Facebook, Google, Twitter: Why Social Networks and Ad Platforms No Longer Tolerate Cryptocurrency?

In the first quarter of 2018 many social networks and search engines nearly with one accord announced they would ban ads related to cryptocurrency, ICO, wallets, digital currency services and other.

Google plans to enforce that ban starting June, 2018. The company has changed its ad policy and stated the necessity of such actions in their annual safety and security ads report. Scott Spencer, Google`s director of sustainable ads, told CNBC that the company doesn’t have a crystal ball to know where the future is going to go with cryptocurrencies, but they have seen enough consumer harm to approach that issue with extreme caution.

In 2017 the company had to ban more than 3 billion ads due to the breach of Google advertising rules, whereas in 2016 it was only 1.7 billion. Interestingly, the parent company Alphabet that owns Google corporation makes more than 80 percent of its total revenue from advertising, so obviously strict ad rules and safe ecosystem is very important.

Facebook has not stayed away from crypto-ban. The company claimed digital currencies are “financial products frequently associated with misleading or deceptive promotional practices”. One of Facebook’s ad tech directors Rob Leathern wrote that these approach is not final and can be reconsidered depending on how the situation will be changing. Interestingly, at least to investors at Facebook board of directors – Marc Andreessen and Peter Thiel – are known to be quite active cryptocurrency backers.

Actually, there are not only crypto-related things facing these restrictions. Binary options ads have also been banned. A binary option is a financial option in which the payoff is either some fixed monetary amount or nothing at all, depending on a particular performance of parties.

Nowadays Google and Facebook are one of the largest online advertising platforms, so the decision to ban all crypto-related ads has already influenced the cryptocurrency industry and will continue to do so. The digital currency market has been facing recession and these news are likely to cause even more harm to many projects. On the other side of the barricade Google will probably miss some profit too, however, the company has not reported on that issue yet.

Twitter also joined that anti-crypto march. The company announced the ban of all ICO and token sale-related advertising and accounts. The same measures were introduced by media-giant Snap Inc. that operates a popular multimedia messaging social network SnapChat.  

So, these global attack on digital currencies aims to safe users from untrustworthy, scam and fraud projects, that have really infected the market and use social networks resources to spread their advertising. The ban will certainly become another serious threat to the cryptocurrency market that has already been doing not very well. However, this policy may also eradicate crypto-fraud and as follows, make the cryptocurrency market more reliable and trustworthy, attracting even more people to really deserving projects.

Subscribe to The Coin Shark news in Telegram: https://t.me/thecoinshark

Japan Released New Rules In Crypto Margin Trading

Japan is a progressive country in terms of economy, as well as cryptocurrency regulation. This time Japanese financial authorities have released a new set of rules regarding crypto margin trading.

Margin trading is a strategy that allows a trader to buy more stocks than you can afford on money borrowed from a broker (similar to loan).

The Cabinet of Japan approved draft amendments to Japanese financial instruments and payment services laws on Friday. In fact, they will limit leverage in virtual currency margin trading at two to four times initial deposits. Such restrictions are a common practice in foreign exchange trading.

All crypto exchanges throughout the country are bound to get governmental registration. This type of registration will differ from that adopted in 2017, which was mostly focus on preventing money laundering. However, these rules make exchange operators be monitored in a way similar to securities traders to protect investors.

These crypto exchange operators will be classified into categories to differentiate those who involved in margin trading from those who issued ICO tokens. This will help to distinguish unsavory offerings that are similar to frauds or Ponzi schemes and protect investors from losing their money. The new rules will come into force in April 2020. All margin cryptocurrency exchange operators have to be registered within 18 months of that date.

Such a time limit is set to take down unregistered “quasi-operators” which conduct operations without governmental approval. A senior FSA official said:

“We intend to motivate operators to do what they can to become registered.”

We remind you

Japan’s Biggest Bank Is Not Going To Create Its Own Cryptocurrency: Fake News Is Not Confirmed

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Google Has Developed a Helper Application for People with Limited Vision

Google has introduced the application Lookout, which will be useful for people with poor eyesight. This application “sees” surrounding objects and names them with the help of a smartphone camera. At the moment, only residents of the USA can use this application.

