Say What??? Facebook Bans ALL Bitcoin, ICO and Other Crypto Advertising

in bitcoin •  last year 

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Did you see this? Facebook made the decision to ban ALL (yes, I’m using all caps to emphasize) ads related to Bitcoin, ICOs, and other Cryptocurrencies. Well, this video is my rant talking about that.

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I think that DTube has it right. No censorship. Be sure to visit DTube and let people know what you think of it.

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What do you think? Do you agree with Facebook? Watch the video and let me know below what you think in your comments. I really look forward to hearing from you, my fellow Steemians on this one.

Terry Brock, MBA, CSP, CPAE
Member, Professional Speaker Hall of Fame
Certified Speaking Professional

www.TerryBrock.com
www.BrockonBlockchain.com
[email protected]
+1-407-363-0505 (Orlando, Florida, USA)

Steemit - @terrybrock

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I refuse to believe that Facebook, Twitter, YouTube, and all the big-box corporate websites would censor a competitor, even if they offer a better idea. Say it ain't so, Joe!

I think it will be temporary.

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I'm thinking you might be right. They tended to indicate that without saying it. Time will tell. Thanx for the comment!

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Seems they may have save some people from this current Blood bath.

Their platform -> their rules.

I believe they are being dictatorial, regressive and stupid, but its their choice.

Facebook has A LOT TO FEAR, and fearful entities do stupid things (like censorship).

Let the dinosaur die...

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Next thing you know they will come up with their own coin and try to compete with steem.

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FUD.... suckie-berg can suck on it /// protecting grannies and aunties from the crypto boogie man

the war is on !!

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I agree with your comment to some extent. However, I strongly in a favor of Facebook to ban all ICOs or anything related to crypto on their platforms, because this is how they stop scamming ICOs.

They will loose a lot of revenue from those ads, but they show you that they care about people on their platform. If you want to learn about new ICOs, go to specific page for them.

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Brilliant post thank you for posting that. I hope to see you around here again!

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That's hilarious! They just are doing this so they make the profit from cryptocurrency, not others. Quite a smart business move in my eyes.

crypto ads are kind of annoying

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India: Bitcoin Prices Drop As Media Misinterprets Govt’s Regulation Speech
https://steemit.com/bitcoin/@ajaydodeja/india-bitcoin-prices-drop-as-media-misinterprets-govt-s-regulation-speech

Great news, the more they ban the more will leave their insidious platform.

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I think they just want to protect their users from scamming ICOs, which is in my opinion, totally legit.

You got my full upvote, thanks for the good content!

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Thank you very much for your full upvote, @blockchainttmft. I appreciate it. Nice to have you come over to visit.

Happy to see Dtube getting used more often on Steemit here.
I reckon it's just a matter of time before FB enable some sort of crypto advertising. I think China is a similar story - ban everything to start with then slowly start making things legal as they get a hand on things.

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That makes sense. I think they have a proclivity to ban first, then slowly add back a few options. Time will tell.

Mark stole the idea of Facebook from the Winklevoss twins, and now that the twins are killing it with bitcoin he wants to ban it on his site and possibly create his own cryptocurrency....nothing original about Mark at all him and his FBIbook

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Crazy. What the heck is going on?

  1. Facebook bans advertisements for cryptocurrencies.
  2. Last week the U.S. Commodity Futures and Trading Commission subpoenaed Bitfinex cryptocurrency exchange and a digital coin company called Tether
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Regulators be regulatin.

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Bitfinex and Tether were subpoenaed because they failed to apply to audit rules and regulations. This is standard. If they are found to have violated rules and regulations then, quite frankly, wouldn't you want them to be found out so that Crypto can rally against and promote trust.?? Unless you want a 2015 VW ordeal.

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as bugs bunny would say "THIS MEANS WAR !!!"

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Yes, it is pretty crazy now. Time to fasten our seat belts and hang on as the ride gets wilder.

