Facebook bans Crypto Advertising (English / Deutsch)
Facebook and Instagram protecting its users?
What a news from Mr. Zuckerberg. By claiming to protect its users from scammers this was another intelligent move by him. So the plan is the they are banning all ads that promote cryptocurrencies which include Steem, Bitcoin and all other tokens. Officially it is said to be an effort to
"prevent people from advertising what the company is calling “financial products and services frequently associated with misleading or deceptive promotional practices.”
Steemit promotions become illegal? What if Google follows?
What does the Crypto Community think about this? It has not been implemented yet but could affect a lot of industries such as legitimate advertising companies. The ban would also include any ICO promotion moving forward. Facebook is still the most used platform around the world to promote anything so that is a major news in my view.
Will Google / YouTube follow this route it could be the end of crypto currencies or a reason for Crypto Goes Underground? We will see what the future is bringing. Here is what will be banned:
Some material for you guys to check, read what the media writes about it below:
https://techcrunch.com/2018/01/30/facebook-is-banning-cryptocurrency-and-ico-ads/
https://www.gruenderszene.de/allgemein/facebook-verbannt-werbung-fuer-kryptowaehrungen
Facebook macht Ernst
Da wacht man auf und liest so eine schockierende News. Bin gespannt ob der Plan auch umgesetzt wird. Facebook möchte jedwede Online-Werbung für digitale Währungen auf der eigenen Plattform untersagen, also Facebook, Instagram sind primär betroffen. Ist es nur ein intelligenter Schachzug von Mark Zuckerberg oder ist es tatsächlich der Versuch Nutzer vor Betrügern zu schützen? Viele legale Werbefirmen sind betroffen, insbesondere jene, die sich auf ICOs spezialisiert haben. Offiziell sind sogar binäre Optionen betroffen und grundsätzlich alle Finanzprodukte und Dienstleistungen, die mit Kryptowährungen oder Initial Coin Offerings (ICOs) in Verbindung gebracht werden.
Facebook lässt sich offen diese Politik anzupassen - mal gespannt was die Communities sagen. Was man schon sagen muss, die Masse an Scammern auf allen Plattformen ist schon recht hoch und viele naive fallen auf sogenannte Programme rein. Ich hätte mir eher eine Aufklärungskampagne gewünscht, aber PR-seitig ist diese News natürlich weitaus besser zu vermarkten. Der eigentliche Auslöser ist angeblich der Millionenraub auf Coincheck wo NEM Token verschwunden sind.
Steemit Promotions nun illegal? Was macht Google?
Das Verbot gilt auch für Privatpersonen - also aufpassen Steemians was Ihr postet. Dei Frage ist auch, was versteht man unter Advertising genau - kann man sehr unterschiedlich auslegen. Selbst ein Steemit Post Link in einer FB Gruppe könnte dazu gehören. Nicht auszudenken, wenn jetzt Google und YouTube nachziehen - dann heisst es Crypto goes Underground wohl.
Sources: Wallstreet Journal, recode, Gründerszene, it-times, techcrunch, Internet für Architekten
Simply advertise Steemit instead of STEEM then. That's not breaking their rules. I think people need to read that closely. It gave examples of what isn't allowed. It's mostly talking about deceptive practices. The only people who should be worried are the scammers. Any other honest forms of advertising cryptocurrency aren't against the rules. Just drop the sales pitch and bogus claims.
I think people are overreacting. It's good for crypto if the scammers lose their voice.
I totally agree, all the Facebook ads I’ve seen have been bogus scams. If a project is good it shouldn’t need to advertise. But I also tend to have a skeptical view on most ICO or mining stocks, whichbis mostly what I’ve seen.
Agreed, Just promote Steemit, play their game. They are probably doing this as they have something in the pipeline which will be clogging up the marketing channels very soon, Face coin or Gmoney etc.
Scammers should be banned from all platforms. It is too easy to promote services that are complete scams with no background checks into the "companies" behind them.Some very simple checks from the likes of FB and Google would have eliminated this ages ago.
Good points - Steemit is indeed no currency. I hope you are right with honest advertising can be done and I agree a lot of scammers are on any platform. So if it ends up with higher trust in crypto we say Thanks Mark.
People who don't know a damn thing about crypto see those ads with promises of easy money. Of course that only makes the rest of us look bad, so get rid of them. That way, the new money comes to the established tokens, like STEEM. Then they see how it works and rather than telling their 2000 Facebook friends about how they got ripped off, they start spreading the word about how things are looking good, because that was the only option the new money was given.
If Facebook and friends wanted to harm crypto, one way to do that would be to simply ban advertisements and let the crypto people panic, go into conspiracy theory mode, then spread the news like wildfire... wait, no, that's not Facebook doing that. It's the crypto kids. I'm even reading it in the comments on this post.
In reality, this is brilliant. If Mark truly was attempting to cause harm, he did just that by shooting himself in the foot.
Guess he understood that he is doomed. THX for bringing the topic up. Will do some research on my own now :thinking:
Thanks @pollux.one - same here - trying to find more sources with in-depth explanation what is really getting the banhammer
Thanks for sharing this @uwelang. Personally, I think that Facebook actually did this to benefit their users. I was at a conference the other day, and was told that there are on average 5 new ICOs every single day.
Many of the ones that I have seen advertised on Facebook would be considered spammy, and a small portion that I have seen have been blatant scams.
