Baidu Stops All Bitcoin-Related Advertising

[OmegaStarScream]

For those who don't know, Baidu is a Chinese search engine and according to Alexa.com, It's considered as the fourth most visited website in the World.

Whenever there is good news , bad news follows for some reasons. (Twitch re-adds Bitcoin as payment method and now Baidu stops everything related to it).

Cointelegraph gave two possible reasons since Baidu didn't make any statements.
- Because of Ponzi schemes which they can't control
- Because government asked them to.

Chinese probably have a better knowledge about Bitcoin then most of the Bitcoiners so I don't think they could fall for Ponzi schemes that easy s, In the other hand I don't think government asked them to do that either.


So , where Bitcoin is heading... for real ?

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[calkob]

The Twitch news is great and something tells me the cat is already out of the bag in china "closing the door after the horse has bolted"  so it all good........ cup half full lol 

[readysalted89]

Cointelegraph says Baidu invested in Circle two months ago, and stopping Bitcoin related advertising will harm that investment. Baidu might start a new Bitcoin advertising system that gives it more control over who can advertise, what they can advertise, and how much Baidu gets paid for adverts.

the announcement of Baidu is quite ironic considering the fact that the internet giant invested in Circle, a Bitcoin-based money-sending application just two months ago.

[countryfree]

So what? How much business was lost? How big was BTC-related advertising on Baidu? I bet it's no big deal. A 5-digit figure at best. Correct me if I'm wrong but I've never seen BTC-related advertising on big media, only on small dedicated websites.

[Yakamoto]

For those who don't know, Baidu is a Chinese search engine and according to Alexa.com, It's considered as the fourth most visited website in the World.

Whenever there is good news , bad news follows for some reasons. (Twitch re-adds Bitcoin as payment method and now Baidu stops everything related to it).

Cointelegraph gave two possible reasons since Baidu didn't make any statements.
- Because of Ponzi schemes which they can't control
- Because government asked them to.

Chinese probably have a better knowledge about Bitcoin then most of the Bitcoiners so I don't think they could fall for Ponzi schemes that easy s, In the other hand I don't think government asked them to do that either.


So , where Bitcoin is heading... for real ?

To be honest it probably has something to do with the Chinese government trying to combat money-laundering methods, one of them being Bitcoin; a prominent, valuable, easy to move and relatively liquid form of money that can be moved anywhere. Also considering that a lot of Chinese people are trying to get some of their assets out of Chinese banks, there might be some efforts being made by the Chinese government to stop people from easily moving their funds out of the country, or at least hiding them.

[neochiny]

Cointelegraph says Baidu invested in Circle two months ago, and stopping Bitcoin related advertising will harm that investment. Baidu might start a new Bitcoin advertising system that gives it more control over who can advertise, what they can advertise, and how much Baidu gets paid for adverts.

the announcement of Baidu is quite ironic considering the fact that the internet giant invested in Circle, a Bitcoin-based money-sending application just two months ago.

Since they've invested in Circle, they'll probably allow adverts from well-known bitcoin platforms like circle,bitpay and coinbase, which the baidu admins could verify.

If it's the second though, where they got pressured by the government, as cointelegraph says "It may be the Chinese government’s plan to censor out independent cryptocurrencies and push for the advertisement of state-owned and government controlled Blockchain networks and cryptocurrencies."

Let's hope it's the first one though.

So what? How much business was lost? How big was BTC-related advertising on Baidu? I bet it's no big deal. A 5-digit figure at best. Correct me if I'm wrong but I've never seen BTC-related advertising on big media, only on small dedicated websites.

*Yeah, haven't seen one on big-media yet, though just yesterday I saw some adverts on wuxiaworld.com (i was shocked, seeing as it reached the lightnovels/translation/readers crowd already) so just a matter of time. lol  

[richardsNY]

It won't have any impact on Bitcoin even though Baidu is a huge thing in China. The Chinese government sees Bitcoin as a tool that allows people to get money easily out of the country. I am fairly sure the government has a huge responsibility in Baidu removing their Bitcoin related ads.

[raymond541]

Great news Twitch re-adds Bitcoin as payment method.This is really bad news for bitcoin that Baidu Stops All Bitcoin-Related Advertising.Every time we hear a good news beside bad news.Hope Baidu changed their mind and add Bitcoin as payment method for Advertising.

[Meuh6879]

Bitcoin is better than search engine.
It's like gold, central bank don't talk about it ... but they have a good stock of it (for war).

[JeffBrad12]

Great news Twitch re-adds Bitcoin as payment method.This is really bad news for bitcoin that Baidu Stops All Bitcoin-Related Advertising.Every time we hear a good news beside bad news.Hope Baidu changed their mind and add Bitcoin as payment method for Advertising.

Just waiting for a more information about the explanation from Baidu. maybe the factor is having a big chance cause Baidu stopping all of the advertising is related to bitcoin is an the intervention from the 3rd parties.

[mobnepal]

Two possible reasons by cointelegraph could be the real reason behind this but if they don't like to have ponzi programs running in their network, why don't they just moniter every ad when it is created. If baidu have stopped than do you think google adwords also do same in future?