We're gonna see the full court press when it comes to centralized internet giants against the decentralized future of the crypto space. We (crypto enthusiasts) threaten Facebooks entire existence.

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Yes, I think they are scared of what could happen. They are not going to go quietly into the night. We'll continue to offer lots of value and options through cryptocurrencies. Thank you for your message @realitybytes.

I'm definitely no statist... but... to be fair, I see the ban on ICO advertisements as protection for people who are new to crypto. I see most reliable/well minded projects having no need to advertising, rather, they have the ability to raise funds organically.

If a project has a good enough team and pipeline, normally, it has enough merit to reach people's eyeballs organically. But I understand many people disagree with this sentiment.

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Orange, I agree with your post. You really have to know what you are getting into and more importantly, just like if you were to purchase a stock on the exchange, you must know the product and the team behind the name. Good Comment.

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Absolutely. Good analogy!

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Ad platforms have never allowed "get rich quick" advertising, and unfortunately that is what most ICO's and crypto products are highlighting. Its not necessarily a ban on crypto, the old school "Magic Internet Money" ads on Reddit would probably be ok, but its a ban on the general populations thought that crypto = lots of easy money.

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I hear you, and FB has the right to do what they want on their own platform. Yet, banning ICO ads to "protect" people is the wrong approach. Banning ALL ads? That would be like saying "Don't ever go to _____ (unnamed city) because there are criminals there and you could be hurt." Well, we have to use discretion and be selective in what we ban. Thank you very much for your thoughtful response @orangesphere. I appreciate you being here and look forward to seeing you around more.

Lol, their adds already track you. The only people that would see crypto related adds is people who already search for crypto!

I think they are just scared of how the technology is BOUND to disrupt their space - crypto is a threat to many different technology-driven businesses, and centralized social media platforms are right there in the midst of it.

They feel threatened. Good.

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I hear you, @mr-swiss. This really is a threat to them in many ways. When people feel threatened, they shut down. That also opens opportunities for those of us who are open to new ideas. Thanx for sharing. I really appreciate your comment.

  ·  last year (edited)

Im not surprised, this is usually how great companies fall. They fail to evolve with the times, they think they are too big to fail. They cannot find a way to incorporate crypto into their business model so what do they do try to block their users from knowledge, low, good luck facebook, but more likely goodbye.

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Sounds to me like you have been doing some study of history, @stockniper. You are right and the pattern has been repeated many times. They think they are "too big to fail" until they fail. I'd like to see FB adjust and modify. However, that is their deal and they have the right to do what they want in their own way. Nice to have you visit. Please stop by again sometime. I appreciate your thoughtful comment.

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Definitely, your content is really good. I learnt alot about Steem from your youtube videos. Especially interviews with people in the community. Keep up the great work.

  ·  last year (edited)

I think Facebook is just trying to protect people from being scammed with fake ICOs. I don't think it's out of malice. Other financial firms like hedge funds aren't allowed to publicly advertise their products. ICO and cryptocurrencies seem like financial products to me. What do you think?

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They have the right to do that. However, I think it is best to let people decide and not try to "protect" and keep them "safe." Thank you for your comment, @jkimura. I appreciate you stopping by.

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ICOs its more like crowd funding ,i all so don't see any reason to protect people from there own stupidity.

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Very good point, @tonnypedersen. It's called wise-up and study. You are so right.

Hi all,

I'm very pleased Facebook is taking steps to ban cryptocurrency ads, the fewer ads the better imho.

Facebook has taken some flak recently over the running of ads for fake Telegram open network sites and there are tons of really dodgy "to good to be true" schemes involving crypto. TON has even been hyped by the media yet there is no official announcement!! it could be an elaborate joke to expose their stupidity, lack of thought for their readers or perhaps they have fallen victims to the more sinister goings on!

The combination of media hype and social media ads has given the scammers an open playing field to exploit cryptocurrencies and anyone gullible enough to fall victim to their exploits.

