why the facebook, google are banning cryptocurrency?

[pinggoki]

Bitcoin continues to be pounded by negative news. Unconfirmed reports about Twitter following the footsteps of Facebook and Google in banning cryptocurrency ads pushed Bitcoin’s price below $8,000 on March 18.

I don't think social media like facebook and twitter forbid bitcoin because I can still see few ICO advertisement and even in google. However, if it is true that those website banned this crypto maybe because bitcoin becomes notorious due to scammers. Here in our country there are few people who have been scam in crypto and because of this bad people the image of bitcoin is becoming worst.

[Hans17]

Bitcoin continues to be pounded by negative news. Unconfirmed reports about Twitter following the footsteps of Facebook and Google in banning cryptocurrency ads pushed Bitcoin’s price below $8,000 on March 18.

Well they ban crypto ads because of the one reason and it's about the virus that they will get and lot of ads consist an spam message and some are just a scam. They wanted to reduce it by the help of banning and not all are ban only the legit.

[3lyntio]

Social media platforms have recently banned advertising for cryptocurrencies and ICOs, but that stance is contradictory to the thoughts of their directors.

In January, the social network giant Facebook outlawed cryptocurrency related advertising in an effort to protect users from various ICO scams, fraudulent token sales, Ponzi schemes and the likes.

It has set a precedent that is now being followed by other platforms and service - but this disparaging move is at odds with the sentiments of the heads of these businesses.

The people responsible for the creation of social media platforms like Facebook and Twitter have been singing praises for cryptocurrencies and their underlying Blockchain technology.

It creates a bit of a juxtaposition, as the companies they are responsible have enforced sanctions that potentially stifle the adoption and development of Blockchain.

In order to unpack this disconnect, let’s take a look at what the likes of Facebook co-founder Mark Zuckerberg and Twitter CEO Jack Dorsey think about the developing technology.

Facebook and Instagram
At the beginning of 2018, Facebook co-founder Mark Zuckerberg made some positive comments about cryptocurrencies in a post on Facebook. He focused on the potential benefits they have for businesses like Facebook, as well as the power they hand back to people.

He honed in on an issue that is becoming increasingly talked about – centralization versus decentralization. As CNBC reported, Facebook was in the spotlight for a number of negative issues mainly related to its ad-services and their capabilities.

"There are important counter-trends to this, like encryption and cryptocurrency, that take power from centralized systems and put it back into people's hands. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services."

No more than two weeks later, Facebook announced that it would prohibit cryptocurrency related advertising on the platform, which was met with varying reactions from the wider cryptocurrency community.

Fast forward three months and Facebook was embroiled in one of the biggest scandals since its inception. In essence, the platform supplied personal data from over 50 mln users to political consulting firm Cambridge Analytica.

Zuckerberg took to Facebook to admit the company had made ‘mistakes’ while outlining what had led to Cambridge Analytica access to data from Facebook users. He has since taken out adverts in British newspapers to make a public apology, while Facebook has been hit with a swathe of lawsuits.

In an interview with CNN last week, Zuckerberg even suggested that Facebook could benefit from regulation - an issue that is hanging heavily over cryptocurrencies and ICOs this year:

“I’m actually not sure we shouldn’t be regulated. In general, technology is an increasingly important trend in the world and I actually think the question should be ‘what is the right regulation rather than ‘yes or no, should it be regulated.”

“On the basic side, there are things like ads transparency regulation that I would love to see. If you look at how much regulation there is around advertising on TV and in print, it's just not clear why there should be less on the internet, you should have the same level of transparency required.”

Meanwhile one of the primary attributes of Bitcoin and other cryptocurrencies is the ability to encrypt data giving anonymity and privacy to users.

Facebook’s move to ban cryptocurrency related advertising also applied to partner platforms Instagram and its advertising platform Audience Network.

[annango]

Bitcoin continues to be pounded by negative news. Unconfirmed reports about Twitter following the footsteps of Facebook and Google in banning cryptocurrency ads pushed Bitcoin’s price below $8,000 on March 18.

