The Hypocrisy Behind Facebook Banning Crypto Ads

[msarro]

Facebook rolls back ban on cryptocurrency ads as it ramps up its own blockchain efforts They softened the ban after facebook started its own Libra project, which is currently being stopped by US congress. Google also did the same after seeing the huge financial potential in crypto related ads.
Things will ease out for crypto with passage of time.

[Lizzylove1]

Well, Facebook may be right to some extent, some scam projects perverted different social media and defrauded innocent investors, I think this is part of the reason Facebook took a harsh step in banning. Not everyone really understand how this works and it's require they learn before investing and not blindly buying anything on social media. Although other scam projects not related to Cryptocurrency still reigns on Facebook and other social platform.

[ultrloa]

Well, Facebook may be right to some extent, some scam projects perverted different social media and defrauded innocent investors, I think this is part of the reason Facebook took a harsh step in banning. Not everyone really understand how this works and it's require they learn before investing and not blindly buying anything on social media. Although other scam projects not related to Cryptocurrency still reigns on Facebook and other social platform.

Those things really needed to face off by Facebook owner since his platform has been abused by so many scammers and it's a damage control for more upcoming scams since if they will not filter those things up for sure there are many scam victims around the world and hopefully there's something regulation comes interms on ICO and IEO so that the scams will be eliminate in the system.

[dvmmayowa]

This is what happens when a platform's operation is totally centralized, of a truth there were many scammy projects that it helped get rid of, but the fact that the banning of ads coinciding with the launch of the libra project id enough fact to prove that it was only done to favour libra only.

Blockchain os gaining more popularity over time and i am sure that over time, there'll also be decentralization of social media platforms too.

[TedMosby]

FB didn’t completely ban blockchain/cryptocurrency ads on their platform.
It’s depends on what kind of ads that you are promoting.

More info about this, you can check it here:
https://web.facebook.com/policies/ads/restricted_content/cryptocurrency_products_and_services?_rdc=1&_rdr

If you think your ads that you will publish not against the guidelines, you need to fill this special request form.
https://web.facebook.com/help/contact/532535307141067

About their cryptocurrency product (Libra), I think it’s not against their guidelines.
Why? Because they are not promoting the token sales.

[rijaljun]

However, the ban at least can hinder scam projects from getting people's money, especially those who don't really understand about cryptocurrency.

For me it's more to save their users from falling to scam than becoming hypocrite.

[Bezobraznike]

   I think it's just a business, Facebook makes money from adds too! Banning crypto-advertising is their move to stop private marketing
from their users. While I had Facebook and crypto-related friends I think everyone advertised something, to be honest it was massively
used by crypto-related users.
   Probably they will allow crypto-adds in the future, but they will set up rules and probably who wish advertising on Facebook
will need to go directly to them.     
   

[Fatunad]

However, the ban at least can hinder scam projects from getting people's money, especially those who don't really understand about cryptocurrency.

For me it's more to save their users from falling to scam than becoming hypocrite.

That make sense specially now that there are a lot of tokens and coins that was being introduced through facebook advertising. I have noticed some of them are obviously a scam or a shitcoin. Those shitcoins will bring bad image in cryptocurrency for the people who has yet to have enough knowledge about crypto.

[Kakmakr]

The banning of all Crypto currency related advertisements was mostly due to a herd mentality that existed at the time, because when one large social media company does something, the rest will soon follow their example. During that time a lot of ICO scams was doing the rounds and these social media giants received a lot of complaints from people who got scammed.

They took drastic preventative measures to ban all Crypto currency advertisements in an attempt to protect their users. The ICO scene has since collapsed and there are a lot less ICO related scams, doing the rounds.

Since the introduction of Libra, Facebook decided to revisit the "blanket ban" on all Crypto currency related projects, to allow their own token to be advertised on their platform. < Centralized authority can misuse their decision making powers > 

[pinoycash]

What can you expect with facebook, its a centralized and selfserving company. If there's only an alternative that i can connect with friends i will skip using facebook all together.

[iv4n]

What can you expect with facebook, its a centralized and selfserving company. If there's only an alternative that i can connect with friends i will skip using facebook all together.

There are some good platforms that reward people for using them, steemit, publishx0, some tries on tron network, but I think we are still waiting for some big blockchain social network. People spend time online and people would like to get paid for their time. We already have nice browsers that pays for using them, just for surfing the internet, browsers that pays you to watch ads, and soon we will have social network in the same manner, when that appears people will forget facebook.

[Kupid002]

>snip<

Well as of now facebook is much more popular in terms of  easy communication in your love once and friends .
All you mention is crypto related websites not for communication but mostly use for blog and any other update connected to crypto currency.
There is no one created the same as facebook that you can easily communicate and give updates to what you are doing .

[Moshaid]

Since people started clamouring about the Facebook ads ban, I have never for once experienced the ban because I still keep seeing several cryptocurrency ads on my timeline from users account to sponsored ads. By the way, I haven't heard any news about the Facebook cryptocurrency (Libra Token) for a while now, have the team stopped development or they're keeping things lowkey for now?

