the twins yet again since the twins are backers of Bitcoin.

I would say its not that he does not believe in the blockchain technology but when you look at a company like Facebook, decision such as that are beyond Mark himself the company is publicly traded which means that there is a board that oversee the affairs of the company in which Mark himself have to report to or else, he might be forced out of the company.

We have read how government agencies have forced Facebook to provide details of individuals posting on its platform that is against the principles of the government in power. In some other cases, we have seen Facebook banned in some countries. Again the myriad of unscrupulous individuals have been responsible for people losing their money on Facebook and when they complain, they go their regulatory authorities which then writes to Facebook. Even now it has gotten to a point where ads I see on Facebook I write off as false. So, don't let us blame Mark but the kind of people this market have attracted and are responsible for the soiling of name that have been built.

Yeah and they have a lot more Bitcoins than Mark is ever going to have ... and he knows that.

Other question: Is Facebook part of the national security?

Maybe some whales there just payed off Mark to put up a Fud like this. I know later these days he will announce that he will take it back again.

He has some trust with Blockchain technology he is currently supporting NEM just to make Facebook decentralized.

I think he is just really freaking tired with the mlm(Multi-level marketing) scams that are surrounding the ads banner in facebook that can be promising to have big returns by investing money on their project.

It's much better if Mark would just filter the ads space for Facebook rather than banning it from the community

I share your sentiment and also feel that this is a good move to protect the users against ICO advertisement. It doesn't in any way define the general policy of FB towards cryptocurrency and blockchains, I agree.

However I would argue with the statement that FB is a private company and they can do whatever they please with their servers. Well - they don't. I don't know the exact law that is in US, but here in Europe, at least in my country, your operations are regulated and I think it is good. You may do whatever you please AS LONG AS YOU ARE ACTING inside the boundaries of law. But FB is present in my country too, so they will need to obey the law.

For instance: there was this case quite recently that a printing company said to a client (an LGBT foundation) they would not be providing the services because they don't appreciate the LGBT movement. The client went to court and won.

Mark still believes in the tech, it's just that he studied it(like he said he would in his earlier statements) and chose to consider the negative sides of crypto. If that's not the case, he might be sitting in the fence here as his platform is a very influential entity and he chose to eliminate any possibility it might be held accountable if things go haywire someday.

When do they they will start to ban it? Because I still see some ico ads there in Fb.

well, if the ads were missleading or fishy (i don't have facebook so i can't relate to that but it's easy to make an ad and make it appealing) i wouldn't blame him for this.
On the other hand wasn't him studying crypto with the idea of creating his own coin? This two stuffs can be related and i don't see any illuminati conspiration behind like being paid from whales to spread this kind of news.

maybe facebook is getting some heat from US Regulators. Also, Mark doesn't believe in a lot of things that other people do, does that mean mark is right and others are wrong? Well, in personal life, mark is atheist and doesn't believe in religion - but most of the Facebook users do - so, does that changes believing the status of every user?

No, I think he believes on the blockchain technology because of the statement that he said that he will go study and deep understand the blockchain industry. So I guess he will help to promote more advertisements.

Have you seen some of the Bitcoin ads on Facebook ?  A lot of them are using images they have no right to use. Iv even seen them using images from Morning TV programs which clearly have nothing to do with Bitcoins and if you click on some of them they are nothing but scams or full of crappy popups and redirects.
Facebook have said they will look at crypto ads again when they can better monitor them, so they are actully doing the crypto community a favour by stopping all the scam ads. Im not saying all crypto Facebook ads are scam either but I think its a good that Facebook are trying to clean it up. They also are not shutting down Crypto Facebook pages so they are not completley banning crypto either.

We can't say if he really does not believe in the power of cryptocurrencies, especially bitcoin, just because he banned advertisements of the cryptocurrency on his website. I just think that he does not want bitcoin to be advertised on his site when he was in a solid partnership with paypal and other internet debit providers.

I don't think that he don't like or dont have any interest in blockchain technology or cryptocurrency. It is just that there are lots of fraudulent and scam ICO/projects that are being advertised in their platform, as an owner of course you don't want your company/platform to be a part of this kind of scams, he didn't say that he don't like Bitcoin, Ethereum, Litecoin or any cryptocurrency, what he don't like is those company that uses those coins to scam people. He even announced the he wants to study the positive and negative aspects of using blockchain technology and also hinted that he wants to create his own cryptocurrency to improve facebook.

I see information that he believes in block chain technology!


"I look forward to working with the panel to discuss and develop this proposition," Mr Zuckerberg said. The development of cryptocurrency reflects an important trend that the power of the central system is back in the hands of the people. This new form of technology will shape a whole new business world and solve the world's problems.

The problem is that most crypto-related businesses that advertise on Facebook are scammy. I've seen some of these ads before, and I believe it's a good move to remove them altogether. More people getting scammed by crypto businesses means less open-minded people in the future. They do increase awareness somewhat, but they also ruin crypto's reputation by scamming the not-so-knowledgeable.

I don't think it has anything to do with Mark Zuckerberg's stance on blockchain technology either. Cryptocurrencies are just one out of its countless possible applications, and a person could both be against cryptocurrency and an advocate of blockchain technology at the same time -- just look at banks.

I think Mark is really not understanding the aspects of crypto currency and he may have got scared after seeing the complex block chain technology. Lol! No worries mark, we still believe in the Facebook and will keep using it.