Google, Facebook and Twitter banned cryptocurrency ads mustn't be main reason which made Bitcoin's price goes down $8,000. Many people think that Google, Facebook and Twitter banned cryptocurrency but in fact they only banned "cryptocurrency ads". Why? As far as we saw all good cryptocurrencies don't need to run ads in Google, Facebook or twitter or very little. Scam ICOs, phishing sites need to run ads to attractive investors. I think Google, Facebook or twitter ban cryptocurrency ads is better for the crypto market.

[South Park]

Bitcoin continues to be pounded by negative news. Unconfirmed reports about Twitter following the footsteps of Facebook and Google in banning cryptocurrency ads pushed Bitcoin’s price below $8,000 on March 18.

Most likely, such prohibitions occur in the framework of the attack on bitcoins and other crypto currency, which has been going on for about three months. It is unlikely that such prohibitions occur one after another spontaneously and accidentally. However, facebook and google explain their position by combating fraud in these social networks. How does it actually show time.

The fact that all of this is happening basically at the same time is very suspicious, it is very clear that there is an attempt to get the price of bitcoin as low as possible, the price of bitcoin has brought a lot of attention by the media and that is something that the government does not want they do not want the people to think that there is an alternative to their system and so they're suppressing the price of bitcoin.

[darewaller]

Bitcoin continues to be pounded by negative news. Unconfirmed reports about Twitter following the footsteps of Facebook and Google in banning cryptocurrency ads pushed Bitcoin’s price below $8,000 on March 18.

Firstly, they did not ban cryptocurrency, they banned cryptocurrency adverts and you guys should always know how to put your topic or headline first before misleading people. They cannot ban cryptocurrency apparently, so I do not know what the whole fuss is all about. They all stated it that it is as a result of the whole scam going on in the whole cryptocurrency ICO space which the adverts are being used to deceive a lot of investors, and I do not see anything bad in what they have done.

the price of bitcoin has brought a lot of attention by the media and that is something that the government does not want they do not want the people to think that there is an alternative to their system and so they're suppressing the price of bitcoin.

Very much possible. Government and central banks are opening all the possible ways to dump bitcoin prices I am not sure that they will succeed with their attempts but as of now bitcoin prices are facing lots of pressures due to these kind of things.

[MD Milon]

At first,they are not banning cryptocurrency.they bann only ICO ads.reason of lots of fake ICO Add in social media.many people think social media bann cryptocurrency,but its not true.also government cannot consider bitcoin as a alternative currency.

[Jr.robert]

I think these Ads attack on Crypto.

[mpetyunov10]

Google announced that it will prohibit advertising of crypto currency on all its platforms. The company said that it is updating its advertising policy related to financial services. According to Google, the content they want to ban includes ICO, wallets and advice on trading.
In its news the company made it clear that, although the Crypto currency can be an adequate asset for consumers in the future, now they see evidence that the market has hurt many people. As a result, in order to protect its users, it officially began to prohibit advertising related to the crypto-currency industry as a whole. In a statement, Scott Spencer, director of advertising at Google, told CNBC:
"We do not have a crystal ball to know what the future is for crypto currencies, but we have seen how some crypto currencies have been brought to consumers. This is the very area to which you should promote with extreme caution. "

[mktcoin]

The banking system puts pressure on cryptocurrencies. I have no doubt that they were pressured from above.

[1Referee]

The banking system puts pressure on cryptocurrencies. I have no doubt that they were pressured from above.

In some cases it's well justified to blame banks for their actions, but there is no point into putting them in every picture when completely opposite industries force through changes. In this case the legal responsibilities of displaying these ads, and the pressure from multinationals buying ad space on social media sites did it. If banks are really out to make things impossible for people, then they will prevent people from buying crypto through debit cards, which should function as indicator. If banks decide for you what you can spend your money on, you should immediately ditch that bank. I already did so once.

[davinchi]

I don't think social media like facebook and twitter forbid bitcoin because I can still see few ICO advertisement and even in google. However, if it is true that those website banned this crypto maybe because bitcoin becomes notorious due to scammers. Here in our country there are few people who have been scam in crypto and because of this bad people the image of bitcoin is becoming worst.

As long as you can get verified and show to them you are legitimate, then you can still run an advert, this is the reason some of them are still on. It is just that a lot of new investors are always fund of picking the headline just as the type OP dropped with Facebook and Google banning cryptocurrency. How on earth will they ban cryptocurrency ? This is a good thing for ICO investors I must say, which at least gives them a rest of mind that any advert they are seeing has been fully verified not to be a scam.

