[2018-01-31] Facebook Ban is a Good Thing for Crypto

[tokenzone]

The move is a good one for cryptocurrency and the industry in general. Facebook has been a hotbed of scams and duplicitous activity which seems to have run unchecked for months leading many into losing their cash.

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[Slow death]

The move is a good one for cryptocurrency and the industry in general.

There are so many websites and forums, why the hell do people waste time posting referral link of ICOs? I know that these people earn commissions, but these people are destroying the little good image that ICOs have.

Facebook has been a hotbed of scams and duplicitous activity which seems to have run unchecked for months leading many into losing their cash.

Many people posted links to double bitcoin sites and like I said ICO links, but here's something that those FB's are forgetting: Hyip/ Ponzi sites... yes, Hyip/Ponzi sites are full in FB and I did not see the FB to take action on this, so why are they taking action against crypto and letting the hyip / ponzi sites continue on FB?

[tokenzone]

The move is a good one for cryptocurrency and the industry in general.

There are so many websites and forums, why the hell do people waste time posting referral link of ICOs? I know that these people earn commissions, but these people are destroying the little good image that ICOs have.

Facebook has been a hotbed of scams and duplicitous activity which seems to have run unchecked for months leading many into losing their cash.

Many people posted links to double bitcoin sites and like I said ICO links, but here's something that those FB's are forgetting: Hyip/ Ponzi sites... yes, Hyip/Ponzi sites are full in FB and I did not see the FB to take action on this, so why are they taking action against crypto and letting the hyip / ponzi sites continue on FB?

Yes, you are right. By the way, Google plans to ban ICO and Cryptocurrency advertising as well. This information is being checked. What do you think of this?

[jseverson]

Many people posted links to double bitcoin sites and like I said ICO links, but here's something that those FB's are forgetting: Hyip/ Ponzi sites... yes, Hyip/Ponzi sites are full in FB and I did not see the FB to take action on this, so why are they taking action against crypto and letting the hyip / ponzi sites continue on FB?

I'm sure those are next. Facebook is currently under fire as its negative impacts to society comes to light, and they're trying to clean house. They also made changes to how ads are integrated in the news feed, in a way where they're not as visible, if I'm not mistaken.

HYIP and ponzis are harder to tackle because they don't fall under any "blanket industries" unlike the scammy ICO and crypto ads that seem to be all over. I don't necessarily agree with the blanket ban, but less scams seeing daylight is something I am completely in support of. Hopefully they'll take a healthy middle approach later on.

[Kronos21]

Facebook is only a platform for communication between people. The content is the responsibility of the people themselves. It is wrong to blame the mirror for a bad image. Scammers are everywhere. This forum is no exception. People need to be careful always and everywhere. Bans never solve the problem.

[Hell-raiser]

The move is a good one for cryptocurrency and the industry in general.

There are so many websites and forums, why the hell do people waste time posting referral link of ICOs? I know that these people earn commissions, but these people are destroying the little good image that ICOs have.

Let me be a little harsh or even rude here. The answer is ICO managers are either morons or they are running deliberate scams. You choose which. People who post their links get paid obviously, so we can't really blame them for what they do. But the case is they will likely get fooled in the end as well because they either won't receive anything or will receive useless tokens. I agree that they are doing great disservice to legitimate ICOs but they don't care, which is understandable.

[Theb]

The title is quiet a misleading one as not all ICO and cryptocurrency ads as they will only ban Cryptos that deems to be “financial products and services frequently associated with misleading or deceptive promotional practices.” as obviously they are only avoiding the probabiloty that these certain ICOs will turn out to be a scam.

On a Legal Perspective
This move created by Facebook is also for them to avoid any legal accusation that will be filed against them and of course it will lead them to losing millions of dollars for the lawsuit.

[FrueGreads]

On a Legal Perspective
This move created by Facebook is also for them to avoid any legal accusation that will be filed against them and of course it will lead them to losing millions of dollars for the lawsuit.

I think this is probably the main reason behind it. They probably would not have a lot of problems, but like we've seen with the bitconnect case, the promoters of that scam coin are also being filed with some law suits. Probably won't lead anywhere, but Facebook is better off avoiding a scandal. Even though they are probably acting on self interest, I really like the move, because it will definitely help scams get a little more contained.

[CyberKuro]

And some people misinformed thought facebook ban cryptocurrency, have seen a thread discuss about it. Yes, it's a good thing as too many ads lead to scam or fraudulent sites, even if the website is clearly a copycat. There should be a system developed to check whether it's really a legit product/service to be advertised, even report a fraudulent website to google takes a long time for them to close the ads. But, it's a good thing to ban ICO ads as most ICO are unpredictable and ended with a mass loss.

[cybersofts]

The move is a good one for cryptocurrency and the industry in general.

There are so many websites and forums, why the hell do people waste time posting referral link of ICOs? I know that these people earn commissions, but these people are destroying the little good image that ICOs have.

Facebook has been a hotbed of scams and duplicitous activity which seems to have run unchecked for months leading many into losing their cash.

Many people posted links to double bitcoin sites and like I said ICO links, but here's something that those FB's are forgetting: Hyip/ Ponzi sites... yes, Hyip/Ponzi sites are full in FB and I did not see the FB to take action on this, so why are they taking action against crypto and letting the hyip / ponzi sites continue on FB?

Yes, you are right. By the way, Google plans to ban ICO and Cryptocurrency advertising as well. This information is being checked. What do you think of this?

The BitConnect's effect!!! BitConnect, The Billionaire Coin, and the coins alike (Scams/Ponzi) are tarnishing the image of cryptocurrencies. Social media sites such as Facebook are getting bombarded with many shitcoins (Scams) and ICO promotions. With the current Bitconnect situation, the Facebook must implement new rules regarding the ICOs and cryptocurrency promotions.