[2018-03-14] Google Bans Cryptocurrency ADS, but Bitcoin Not Affected

[FollowSynergy]

Following in the footsteps of Facebook, Google has announced it will ban cryptocurrency and initial coin offering (ICO) promotional material from its ad platform.

Google Cracks Down on Sketchy ICOS & Crypto ADS

Alphabet Inc.’s Google explained the new policy will go into effect in June of this year, affecting its search engine, advertisements on YouTube, and and its display-ads network.

Google’s crackdown is intended mainly to “prevent consumer harm” and follows Facebook, which adopted a similar policy in late January.

Google’s announcement reads:

"This year, we updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs)."

The number of misleading and malicious advertising, including payday loan ads, ads that intentionally look like system errors, and so-called ‘fake news’ ads, has increased dramatically in recent years, according to a recent ‘bad ads’ report.

“In 2017, we took down more than 3.2 billion ads that violated our advertising policies,” wrote Scott Spencer, Google’s director of sustainable ads, in a blog post Tuesday.

This is an average of 100 ads per second and almost double the number from 2016 of 1.7 billion ads, which also dwarfed the previous figure of 780 million in 2015.

Additionally, Google took down over 130 million ads in 2017 where hackers inserted code to mine for cryptocurrencies, such as Monero, a practice that’s quickly rising in popularity among cyber criminals.

Full article: http://bitcoinist.com/google-ban-cryptocurrency-ads-bitcoin-not-affected/

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[EPICA Token]

That was pretty obvious move - there are too many fraud schemes about ICO nowdays. Finally there will be more quality ads on websites.
Here is the full Google article as well - https://support.google.com/adwordspolicy/answer/7648803?hl=en&ref_topic=29265

[BitHodler]

It doesn't really affect Bitcoin itself, but it will somewhat affect legitimate services trying to market themselves. On the other hand, the main crypto forums will more than ever become the place to be to market themselves.

I for that reason expect a serious increase in demand for forum ad slots in the coming years, especially with how more social media platforms will act in a similar fashion. First Facebook, and now Google.

Positive thing is that scams won't be as easy to find as they were previously, and with how theymos doesn't allow ICOs to participate in the ad slot auctions anymore, things will change dramatically in the long run.

If theymos even prevents ICOs from hosting signature campaigns on this forum, the change will be felt even sooner.

[richardsNY]

Bitcoin doesn't need advertising, shitty altcoins do. It has gone even so far, that "developers" fork Bitcoin to lift their brand, because without that, no one aside from a few noobs would be interested. I don't think much will happen to stop scams, but as BitHodler pointed out, this forum might be playing an important role as well when it comes to preventing shitcoin projects to advertise their garbage here. This is Bitcointalk after all, and not Crapcointalk. I understand that economically, Theymos will not get rid of altcoins, but acting more accordingly against ICO's would be a nice gesture. It has gone too far now....

[aso118]

Bitcoin does not need advertising, but it does benefit indirectly from cryptocurrency advertisements. You must be living under a rock if you don't know about Bitcoin (but there could be a few like that). Those who see a lot of cryptocurrency ads might feel curious and end up buying bitcoins.  That is why the market sentiment has turned negative and the price is tending lower.