Why is Google Banning Cryptocurrency Ads?
Since we know google we also know that they do not do anything with some monetary model in mind. So now they wish to protect its users from cryptocurrencies ?
I agree there are many that take the cryptocurrencies to levels where they should not go but so are many other industries from lawyers to doctors .
But it seems that Google sees cryptocurrency as an online threat and wishes to protect its users from such threats. Beginning this month google has added new restrictions to the rules of advertising on their network. It starts with Binary options and synonymous products. Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice).
The underlying reason for this for google is that there is for the crypto currency no regulatory body to ensure that it is not being used by criminals for the purposes of money laundering or trafficking of unlawful goods.
The fact that that is also one reason as to why the cryptocurrencies are there to stay must for sure not elude them , and yet…
Google believes that as in accordance to the Stasis Group , 80% of initial coin offerings were somehow fraudulent, and this was the reasoning behind Google’s recent decision not to advertise any products related or resembling cryptocurrency or altcoins .
This has not been received well by everyone an for good reason. It instantly put all cryptocurrency in or under one umbrella and one that google deems to be a fraud.
Many believe and have expressed that google has the resources and tools to adopt a more targeted approach as it does not make sense to blackout an entire industry because of some used t as scams - keep in mind that a lot of other Services & Tools offered etc, are also scams but readily offered through advertising. Where do you draw the line ?
We as many other think there is an alternative motive one that actually is way more worrisome.
Google is investing a lot of its own money in blockchain technologies, some experts believe this move may not be about protecting Google’s users.
Some believe that Google has other ideas, and that the ban is more about protecting its own interests. I have nothing against google in general as they are a business and a business in making money, their interest will ALWAYS come first anyone that believes differently is very naive. But this is ok, we choose to use their services and be part of their product. What is
It has been reported that Google holds the number-two position among big investors in blockchain companies, having a total of 6 investments that span the services of private enterprises and merchants.
It looks like that that Google hopes to profit largely from its investments in blockchain technology and this industry.
Phillip Nunn, the CEO of Blackmore Group, told Real Business that he suspects Google’s ban was enacted to facilitate the company’s potential plans of introducing its own cryptocurrency, and unfairly removing all other cryptocurrency advertisements, in order to give Google the upper hand.
This is the part where we should be more concerned and actually think this through, as this means something much more sinister then just cryptocurrencies. This is market manipulation on the largest scale.
Even with this I can find myself to be somewhat forgiven only when it is out in the open.
What they essentially doing now is punishing legit and proper business for possible future gains for them selves under the claim that they are protecting their users...