Facebook Is Banning Ads for Bitcoin and ICOs

[MainIbem]

Initially I didn't believe the news until I read from CCN. It is quite unfortunate for Facebook to take such a decision. However, the spate of scam ICOs which is one the reasons for the ban should be condemned by all.

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[WhichIsGood]

https://www.coindesk.com/facebook-banning-advertisements-bitcoin-icos/


"Social media giant Facebook has unveiled a new policy that bans advertisements involving bitcoin and initial coin offerings, among others..."

An interestingly good move from facebook i suppose. Limiting ICOs from taking advantage of doing advertisements to a wider range of people. Too many ICOs popping out of nowhere every year, that you would have a hard time discerning the legit ones from scams.

[npredtorch]

Initially I didn't believe the news until I read from CCN. It is quite unfortunate for Facebook to take such a decision. However, the spate of scam ICOs which is one the reasons for the ban should be condemned by all.

It is not just about the ICO's I guess. Even the facebook group feature itself was abused to conduct crypto scams.
The operations starts with as little as a bitcoin contribution scheme and as large as a HYIP.

Looks like Facebook doesn't want to participate anymore on cryptocurrencies. (even in a mere advertising)

[jayco25]

I already read the press release regarding press release of Facebook regarding Advertisement of ICO and other related to Digital Currency. I dont know if also prohibited to post regarding ICO if yes all facebook bounty will abolish also or they only banning is paid Advertisement

[Janademir4]

why facebook to act like that? I think ad's ICO does not hurt facebook is it? maybe even profitable for facebook

[winyau8888]

Let's look it with conspiracy view...
Mark once said he will consider the tech behind Bitcoin, that's mean he is intrested in blockchain. However, I think he is blocking the ads which is the powerful way to make him he buy in low. That's what I decode.
Believe it or not! 

[Btc_1856]

https://www.coindesk.com/facebook-banning-advertisements-bitcoin-icos/


"Social media giant Facebook has unveiled a new policy that bans advertisements involving bitcoin and initial coin offerings, among others..."

IT is not good news for us, and it will adversely affect Bitcoin in the future. But I appreciate the new FB policies if you notice I have a lot of fraudulent ICO projects that are advertised on the FB so many people become victims of scammers.

Only because of that they want to control the flow of people investing because Facebook charges only little amount of money compared to ICO listing websites. Ico websites are doing background verification before listing. So scammers are choosing Facebook for advertising.

[levvv]

I think facebook ban advertising because too many ICO's in this years.
Too many ICO advertisement maybe considered as a spam.
But it is not a problem, investing in ICO can make you return 10x++ of your investment !!
I wonder why they ban it.

[zenrol28]

This is a wise move from FB. They really know their market. They know people with less knowledge uses their platform. So to stop the counts of casualties from increasing they made that move. It is good to stop those scams that stained the image of bitcoin. In time, they might screen first these kind of ads before airing in FB. This might slow down people's awareness to bitcoin but it is better than having a bad reputation because of those scams. And also there are many ways to promote bitcoin. Actual usage of bitcoin in everyday will be the best.

[John (John K.)]

About time this happened, actually. I've been seeing all sorts of sketchy ICO's being advertised in my newsfeed, and it's starting to be quite unbearable.

[Geoll29]

This is bad news for us. Facebook is really known for its strict policy on ads. That's because facebook was built for social networking and not for business ads. But I can still see bitcoin ads in some facebook groups. Maybe they aren't yet fully strict as of the moment.

[Ikay]

I think if they banned the ads about bitcoins and the ico's that connect with facebook they lose 20-30%% of capacity of consumers that gaining a highly paid through ico and adds about bitcoin because of that company facebook is being socialize and spread the knowledge about the digital money and it helps. Why facebook banned it. They ideas was good but its not enough to banned it with the wise moved like that.

[Sasuke102001]

If they are banning the ads that keep popping up in the middle of the screen but if they are banning posts advertising bitcoin and ICO then that maybe not good for many of us here because many of us join social media bounties for Facebook and Twitter and if Facebook book bans advertisements for Bitcoin and ICO's people won't be able to join Facebook bounty campaigns.

[Yarsk]

Facebook is a great tool which can be use either negatively or positively, what I have notice is some ICOs advertising on Facebook promising huge rewards and even going as far as telling they potential customers that they are going to reach certain amount in so so time which is wrong. No good ICOs can correctly tell you the amount the coin is going to be at a certain time because they all understand how volatile the cryptocurrencies market is. But if not on this bases that Facebook ban ads and others of Facebook then Facebook should be ready to loose a lot of it users

[Ukaraki]

I think one of the reasons is that these ICOs are really enticing and promises big returns. Most of of them are lending platforms that encourages beginners to invest.

I think these decisions are wrong when facebook bans all ads related to Bitcoin, and this is probably due to investors subjective to the ads or not profitable.
  For Facebook, in my opinion, facebook hand heavy with Bitcoin and cause damage to Bitcoin because advertising on Facebook will have more followers and interest.

[Mystica101]

A giant social media like facebook banning crypto will only lead to production of new social media platform in the future where new projects and ICO can freely promote and advertise their project. The CEO is just taking extra safety precautions for all of his users to not be a victim of scam but on the other hand Im quite sure twitter will be more famous and more users will get involved and lots of crypto people prefer twitter so I think its not a major loss.

[Angi]

This is big trouble to us bitcoiners if this is aprove by facebook. How bitcoin being more popular if they banned advertising of bitcoin and all other coin for the nonsense accusations. It will big trouble to facebook too because they have also profit from the adds about bitcoin and all other coins that will rise and get more popular through  facebook. If they banned it what will happen to the big investors that will use facebook to know more about bitcoins.

[virendarnagpal]

It is true that the social media giant Facebook is planning and about to announce a ban on advertising promotional ads relating to crypto currency.  As per the information the Facebook has taken this decision because of a large number of scams committed by some initial coin offerings and speculations during the last few months.

Facebook announced that they have 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.

Because of some cheaters found in the market; honest dealers will also have to face the loss without such a big platform like Facebook.  But people will definitely find other platforms and switch over to those alternate platforms.  

[ibininja]

It is true that the social media giant Facebook is planning and about to announce a ban on advertising promotional ads relating to crypto currency.  As per the information the Facebook has taken this decision because of a large number of scams committed by some initial coin offerings and speculations during the last few months.

Facebook announced that they have 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.

Because of some cheaters found in the market; honest dealers will also have to face the loss without such a big platform like Facebook.  But people will definitely find other platforms and switch over to those alternate platforms.  

I think it could have been regulated instead of a banned. I understand the fear and complaints from facebook users being spammed and conned; maybe it is a wise move to ban for now until something is figured out or a plan put in place. As a marketing decision they want to reflect protection of their users as a business decision it is a revenue channels lost I guess. Again this is just an opinion stated without knowing the full details.

[viramarket]

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