Facebook is a corporate culture organization which derives its major profit from Advertisements revenues. According to recent statement of product management director of Facebook Rob Leathern said. They won't feature any ads related to cryptocurrencies, ICOs etc
In my opinion, Facebook was already losing its charm due to decentralization concept of cryptocurrencies and have done this to mitigate promotion of its rival crypto-based blogging platforms like Steemit.
Warren Buffett described it beautifully that
If China can't stop Bitcoin, then no one will.
Anyways i still believe that 2017 was just the start for cryptos and 2018 is definitely going to be the boom and masses will eventually claim the true freedom with decentralization and break free from fake reality which following image depicts
Another interesting consequence of this ban would be which has left me wondering that how will now @jerrybanfield-the self-proclaimed good guy of Steemit, will defend his agenda of Ads campaign on facebook which was one of the source for his repetitive posts.
Soon in near future
All will be fine with or without face book ads
I thing it is great news. There's so much crap floating around the internet.
its a lame move considering that cryptos are the future, they have a concern since some people are using the platform to con people but a blanket ban is a sign of a giant who is afraid of the ant
Well said, they are more than afraid
I think mark going to make his own crypto very soon, he has to cope with this era and if he didn't then what a loss he's gonna face when the majority left facebook and became steemians,
steemit and crypto's getting more and more popular everyday, absolutely Mark feel anxious
They will have a hard time leaving their own business model
You don't believe that how much you are useful for us because you are giving us cryptocurrency news every day. I love the way you are sharing your knowledge with us.
That's why I'm coming on your profile again and again. Keep sharing such news with us. :)
Interesting and not all that surprising. They also just did a giant update that hurts organic traffic for pages. Without promoting, the chances of anyone seeing a page has dropped significantly, AGAIN. I'm a business owner who uses Facebook ads on a regular basis. It just got more expensive.
Amazing how quickly FB reacts when something might hit their bottom line. Why does FB not act in the same way to prevent perverts stalking children or terrorists who want to kill us from communicating?
It's because FB is part of the problem, not the solution.
All the right words perfectly stated
they might be planning to launch their own coin so the earlier they take out the competition , the better for them
Is this for the future, because I see Bitcoin related ads all the time on Facebook. Also lol umad zucc, when people cotton on that they can be the ones making money on Steemit instead of Facebook taking everyone's shit and never paying anyone Facebook is gonna lose so hard. When's Dbook coming out lol.
But wow holy balls on that Warren Buffet quote, didn't know that.
Facebook knows best and has your best intentions in mind.
I picture that comment being written with sarcasm.
Facebook is just eliminating space for the competition as they take steps towards creating their own platform.
Plus, he doesn't like what he can't control.
umm right dude
Shocked at this biased attitude of facebook towards crypto ads. May be some of the crypto ads are scams but...my question here is...are non-crypto ads free from scams? We have been advertising on fb since a year & let me reveal that their approval process is very superficial. They don't even check for legal identity of their ad clients. If I click on a facebook ad & am directed to an online store then can facebook guarantee the genuineness of that online store (LOL!!)?
I never thought of the jerrybanfield side of it.
Most of the bitcoin based ads on facebook are just click bait anyway. Realistically if people are interested in ICO's and Crypto, this may actually drive them to other platforms.
What is next? will they hide peoples posts about these topics? slide them deep down your feed?
Darryl (@dadview) resides in Canada. He is an active member of The Alliance and teamcanada
Check out my Latest Blog
Hmmmm so that's why I never heard of cryptocurrency on facebook but we can't really do anything other than stop using Facebook. Maybe its Mark's strategy to earn money and make people focus on facebook than in cryptocurrency since by doing this he can exclude his competitors.
Solid Warren Buffett quote 🤟🏼
I definitely think that long-term the effects of banning crypto ads won't have any serious consequences. Word-of-mouth and the technology itself needless to say already does quite good marketing in itself, just a matter of time before the adoption reaches higher levels 🙏🏼
facebook should accept cryptocurrency.
Informasi yang bagus.
Congratulations @bluemist, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a Superuser account holder (accounts that hold between 1 and 10 Mega Vests). The total number of posts by Superuser account holders during this period was 1682 and the total pending payments to posts in this category was $18111.76. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
Awesome news, with all the scams out there and fake ICO people are losing a lot of money. The masses out there believe and trust in Facebook so when people see it there it has to be true so why not invest or buy. I don’t mind the crypto news ads or other investors sharing their input, but I’m with Facebook on this one, thanks.
Awful choice by Facebook @bluemist... 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...?
The ban is due to the scams running on the name of cryptocurrency.I think we as community should start whistle blowing against all those scams.
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!
Until they come out with their coin to control people even more...great bringing this to people's attention Blue.
Poor Facebook, they are so abused.
There's one practice still allowed on FB and I see people doing it successfuly - they do FB ads campaigns to attract people to steemit and it seems they all run smoothly.
I totally agree the cryptocurrency blogging platforms have invaded the internet and given social media platforms like FB a blow and a run for their money. And FB has "done this (banned crypto promotions) to mitigate promotion of its rival crypto-based blogging platforms like Steemit".
However, in the long run they will have to link with crypto-platforms. that's the future !
As always, great info @bluemist
very great post
good post..tnx..for sharing...dear..
i believe facebook is unique in its own way thats why its trying to ban cryprocurrency ads.
I’ve never had facebook.. But it sure would be nice if all of you who do have facebook post your own Bitcoin ads. It woud be a community thing - like Bitcoin.