[2019-05-08]Facebook stops blocking some blockchain ads

[vit05]

https://techcrunch.com/2019/05/08/facebook-blockchain-ad-ban/

Facebook still won’t let you advertise for ICOs or binaries, and ads for cryptocurrencies and exchanges need prior approval. But a year after banning all blockchain-related ads, it’s reopening to ones for “blockchain technology, industry news, education or events related to cryptocurrency” without the need for pre-approval.

The change could be a boon to an industry struggling for mainstream attention in the wake of the 2018 cryptocurrency price collapse that soured much of the public on the financial technology. Blockchain events were especially hit hard since Facebook’s local and interest targeting capabilities made it ideal for selling tickets to potential attendees.

Facebook’s  goal was to prevent users from getting scammed by Initial Coin Offerings and other cryptocurrency deals where providers had little to no accountability. In January 2018 at the height of the crypto craze, it blocked all blockchain related ads. In June 2018 it began allowing some if they received pre-approval.

When Facebook users get scammed, they don’t just blame the scammer but the social network too. Facebook initially cast a wide net in its ban to prevent this. Users began seeing ads for blockchain education yesterday.

Additionally, beginning June 5th, Facebook will ban ads for “promoting contracts for difference (CFDs), complex financial products that are often associated with predatory behavior. These products, due to their complexity, often mislead people.”

The news comes as more info on Facebook’s own blockchain group trickles out. Bloomberg’s Julie Verhage reports it now has more than 50 employees, one-fifth hailing from PayPal, where Facebook Blockchain’s head David Marcus was formerly president. They’re working on a stablecoin, potentially pegged to a bundle of currencies Facebook is trying to raise from outside investors in order to keep its cryptocurrency’s price stable.

Facebook’s stablecoin could allow zero-fee remittance to friends or family across borders or payments to merchants without traditional credit card processing fees, as we predicted last year. To that end, hiring PayPal talent makes sense. They already built a nearly ubiquitous checkout option for e-commerce. But because they act as a middleman for the money and assume some risk of fraud, PayPal charges fees on insured payments to merchants. Facebook could undercut those fees by using blockchain technology to instantly transfer value between accounts.


Gradually, the winds are all changing in relation to Bitcoin and cryptocurrencies. The possibility of a bull run is more and more real.

[Slow death]

Facebook’s  goal was to prevent users from getting scammed by Initial Coin Offerings...

unfortunately they are right, looking at this:

Bit-Paradise - FAKE TEAM

Localcoin.is - Plagiarized Whitepaper

QUEENXCHAIN - SCAM - FAKE TEAM MEMBER

Nitrotoken SCAM - Fake Team/stealing people's identity + Plagiarized Whitepaper

the situation only gets worse

[LeGaulois]

"Facebook stops blocking some blockchain ads"
Now we're gonna see for many weeks people posting that Facebook will soon create its coin  

There are truly some good projects around the blockchain technology but outside cryptos. Pharma, supply, energy, military defence, smart cities and so on...
A lot of different things to learn and people to talk, forget the shit ICOs, real blockchain development isn't in crypto, not even in Bitcoin.

[o_e_l_e_o]

Facebook’s  goal was to prevent users from getting scammed by Initial Coin Offerings...

unfortunately they are right, looking at this:

Can't blame them, really.

I don't use Facebook, but (completely anecdotally, I know) in my experience the people/friends/colleagues I know in real life who are always glued to their phones using Facebook and other social media sites are also the ones who are probably most likely to fall for a scam ICO and send their money to a complete stranger with no due diligence. Perhaps they could look at banning users taking financial advice from a Facebook advert.

[vit05]

Facebook’s  goal was to prevent users from getting scammed by Initial Coin Offerings...

unfortunately they are right, looking at this:

Bit-Paradise - FAKE TEAM

Localcoin.is - Plagiarized Whitepaper

QUEENXCHAIN - SCAM - FAKE TEAM MEMBER

Nitrotoken SCAM - Fake Team/stealing people's identity + Plagiarized Whitepaper

the situation only gets worse

There are tons of scams involving any kind of business. There are people that send money to stores that do not exists or to fake banks. Facebook should have a proper team to investigate those business.

