Live data from Hacker News

Facebook is banning all ads promoting cryptocurrencies

recode.net

151–160 of 254 posts

Re: Facebook is banning all ads promoting cryptocurrencies

#151
post #72

Earlier quoted context omitted.

Exploration vs exploitation. If the ad has a high CPC and there isn't enough targeted inventory, it's worth showing it to random folks to see if a new target market can be identified.

> there isn't enough targeted inventory Did I just get called 'inventory'? God, that's the next step after "human resources"...

Still better than "natural resources"

Re: Facebook is banning all ads promoting cryptocurrencies

#152

Earlier quoted context omitted.

Governance is lacking in those countries. And if you look at levels of corruption it it significantly higher. So it's completely legitimate to be wary of businesses run from those countries.

That's a fair enough response. Still if someone on here said you should be wary of businesses run from China or India (which have the same issues), I don't think the response here would be so cordial.

Are you kidding? How would a US person possibly dream of enforcing a court judgment against any China entity?

Re: Facebook is banning all ads promoting cryptocurrencies

#153
post #148

Earlier quoted context omitted.

Ycombinator has invested in a few, including Request Network: https://request.network

YC is invested in Coinbase, so "YC has invested" doesn't signal quality.

You probably don't even know what Coinbase is.

Re: Facebook is banning all ads promoting cryptocurrencies

#155

these news sent the bitcoin charts below the magical $10000, a second time after the "crash that wasn't", two weeks ago will we finally see a real dramatic crash, or will it just fade away? as much as I feel sorry for those that were duped, some part of me is urging for the drama.

"these news" didn't do anything. It was due to tether and South Korea.

Re: Facebook is banning all ads promoting cryptocurrencies

#156

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?

Commodities actually is not exactly the safest area to invest in if you go to the wrong people. Gold coins for instance have their fair share of fraud-peddlers. (https://www.aarp.org/money/scams-fraud/info-2016/gold-coin-i...)

My best guess is, based on their guidelines (https://www.facebook.com/policies/ads/), sure, Facebook would be okay with any gold advertisements from accredited commodities investment institutions.

On the other hand, advertisements from certain random shady gold coin dealers? Honestly, Facebook should be weary of advertisements in this space too, if they aren't already.

If there was a way for cryptocurrency to come from an "accredited institution" with "sufficient disclosure" of various metrics and safeguards typically used in retail investing, I would think Facebook would be okay with it. It's more that a lot of cryptocurrency (really unfortunately considering how fascinating the tech is) feels shady and/or scam like at the moment.

Re: Facebook is banning all ads promoting cryptocurrencies

#157

I haven't seen these ads, but this is probably the right move. The irony is that Facebook has built its perceived value to advertisers, investors, businesses, and audience alike on its ability to use deep learning to process all these posts and images and ads and understand what they mean. But here they are explicitly admitting they are unable to do that. It's a healthy thing to do. But it's interesting that it's fin…

There is a difference between understanding the content (e.g. ICO) and understanding what happens a few weeks after the content is interacted with (e.g. someone runs off with the money). The first is doable, the second requires prescience.

Re: Facebook is banning all ads promoting cryptocurrencies

#158
post #112

Earlier quoted context omitted.

> rewards it's users for sharing content and attention You mean spamming content?

It's possible to tell the difference between genuine, authentic sharing, and automation. Rewarding the right behavior will make spam go away.

You're right! It's absolutely possible to tell the difference. And when it's known, bad behavior can be punished and good behavior rewarded.

What do you think it takes to tell this difference with a high degree of reliability (>4 nines) at scale (>1000/s)? How about in an environment where people are strongly incentivized to find and exploit the weaknesses of your approach? Is it just maybe possible that this might not quite be handwave-it-away trivial? Facebook has had a shocking level of success in cutting down spam with their investments in punishing bad behavior and rewarding good behaviour.

Thank you for your thoughts. You're completely correct! It's possible to tell the difference, and rewarding good behavior will drive out bad actors.

Re: Facebook is banning all ads promoting cryptocurrencies

#159

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?

There are a number of legitimate ICOs, unfortunately there are many more scammy ones. Quantstamp is an example of a legitimate one out of Y Combinator.

Re: Facebook is banning all ads promoting cryptocurrencies

#160
post #148

Earlier quoted context omitted.

YC is invested in Coinbase, so "YC has invested" doesn't signal quality.

You probably don't even know what Coinbase is.

For us onlookers could you perhaps attempt to elucidate the difference in your points of view rather than slinging insults?
Post reply on HN