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RE: Facebook Announces Ban on Crypto Related Ads..Intimidated by Steemit??

in #facebook7 years ago

Interesting position they're taking. I can see it being portrayed as protection of their users, which i suppose is a reasonable interpretation.
That all being said, Facebook i feel is under growing threat from the superior value proposition of crypto backed social media platforms a-la Steem.
They've been taking user content, monetizing it via advertising and pocketing the profits for years. Any attempt to convert to a Steem style monetization model will be met with skepticism by the public regarding 'why now?', and would also be a difficult sell to shareholders - as profits would be directed outwards to users rather than inwards and upwards to the company's bottom line.