Facebook is banning all ads promoting cryptocurrencies • Hacker News Board

Re: Facebook is banning all ads promoting cryptocurrencies

#161

Post by buttcoinslol » Tue, Jan 30, 2018, 11:13 PM UTC

tensor wrote: post #20

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?

The USD is no longer backed by gold and you could say it also has no intrinsic value.

It's backed by an army and a government, along with the trust of the entire world. These things ensure value a lot better than being back by gold does.

Re: Facebook is banning all ads promoting cryptocurrencies

#162

Post by yorby » Tue, Jan 30, 2018, 11:14 PM UTC

up next: Facebook is starting it's own currency...

Re: Facebook is banning all ads promoting cryptocurrencies

#163

Post by draw_down » Tue, Jan 30, 2018, 11:16 PM UTC

TeMPOraL wrote: post #94

wpietri wrote: post #44

Earlier quoted context omitted.

I think that's close. Scam artists slaughter the sheep, while Facebook would rather keep shearing them.

As a sheep, I would prefer being shorn rather than slaughtered, so I'm with Facebook on that one.

I think the point is that it’s not really about what the sheep want.

Re: Facebook is banning all ads promoting cryptocurrencies

#164

Post by mliker » Tue, Jan 30, 2018, 11:16 PM UTC

HugoDaniel wrote: post #59

They are about to launch their own coin[0] "For example, one of the most interesting questions in technology right now is about centralization vs decentralization. A lot of us got into technology because we believe it can be a decentralizing force that puts more power in people's hands. (The first four words of Facebook's mission have always been "give people the power".) Back in the 1990s and 2000s, most people beli…

> There are important counter-trends to this -- like encryption and cryptocurrency ...

How does this translate to "they are about to launch their own coin"?

Re: Facebook is banning all ads promoting cryptocurrencies

#165

Post by aussie1233 » Tue, Jan 30, 2018, 11:18 PM UTC

This is worrisome, mainly for one reason. Maybe one of the many ICOs might turn out to derail Facebook's centralised + ads approach. With this Facebook is basically attempting to prevent competition - or am I totally off?

Re: Facebook is banning all ads promoting cryptocurrencies

#166

Post by antvei2 » Tue, Jan 30, 2018, 11:25 PM UTC

sideshowb wrote: post #160

antvei2 wrote: post #153

Earlier quoted context omitted.

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?

Exactly.

Re: Facebook is banning all ads promoting cryptocurrencies

#167

Post by paxy » Tue, Jan 30, 2018, 11:26 PM UTC

aussie1233 wrote: post #165

This is worrisome, mainly for one reason. Maybe one of the many ICOs might turn out to derail Facebook's centralised + ads approach. With this Facebook is basically attempting to prevent competition - or am I totally off?

I think it's more due to the fact that most ICOs are fraudulent.

Re: Facebook is banning all ads promoting cryptocurrencies

#168

Post by aylmao » Tue, Jan 30, 2018, 11:27 PM UTC

aussie1233 wrote: post #165

This is worrisome, mainly for one reason. Maybe one of the many ICOs might turn out to derail Facebook's centralised + ads approach. With this Facebook is basically attempting to prevent competition - or am I totally off?

IMO you're totally off. ICOs and the ad market are pretty tangential.

Re: Facebook is banning all ads promoting cryptocurrencies

#169

Post by aylmao » Tue, Jan 30, 2018, 11:32 PM UTC

CryoLogic wrote: post #11

I am guessing it has something to do with the fake ICO's taking advantage of uneducated users (see Vyral for a great example). But Facebook has made their entire fortune taking advantage of uneducated users. So maybe they don't want competition?

???

This is improbable for two reasons:

1. There is no reason why a user buying into an ICO should be correlated with it being on facebook.

2. If a user gets scammed by an ICO that should in no way affect if/how they use services that are free to them, facebook included.

Re: Facebook is banning all ads promoting cryptocurrencies

#170

Post by aylmao » Tue, Jan 30, 2018, 11:34 PM UTC

HugoDaniel wrote: post #59

They are about to launch their own coin[0] "For example, one of the most interesting questions in technology right now is about centralization vs decentralization. A lot of us got into technology because we believe it can be a decentralizing force that puts more power in people's hands. (The first four words of Facebook's mission have always been "give people the power".) Back in the 1990s and 2000s, most people beli…

This would be a pretty interesting move actually. Something like Brave's BAT comes to mind.