[Mastsetad]

Bitcoin continues to be pounded by negative news. Unconfirmed reports about Twitter following the footsteps of Facebook and Google in banning cryptocurrency ads pushed Bitcoin’s price below $8,000 on March 18.

Who said that Google banned Bitcoin and other cryptocurrencies? 👀😳 That’s not true, Google wouldn’t ban cryptocurrency. I have seen some people saying that they did, but that’s a lie, they never banned cryptocurrencies. The only platform I know that did ban cryptocurrency ads was Facebook. As for Twitter, I don’t think they did such a thing. Facebook is the only platform that did. By the way, Google is a little different from all these ones, so I don’t think they would do the same thing as others.

[Grayy]

I just wish most bitcoin investors would neglect the negative news and talk about positive news only. It's more glamorous to ignore chastisement and criticisms sometimes; it usually makes critics wonder how strong you can be. Let's encourage each other to post more good news in bearish times. I think that will be counterproductive.

[wuvdoll]

I don't think twitter/ facebook bans are effecting the market. the bans aren't in place and won't be until June i think. to say this is dropping the market is naive. the market is being manipulated by whales and their positions on futures exchanges. plain and simple. This is why we are yo-yo'ing and smaller gains in the market when there is no real negative news

I do not even know why the OP would have to put the topic like that. These guys are not banning cryptocurrency; they are banning adverts related to cryptocurrency as long as they cannot show the legitimacy of the company and the ICO.

Some ICOs are still running on this platform and it is a way to just try as much as possible to curb out some scam ICOs for the investor’s sake, so I wonder why some people are trying to pick FUD from nothing rather than putting some efforts to find the actual happening. Not a big deal for many people to get alternate platform when we are not comfort in existing along with recent facebook's user's private data stealing problem.

[btcdevil]

Bitcoin continues to be pounded by negative news. Unconfirmed reports about Twitter following the footsteps of Facebook and Google in banning cryptocurrency ads pushed Bitcoin’s price below $8,000 on March 18.

I think their is no relation between this two news of twitter and facebook banning cryptocurrency ads and bitcoin price going down. Social media have stopped ads due to lot of scams are running due to that lot of users have got scammed but if your project is genuine then they are supporting it. Mostly the new ICO ads are banned in social media. Bitcoin price going down is a different story.

[Trollinator]

They are trying to stall the revolution. They fear that blockchain solutions will make their business model obsolete

[janaiz]

Bitcoin continues to be pounded by negative news. Unconfirmed reports about Twitter following the footsteps of Facebook and Google in banning cryptocurrency ads pushed Bitcoin’s price below $8,000 on March 18.

What I've read some post, Facebook is banning all ads that promote cryptocurrencies, including bitcoin, in an effort to prevent people from advertising what the company is calling “financial products and services frequently associated with misleading or deceptive promotional practices.”

That means no advertiser — even those that operate legal, legitimate businesses — will be able to promote things like bitcoin and other cryptocurrencies, initial coin offerings — ICOs for short — or binary options, according to a Facebook blog post.

[BitHodler]

They are trying to stall the revolution. They fear that blockchain solutions will make their business model obsolete

Nope. Instead, I'm sure they would love to continue allowing crypto services to advertise on their platform, but the legal aspect and pressure from external sources made them do this.

There is some sort of a global social media cleaning going on due to this. It has not really to do with crypto itself. YouTubers suffer from it as well, where they consider it to be the ad-pocalypse.

Everything people do and say on social media has to be according to certain shitty new policies, which is ridiculous. At some point people will only be able to talk about my little pony and Zack and Cody.

[EdenHazard]

I don't think social media like facebook and twitter forbid bitcoin because I can still see few ICO advertisement and even in google. However, if it is true that those website banned this crypto maybe because bitcoin becomes notorious due to scammers. Here in our country there are few people who have been scam in crypto and because of this bad people the image of bitcoin is becoming worst.

Probably on process, because to prohibit ads that have been done by many twitter account and facebook account is very much and need a process to do it. I have friends and he likes joining with bounty campaign with twitter. A few days ago his twitter account was not accessed due to security reasons from twitter. It might be a process to clean up cryptocurrency ads slowly.