FACEBOOK AND INSTAGRAM BANNING ALL CRYPTOCURRENCY ADS! INCLUDING BITCOIN AND ALL ICOS - This affected price

in #cryptocurrency4 years ago

Facebook announced they are banning all cryptocurrency advertisements

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 — or binary options, according to Facebook's blog post

Ads that violate the company’s new policy will be banned on Facebook’s core app, but also in other places where Facebook sells ads, including Instagram and its ad network, Audience Network, which places ads on third-party apps. 

This further affected the already falling prices of Bitcoin and cryptocurrencies as it is already a bearish week for many investors with a sea of red declining prices.

This ban is deemed unfair by many to the legit and legal ICOs and corporations that require such ads to market themselves and raise funds for their project or platform

The ban seems to be effective immediately and there has been no further information on when and if this ban will be lifted as cryptocurrencies become more mainstream.



Further information: https://www.cnbc.com/2018/01/30/facebook-ban-on-bitcoin-ads-latest-in-very-bad-day-for-cryptocurrencies.html


Sort:  

Is this true? thats not the way... I thought Facebook was interested in LTC

Ye it has been confirmed by cnbc and is true

There can only be one coin on Facebook and it will be chosen by Facebook.

Ye, I agree, there are rumors they are starting their own coin/ico

I am sure they will. I can't believe they are so damn late to the game though lol

Yea, I think they are handling this with caution but I had hopes they would use LTC with the rumors haha since I have a position on that. Nice to meet you tho and I dropped you a follow @ozwald, hopefully we can grow together and give advice!

Thanks. I'll probably resteem, upvote and comment often! I am really excited for Steem in 2018, I don't hold any LTC so I haven't been watching the situation too closely but I know a lot of people were really hoping LTC would be Facebooks choice. I don't think Facebook would adopt anything they can't control directly. Coin/token reward based incentives is the future of all marketing - but it won't be anything you can mine or earn yourself (at least not coins for businesses like Facebook lol). I could be wrong. Let's see how this goes.

I will be posting a lot of music to DSound in the next year and a some DTube videos, some original photography, memes, rants etc. Plus I share a lot of steemit / crypto related news. Right now I am really interested in Steemit Success Stories and new Coins and Token projects that have actual utility (like STEEM).

I'm still quite new to this platform so I'm growing quite slowly but I believe quality > quantity and if we can put out good useful posts we will definitely grow and flourish. If possible I would like to collab with you in the future or help each other in each of our strongsuits to grow together

If you live anywhere near Toronto - I am thinking about organizing some sort of Steemit meetup here and could use a team of people to organize and promote it.

Unfortuantely no, I'm located in Vancouver, I wish I was. Toronto is definitely a visit destination on my list one day and a great location to stop by

are you on steemit.chat?

DUDE You have to check this out man! OMG it's awesome.

@ jordanlok I think its a good thing , with all the scammy ICO's that just copy paste whitepapers and only market themselves rather than actually build a product
btw ... i love what you're doing , I'm a fellow Crypto news reporter too and i do them in immense detail .. so be sure to check it out and critique it for some improvements
https://steemit.com/altcoinbuzz/@steemaze/crypto-news-current-btc-early-motorola-korea-self-regulation-tether-hack-philippines-regulation-ltc-upgrade-qash-partnership

Cheers :)

Ye you are definitely right and the crypto world sure is full of scammy and dangerous criminals. I like how detailed your posts always are, how much time do you spend on them jeez. I feel like it would take me 3 hours at least to write that much detailed information!

haha.. on an average it does take 2 hrs , but I sure am happy with the outcome .. so the work is worth it :)

Congratulations @jordanlok! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Coin Marketplace

STEEM 0.73
TRX 0.10
JST 0.076
BTC 58295.76
ETH 4452.06
BNB 625.13
SBD 7.13