For once, we actually have a pretty clear indicator of what is causing Bitcoin to puke up it's dinner from last night.
That information comes in the form of an announcement from undisputed worldwide advertising king and juggernaut, Google, which has just stated that they will no longer allow advertising for cryptocurrencies, ICOs, or "other speculative financial instruments."
Power crystals, horoscopes, psychics, and flat-earthers are still OK apparently.
Note that this is clearly not a "moral" stand, as Google has nor problem indexing and runnings ads for AshleyMadison, perennial cheater-facilitation website, among a plethora of other nonsense and unverified products.
Apparently, Google thinks its customers are adult enough to be encouraged and facilitated to violate legal agreements like marriage certificates, but apparently they are too childish to decide what to do with their own investments.
Thanks, Google. What would we do without you filtering every last thing we do?
I suspect a possible motivation for this move starts with a "B" and ends with a "rave". If Google puts the "kibosh" on cryptocurrency related content early (ie. before Brave is a threat,) then they can block Brave and any Brave related content and claim it's a violation of the ToS. Clever.
What this looks more like is simply another large corporation, which is effectively a gatekeeper of media access at this point, attempting to protect the "old guard" and prevent any innovation or advancement that could possibly rock the boat...because, you don't want to rock the boat when you are on top of a massively profitable monopoly.
Now, I'll mention as a footnote that with the G-20 coming up, it's possible to attribute this drop (in part) to market repositioning prior to the onset of talks. I'm not really buying it, but you may see this headline, so there it is.
We also have a Radio Station! (click me)
...and a 10,000+ active user Discord Chat Server! (click me)
Sources: Google, CoinTelegraph, ZeroHedge
Copyright: Zero Hedge
I for once welcome Google's decision to protect the general public from crypto scams in the space.
I don't think ads should be promoted anywhere online, it is irresponsible and harmful for all those newbies jumping the bandwagon. It does makes me money though and it will cost me but I have nothing to lose in comparison with all those that just joined crypto the last couple months buying the ATH. Media is manipulating the markets and when I say media I mean private interests invested to crypto for fiat gains like Mccafee and the likes.
This is exciting !
The more they try to suppress crypto the more it will hit them in the face.
New technologies will arise from all this crypto war and Steemit, Investfeed
and many others will be more and more looked like a alternative for people who want freedom of speech.
Google is Mystery Dip buyer too.
Can't say we didn't see this coming.
I hate Google, they do much evil.
It's great that scam ads are blocked, but healthy crypto exchange ads and others are taken down as colateral damage. A blanket ban is never a good idea.
Are we sure that the bitcoin "market" isn't 20 mega owners in a circle jerk???
Hacker Noon: Top 3 ICOs to keep an eye on this Spring
And where does this link go?
Maybe Google is genuinely doing what they would consider a service—it's not like cryptocurrencies are the stablest of markets, and it's failed coins are piling up, along with indictments. Just like the government swooping in to save the day, Google could be doing that, too.
Or maybe Google is trying to hedge off Brave before it can get started. Nothing like good old fashioned gamesmanship to prevent a would be opponent from taking them out through advertising on its own platform, no less.
Or maybe Google doesn't want to support the decentralization of currency or whatever else potentially comes with it because it is in the back pocket of large, centralized government with its own fiat currency and economy.
Or, maybe, because it's an ad platform, it doesn't like the idea of an attention economy springing up, cutting out the middleman and hence their main revenue stream. It's not been that long since they essentially gutted every other form of advertising. Surely they wouldn't want the same to happen to them so soon.
They found out if you play blackjack in vegas you get free drinks and some tits in your face.
No free drinks/tits at the crypto tables. Yet....
Time to start using Yahoo again...
Now let's not go crazy. -snicker- That said, I find duckduckgo a serviceable replacement for searches.
Haha yeah I think the days of using Yahoo are long gone..