Source: https://www.blog.google/

Lookout is a fairly universal assistant, as it can recognize various objects: traffic signs, bar codes, text, money, etc.

Lookout can work in three different modes:

  • quick read;
  • explore;
  • shopping.

In the “quick read” mode, the program doesn’t know how to recognize objects, but only text, which is written on them. In the “explore” mode, the application recognizes those objects that fall into the camera lens of a smartphone. The new product from Google is able to voice what it sees, count the distance to objects, as well as make various sound signals. The “shopping” mode activates the ability to recognize price tags, barcodes, and QR codes.

The user has the ability to set the sensitivity of the application himself. For the convenience in using, developers advise to put the phone in a breast pocket or hang it around the neck, the camera forward. For the correct work of the application, the camera of the phone must be directed to the objects that need to be recognized. Interface management is implemented through gestures on the fingerprint scanner.

It is worth noting that the developers stated that their creation is not 100% working yet and asked the users to report about any errors that occurred.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The New Zealand Mass Shooting Video Goes Viral: Major Social Media Platforms Are Unable to Handle Terrorist Content

The whole world is in terror after a horrible act of violence which took place a few days ago in New Zealand. If you haven’t heard already, here is a recap of what happened on that terrible day.

A 28-year-old Australian man named Brenton Tarrant committed a massacre in two mosques in the town Christchurch located in New Zealand. The terrorist killed 49 and wounded 42 people. While doing so, he was streaming the whole process on the social network Facebook.

Before the attack, Tarrant posted a manifesto, which was 74 pages long. In the document, the terrorist proclaimed himself an “ethno-nationalist eco-fascist.” He expressed inexplicable hate towards people of different religions, for example, Muslims and Jews, and towards immigrants who came to Australia and New Zealand.

The failure of social networks

During and after the act of terror, it became clear that social networks are unable to control such content. The 17-minute-long was first uploaded to Facebook, then re-uploaded to YouTube.

No matter how hard the developer teams tried to delete the horrific video from their platforms, they failed to do so. Whenever one copy of the video was deleted, three more popped up somewhere else.

Google (that owns YouTube) and Facebook have been applying smart technologies in order to track down and eliminate all the content related to the Christchurch massacre, however, the video can still be found in the web.

Shocking, violent and graphic content has no place on our platforms, and we are employing our technology and human resources to quickly review and remove any and all such violative content on YouTube,” claimed the representative of the platform.

The public response

People have divided into two camps. The first ones believe that such horrific content should be eliminated from the Internet. They make statements that the authorities and social media management should restrict hate speeches, manifestos of fascist nature and violent videos.

The other camp stands for freedom of speech. They also claim that the blocking of terrorist accounts on social media may make it more difficult to track them down and prevents shootings, bombings etc. For instance, the Internet correspondence of two Florida students helped to prevent another school bombing just a few days ago.

Despite many arguments, mostly everybody agrees that such terrible and unspeakably cruel acts of violence, deprived of a single hint of humanity, should never be displayed like they were during the New Zealand massacre.

Facebook and other platforms are still working hard to find and delete all the videos of the act of terror and block the corresponding accounts.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Winklevoss’ Brothers Said “Crypto Doesn’t Need Rules”, What About Crypto Companies?

Winklevoss twins are one of the most influential crypto personalities in the modern world. They are multi-millionaires with their own exchange – Gemini – and own dollar-pegged Gemini coin. It is no secret that the brothers have supported crypto since the beginning of it, but now they promote crypto regulation which confronts with the idea of crypto as well as with their billboard slogans. What happened?

Crypto Needs Or Doesn’t Need Rules

The twins are known for deconstructing the stereotypes and the myths that surround crypto in the public. They want to change the image of crypto that has been plagued with scams, hacks, frauds. However, their billboard slogan “Crypto Needs Rules” was criticized by Bitcoin users as the main meaning of crypto is to transfer money or digital assets without having to trust anyone.

