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Facebook is banning all ads promoting cryptocurrencies

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Re: Facebook is banning all ads promoting cryptocurrencies

#21

This is weird to me. Does Facebook currently ban advertisements for commodities like gold? If no, then what's the difference between advertising for bitcoin and advertising for gold?

Both gold mining and coin mining are environmentally dirty industries, but at least gold can used for useful things like conductors, reflectors, and jewelry. The only thing you can fashion out of bitcoins is entropy.

Re: Facebook is banning all ads promoting cryptocurrencies

#22

This is weird to me. Does Facebook currently ban advertisements for commodities like gold? If no, then what's the difference between advertising for bitcoin and advertising for gold?

The problem aren't ads for Bitcoin, its ads for Shitcoin scams.

Then why not just ban Shitcoin scams?

Re: Facebook is banning all ads promoting cryptocurrencies

#23
post #10

Earlier quoted context omitted.

Well one difference is that bitcoin has no intrinsic value, ie, it's online gambling in disguise. I believe that Facebook currently bans ads for online gambling. Don't agree? Ask yourself, why don't you see ads for other commodities, like rice or iron? Because there's no money in that. So how come there's money in ads for bitcoin? Could it be because bitcoin is not actually a commodity?

I hear what you're saying, but am compelled to ask: what intrinsic value does gold have?

There are a ton of industrial uses for gold:

https://en.wikipedia.org/wiki/Gold#Other_applications

Spacecraft shielding is my favorite

Re: Facebook is banning all ads promoting cryptocurrencies

#25

This is weird to me. Does Facebook currently ban advertisements for commodities like gold? If no, then what's the difference between advertising for bitcoin and advertising for gold?

Facebook does ban cash for gold schemes. No one advertises selling gold regularly so it's not an issue.

Re: Facebook is banning all ads promoting cryptocurrencies

#28
Assuming rumours FB is developing their own cryptocurrency, along with Amazon and Google, as has been suggested on various forums, isn't there a risk here for them?

Banning potential competitors in what you could generously describe as the dawn of the next internet (in many ways the crypto wild west is v similar to early dot com days, complete with all the shysters and con artists) seems unethical and may bring up anti trust issues eventually?

Re: Facebook is banning all ads promoting cryptocurrencies

#29
post #13

People should look at FB for what it is. A big shopping mall where everyone goes to walk around and hang out. Don't like what goes on in FB. Stop using it.

What a weirdly tangential thing to point out given the content of the article. Is it possible to write a post on HN that isn't pointlessly critical of Facebook, or have we dropped the facade of "intelligent discussion" when it comes to things that the hivemind doesn't like?

> Is it possible to write a post on HN that isn't pointlessly critical of Facebook, or have we dropped the facade of "intelligent discussion" when it comes to things that the hivemind doesn't like?

I don't represent or consult any hivemind when I look at corporations, especially the winky-smiley "let's connect the world!" with jaded cynicism – but my conscience.

Re: Facebook is banning all ads promoting cryptocurrencies

#30

Finally. I've been intentionally clicking ICO ads so that I get targeted for more ICO ads. It's been interesting. - Many of them have the most buttery smooth introduction video that was just so compelling to stare at. - Many has business lines like, "The total market for car loans / social media advertisement / game currency is N trillion... - The "team" page for them are mostly Russian / Eastern European. Some of th…

> Do they expect people to land on those pages and drop money without reading anything?

Huh? I assume those are just aimed at people who speak/read the language.

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