Google Cryptocoin Ban – It’s a Good News/Bad News Thing
When the news broke on January 30th that Facebook was banning cryptocurrency ads the response was mixed but mostly neutral. The Google Cryptocoin ban announced today has started a firestorm of debate and backlash. Some comments come from people who have sworn to never use Google again as others declare censorship, centralized control of crypto and the list goes on. Cryptocoin critics, on the other hand, see this a very good thing and applaud the Google cryptocoin ban on advertising that takes effect on June 30th.
The good news about a Google cryptocoin ban on advertising is that less and less people will be cheated, swindled and otherwise scammed. With New Jersey clamping down on Steven Seagal’s biitcoin (yes, spelled with a double i) and South Carolina stepping in to stop Genesis mining in their state, it’s become increasingly clear that the money to be made in crypto – either legitimately or not – is worrying regulators. This is understandable given the recent Bitconnect fiasco, the USI Tech debacle and the recent cryptoexchange hacks. Government, at the end of the day, is there to help and protect their citizens. With hundreds of millions of dollars being stolen by hackers, many millions more acquired through cheating investors via false and fraudulent means and a seemingly never-ending flow of new investors and new investment opportunities, something’s got to be done about this. Similar things happened with various stock markets leading to the SEC, the CFTC and other government agencies stepping in to regulate markets and make sure that if an investor loses their money it happens “fair and square” – not through theft or ponzi schemes or what have you.
Now for some bad news about the Google cryptocoin ban. With Google joining Facebook prohibiting advertising of ICOs, cryptocoin, etc. 70% of the online advertising market will be closed off to anyone launching an ICO or any other cryptocurrency endeavor. This will severely limit how much money an ICO will raise since far fewer people will be able to hear about it. Ditto for any new cryptocoin exchange attempting to attract clients or even a perfectly legitimate cryptocoin trying to build their business. Anyone seeking to promote an ICO or advertise a cryptocoin will be limited to the cryptocoin websites (like this one) that are out there. That’s not entirely bad news because it shifts the cryptocoin market more into its own ecosytem which could end up being a very good thing.
If you’re interested in advertising an ICO or cryptocoin promotion of any kind check out our advertising rates.