Google will ban ads involving cryptocurrencies

[charlie137]

not a fan of google, but this would be for the best for the market

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[golek upo]

Such ban simply ushers crypto currency in the limelight of things.
The elites are trying to frustrate digital money since they have little or no control over
it as it is decentralized.However, what may occur in the near future is an entirely
fresh and new development of other platforms to wholly and absolutely promote
crypto currencies, digital decentralized platforms and block chain.What Google and its likes
are doing is never to be part of the success story of crypto currency that has come to stay.

I am sure it is a game of the elite banking conventional. They fear with the development of crypto that is increasingly popular. And I think, without advertising from google, the crypto remains popular.

[golek upo]

Being a crypto enthusiast, I was baffled upon reading the entire body of the subject. Why such a tech giant such as Google doesn't want cryptocurrencies be advertised? We are already in the golden age of digital economy and more people became interested as time goes by.

I read it's a moral stand against man made climate change.

Crypto currencies are wasting a lot of energy right now...

What? Crypto spends a lot of energy? What kind of energy do you mean? Precisely crypto has saved energy.
You have said something ridiculous.

[bitmover]

What? Crypto spends a lot of energy? What kind of energy do you mean? Precisely crypto has saved energy.
You have said something ridiculous.

How do you think transactions are processed in Bitcoin and Ethereum? Have you ever heard of mining?

I will try to make a one line explanation of what is mining:
Miners confirm all transactions for a little reward (paid in bitcoin). Then miners encrypt all the transactions in a block and make a hash. This hash is used in the next block. This is why it's called "blockchain".

This process consumes a lot of electricity. A lot,Bitcoin mining operations now consumes more energy than small countries. The topic is a lot controversial and polemic, as bitcoin is usually mining where energy is cheap and is produced in excess, on the other side people say it's bad for the environment, but anyway...

Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa

[ico41]

Pretty shortsighted and disappointing to see a lack of imagination - like a legislator/regulator who finds the whole subject too complicated and just wants to shut it all down.

Sure, there are scams, but that's not enough to justify a complete ban on everything "crypto-currency related".  This means if I create some software that tracks assets - not even using a blockchain - just a regular old centralized database I can't advertise on Google because it's "related" to crypto.  A LOT of things are related to crypto, which have nothing to do with scammy ICO's.  Not allowed to advertise Bitcoin T-shirts?  How about little foil-covered chocolate Bitcoins? Nope, sorry. 

Idiotic.  But that's what you do when you can't think with any kind of nuance, and the people who are in a position of making these decisions simply can't. 

[DigitalFox]

Pretty shortsighted and disappointing to see a lack of imagination - like a legislator/regulator who finds the whole subject too complicated and just wants to shut it all down.

Sure, there are scams, but that's not enough to justify a complete ban on everything "crypto-currency related".  This means if I create some software that tracks assets - not even using a blockchain - just a regular old centralized database I can't advertise on Google because it's "related" to crypto.  A LOT of things are related to crypto, which have nothing to do with scammy ICO's.  Not allowed to advertise Bitcoin T-shirts?  How about little foil-covered chocolate Bitcoins? Nope, sorry. 

Idiotic.  But that's what you do when you can't think with any kind of nuance, and the people who are in a position of making these decisions simply can't. 

It's not a ban on anything crypto related. It's just a ban on paid ads. You can still post any crypto stuff you want on your personal page.

[Soroskatona]

not a fan of google, but this would be for the best for the market

You mean banning ICO ads?
I just dont know if google will ban ALL ICO ads, or will let some quality ones through.
I mean its understandable that google will try to defend the users from low quality ICOs with hideous banners, which are likely a scam.
Or will Google just ban any form of investments which have high risks? If it bans ICOs, it would be rightous to ban any not low risk investments.

[ico41]

not a fan of google, but this would be for the best for the market

You mean banning ICO ads?
I just dont know if google will ban ALL ICO ads, or will let some quality ones through.
I mean its understandable that google will try to defend the users from low quality ICOs with hideous banners, which are likely a scam.
Or will Google just ban any form of investments which have high risks? If it bans ICOs, it would be rightous to ban any not low risk investments.

I feel like it's very broad, but I guess we will see what happens in practice. 

Here is the policy - https://support.google.com/adwordspolicy/answer/7648803?hl=en

And to quote them ...

"In addition, ads for the following will no longer be allowed to serve:
Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)"

"Including but not limited to ..." - very open-ended.  I'm definitely going to test this. Maybe the easiest way would be to resell chocolate bitcoins and try take out an ad.  Or design some clever shirt on TeeSpring. 

I don't get the wallet part - how is creating a wallet a scam?  Are all wallets scams?  Not by a longshot.  Very draconian and lame.

[ico41]

Pretty shortsighted and disappointing to see a lack of imagination - like a legislator/regulator who finds the whole subject too complicated and just wants to shut it all down.

Sure, there are scams, but that's not enough to justify a complete ban on everything "crypto-currency related".  This means if I create some software that tracks assets - not even using a blockchain - just a regular old centralized database I can't advertise on Google because it's "related" to crypto.  A LOT of things are related to crypto, which have nothing to do with scammy ICO's.  Not allowed to advertise Bitcoin T-shirts?  How about little foil-covered chocolate Bitcoins? Nope, sorry. 

Idiotic.  But that's what you do when you can't think with any kind of nuance, and the people who are in a position of making these decisions simply can't. 

It's not a ban on anything crypto related. It's just a ban on paid ads. You can still post any crypto stuff you want on your personal page.