It would be brilliant if Google took similar steps. If they are unable to filter out the obvious scams then blanket ban the lot of them the less ads the better in any case! thumbs up to Facebook for trying to get it's act together.

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Checkout my posts on how the media has played into the hands of scammers and how google has been cashing in on there ads, my latest is titled MIT and FT latest to give ICO credibility to Telegram Scam, here's a link to it https://steemit.com/blockchain/@johnchamberlain/mit-and-ft-latest-to-give-ico-credibility-to-telegram-scam

I totally get where Terry is coming from on the censorship angle but the ban is on dodgy sales advertisements not free open discussion, get the ads out of our faces and encourage the media to do more research so not to overly hype unconfirmed rumors in the crypto space, as it not only plays into the hands scammers but also gives the regulators the ammo they need to impose their regulations on us all.

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I would love to see a completely ad-free internet and cryptocurrencies give me quite some hope that this might actually become true.

As such they are big threat for the business model of internet media giants. If I were in their position I'd do anything to slow down their evolution. While the advertising ban may affect some scammers, it also damages the reputation of crypto in the eyes of the vast (uninformed) majority.

Even better if I can disguise that blow as a "protective" measure towards my audience.

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Though you make good points on the idea that Facebook is taking action to protect their content providers from scammers, however, you should keep in mind that this type of censorship is the type of control that hinders innovation and progress. Facebook is not hesitating to take advantage of selling your information to another company that is seeking to scam you as well!

We have given up our freedom and privacy to these corporate giants for too long, which is why more and more I'm supporting decentralization of such social media platforms. It's clear that Facebook has the freedom to do whatever they want, so my suggestion is for those in the crypto-community to use more sites like steemit to educate and inform the public about a project they truly believe in.

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Facebook is trying to clean up their act, believe it or not that is a good thing.

So far as decentralization of social media goes... @ned clearly describes Steamit well "Steemit is a centralized website sitting atop a decentralized protocol—that's steem"

The point i'm highlighting here is that it's not practical to "deventralize everything" which is why EOS IO, for example, has a custom application infrastruction framework. Ironically Block. One the company developing the EOS IO software uses "Decentralize Everything" as a slogan!

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It's not, imo a struggle for freedom or privacy that is generally a choice and most choose the social platform with 2+ billion active users over the less popular under 1 million user platforms, regardless to the underlying technology.

There are other incentives such as monitization those which are different from a user and advertisers perspective and here we can agree as Facebook taking a hit on advertisement revenue combined with it's own interest in exploring cryptocurrency and blockchain tech as announced in it's new year statement could be an indication of it paying close attention to user growth stats across various platforms.

I think it's a good decision for Facebook why should they dig their own grave.

Whaaaaa??!!!! 😵😵😵

🇷🇺 ads meddling in the 🇺🇸 election = OK.

Advertising one of the biggest things to happen to the internet 🚫

Freedom of speech is a principle that supports the freedom of an individual or community to articulate one's opinions and ideas without fear of retaliation, censorship, or sanction. Steemians and other Crypto Giants would be wise to lead a Constitutional Lawyer to take a peek...:)

I am not surprised that Facebook would ban all Crypto ads,

A lot of people lost money buying into crypto lending platforms like bitconnect ( facebook dont want to be liable for anything that may be considered a scam so they put their foot down on everything related to crypto

It's the same reason they don't let you directly promote affiliate links

And steemit could be the end of facebook, once people realize that it is decentralized (no more faceboo jail) plus they have a chance to make money for their baby pictures posts

As soon as the crypro side becaomse as easy to set up as a facebook acount - everyone will switch over

Dang

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My sentiments exactly, @trumpyourface180

think facebook is the best platform to advertise various coins along with upcoming ICOs. So such kind of action would definatly hurt crpyto users as well as facebook lagacy. This message should be regulated to all social media with a request to keep continue crypto advertisment.

