[2018-03-15] Google to Ban Cryptocurrency Ads. Bitcoin Price Drops

[Vladdirescu87]

Google shocked the cryptocurrency market with its updated financial products policy. According to the announcement, the largest international corporation made up its mind to disable digital currency advertising. At the same time, the Bitcoin value keeps its previous tactics – a gradual markdown.

"We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution," Scott Spencer, Google's director of sustainable ads, told CNBC.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/google-to-ban-cryptocurrency-ads/

[LoveKamil]

All hello! Google forbade the advertisement of cryptocurrency after this course of BTC went down on 3%, and other cryptocurrencies showed that they had tumbled into the range of 2-7%. whether a course will yet fall.

[1Referee]

Every time Bitcoin drops, people automatically think it is related to negativity, but that's not the case at all. Bitcoin has been going down for quite a while now, and that basically non stop. First it was China causing the price to go down according to the media sources, then South Korea, then the SEC, and now Google - just let it go. It's a free market that depends on supply and demand, and is subject to hype, speculation, impulse buyers/sellers, etc. All these variables heavily contribute to market movements that aren't tied to a specific reason/event.

I have seen this coming from the moment Facebook did it, and that's why it doesn't surprise me. Instead, I would be surprised if Google announced that they wouldn't follow Facebook's path. People complain about early holders becoming more wealthy with the year, but do you guys even understand how that comes? It's because early holders just keep holding their coins firmly through every fud attack and correction, while noobs buy 1BTC initially, sell because of whatever fud or non event, buy back, sell, buy back, etc, to only end up with 0.15BTC due to their stupidity.

[darkangel11]

They are discriminating against BTC, that's all I have to say about their actions.
Imagine that I had a restaurant and told you that I'm not going to allow people to talk about religion in my restaurant and I won't serve priests. People would surely be protesting, saying that I'm being unreasonable. Same thing if I didn't serve homosexuals, women, and so on. I have the right to do so, but it would be unreasonable, right?
Yet google facebook and youtube are doing that every single day. They are banning stuff that is legally allowed to post and advertise!

[senne]

Google shocked the cryptocurrency market with its updated financial products policy. According to the announcement, the largest international corporation made up its mind to disable digital currency advertising. At the same time, the Bitcoin value keeps its previous tactics – a gradual markdown.

"We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution," Scott Spencer, Google's director of sustainable ads, told CNBC.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/google-to-ban-cryptocurrency-ads/

I don't know if the recent drop was due to google or not but one thing is for sure that this is not a good sign for the market. As one should be aware of that more than 70% search results happen on google and many ad help to boast the business for various ICO's. Also, it helps people to know about new companies and their plans. Basically it brings new customers in the market, and this ban can adversely affect the market.

[BitMaxz]

Actually, google is not banning cryptocurrency ads or any bitcoin-related they are just adding a policy just to prevent scam ICO's or any investment site if they can follow the proper guidelines from google they are free to advertise their crypto related website.

Days ago, I saw the electrum fake site and scam site that related in cryptocurrency so google just taking new action to prevent scammer to scam more investors.

Check this new policy this coming June https://support.google.com/adwordspolicy/answer/7648803?hl=en

and read this current policy that I think affects also cryptocurrency related https://support.google.com/adwordspolicy/answer/2464998?hl=en

So what you heard from the news are FUD better to check the policy from google.

[iram1011]

I don't think what Google did was something negative. Google adwords used to advertise ICO and exchanges in which most of them were fake or scam. Google being the most viewed search engine has the liability of not letting people get scammed. I welcome this move by Google. Regarding btc price drop, it is more influenced by other factors like G20 summit, $400 million sell off etc btc.

[d5000]

Actually, google is not banning cryptocurrency ads or any bitcoin-related they are just adding a policy just to prevent scam ICO's or any investment site if they can follow the proper guidelines from google they are free to advertise their crypto related website.
[...]
Check this new policy this coming June https://support.google.com/adwordspolicy/answer/7648803?hl=en

Well, I think unfortunately you're wrong, because if the following part in your link isn't a ban then I don't know what it is:

In addition, ads for the following will no longer be allowed to serve:

- Binary options and synonymous products
- Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)

However, I don't know what this policy restriction has to do with Christine Lagarde (mentioned in the Coinidol article), so this certainly looks like a FUD-style article meant to drive the price down.

In my opinion, the Google policy is understandable because of the many scams, but it's short-sighted. AdWords could lose market share to other platforms if cryptocurrencies become really popular. And I don't think we need these two centralized giants like the big f and G for that.

[Zicadis]

This is not the kind of news i would want to hear, these guys really mean business but the problem is this will send traffic else where were bitcoin and freely exist which these resolutions Google is undertaking.

[laurenB7742]

I don't think what Google did was something negative. Google adwords used to advertise ICO and exchanges in which most of them were fake or scam. Google being the most viewed search engine has the liability of not letting people get scammed. I welcome this move by Google. Regarding btc price drop, it is more influenced by other factors like G20 summit, $400 million sell off etc btc.

If I understand you correctly you think that G20 summit contributed in price drop? Why do you think so? I didn't read any negative news about bitcoin from G20 summit preparations. I think it is more likely that they will give green light to cryptocurrencies or should I say blockchain technology. But they will make a plan how to stop illegal activities connected to crypto. Which is not bad at all. I think G20 summit in Buenos Aires will have positive impact on price. It is too early tho. We don't have enough information yet but I strongly believe that they will not try to ban crypto trading and exchanges on global level or anything like that. They will just propose some regulations to fight money laundering.

