Facebook bans all ads related with cryptocurrency (Bitcoin altcoins, ICO, etc.)

[eternalgloom]

Facebook is banning all advertisements for cryptocurrency, including Bitcoin and initial coin offerings, as part of an “intentionally broad” policy against deceptive marketers. Product management director Rob Leathern explained the decision in a blog post, saying Facebook will no longer accept ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices.” He says the decision isn’t permanent, though, and that Facebook will revisit the rules when it’s gotten better at detecting and removing bad ads.

Source: https://www.theverge.com/2018/1/30/16951670/facebook-cryptocurrency-bitcoin-ico-deceptive-marketing-ban

So, what do you guys think about this? Do you think it is fair that Facebook is just going to ban anything related with cryptocurrency, also legitimate services?
I mean, I can understand that there are many scams going on in these ads and Facebook users were probably complaining, but this?

I think this is a bit of an overreaction and Facebook must also be losing a bit of income over this, since crypto is so popular with advertisers at the moment.

[Addywealth]

Am in support of Facebook banning every advert relating to deyto currency and bitcoin, smart guys are now using Facebook to defraud people of their fund. 

[Minnie1928]

The real reason behind this new decision is that Mark Zuckerberg is planning to release his own cryptocurrency. There is a hidden plan behind the curtain that is slowly revealing itself alone to the potential investors. I don't think that other developers will be very fond of this because with current capital and technology facebook could make a breakthrough on the market. Other ads that are currently promoting designated cryptos are a threat currently to the Facebook because if Zuckerberg plans really to release his own crypto promotion of other crypto is the first step to start his potential plan.

Here is a link to an interesting article about  the possible Facebook cryptocurrency:

https://hackernoon.com/facebook-could-launch-the-ultimate-cryptocurrency-2e6a5b65665b

[aoluain]

I dont think its fair, but realistically facebook cannot moderate
Crypto ads and decide what is legitimate and what isnt, hell we
ourselves gave a difficult time doing that at times.

It really is unfortunate that the scammers are ruining things
for the above board legitimate projects.

Facebook and social media in general is a great way to reach
new potential crypto users and this move is not great and i
dont even like facebook.

[tiggytomb]

I'm afraid that facebook can do whatever the hell it wants, this will impact a lot of projects looking for the extra visibility on one of the largest social media sites.

True that there will be scams but this is the same for many industries that advertise on the internet, facebook will lose money but with the amount they make I can't see anyone losing sleep over it.

[ralph_0608]

I have read the news that facebook is planning  to ban all crypto related news including ICO. As a bounty campaign member this may lessen our access to earn more coins since facebook campaign would be put on hold

[Jednopivo]

I think it's fine to ban ads - those from those wanting to scam people. BUT Facebook is guilty of also being used as a mouthpiece for fake news. Plus Facebook Live - where murders have been broadcast and sexual assaults. They should sort this massive problems out but no, they go for the easiest way to generate some good-ish PR.

[joniboini]

Facebook is banning all advertisements for cryptocurrency, including Bitcoin and initial coin offerings, as part of an “intentionally broad” policy against deceptive marketers. Product management director Rob Leathern explained the decision in a blog post, saying Facebook will no longer accept ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices.” He says the decision isn’t permanent, though, and that Facebook will revisit the rules when it’s gotten better at detecting and removing bad ads.

-snip-

From what I see, the decision to bans all ads related to cryptos is because Facebook has its own problems to detect which one is legit which one is a fraud. Hence, they should fix it asap I guess.

The real reason behind this new decision is that Mark Zuckerberg is planning to release his own cryptocurrency. There is a hidden plan behind the curtain that is slowly revealing itself alone to the potential investors. I don't think that other developers will be very fond of this because with current capital and technology facebook could make a breakthrough on the market. Other ads that are currently promoting designated cryptos are a threat currently to the Facebook because if Zuckerberg plans really to release his own crypto promotion of other crypto is the first step to start his potential plan.

Here is a link to an interesting article about  the possible Facebook cryptocurrency:

https://hackernoon.com/facebook-could-launch-the-ultimate-cryptocurrency-2e6a5b65665b

Hmm, it might be possible.

I dont think its fair, but realistically facebook cannot moderate
Crypto ads and decide what is legitimate and what isnt, hell we
ourselves gave a difficult time doing that at times.

-snip-

At least they have more resources to scrutinize their ads. I believe it is easy for them to build a specialized team to check out their ads.

[zarados]

Facebook is banning all advertisements for cryptocurrency, including Bitcoin and initial coin offerings, as part of an “intentionally broad” policy against deceptive marketers. Product management director Rob Leathern explained the decision in a blog post, saying Facebook will no longer accept ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices.” He says the decision isn’t permanent, though, and that Facebook will revisit the rules when it’s gotten better at detecting and removing bad ads.