"Another ad that Facebook is targeting is the one that promises the absence of risk. That seems to have been the approach of Bitconnect, which was guaranteeing fixed returns and has since been hit with its second class action lawsuit claiming an investment scam."

Bitconnects action leads other cryptos to fall...

Source: https://www.ccn.com/facebook-takes-aim-at-icos-cryptocurrencies-in-new-ad-guidelines/

I see Facebook as a dynasaur of organisation trying to stay alive in an ever changing digital world. He's now trying to ban cryptocurrency related businesses so that he can then push his own future "solution" to the FB masses.
Personally I despise Facebook and what it has become and I want nothing to do with it. I am sure I'm not the only one feeling this way.

facebook is a tool for the powers that be in taking your identity and do surveillance in your daily activities. and of course, they ban crypto ads because they are protecting the fall of the dollar and the deep state. unless cryptos are being regulated by them,which is pretty much difficult being decentralized,they will do anything in their power to bring down the cryptos. that's my personal view.

I feel that Facebook is scared of the future and what it may bring for their current empire unless they figure out how to be apart of it FAST. Facebook knows they need to prevent their members from seeing ads that show them a better platform until they can come up with their idea to counter said platform. Once more and more people wake up Facebook will start to lose members unless they make a change. Just my thoughts.

They are just crazy because they know Steemit will get over them and they can't let that happen....

  ·  last year (edited)

Resteemed and Twitted ...and oh Flip too ;)

Good news now many newbies will be away from manipulation.

I agree, it's a 3 stooges show out there. And good for us we have this platform.

Awful choice by Facebook @terrybrock. If I'm into crypto or bitcoin, I most likely want to see ads about it. Who does Facebook think they are? I'm fairly certain they've also done this with medical marijuana, guns, and other sensitive categories. Apparently a Bitcoin company can't advertise on there, but they don't have an issue with Russia placing ads designed to stroke hatred & division within our country!

...or perhaps Facebook is getting ready to launch their own coin...?

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Thank you for the comment, @geoffreydemars. I've heard that speculation that FB is contemplating launching their own coin. Perhaps. I don't know. You raise some very interesting points. Thank you for your comment and for stopping by.

Zuckerberg thinks he can slow down the eventual demise of his social media empire by eliminating crypto content. It is a feeble attempt on his part. This is like trying to curtail the development of AI, not going to happen you greedy, data mining mongoloid!

for God sake - control

because Facebook resists change. by not accepting what is revolutionizing the world,? "cryptocurrencies"

Great information! Thank you for the good post! If you interested in Cryptocurrency and the trending news about, you more than welcome to check out my page and follow if you like it.

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@terrybrock, thank you for your video. It's abhorrent that they are attempting to control the narrative to (no offense meant here) but technologically ignorant masses that use their platform.

This is especially troubling considering Mark's recent proposal for creating a cryptocurrency for Facebook barely over three weeks ago.

I believe this to be completely anti-competitive, very deceiving, and what's worse - under the guise that they are protecting their user base.

I think Steemit is a great step in the right direction and there are many, many improvements that can be made on the platform. I also think there are many great things the platform has truly been the innovator in.

I am very excited that you're in the Orlando area and that you've listed your phone number. I'll shoot you a text and hopefully we can grab a cup of coffee and even maybe start an Orlando Steem meetup?

Looking forward to talking with you and thanks again for the quality post!

  • Michael
  ·  last year (edited)

Facebook has decided to take down all ads, for a product that is inherently Libertarian in nature - all forms of blockchain.

Why be surprised that Facebook is setting itself up as a censor?

Facebook liberal bias is obvious and easy to prove, they are very heavy handed and seldom succeed in being sneaky. Just like this time around. They wear their bias on their sleeves. If you don't like them, dump them.

Compared to Google which is downright EVIL and needs to be broken up by DOJ on the basis of their monopoly power.

