Facebook shares fall -5% after banning Bitcoin

[Sithara007]

As far as I know, the slump in the share prices had nothing to do with Bitcoin or any other crypto-currency. The reason for the crash was a revelation that Cambridge Analytica harvested data of more than 50 million Facebook users, without the permission from these users.

[First77]

The reason for the crash was a revelation that Cambridge Analytica harvested data of more than 50 million Facebook users, without the permission from these users.

So Facebook is unsecured ? Why use facebook ??

[racebum]

FB and twitter are cesspools. twitter by a mile is worse. too much bot marketing. FB has god knows how many political bots making statements for one party or the other. twitter is flooded with scams. thousands of crypto scams are on twitter and the company does nothing about it. many are quite elaborate networks of 500+ accounts that phish noobs

[Sithara007]

The reason for the crash was a revelation that Cambridge Analytica harvested data of more than 50 million Facebook users, without the permission from these users.

So Facebook is unsecured ? Why use facebook ??

I am not using Facebook for the past 4 years. I used to spend a lot of time in uploading photos and playing various Zynga games, but later I realized that every minute spent on FB is 100% unproductive. Nowadays I spend some time in Twitter and Linkedin, but not even 2 seconds on FB.

[First77]

I am not using Facebook for the past 4 years. I used to spend a lot of time in uploading photos and playing various Zynga games, but later I realized that every minute spent on FB is 100% unproductive. Nowadays I spend some time in Twitter and Linkedin, but not even 2 seconds on FB.

I agree. Facebook looks like internet's junkyard/dumpyard. I use Twitter. Donald Trump is always on Twitter.

[Sevarchik]

Nothing bad what facebook bans ads, now moneys not going to facebook, moneys for ads go into the crypto infrastructure.
Good day to become crypto blogger

[jpespa]

Since cryptocurrency is booming nowadays, advertising is good business to earn profit and because facebook banned the crypto or ICO ads, they loss some of their profit making businesses. But I think it would not affect it so much because they are not solely dependent on cryptocurrency advertisements.

[Raimy]

As other posters have pointed out, there are other things going on at Facebook which are more likely to do with their share price going down than it does with Bitcoin advertisements; the Cambridge Analytica situation, their privacy officer leaving, just people getting sick of them and leaving the platform, etc.

[ciciliacrypto]

Cambridge analytica gate  ,well little marky  gonna play his game smartly or crash.

[First77]

Cambridge analytica gate  ,well little marky  gonna play his game smartly or crash.

There is #deleteFacebook on Twitter

[Kingofbitcoin12345]

It’s a misleading title in my opinion.. ICO crypto banning and not bitcoin.. I have heard that news few weeks ago and next is the google banning of cryptocurrency related ads.. I’m using Facebook for a daily basis and I always encounter ads in cryptocurrency,, so it means they’re just banning obvious illegitimate projects that in they’re point of view is a scammers made..

[piebeyb]

I think facebook is supposed to accept bitcoin payouts for advertising, I'm sure will grow their stocks faster at least instead of having to ban bitcoins or other cryptocurrency ads, it can surely have an adverse effect on their stocks, I hope there is a new social media created by the bitcoin community

[gabbie2010]

Obviously this  may be due to the fall out of taking the decision to ban cryptos ads by Facebook  and certainly this will reduce the daily traffic generated by Facebook, this action taken will have a consequence going by the increasing popularity and numbers of users of cryptos, I hope Facebook management will have a change of heart and returns to status quo.

[daarul50]

Some time ago I had heard that Facebook owner wanted to deepen blockchain technology to be applied by Facebook but yesterday they declared to ban advertising a crypto. The result of the ban their shares declines because their investors are actually following the investment in the form of crypto. Different if the facebook owner really supports the technology of crypto and maybe that support will boost their stock price as well. Perhaps their stock decline is an effect of their prohibition on crypto.

[stompix]

Again one hell of clickbait title

a) Facebook did not ban BTC , they banned crypto related ads
b) The share price drop is tottaly unrelated to BTC , is because of the privacy scandal and a looming FTC investigation

Cambridge analytica gate  ,well little marky  gonna play his game smartly or crash.

There is #deleteFacebook on Twitter

Ironic, isn't it?
What's next, a #deletetwitter campaign on facebook?

The result of the ban their shares declines because their investors are actually following the investment in the form of crypto. Perhaps their stock decline is an effect of their prohibition on crypto.

No, it is not.
The ban on ads was published on Jan 30.
https://www.facebook.com/business/news/new-ads-policy-improving-integrity-and-security-of-financial-product-and-services-ads



Actually there was a small increase in price on the 31 as you can see on the graph abve

[First77]

Did facebook lose 25% of its users ?

[Dudeperfect]

Trust me or don't but it is the result of a traditional centralised system where anyone can manipulate the process.  On the other hand, in a decentralized system, there is an equal amount of information accessible for everyone so we can avoid such incidents in the future. That's the reason why even the governments around the world are willing to adopt blockchain technology in multiple sectors.

[sitnibtc]

facebook banned cyrpto related ads. not bitcoin.and did this because of some scam ICOs.

[Morvarid89]

I think that is the price that facebook have to pay because they have given the wrong law for bitcoin

[sitnibtc]

This would be normal as facebook get revenue from ads, and banning cryptocurrencies in facebook will decrease their revenue. I think this was their solution to the scam ICOs flooding facebook.