Facebook is banning all ads promoting cryptocurrencies


LIZ: HUNDREDS OF COMPANIES HAVE BEEN FRIENDING BLOCK CHAIN, SOME HAVE CHANGED THEIR NAMES. CRYPTOCURRENCIES THEMSELVES HAVE BEEN UNFRIENDED BY THE SOCIAL NETWORK. FACEBOOK IS BANNING ADVERTISERS THAT PROMOTE BITCOIN, SOCIAL MEDIA GIANT WANTS TO PROTECT USERS AGAINST DECEPTIVE PRACTICES, THAT’S THE REASON. THIS AS THE COMPANY IS ABOUT TO RELEASE EARNINGS IN LESS THAN AN HOUR. LET’S BRING IN TECH EXPERT LANCE AND CEO AND PRESIDENT PHIL BLANCATO. LANCE, WHAT’S BEHIND THIS?>>FACEBOOK HAS COME THROUGH A ROUGH YEAR AND A HALF WITH THE FAKE NEWS THAT THEY BASICALLY DROVE THROUGH ON THE SOCIAL NETWORK, AND NOW, THEY’RE JUST FUNNY. AND HERE’S THE THING ABOUT CRYPTOCURRENCIES, THERE ARE A LOT OF PEOPLE WHO ARE EXCITED ABOUT IT, BUT I CAN COUNT ON ONE HAND THE PEOPLE WHO UNDERSTAND IT, DEFINITELY NOT THE AVERAGE CONSUMERS WHO ARE LIVING THEIR LIVES ON SOCIAL MEDIA. FOR FANCY LIQUOR AND THINGS LIKE THAT?>>BELIEVE ME, I THINK THEY ARE PICKING BATTLES BECAUSE I’VE SEEN LOTS OF GARBAGE ADS ON FACEBOOK TO THIS DAY, BUT BECAUSE THERE IS SO MUCH HEAT AND INTEREST AROUND CRYPTOCURRENCIES, THEY’RE JUMPING ALL OVER IT. LIZ: PHIL, DOES THIS HURT THE REVENUES IN THE FUTURE IF BITCOIN GAINS MOMENTUM. I KNOW BILL LEE AND SARGE SAID THEY’RE NOT INTO, IT SOME OF US ARE OLD FOGIES AND NOT READY TO EMBRACE BITCOIN, WHAT IF IT IS SUCCESSFUL AND THEY’RE NOT ALLOWING ADS FOR IT?>>I HAVE TO AGREE, I DON’T THINK THERE IS ROOM TO PLAY WITH THE SPACE YET. UNCERTAIN, AND PUT THE AVERAGE RETAIL PERSON IN THAT SPHERE IS NOT A GOOD IDEA. THEY HAVE NO UPSIDE FROM THIS. NO BENEFIT. I DON’T BLAME THEM, IT’S A GOOD MOVE. LIZ: HERE COME THE BLACK HELICOPTER THEORIES. WE KNOW THE FIRST BITCOIN BILLIONAIRES ARE THE WINKLEVOSS BROTHERS WHO SUED MARK ZUCKERBERG SAYING THEY WERE THE ORIGINAL IDEA GUYS ON FACEBOOK AND THEY’RE BILLIONAIRES, TOO. ARE THEY HOLDING A GRUDGE?>>THEY’RE LOOKING REALLY, REALLY SMART RIGHT NOW. MARK ZUCKERBERG IS WALKING AROUND LIKE A WOUND PUPPY TRYING TO EXPLAIN HIMSELF AND EXPLAIN FACEBOOK, THAT’S WHAT THIS IS ABOUT, THAT THEM WORRY, WE’RE NOT GOING TO PUSH FORWARD POTENTIAL SCAMS LIKE, THAT’S INTERESTING ABOUT CRYPTOCURRENCY, THE FACT IT’S NOT TIED TO CENTRAL GOVERNMENT, REGULATING THE SAME WAY. LEARN ABOUT THIS IF THEY’RE ALLOWED TO. LIZ: TELL THAT TO THE WINKLEVOSS BROTHERS WHO MISSED OUT ON BILLIONS WITH FACEBOOK.>>IF THEY FOCUS ON THE SOON-TO-BE TWO BILLION CUSTOMERS THAT THEY HAVE, THAT’S WHAT THEY’VE GOT TO FOCUS ON. GETTING CAUGHT UP IN THIS, IN THE BLACK HELICOPTER, THEY DON’T NEED TO HAVE A MISSTEP. LIZ: I GET THAT, HE’S GOING TO BE ASKED ABOUT IT IN THE EARNINGS NUMBERS. HOW DO YOU THINK THEY WILL DO TODAY ESPECIALLY CONSIDERING, WILL WE SEE AFTEREVENT OR AFTERSHOCK FROM THE CHANGING OF THE NEWS FEED?>>I DON’T THINK SO. WHERE PEOPLE GET INFORMATION TO MAYBE BUY A PRODUCT, MORE IMPORTANTLY, THE CENTRAL HUB OF THEIR LIVES AND MORE USERS THAN EVER. GREAT NUMBERS AND PEOPLE ARE IMPRESSED THAT THE NEW ISSUE IS THE BY PRODUCT. THE REVENUE IS THERE. LIZ: 15 SECONDS, QUICK THING ON VIRTUAL REALITY AND OCULUS. FACEBOOK TO HAVE BUT NOT PART OF THE CORE BUSINESS, NOT WHAT

8 thoughts on “Facebook is banning all ads promoting cryptocurrencies”

  1. Lots of scammers trying to ride the blockchain bangwagon. Bitcoin or bust, all i have to say. 9 billion in trading a day is no joke.

  2. Does George Soros support Bitcoin? George Soros said in Davos that Facebook and Google will go under, I would not be surprised if this is his latest scam. He hates the USA and all democratic countries. It may damage our central government so the expert says. We are just recovering and growing our economy. Say no to Bitcoin, MAGA!

  3. Many ICO’s are scams. However, this clip is not good for the newbie who doesn’t know anything. I have many good news on cryptocurrency, today, and none of it through mainstream media.

  4. If it wanted to protect its customers then why did mark fuckinberg wouldnt be talking to china on the best way to censor American citizens. Screw facebook, youtube, twitter and instagram. Got rid of facebook long ago.

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