[Decoded]

Let's just wait and see the effect of this on the bitcoin price. Let's hope the bitcoin price doesn't drop too much, eh?

EDIT: It dropped about two bucks

[The Sceptical Chymist]

For those who don't know, Baidu is a Chinese search engine and according to Alexa.com, It's considered as the fourth most visited website in the World.

Whenever there is good news , bad news follows for some reasons. (Twitch re-adds Bitcoin as payment method and now Baidu stops everything related to it).

Cointelegraph gave two possible reasons since Baidu didn't make any statements.
- Because of Ponzi schemes which they can't control
- Because government asked them to.

Chinese probably have a better knowledge about Bitcoin then most of the Bitcoiners so I don't think they could fall for Ponzi schemes that easy s, In the other hand I don't think government asked them to do that either.


So , where Bitcoin is heading... for real ?

To be honest it probably has something to do with the Chinese government trying to combat money-laundering methods, one of them being Bitcoin; a prominent, valuable, easy to move and relatively liquid form of money that can be moved anywhere. Also considering that a lot of Chinese people are trying to get some of their assets out of Chinese banks, there might be some efforts being made by the Chinese government to stop people from easily moving their funds out of the country, or at least hiding them.

Makes sense.  I suppose it would be too much to ask that they stop the zillion dollar a year counterfeit industry that's flooding the rest of the civilized world with crap.  In fact, it makes me wonder why such a corrupt government would even care about bitcoin.  Glad I'm nowhere near there.

[TastyChillySauce00]

if their government really ask baidu to stops all advertising which is related to bitcoin,i wonder how's about the chinese miners in the near future?
but i guess it's have nothing to do with their government if those miners are now still mining normally without getting warned by their government

Chinese probably have a better knowledge about Bitcoin then most of the Bitcoiners so I don't think they could fall for Ponzi schemes that easy s, In the other hand I don't think government asked them to do that either.

i think it's not right,even in china,i guess there'ss still exist a dumb people who still fall in ponzi

[OmegaStarScream]

Two possible reasons by cointelegraph could be the real reason behind this but if they don't like to have Ponzi programs running in their network, why don't they just moniter every ad when it is created. If Baidu have stopped than, do you think Google AdWords also do same in future?

They must have thousands, If not millions of ads so monitoring them is probably not an option for them, Google do advertise for random stuff related to Bitcoin (like Bitcoin generators, etc... which obviously doesn't exist and contains malware as bitcoin is based on cryptography).
If a lot of people report them, they will probably get removed, though. (It's the same way as faucets, It's against the rules of Google Adsense, but people use them anyway, so unless someone reports that website, Google won't remove their ads from there)

[target]

its probably both

- Because of Ponzi schemes which they can't control
- Because government asked them to.

Even the very techie users got scammed by the trusted exchanges such as crypsy and the rest of the exchanges that could turn scam. polo seem to be acting weird and there could be a chance of hacked declaration. And so the government was alarmed so they asked not to advertise bitcoin related sites before the crypto money can threaten Chinese economy.

[Menereron]

Chinese has been known to censor many things that they do not like and is not in favor of their views, so this is nothing new

[Patatas]

For those who don't know, Baidu is a Chinese search engine and according to Alexa.com, It's considered as the fourth most visited website in the World.

In which ways ? They will be losing out on a lot of ad revenue.If they're fine with that,why should we bother ?

Whenever there is good news , bad news follows for some reasons. (Twitch re-adds Bitcoin as payment method and now Baidu stops everything related to it).

How many people even use Baidu?Don't think that will be doing any bad to the bitcoin world except for faucets.Do you think they will stop showing faucets as well? Faucet==Bitcoin adds==Against baidu's new terms and conditions?
 

Cointelegraph gave two possible reasons since Baidu didn't make any statements.
- Because of Ponzi schemes which they can't control
- Because government asked them to.

Well,they can always check the businesses before advertising them ?Simply putting a ban on all the advertisements which endorse any bitcoin related investment procedures should have been a much simpler solution

Chinese probably have a better knowledge about Bitcoin then most of the Bitcoiners so I don't think they could fall for Ponzi schemes that easy s, In the other hand I don't think government asked them to do that either.

That's a myth!Don't be surprised to know that Chinese are well versed in running biggest ponzi schemes.

So , where Bitcoin is heading... for real ?

Not sure where that is coming from.What any of these has to do with the future of bitcoins?You're blowing it out of proportions!
[/quote]

[Wind_FURY]

The Baidu news is a non-issue for Bitcoin. BTC was fine before Baidu did BTC related advertisements and it would not make a difference if they decide to stop now. Maybe the writer of the article at CT thought it would make a good story or something.

Also be careful with most of the BTC news sites. Some of them write stories for the sake of writing and having something fresh and new at their sites. So take some of these stories with a grain of salt.

[p_linz]

Cointelegraph gave two possible reasons since Baidu didn't make any statements.
- Because of Ponzi schemes which they can't control
- Because government asked them to.

if it's because of ponzi schemes than this is bad for bitcoin since its bad reputation is hurting bitcoin. we need to do something about this.

if it's because of the government than i can understand it and it might be another point for bitcoin. maybe even bring some more clientele.