That's probably true - which is good. Still, I know a lot of people who run their entire business on Google AdWords. What silly to me is that in the same policy change they are banning things like "Binary Options and synonymous products."  That's a very specific sector in a very wide sector - trading.  I think that makes sense - because those "binary option" trading products are 99% (or maybe even 100%) scams.  But what they are doing with the crypto space is the equivalent of "Financial Trading Products and related products, including but not limited to E-mini futures trading, Stock Trading, Options Trading, Books on Trading, and every other damned thing remotely related to trading ..."

I'm just surprised that it's coming from a company that prides itself on being smart and understanding new things.  Not anymore, apparently.

[ipanda]

due to the raising of too many trash , scam coins everyday.  this step is a good move of giant guys like google, twitter ..
hopefully it wil help to decrease the number of scammers. D

[wriizo]

I really don't know about your opinion guys, personally I think this is a good move by Google. When I type in the search bar I have seen tons and tons of cryptocurrency-related advertising which were rip-offs. I think I saw articles that also Facebook and Twitter ban those type of ads as well, which is again a big move, but a good one. It's kinda sad for the ones which were not scams, but what can you do, I think there were more frauds than legitimate and authentic sites.

[Valery_K]

Well, many hamsters ran into cryptocurrencies last autumn and then lost a lot of money, so they think it's all fraud. Now they are crying, so google and other stuff will block such ads.
Just a human stupidity.

[Dart315]

I really don't know about your opinion guys, personally I think this is a good move by Google. When I type in the search bar I have seen tons and tons of cryptocurrency-related advertising which were rip-offs. I think I saw articles that also Facebook and Twitter ban those type of ads as well, which is again a big move, but a good one. It's kinda sad for the ones which were not scams, but what can you do, I think there were more frauds than legitimate and authentic sites.

Sad that you're supporting Google's policy. They just banning rivals, I don't see any good intentions behind the ban.

Well, many hamsters ran into cryptocurrencies last autumn and then lost a lot of money, so they think it's all fraud. Now they are crying, so google and other stuff will block such ads.
Just a human stupidity.

Very true. A human stupidity and profits that Google going to reap with their blockchain projects behind the ban.

[LancienMaleAlpha]

I personally also dont understand such moves from big companies.
The thing is that cryptos are surely have a great potential and will surely develop more and more.
That is why I cant understand Google's decision. But I think, time will pass and google will unban cryptos, that is for sure

[makked]

too expensive for google ads anyways.

[Udrujex]

you can use cloaking and everything will be ok

[IMAR]

I hope this will not happen. The only people or project that should be banned are those illegitimate projects. The only problem is how facebook or google could find out if the project is legit or not.  I just hope that there will be a governing body for the ICO's or the cryptocurrency market to really check the legitimacy of the company and people behind it.

[Don_Leonardo]

After a long day at work, it became a habit for me to read news just to be informative on what's happening around. Then I bumped into this interested topic which came from our local news website.

Being a crypto enthusiast, I was baffled upon reading the entire body of the subject. Why such a tech giant such as Google doesn't want cryptocurrencies be advertised? We are already in the golden age of digital economy and more people became interested as time goes by.

"As per Alphabet Inc's Google, they will shutdown ads that contains cryptocurrencies this coming June.

The new policy implemented will ban advertisement that are unregulated or speculative financial products.

They (Google) want to improve the ads experience across the web, and crypto related ads has become more harmful and intrusive to the market.

Even Facebook already announced to ban ICO's, it will be implemented across all platforms including Instagram"
_________________________________________________________

Source: http://news.abs-cbn.com/business/03/14/18/google-to-ban-ads-on-cryptocurrencies-related-products

In my opinion, Google is simply afraid of the blockchain competitors. Especially when these projects have been openly declared they'll eat Google  For example, BitClave. They're building a decentralized monetized search engine. And they claim they'll beat Google in the future.

[jumbo]

I've recently came across this article, where they are analyzing the future outcomes of this ban.

https://www.thesoholoft.com/single-post/2018/04/04/Internet-Company-Google-Takes-Cue-From-Regulatory-Authorities-on-Crypto-Crackdown

It is not purely scientific, but it actually has some good quotes, like this one from Bojan Oremuz, CEO and founder of Emmares:

"This move was supposedly triggered by many scams and untruthful ICOs that were harming their users. I agree that ads using sentences like ‘use your retirement funds to buy Bitcoin’ are not appropriate and are misleading various and in many cases the most vulnerable segments.”

Also, there is an article on what we shall do in order to better integrate ICOs into the modern investment industry landscape:

https://steemit.com/ico/@evp/google-crackdown-on-the-crypto

It is clear to me, that there will appear new ways to promote your ICOs, such as creating less harmful ads with no direct link to the cryptocurrency or without any investment opportunity rhetoric. The Wild West of ICOs is coming down for a good, there are some good signals to grow up and start reforming the industry, not just abusing the new tools to get a quick buck.

As much as I agree, that many ICOs have no malicious intent, there had to appear a way, to oppose and discourage anyone coming into this field to harm people. Otherwise there appears a legal and a moral problem of becoming an accessory to a crime.

ICO industry crowd is more than capable of creating standards and methods to self-regulate and to comply with basic society requirements to better integrate with it.

[DefDope66]

It's hard to know what goes through the minds at Google. It seems they like to get on a mighty large moral high horse. In addition to the crypto ban, they also recently announced a forthcoming ban on bail bonds. Why? "Studies show that for-profit bail bond providers make most of their revenue from communities of color and low-income neighborhoods..." I doubt this ban will have little effect on the bail bondsman business, just as I believe it will have little impact on cryptos and ICOs.

Now there are reports that Facebook has had its own interest in cryptocurrency. https://www.zerohedge.com/news/2018-05-11/real-reason-why-facebook-banned-all-crypto-ads.

So, where does Google's real interest lie? Is an ICO/crypto advertising ban a moral stand or are they protecting their own interests?