Source: Bitcoinist

Cameron Winklevoss said that some people wondered why Gemini believes that the crypto revolution needs rules. He responded:

“Crypto doesn’t need rules, but the companies built on top of it do.”

Cameron also cited a part of report regarding to the defunct QuadrigaCX exchange which lost millions of dollars.

In order to prevent cases like QuadrigaCX and Mt.Gox, the latter’s CEO was sentenced to 2 years and six months in prison, the companies that provide custodial services of customers assets should be regulated. Furthermore, Winklevoss pointed out that these cases as well as other incidents could have been preventable if there was a proper management of the company, in particular, “proper rules and thoughtful regulation”.

We remind you

The Gemini Dollar of Winklevoss Brothers Is Officially Approved

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

When Will Finally Growth Happen? Or Fresh Forecasts of Cryptocurrency Analysts

As we all remember, the 2018th year was far from the best in the history of Bitcoin as well as other cryptocurrencies. For the previous year, the first cryptocurrency slipped from $20,000 to $3,200. As of this writing, one BTC coin costs $3,940.

Perceptible revival in the cryptocurrency market has provoked another dose of optimistic statements from analysts. Let’s take a look at what professional traders and cryptocurrency market experts are saying about the immediate prospects for the Bitcoin rate.

Leah Wald

A professional trader, and in the past, World Bank economist Leah Wald, claims that the rate of the main cryptocurrency will fall to a critical level of $1,500, and only after that, new growth can begin, up to $6,500. But the user with the nickname Filb Filb doubts her prediction and claims that BTC has already “found its bottom” and now only the growth up to $6,000 and higher is waiting for us.

Leah Wald is confident in her forecast, so she decided to make a bet with her opponent – in case her prediction turns out to be wrong, she will have to transfer 1 Bitcoin to the user Filb Filb.

Cane IslandCrypto

An analyst from Texas, who is known on Twitter under the nickname Cane IslandCrypto recently published his own vision of the BTC price behavior in the coming years. So, he believes that a long and confident uptrend is waiting for us:

  • until the end of 2019, the BTC course will be $7,800;
  • in 2021 – $28,627;
  • in 2023 – $93,382;
  • in 2026 – $471,532.

He is confident that the bear market is over and only growth is waiting for us in the coming years.

Canaccord Genuity CapitalMarkets

A group of leading analysts of Canadian financial institutions Canaccord Genuity CapitalMarkets has a similar opinion about the rate of the first cryptocurrency. They believe that in two years Bitcoin will return to its peak values and go higher.

To create the own Bitcoin price chart, analysts were guided by historical data for 6 years (from 2011 to 2017). After analyzing the behavior of BTC, they came to the conclusion that at the moment the price of the asset has already “found the bottom”. And in the near future, the BTC course should start its growth.

Conclusion

If we analyze this information, we can conclude that the mood of market participants is beginning to change for the better. So far, the Bitcoin rate shows growing, even though slow: in recent months it has grown from $3,200 to $3,940 and continues to ascend. The nearest psychological mark is at the level of $4,000 – $4,100.

We will closely follow the latest news from the cryptocurrency world. If you always want to stay up to date with the latest events, then follow the updates on our website or subscribe to us on social networks.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Bitcoin Overcame Psychological $4000 Mark: Rate Chart

The weekend begins well: today on March 16th, 2019, Bitcoin rate broke another psychological mark of 4 thousand dollars.

Half-hour graph from cryptocurrency exchange Bitstamp Source: TradingView

In the graph above we can see that not only Bitcoin has increased, but also trading volume. As expected, almost all the coins followed Bitcoin.

Source: Coinmarketcap

This is exactly how Top-10 cryptocurrencies looks like. Bitcoin Cash showed the maximum growth in the last 24-hours, it managed to grow by 14%, the second place in the growth dynamic takes Litecoin with 6,61%.

What is it – the final verge of a trend or another market manipulation? We will follow developments and provide you with the latest information.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/