Bitcoin Sinks As Google Moves To Ban All Crypto, ICO Ads In June

Mimiccing its biggest rival for ad dollars - Facebook - Google will ban online advertisements promoting cryptocurrencies and initial coin offerings, and "other speculative financial instruments" starting in June.

Some aggressive businesses found a loophole: purposely misspelling words like "bitcoin" in their ads. A Google spokeswoman said the company’s policies will try to anticipate workarounds like this.

The reaction was immediate across the crypto space but for now is somewhat subdued...

Alphabet’s Google said the new policy will become effective in June across ads bought on its search and display-advertising network, as well as its YouTube unit.

But, as The Wall Street Journal reports, the policy also will restrict ads for nontraditional methods of wagering on the future movements of stock prices and foreign-exchange, such as binary options and financial spread-betting, Google said.

Google said last year it removed more than 130 million ads that were used by hackers to mine for cryptocurrency. That is a very small percentage of the ads run on Google’s ad network.

The company’s director of sustainable ads, Scott Spencer, declined to comment on how much potential ad revenue the company would be turning away by enacting the new policy, saying the decision was made to prevent consumer harm.

One wonders when the crackdown will start on inverse VIX ETFs, or just S&P ETFs, or brokerages? Aren't they all capable of doing consumers "harm"?

As a reminder, here is Facebook's justification:

We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.

This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network and Instagram. We will revisit this policy and how we enforce it as our signals improve.

We also understand that we may not catch every ad that should be removed under this new policy, and encourage our community to report content that violates our Advertising Policies. People can report any ad on Facebook by clicking on the upper right-hand corner of the ad.

This policy is part of an ongoing effort to improve the integrity and security of our ads, and to make it harder for scammers to profit from a presence on Facebook.

Which roughly translated is "because we know what's best for you!"

Comments

pods Gazooks Wed, 03/14/2018 - 06:30 Permalink

There are a lot of scams floating around the crypto space. I applaud them for trying to get ahold of things. A lot of shady characters. Think clicking a porn pop-up.
Once things are ironed out I wanna see ads allowed again though.
pods

In reply to by Gazooks

BobEore MillionDollarButter Wed, 03/14/2018 - 00:55 Permalink

Probable trajectory of work around wordings which the "Sustainable Ads Dept" @ google will want to track down...

  • BITCOIN BROKERS
  • BUTTCOIN BROKERS
  • BUTTCON BROKERS
  • BUTTERCUP BROKERS
  • PUCKERUP BROKERS
  • PIZZAPARTY BROKERS
  • KOCH/ADELSON 2020

 magacoin.com          /trade your used MAGA paraphernalia for cyptocurrencies NOW...before its too late!

In reply to by MillionDollarButter

lookslikecraptome thisandthat Wed, 03/14/2018 - 01:33 Permalink

I can be critical of the crypto evangelists, from time to time, or most of the time. because google is doing this shit, I hope BTC blasts up. See coineratti, i can be every bit as anarchistic as u r. Cheers. f google. with a cactus.

Not completely altruist, I want to trade up for a day or two. Trading down is getting boring and I need a change of perspective. 

This NEWS barely influenced the range. Just got done looking at GDAX and bitfinex. Not sure y this is even mentioned. Except the stock/wall street BTFD evangelists are every bit as boring, and retarded, as the BTFDers in crytpo land which the article points out. 

In reply to by thisandthat

lookslikecraptome lester1 Wed, 03/14/2018 - 02:25 Permalink

Lester, Lester Lester. What in this world am I gonna do with u. As discussed with you, in comment the other day, u create 2 much psychological resistance and reactance, and too much dissonance to reduce, for the coineratti, with ur utilization of the words ponzi scheme. 

To enhance your information assimilation, in the future, please use language less inflammatory to the coinsters. 

As suggested AMWAY may be a bit, not much, more applicable in your information dissemination. The reduction of dissonance is always hard for people. Or perhaps u could use terminology such as MLM. 

Roger, over and out, zero code alpha gamma Lester. 

Will review ur performance at a future date to see if u have made accommodation to enhance ur information dissemination campaign and the likelihood it can be assimilated by those in the throes of dissonance reduction. 

Reference: The Social Animal; Aronson, E. University of California at Santa Cruz, Ca.; Sitting professor (or some shit like that) Stanford University, Palo Alto, Ca.  

 

In reply to by lester1

Slimedon1 lester1 Wed, 03/14/2018 - 22:13 Permalink

If it is a ponzi scheme it's the worst ponzi scheme ever. Do you even know what a ponzi scheme is or is this something you are regurgitating to justify being a no-coiner? You sound like someone who went all in on buggy whips in 1895. I get it, your old, it's something new, you don't understand it, so your inclination is to denigrate it.

In reply to by lester1

WorkingClassMan Wed, 03/14/2018 - 00:24 Permalink

(((Joogle))) and (((Fedbook))) are against cryptos...the reasons to support this are growing by the minute.

The System is acting against cryptos like they are acting against White people who speak in defense of their interests:

"defraud, defame, silence, crush and limit."  Same shit, different game with the System.

An Shrubbery Wed, 03/14/2018 - 00:27 Permalink

 "No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"

Animal Farm, G. Orwell

lookslikecraptome DillyDilly Wed, 03/14/2018 - 01:56 Permalink

Some do seem to have a devil may care bravado/stupidity. "Hey man, I bought at 50, have 500 coins, and I let my holdings go from 19500 to 9000, and hey eff it man. I am still rich, who cares about that ten grand per coin I lost, its going up to 100 thousand, no sweat right? Actually, I cant find the trigger, and never heard of money/trade/ or investment management, is what I am trying to say"

In reply to by DillyDilly