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Twitter Moves To Ban Crypto Ads (techcrunch.com)
An anonymous reader shares a report: Twitter is the latest social service to boot out cryptocurrency advertisers. The company told Reuters it will be launching a new policy this week to prohibit the advertising of token sales/initial coin offerings (ICOs), and crypto wallet services. Ads for cryptocurrency exchanges will also be banned -- with some limited exceptions. Facebook announced a ban in January, while Google said earlier this month that it will ban them from June. In a statement, the company said, "We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally."
"hey, give me money and I will give you a token that has collectable (sic) value because I say it does"
How is this substantially different from the NYSE? Other than widespread acceptance of the NYSE?
deleting the extra space after periods so i can stay relevant, yeah.
The main difference is that the gold peddlers on TV are regulated, you can file a complaint if you get scammed, and they will be in deep shit. Much of this doesn't apply to ICOs because they are not asking for money, they're asking for cryptocurrency.
They say "here's a bullshit token we've conjured out of nothing, we say it's going to have some value, and we say its current value is X and will certainly grow, send us 1 ETH (Ethereum) minimum for Y tokens".
You basically send a virtual coin and receive some virtual tokens. None of this is properly covered by law because none of those cryptocurrencies have an intrinsic value or a value which is backed up by something. They're just funny money.
Disclaimer: I am a cryptocurrency believer, I think the cryptomarket will evolve and become part of our lives in a few years, but right now it's a Wild West and ICOs should be outright banned until they are properly covered by law.
...gis sdrawkcab (usually not responding to ACs; don't bother posting as AC)