[chimdikweks]

Yes it happen like social media facebook ban different crypto related because they think negative about this like scam or hack here like they promote this with their social media facebook in some ways then actually i never think they will launch their own digital currency base in what they do like banning ads that related with crypto but unfortunately government need a lot of permit before they launch this and they not pass all of that still i think in future this can run or launch like facebook will provide all permit then pass

Its really hypocritical of them to do such in the first place, i mean, why ban something when you will actually go into it in the first place, its amusing, i see them as a global brand and i don't see reasons why they should fill challenged and decide to ban crypto adverts, they have the platform, population and every other thing to create a powerful token without been affected by other crypto brands and at the end they decide to go into something that they disowned, its amusing 

[fullhdpixel]

Since people started clamouring about the Facebook ads ban, I have never for once experienced the ban because I still keep seeing several cryptocurrency ads on my timeline from users account to sponsored ads. By the way, I haven't heard any news about the Facebook cryptocurrency (Libra Token) for a while now, have the team stopped development or they're keeping things lowkey for now?

They have not actually stopped developing the libra coin but they are taking some time to update the news about the development. Facebook perhaps might be in that hurry to launch their own coin. They have just mentioned the concept but no legal source is been published for the circulation of libra coin.

Facebook is the most widely used social media platform with a number of users and they might surely find benefits after the launch of libra coin but they would need some strong development behind the screen and this would surely take some time. Facebook allows cryptocurrency ads and even I can see some ads on my timeline. Perhaps they only have uplifted the ban because they themselves are launching a crypto coin which would be a major coins used on their platform globally.

[TheGreatPython]

The main reason why facebook banned some of the cryptocurrency advertisements was only because of the increasing number of scam projects into the ICO industry. These scam projects usually utilized facebook, instagram, etc to attract a decent amount of investors by showing them immense profits and a number of investors lost their funds in such projects.

Hundreds and thousands of people might have reported these kind of acts to facebook which forced them to ban the cryptocurrency ads. They have recently started developing Libra coin which would indeed be their utility token and hence there was a need to uplift this ban. I can't see anything erroneous.

[abel1337]

The main reason why facebook banned some of the cryptocurrency advertisements was only because of the increasing number of scam projects into the ICO industry. These scam projects usually utilized facebook, instagram, etc to attract a decent amount of investors by showing them immense profits and a number of investors lost their funds in such projects.

Hundreds and thousands of people might have reported these kind of acts to facebook which forced them to ban the cryptocurrency ads. They have recently started developing Libra coin which would indeed be their utility token and hence there was a need to uplift this ban. I can't see anything erroneous.

There were numerous project before I remembered that has an advertisement on Facebook that has a millions of active user worldwide, A project holder before would basically thinks that Facebook and other social media sites is the best way to gather potential investors to their project, But Facebook and other social media sites take the change to let themselves not be involved on what kind of project scenario will it turn someday. There's also a chance that Facebook likely eliminates their potential competitors since Facebook is having their own coin. Plus these social media platform is centralized and if they allow some decentralized projects to take their ads services, Their users might realize something about the decentralization and might endanger the centralized social media platforms like Facebook, Instagram and others.

[big_hercules]

I think facebook acted in bad faith, but in a war all means are good. They eliminated competitors even before their appearance. It was a strategic plan against other players

[Rodeo02]

Since people started clamouring about the Facebook ads ban, I have never for once experienced the ban because I still keep seeing several cryptocurrency ads on my timeline from users account to sponsored ads. By the way, I haven't heard any news about the Facebook cryptocurrency (Libra Token) for a while now, have the team stopped development or they're keeping things lowkey for now?

They will accept any ads from thier sites because its all payed even we report something suspicious ads we dont even know if the ads will be remove.

I dont know anything about libra i am more focus in other coins than this one since i dont see any benefit in me having that coins.

[carlfebz2]

The main reason why facebook banned some of the cryptocurrency advertisements was only because of the increasing number of scam projects into the ICO industry. These scam projects usually utilized facebook, instagram, etc to attract a decent amount of investors by showing them immense profits and a number of investors lost their funds in such projects.

Hundreds and thousands of people might have reported these kind of acts to facebook which forced them to ban the cryptocurrency ads. They have recently started developing Libra coin which would indeed be their utility token and hence there was a need to uplift this ban. I can't see anything erroneous.

There were numerous project before I remembered that has an advertisement on Facebook that has a millions of active user worldwide, A project holder before would basically thinks that Facebook and other social media sites is the best way to gather potential investors to their project, But Facebook and other social media sites take the change to let themselves not be involved on what kind of project scenario will it turn someday. There's also a chance that Facebook likely eliminates their potential competitors since Facebook is having their own coin. Plus these social media platform is centralized and if they allow some decentralized projects to take their ads services, Their users might realize something about the decentralization and might endanger the centralized social media platforms like Facebook, Instagram and others.

It will surely open up the idea where people or facebook users would really have the chance on knowing on what decentralization is but i dont
see that this do included one of the reasons why its being banned.The thing on my mind for the main ones is that they dont like for their
platforms to be tagged up negative yet we know that there are lots of scam projects that do advertise to this platform which means
if their users been scammed due to that project and since it had been advertise thru fb then for sure they would partly took up the blame.