[churrosndips]

If we really want bitcoin to mature as a currency, we should stop hodling and treat it as a currency and promote it's use in everyday transactions. I understand why people would want to get rich, however, I believe that bitcoin was intended to be a tool of exchange, where transactions happen independent of the existing controls in the current monetary system that has been biased in favor of the one percenters who are making the rest of us their "happy slaves". We may not see ourselves as slaves yet but that is what we are. Everything that we do are actually in contribution towards the ever growing wealth of the monetary powers. The same kind of mentality as the money powers has gripped bitcoin and it's not the right direction to go. Bitcoin is a way to start a new path. A way to break from the system. I hope we use our efforts to move towards that direction.

[seoincorporation]

I don't think Google banning crypto ads is bad news. To me, it is going to help people to take seriously crypto. Why? Well, because there are no ads announcing you "Buy dollars and become rich", for instance, for it will not be seen serious. Many people are skeptic about crypto just for all these spamming activities surrounding them. If you see an ad in Google praying "Buy silver and become rich", you won't probably trust it. It is not different between that and Bitcoin.
Google is just dedicated to stopping scammers and all fraudulent activities that surround the crypto world, as shit ICOs and stuff. So, in time, we will see how this is actually helping Bitcoin. The serious crypto doesn't need such kind of garbage publicity at all.
Regarding about the fall of the prices, I totally disagree as well. Cryptocurrencies are based on demand, and, even when public desitions can affect the investor's trust, they are not so important: the people who actually are inside the crypto trading and this world is not so influent by the news, for they know how this works. Of course, it has a repercussion, but not as big as many people think.
I always prefer just to relax and wait. For, sometimes, what seems to be bad is actually good.
You can read about how it can actually be good (the FB and Google banning) in here: https://www.thestreet.com/story/14525560/1/google-facebook-ban-cryptocurrency-ads-may-be-good-for-bitcoin.html
This is an article I found really interesting today and was shared in this forum in the morning. It gives another approach to the problem, a bright one, and deserves to be read.

[Stegobit]

Google just shot himself in the leg!
Cryptocurrencies and related services will grow with or without help from Google. In later case Google will just lose profit from ads.

[glowing10]

Google just shot himself in the leg!
Cryptocurrencies and related services will grow with or without help from Google. In later case Google will just lose profit from ads.

If you see in last couple of months social media is acting against it and it is not a good sign as things will now get from good to bad only as something or other will pop up and they will start banning so will things change here for bad for cryptocurrency?

[LoveKamil]

The media reported on the impending ban on advertising cryptocurrencies on Twitter, as well as other Internet giants such as Facebook and Google, and prohibit advertising crypto investments and ICO! and all of this with applying authorities! what will all this lead to? in the end they achieve.

[Xavofat]

It's easy to try and rationalise the price drops, but when the price was going up, people tried to do the exact same thing.

When the price goes down people try to look for negative news to justify it and when the price goes up people try and look for positive news to justify it, but at this point the market is largely just speculative and these events are only slightly relevant.  Small swings like this aren't worth trying to justify at all.

This decision isn't even particularly bad for Bitcoin.  If anything, it's just bad for scammers.

[Palmerson]

The media reported on the impending ban on advertising cryptocurrencies on Twitter, as well as other Internet giants such as Facebook and Google, and prohibit advertising crypto investments and ICO! and all of this with applying authorities! what will all this lead to? in the end they achieve.

This is a conspiracy. Giant companies have long seized a monopoly on the market. They have a lot of money. Why should they take part in promoting decentralization? It's in their best interest to keep it that way. If all the giants will prohibit the advertisement of ICO and cryptocurrency, we will survive. There are bitcointalk and other sites that will gladly take this part of the advertising market. But what to do with banks that will block the receipt of Fiat from cryptocurrency exchange. It seems to me that this is the main reason for the fall in the cryptocurrency market.

[Aikidoka]

That explains the sudden drop. It is not a sudden, but I thought Bitcoin was going to remain at 8k$. And now that I am in need of money, bitcoin has failed me again. First Facebook and now Google. I expected that to happen and I think it will be banned all over the social media. The governments must be paying lots of money to the media and social media. But in the end, they are not going to succeed. Bitcoin is much stronger than them.

[Gotottack]

Google shocked the cryptocurrency market with its updated financial products policy. According to the announcement, the largest international corporation made up its mind to disable digital currency advertising. At the same time, the Bitcoin value keeps its previous tactics – a gradual markdown.

"We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution," Scott Spencer, Google's director of sustainable ads, told CNBC.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/google-to-ban-cryptocurrency-ads/

Hence, the price drop yet again! I smirk about this news because this is definitely not good to us investors. With this, we will be having a hard time making known cryptos to the world for marketing (and probably acceptance) purposes. Not to mention that Google is the biggest in terms of shareholdings with a huge following which carries with it alliances with big and reputable social media companies. Nevertheless, I firmly would want to believe it will blossom in the next quarter. Bitcoin, along with all other cryptos, have not failed me yet. We just have to wait and see.

[Stegobit]

With this, we will be having a hard time making known cryptos to the world for marketing (and probably acceptance) purposes.

Cryptocurrency related projects will find alternative ways for promoting and advertising.
Look how easily online casinos in Russia bypassed gambling prohibition law - they started sponsoring movie and TV-show translations and distribution through BitTorrent trackers with their ads embedded.