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Facebook is banning all ads promoting cryptocurrencies

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Re: Facebook is banning all ads promoting cryptocurrencies

#31

Post by agravier »

meowface wrote: post #24

I am sure real, legitimate ICOs must exist, but I have yet to find one. Can anyone point to one that they strongly believe is legitimate?

Legitimate as in lawful? Maybe https://blockmason.io/? They have been quite keen on justifying that their ICO is lawful by publishing their legal advice. e.g. (PDF) https://blockmason.io/Blockmason_2017_12_19_Supplement.pdf and https://blockmason.io/Ethereum_Opinion_2017-08-14.pdf

Re: Facebook is banning all ads promoting cryptocurrencies

#32

Post by chrisco255 »

meowface wrote: post #24

I am sure real, legitimate ICOs must exist, but I have yet to find one. Can anyone point to one that they strongly believe is legitimate?

Not tracking active ones, but participated in Qtum ICO. Has successfully launched and delivered. As a smart contract platform, Qtum itself has launched several dapps which were offered over ICO: https://eco.qtum.org/dapps

MakerDAO (https://makerdao.com/), Status (https://status.im/), BAT (https://basicattentiontoken.org/), many, many others.

Re: Facebook is banning all ads promoting cryptocurrencies

#33

Post by jeeyoungk »

pavel_lishin wrote: post #30
jeeyoungk wrote: post #19

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.

Sorry, forgot to add that I don't know any Chinese and I don't have any reason to believe that Facebook thinks that.

Re: Facebook is banning all ads promoting cryptocurrencies

#34

Post by dr_win »

fwdpropaganda wrote: post #6
TheAdamAndChe wrote: post #3

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?

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?

Intrinsic value of bitcoin tokens is the ability to use them to append a hash value into immutable eternal excel spreadsheet with no censorship possible. You can use this to prove some data existed at some point in time (proof of existence) or that some data was published (proof of publication). With these primitives you can build some interesting digital infrastructure (ledgers, smart contract platforms, etc.). That is exact equivalent to industrial use of gold as gold's intrinsic value.

Re: Facebook is banning all ads promoting cryptocurrencies

#36

Post by anderspitman »

bhauer wrote: post #10
fwdpropaganda wrote: post #6

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?

I forget who said it, but I once heard something along the lines of, "if we get into a situation where the value of gold goes through the roof, it'll be because things have gotten really bad. And if they're that bad people are going to realize pretty quick that they don't want gold. They want water bottles and gasoline."

Re: Facebook is banning all ads promoting cryptocurrencies

#37

Post by hw »

fwdpropaganda wrote: post #6
TheAdamAndChe wrote: post #3

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?

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?

> why don't you see ads for other commodities, like rice or iron

No one buys rice or iron on Facebook, but Bitcoin is mainstream enough where the Facebook audience is a good target.

> Well one difference is that bitcoin has no intrinsic value, ie, it's online gambling in disguise

While there are cryptocurrencies that are pump and dump and scams, there are legit ones that are being used as actual currency in transactions for actual products all over the world. I can buy coffee with cryptocurrency, but I certainly won't be able to pay for it with gold. Calling bitcoin 'online gambling in disguise' is like calling the stock market and forex trading 'online gambling'.

Re: Facebook is banning all ads promoting cryptocurrencies

#38

Post by Theodores »

I am not a fan of 'the city' and I am not a Facebook user. However, today Facebook have earned a small bit of respect from me. As for 'the city', regulation now seems a very good idea, sure we have all been ripped off by the fat cats of 'the city', however, the toxicity of traditional investments is along the levels of 'sweets laced with sugar' instead of 'heroin laced with fentanyl' which seems to be what the ico-scam-coin-nonsense is peddling.

I would like to see a crypto-addict brain under a MRI scan to see if those graphs in tiddlywink prices light up the same bits of the brain that physical addiction to a chemical makes.

In some way this story reminds me of when Lance Armstrong was discovered to be cheating. Some people wouldn't believe it until he came on Oprah and spoke about a few things. The evidence was overwhelming and yet there were some devoted fans that held out. They didn't even have skin in the game (taking PED's) but still they wanted to believe the comeback from cancer fairytale. It did not matter to them that all of his team mates thought him to be toxic, dedicated fans held out.

I don't think it is time to tease crypto-obsessed-people but once they have lost all their monopoly money and tiddlywinks then I am sure they will start to get the story. Fear and greed gets the better of people, so I am looking forward to on-going 'so where is your lambo then, did you leave it on the moon'? comments. Shame I didn't quit my job and spend all day investing in tiddlywinks tethered to monopoly money. Oh well.

Re: Facebook is banning all ads promoting cryptocurrencies

#40

Post by downandout »

wmf wrote: post #39
whataretensors wrote: post #35

Someone should make a cryptocurrency social platform that rewards it's users for sharing content and attention. Like the steemit of facebook. Anyone know of any projects like this?

[deleted; I didn't read the parent carefully]

Cynical much? This kind of response is one reason I rarely mention ideas on HN. They all seem to be met with instant criticism and/or suspicion.
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