The latest collapse of cryptocurrencies prices, are mostly based on FUD, backed by the news that major internet players as Facebook, Google and Twitter are forbidding marketing of cryptocurencies on their add platforms.
The true story is that these giant medias are not against blockchain technology, but they are actually supporting a few of the best projects like Ethereum and other quality projects backed by the science community.
When you see a title with bold letters TWITTER BANNED ALL CRYPTOCURRENCY!!! you know that it’s classic FUD and fake news, intentionally created for certain individuals to make huge gains on the backs of small investors and miners.
Because Twitter is not banning cryptocurencies and their channels, it will only ban fraudulent and deceptive ICO marketing and their token sale.
Why did Facebook, Google and Twitter start a war against ICO and token sale?
Because in this crypto wild west every kid and bozo with a little money starts creating tokens and ICO and as the latest 2017 reports show (more than 80%) they only take the money and disappear.
This is not good for this emerging, great technology, and the big players know that if this robbery goes on for a while, very soon all the crypto projects in the eyes of the common people will be seen as ponzi scheme and something that is scary and unsafe to use.
At the end, a few statements of major players and decision makers on crypto and block chain technology :
– Twitter Inc. is joining Facebook and Google in banning advertisements for initial coin offerings and token sales on its social-media platform.
“Advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally,” a Twitter spokesperson said in an emailed statement Monday. “We know that this type of content is often associated with deception and fraud, both organic and paid, and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner.”
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 believed technology would be a decentralizing force.
But today, many people have lost faith in that promise. With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it.
There are important counter-trends to this –like encryption and cryptocurrency — that take power from centralized systems and put it back into people’s hands. But they come with the risk of being harder to control. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.
Arran Stewart blockchain expert and co-owner of blockchain recruitment platform
“The recent bans on cryptocurrency and ICO ads is a positive thing for this growing technology. The decision will not hold back the success of cryptocurrencies and ICOs. Instead, it will protect less knowledgeable users from fraudulent or misleading investments.”
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