Facebook might be going against the crypto due to too much output that Facebook is giving in terms of "investors for the blockchain" and not helping the Facebook to grow itself. It could be one of the thing that Facebook is attracting its rivals rather than friendly people. Facebook may get converted into dump yard for the crypto advertisement and people might just start talking about the crypto everywhere rather then their personal life, friends etc for which the Facebook was invested (re-invented).

I think facebook just wants to create a new token by itself.
However, the current ban on ICO advertising, I think, is likely to be a legal issue, as all countries intend to restrict or ban ICO.

Their announcement clearly states that they just want to avoid ponzi schemes and scam ICO projects getting advertised in their facebook and to protect the interests of their users,they just want to ban such ads.

Your topic is just misleading that mark doesn't believe in blockchain technology.No such statements has been made even a single time in that statement.Hope its clear now.

I would say if he just banned those ponzi schemes and scam ICO projects, but the decision including ICOs even those that operate legal, legitimate businesses and cryptocurrency in general, in order words he banned entire industry.



Notice that I used the work " seems " and connect between two speeches of him, so I see no misleading since I put quotes and give my point of view and let you give ur point of view about the matter.

These are two completely independent things. Mark Zuckerberg or facebook in fact, believe that they should not allow people to advertise using their service with the intention of misleading people in to investing. This is what many ICOs did and many investors lose out because of it. Rightly or wrongly that is their choice but it has nothing to do with believing in blockchain technology or not. My personal opinion is that they should let the ads run and it's the consumers responsibility to do their due diligence and make well informed decisions but evidently at Facebook they feel it's their responsibility to try and protect their user base from their own stupidity or naivety.

maybe there's a more detailed reason why he does not trust the block chain? whereas many scientists  acknowledge the greatness of the block chain system, I think that he did already make users crypto disappointed even some hate it, and maybe the impact is the facebook rating to be down.

Why do you think that mark Zuckerberg doesn't believe in cryptocurrency? He doesn't want to spread FUD. Can someone put up a claim for what he provides advertising space to fraudsters. There is always the possibility that your words or actions can be misconstrued. This topic is a typical example of this.

It's sad to hear that but they can do anything that they think it's right.
I can also said that bitcoin is not 100% secure ( example : Japanese exchange got hack )

Meanwhile FB try to implement bitcoin yet bitcoin's negative impact are greater than it's advantage or maybe bitcoin need additional time to adapt the current situation, I think.

I am not sure of it. Mark (I suspect at least) might deal with crypto himself. OK, he does not want to see any information (ads) referring to this topic on the pages of FB. We will go to YouTube, which is going to use blockchain technologies by the way.

Hi,

It seems that Mark Z. has never made something to make society better. He acts quite selfishly and I guess ths won't change now that he is a billionnaire.

Is it really important? Do you stop believing in something just because someone you don't know said he doesn't believe in it?

What I mean here is that we need enhancement and support, indeed, to develop the community. Though, I don't think we need celebrity endorsement and thus... Well it doesn't matter if Bill Gates and Marky Marc don't believe in the blockchain or any technology related to cryptos. They have invented stuff, they won't necessarily be able to understand and forecast further changes.

We don't care about Zuckerberg! ;)

I don't think MarK Zuckerberg hates blockchain technology, it's just that there's a lot of happenings regarding to fraud in. Crpytocurrency performing ICO advertisements, that nowadays theres a lot of scammer everywhere so I think he just wanted Facebook user's or community will be safe from it, and I just read an article about Mark Zuckerberg that he is gonna make some partnerships with the Founder of Litecoin, that their making silent appointment with it. Well that's just a rumor, I don't know yet if it's true or just a fake news.

This is why facebook is banning advertisement in facebook? Well, we cant blame him for that. Nowadays, social media is being used in wrong doings to benefit only some. Maybe Mark Zuckerberg like facebook to deliver a informative and equal information for everyone and to connect each other. If some of tjis cryptocurrencies marketing will stain their reputation, no one will believe in facebook anymore. But we cant never tell what the real behind reason for him to do that.

Very poor conclusion, I dont see there is a direct link between his statement to look into blockchain and the decision to ban ICO adverts.  One is a R&D subject, the other a commercial decision, with possible legal input.  

I dont think people realise just how close to the wind most ICO are sailing for US regulators  Normally IPO stock raising has to jump through many hoops and their prospectus are dominated by a list of risks and threats to the business.  Contrast to ICO where i dont think i've ever seen a risk highlighted, they are sales brochures and if lucky a competently compiled technical description of the system. They are most certainly illegal in the US, hence all the "you cant participate if a US citizen" and Facebook have taken the view its not worth the risk the SEC come after them for advertising.  

Meanwhile the Zuckerberg wants to look at how to utilise the technology.  

In a such big platform, used by basically everyone in the world, it opens up to tons of different spam, scam, porn, you name it.
Banning crypto ads to me it's a wise choice because, even if i don't have a facebook account, i can imagine these kind of ads and i guess 1 of 10k ads were genuine and not ponzi or scam.
From banning ads to "he doesn't believe" there is an huge difference, hosting ads for fishy ICO's would just ruin the credibility of the platform itself, no need to cry over it (i feel for the legit ads, paid ones who got trapped in this bans) even though it affected the market price as soon as the news were spread.

If the aim is to stop spammers then it is very good idea but I hope it doesn't effect people like us who is doing proper bounty campaigns through their facebook accounts. There should be freedom for account owners about what to share on their feeds.