We are seeing an all out attack from legacy powers against Cryptos. It will do a lot of damage, but it won't be able to kill the movement.
It isn't over until the fat lady sings...
I think the CNBC misery index is actually used to measure their management's emotions after they read their weekly ratings report.
I think you are right the sharp drop is the noise from Google. Google's position doesn't bother at because there are so many other ways to advertise crypto and advertisers don't get real value from google anyway. The G-20 is probably contributing on a deeper level but I'm not concerned.
Cryptocurrency Can never be stopped!
Don't fear fluctuations.
https://steemit.com/cryptocurrency/@uniqueknowledge/price-fluctuations-more-of-a-necessity-for-investment-than-you-think-cryptocurrency
Great post ! upped and resteemed for more to see !😀👍👍👍
Cryptocurrency Can never never never never be stopped!!!! :)
Lets see what the old guards of the G20 says when they meet and discuss, hopefully Bitcoin is worth their attention, lol.... Lots of narratives for Bitcoin price action
good post!..you might lke my just posted "market" post including bitcoin...buy this weakness.
I dont get why banning ads on Facebook and Google really effects the price at all seriously...
It doesn't but people always want to blame a perceived authority figure.
Ads only really entered the space heavily in mid 2017. They were rampant through the bull run. Yet before then, ads really had no impact on people's view. Now all of the sudden we are going to think it all rests on them..
GTFO of here.
What is taking place is a much needed correction. Projects are realizing EXACTLY where their product sits in regards to value. BTC is no exception. Pumping money into it all wasn't the solution. Now we will see only quality going forward. Many will die and that is OK. Many new comers will rethink their approach. Also a good thing.
If this correction sees all the immature "moon and lambo" idiots out then I consider it all a success.
Wasn’t watching the market but thanks for letting me know I should go see if my limit order tripped 😮!
Do you suppose Google's ban could have been in response to the recent Giza ICO scam that cost investors $2 million?
Welcome to the wild west !
Google and Facebook are trying to stop a blazing fire with a water pistol.
Searching for a better way to transact business without going through stressful and unnecessary government procedures?UNLOCKED! FIVE HIDDEN BENEFITS OF CRYPTOCURRENCY https://steemit.com/crypto/@mattygrace/unlocked-five-hidden-benefits-of-cryptocurrency#comments
1.jpg)
Keep on crypto baby ~
It's interesting how maybe this could have a reverse affect. Maybe, this is just me being an irrational optimist but there is always the possibility that the more companies/government make a big deal of crypto the more people start researching crypto and realize that there is a huge potential in this world. The only comparison I can make is during the Arab Spring when the Egyptian government shut off the Internet and that strategy could not have backfired any worse as people ended up going to the streets to see what was going on. Obviously there are some major differences in this comparison but its always interesting to see how major powers cannot control and unstoppable force, which is what I think crypto already is.
Google banning adverts of crytpocurrencies is a step in the right direction, studies reveals that 45% of ICO'S in 2017 have failed, with investors losing huge sum of money, most of these ICO'S had their advert running online and it was as if those companies promoting them online knew of the real intend of their sales
It will not be that Google wants to enter the market and that's why you want the price to go down?
In my opinion if they get to remove the ads on the ICO and Cryptocurrency what will happen is that Google will lose money, so I think that decision is a mistake for Google.
I wonder what took them so long to realise their business is threatened by crypto world. I guess banning the adds of crypto is just the beginning.
Yes. Google is just dancing to a tune we'll hear more of: government control. But I do think more folks will come running to Steem for Freedom. Oh, but... ahem... I am one of those nutty astrologers. Really. Frankly, I never would have dreamt I'd do something whacky as that. Anyway here I am reading your post... maybe there is hope for me! Hmnnn... I bet you didn't enter @ jerrybanfields paranormal contest either!! Did you know that in Bitcoins astrological chart it indicates heavy interference by governments? Yep right there in the stars! Many blessings.