I read the guidelines, and facebook is banning advertising with a call to action that directly promotes investing to users - something that I am not entirely against.
Now, I know that this could have a terrible effect on the promotion of STEEM as a currency, but we can still advertise Steemit as a platform, if we are smart about our advertising it will not affect us. I work full time in ICO Consulting, onine course creations and now blogging, so I would be more than happy to help create advertising campaigns for Steemit that are compliant with these new rules, but also help get new users in to the platform. If you or anyone else is interested in doing a Steemit fundraiser for advertising campaign funds, let me know and we can get something together to further promote Steemit.
I am currently working on a blog series with a focus on new users to the platform - showing them how I made around $1,000 worth of Steem in 3 days with no initial investment. The aim of the series is to turn new users in to long term daily active users by providing them with the skills they neeed - i think it is important and I feel that there should be a page that focuses solely on brand new Steemians, showing them the ropes through online courses, and curating content to give them the boost that they need. Again, I would be happy to do this, so I am currently trying to get SP delegated to myself so that my vote is worth something to new users. This way, even if we can't advertise on platforms like Facebook, we will spread the word by word of mouth of new users - not the most effective strategy, but it would get in a lot of active users in my opinion.
Thanks again for the post, let me know if you would be interested in any of this work! I have a graphic designer on board already, so we have a good skill set to start with. Would reall appreciate your support on my latest series for beginners!
Agree with your points and like the idea - am probably not the one to help you there - maybe @andrarchy is able to direct you here. We have some local initiatives on the platform e.g. for the German community where we help them on boarding, video tutorials etc. @jedigeiss @theaustrianguy @alexvan @twinner @flurgx @schlees and many more try to help newbies. The great Austrian guy above created also an account @neuvorstellungen which supports new Steemians.
We would need a central source for that ideally - agreed.
@uwelang, do you know the best way I can contact any of these people? Looking to get this running in a week or two.
most of them on discord probably - @andrarchy please try steemit.chat
Perfect, thank you!
Thank you! Okay perfect, thanks for pointing me in the right direction and will get in contact with as many people as possible - although I imagine it's hard for them to keep up with all of their comments!
Either way, I would really appreciate any feedback you have on my latest series, I'm really trying to help the beginners in the community! Thanks again.
Yes, I saw the news last night and started ranting about it here :)
But in the end I came to the conclusion that it's a good thing: it will drive the desire for decentralized, censorship-free media and bring a whole new influx of people to crypto, and probably also to Steemit. Hopefully not to advertise, though :)
interessanter Artikel, wäre noch hilfreich wenn die Referenzen dazu angegeben wären (Links)?
Warte - ich packe ein paar rein - später :-)
z.B. https://www.facebook.com/business/news/new-ads-policy-improving-integrity-and-security-of-financial-product-and-services-ads
i think they banned it because they start to smell th danger for crypto. espcially steemit community which is growing everyday. just last month over 100 K users joind steemit. inaddtion all steemit members spend more time on steemit more then they do on other social media. its not a joke if steemit has over 2 milliones of usres he will be at the top of social media websites by they edn of the year if we do more promoting;
Mr. Zuckerberg hisemlf spoke about creating token for facebook so how does he disagree with crypto world and blockchain. its just they know well how blockchain will eat them lol
Think we need to wait what really happens and what really gets banned - in either way it was another great PR stunt by him.
to be honest we have a project called arabsteem. we are promoting steemit and support members who speak arabic language. so we are doing advertising on facebook and got more than 3K new comes joind to our project and our channel on discored lol. so doing advertising on facebook an dother social media reall make difference. but steemit will got to the light if they want or not. I am just waiting for steem to be ranked on top ten crypto in markectcap. that time people will run to hold it. thanks for sharing this infromation with us.
800M active user per month on Instagram, we still got a long way to go...
So wie es für mich aussieht, ist hier noch kein offener Kampf gegen Steem oder andere Cryptos entbrannt. Wenn ich mir die Beispiele so angucke, betrifft diese Änderung erst einmal nur die Scammer.
Es hat zwar bestimmt schon viele einmal im Internet in irgend einer Form getroffen, doch wenn man mit offenen Augen vorm PC sitzt und nicht gleich jeden Klickbait frisst, der sich irgendwo ergibt, kann man doch recht sicher leben.
Und was haben die Leute sich eigentlich gedacht: "König von Afrika irgendwo gestorben, du reich, 1. Erbe. Jetzt mit dem millionsten Klick gewinnen". Man sollte eine gesunde Medienkompetenz aufbauen, denn Facebook und Google können einen nicht überall "schützen".
Facebook ist definitiv doof und das Verbot zeigt j nur, das wir auf dem richtigen Weg sind :)
Die Hintergründe bleiben spannend und solange es nur den Scannern an den Kragen geht - perfekt! Und davon gibt es zuviele auf FB und anderen Communities.
I think from one side this is a very good thing. I get a tons of ads every single day with scam ICOs and Ads with "the next bitcoin". There are milions of people that are uneducated on facebook and dont know scam ICOs exist and that is all legit and the people lose so much money only because they believe facebook ads... This is a lead up from the milions of Bitconnect ads that were everywhere on Facebook .
On the other side that is a bad thing for like you mentioned Steemit promoting. But Steemit is the MAIN future competitor for Facebook so i dont wonder why they did that. But anyway there should be some way around for Steemit and all of this stuff if we read more carefully the new rules they put. :)
let's see what happens to their share price later.