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"Compared to Google which is downright EVIL and needs to be broken up by DOJ " yes agree, i remember years ago looking at the adwords dashboard and preset was "broad search" the exact and phrase search check box was missing and hidden, what a bunch of Google crooks, the ywere going to get a ton of money out of you for irrelevan key words , G are evil exactly

The measure seems extreme although I imagine that Facebook does not want its platform and company to be associated with the crap that are the majority of the ICO. However, instead of banning all advertising related to Bitcoin, cryptocurrency and ICO, they may have implemented some kind of restriction without reaching a total ban.

I think they did not think it well.

I think that this is a good thing for Facebook. I don't really like Facebook, but I use it. They know what cryptocurrencies are doing, they know how it's going to affect social media and they want to do something about it. Maybe, in secret, they are working on their own blockchain social media coin. A company makes a decentralized social media like that of their own, and if they make it right, that could change the world.

Who knows if they are making their own coin.

Unfortunately, it is their company and they can make whatever rules they want to. Facebook has done a lot in the past that I didn't quite agree with and I spend more time here on Steem than I do over on Facebook nowadays anyway so I personally don't really care. I think that a lot of companies may be covering their tails now that cryptocurrency has become more mainstream and some bad stuff has gone down lately within the space (lending platform drama where people lost a lot of value overnight). Big companies usually feel that it is their duty and right to protect the "little people" from making poor or uneducated decisions. I appreciate the video and agree with what you said! - Ivy-

I'd actually like to see Facebook embrace a coin and use it in the marketplace. It would be a win win for them. However I'm not fussed as Facebook is getting tired and a new platform will evolve past it (here's hoping its STEEMIT)

I guess its again time for everyone to ban or at least reduce to the minimum possible the use of FB.

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  ·  last year (edited)

People and businesses are heavily invested in fb. All those pictures, videos, social connections—the average person isn’t just going to leave all that behind for some mythical digital coins they can’t even fathom, much less comprehend.

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I agree with that . The issue of crypto maybe is less vital than the issue of privacy.
Most people don't care about privacy and they accept FB.
They just want to communicate with each other and having a fancy platform for that.
Now, how can you speak about digital coins to someone if he doesn't know or care about digital privacy .
The change comes from a few not from many.

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FB is so 2010

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Lots of people are doing just that, @amadeus. Thank you for your astute comment!

It is all about money. Great post!

That's weird - normally adverts are all over the place - I thought next they would sell BTC on facebook.

It's a crazy decision, but at the same time I wouldn't trust any crypto project and especially any ICO that advertises on Facebook. It's a platform for suckering in dumb money, and not much else.

This is good for crypto. Too many scam ICOs and worthless coins

facebook stingy, do not want to appreciate those people who have been raising facebook app. I'm sure people will leave facebook.

I think this is a good thing. The fact that Facebook was appealing to the masses in a way where it is providing delusional advertisement is nonsense. “Want to know which coin is the next bitcoin?” Or “your neighbors are investing in bitcoin, be a millionaire like them?” This attracts the wrong kind of crowd and continues this lack of maturity that we are currently seeing in the crypto currency market. We need people who’ll believe in the tech and the fundamentals of the block chain. And we can accomplish that by good advertisement and marketing, summits, etc. Not that junk we saw on Facebook!

India: Bitcoin Prices Drop As Media Misinterprets Govt’s Regulation Speech
https://steemit.com/bitcoin/@ajaydodeja/india-bitcoin-prices-drop-as-media-misinterprets-govt-s-regulation-speech

this post has been upvoted and resteemed by @thethreehugs. I am also posting link to this post on my facebook..lol Let's see if they ban me!

I THINK they are now tremble with fear about their position in digital world..so they start that rude behave

IN MY LAST POST I SAID"NOW TIME TO BOYCOTT FACEBOOK, THE TIME IS FOR STEEMIT"

SO GO AHEAD @STEEMIT

Could not agree more Terry! This is exactly why I am getting involved in Steemit.

Just one litte thing: I would very much prefer reading a few lines, than watching videos.