Source: https://www.theverge.com/2018/1/30/16951670/facebook-cryptocurrency-bitcoin-ico-deceptive-marketing-ban

So, what do you guys think about this? Do you think it is fair that Facebook is just going to ban anything related with cryptocurrency, also legitimate services?
I mean, I can understand that there are many scams going on in these ads and Facebook users were probably complaining, but this?

I think this is a bit of an overreaction and Facebook must also be losing a bit of income over this, since crypto is so popular with advertisers at the moment.

this is a surprising decision on the part of facebook, because if they refuse cryptocurrency-based advertising such as bitcoin, altcoin, and ICO, they will certainly miss out on huge profit potentials.

But if viewed from the good side, the goal of facebook is nothing but protecting its users from fraudulent acts that occur in the ICO project because the role of facebook as the largest social media in the world is very influential on the spread of something.

[Renai0925]

I am pretty okay if they ban all sorts of ads about bitcoins if it means to keep those frauds away. Sometimes such measure, albeit little or extreme, is the only option. Can't blame them.

[Sexie]

I'm afraid that facebook can do whatever the hell it wants, this will impact a lot of projects looking for the extra visibility on one of the largest social media sites.

True that there will be scams but this is the same for many industries that advertise on the internet, facebook will lose money but with the amount they make I can't see anyone losing sleep over it.

.       People all over the are using  social media, especiallly advertising products so easily. Bitcoin is one of them or tokens too. They are good part of social media helping others. So if Facebook will ban bitcoin, how about the other online business which are scammers, fooling people to join the collecting money to the people through Facebook even though they legit as they said. But bitcoin  is just being advertise by so many people around the world , they never collect anything but to reward them for their hard wok. It’s so unfair for the Facebook users.

[lite]

I understand they banning ICO advertisements(many ICO scams these days as been said), but why ban ads of legitimate services, this is just wrong. i hope they review their decision(as they've said) and allow advertisements of certain products and services.

[necromastery]

I'm afraid that facebook can do whatever the hell it wants, this will impact a lot of projects looking for the extra visibility on one of the largest social media sites.

True that there will be scams but this is the same for many industries that advertise on the internet, facebook will lose money but with the amount they make I can't see anyone losing sleep over it.

.       People all over the are using  social media, especiallly advertising products so easily. Bitcoin is one of them or tokens too. They are good part of social media helping others. So if Facebook will ban bitcoin, how about the other online business which are scammers, fooling people to join the collecting money to the people through Facebook even though they legit as they said. But bitcoin  is just being advertise by so many people around the world , they never collect anything but to reward them for their hard wok. It’s so unfair for the Facebook users.

Defenitely, I'm worried when the others Social Media Network also follow-up on this. It seems will be very difficult in running and promoting an ICO. Because people mostly wasting time and reading an advertisement on social media and not interested in seeing it elsewhere.

[eternalgloom]

Facebook is banning all advertisements for cryptocurrency, including Bitcoin and initial coin offerings, as part of an “intentionally broad” policy against deceptive marketers. Product management director Rob Leathern explained the decision in a blog post, saying Facebook will no longer accept ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices.” He says the decision isn’t permanent, though, and that Facebook will revisit the rules when it’s gotten better at detecting and removing bad ads.

-snip-

From what I see, the decision to bans all ads related to cryptos is because Facebook has its own problems to detect which one is legit which one is a fraud. Hence, they should fix it asap I guess.

Yeah, I can understand that they're having problems detecting it, but I still think it's pretty harsh to ban all crypto related ads.
That said, they can ban whatever they want on their website.

I dont think its fair, but realistically facebook cannot moderate
Crypto ads and decide what is legitimate and what isnt, hell we
ourselves gave a difficult time doing that at times.

-snip-

At least they have more resources to scrutinize their ads. I believe it is easy for them to build a specialized team to check out their ads.

It might be easy, but I doubt it's very cost efficient to just hire more people to check ads manually.

[Wheelige]

I dont think I have ever seen a crypto related ad on facebook that i thought was worth clicking on, therefore I couldnt care less. Facebook are able to do what they want with their own site and whether they are doing it out of protecting unfortunate people from the likes of bitconnect or if they are doing it to cull the heard before they start pumping their own crypto, it doesnt really matter does it? There are far better places to learn about upcoming icos or news on coins or markets or FUD.

[alexn3620]

This is a problem for those who are engaged in bounty. But I think the solution will be from this situation. How to avoid blocking?

[Zalfa_mui]

Yes I agree with you, facebook will lose if you forbid us to put bitcoin or ico ads.Crypto is very popular now, maybe the facebook will think it over before taking further action.

[mahibul49]

i read the news but they are not gonna ban all kinds of ads.they will block fake project promotion.so its not a prblm.

[xfaqs01]

the freedom of expression in facebook is limited because of this, or their main intention is to create their own cryptocurrency.

[GoldBirding]

I think this is why we need decentralized version of the web/social media so that we are not constantly at the mercy of someone else