[buwaytress]

Keep shifting their policy, but yeah I suppose when you're about to launch your own shitcoin, you got to maintain some semblance of free and fair competition. Zuckerberg really can't afford to appear in front of another inquest and show the public how quite unpolished he really is, now can he?

Should take a cue from this forum's ad policy

[shamc]

If their goal was just to protect against icon fraud then they should still allow bitcoin adverts and other proven coins that don't require an ico

[LeGaulois]

If their goal was just to protect against icon fraud then they should still allow bitcoin adverts and other proven coins that don't require an ico

So, that would mean anyone can advertise a scam as long it's related to Bitcoin. With people imagination today it's surely quite easy when you see the IQ level on Facebook They only know about funny cats videos and spread the wickedness behind a keyboard.
By saying FB will allow some blockchain ads I bet it will be ads related to services (wallets/cards/exchanges whatever) and blockchain projects like I described above. And projects can stop to use the ICO model to come back to something more traditional like a crowdfunding platform.

[veleten]

so Facebook realized that they threw the baby out with the bath water
if their main goal was to fight scam ICOs and to prevent people to get into the shady projects ,
they should have had better  screening process rather than banning all cryptorelated ads alltogether
and yes , seeing their potential centralized shitcoin launch , they did the right thing - would have been funny if they could not advertise it on their own  

[hatshepsut93]

Keep shifting their policy, but yeah I suppose when you're about to launch your own shitcoin, you got to maintain some semblance of free and fair competition. Zuckerberg really can't afford to appear in front of another inquest and show the public how quite unpolished he really is, now can he?

Should take a cue from this forum's ad policy

It's not only about competion, but they are also trying to improve the reputation of crypto, no longer treating it all as a scam, simply because they are going to roll out their own solution eventually. I'm curious if they are genuinely trying to build something interesting, or are they simply trying to boost their stock by claiming that they will use buzzword technology. Anyway, I don't use Facebook, and anyone who uses it should really consider dropping it, there is so much wrong with it. At it's core Facebook represents the paradigm that is directly opposed to crypto.

[rodel caling]

Oh yeah great news, firstly facebook management knows how much blockchain important specially in the world of crypto currency.
Correct me if I am wrong the decision of management to stop blocking blockchain crypto related advertising in facebook because they also use this site to,advertise their own token (fb token).

[davidtld]

Thats weird cause they re still blocking my coin adds, and im not promoting ICOs or anything. Its just a news website.

[hugeblack]

I do not know why some are annoyed by this, I do not think BTC needs publicity ads posters.
So Facebook's ads will often be heavily targeted by some new shitcoins or ICOs, which is a 99,99999999% scam.
Do not forget the impact of Facebook so I expect to tighten the restrictions on advertising, especially after what happened in the US elections.

We have reached what we are without advertising from Facebook so we do not need it in the future.

[Siren]

Oh yeah great news, firstly facebook management knows how much blockchain important specially in the world of crypto currency.
Correct me if I am wrong the decision of management to stop blocking blockchain crypto related advertising in facebook because they also use this site to,advertise their own token (fb token).

Well as what LeGaulois says here

Now we're gonna see for many weeks people posting that Facebook will soon create its coin 

Means there still no concrete evidence that Facebook is creating their own coins

Though I’m still looking about those other post that prove about FBcoin yet nothing goes in real till now

Thats weird cause they re still blocking my coin adds, and im not promoting ICOs or anything. Its just a news website.

Then that’s really weird since I thought the banning is for ICO related topics only

[davis196]

It's common sense that when someone buys traffic,he has to make return of investment(ROI) from that traffic.How can blockchain education platforms monetize Facebook traffic without falling into the "crypto-scam" stereotype?Perhaps the FB guys realized that they are losing ad revenue due to the rapid growth of the crypto industry.