Have you accidentally turned off your ad blocker lately? Because you could be making $5,000 a day mining sh*tcoin on your Nexus 6.
Yes, this has gone too far. We're actively scamming the normies now. I told my dad about BTC at $300. Well he didn't care then and I really, really don't want him to start caring now.
So Google decided to ban cryptocurrency ads today. Which is an example of ethical capitalism or the consequence of US tort law, take your pick. It also banned a few other financial products, like spreadbetting or CFDs.
When I looked at the numbers of spreadbetting company IG Index a few years ago, I saw that they were churning through their entire customer base every year. People would give them money, lose that money "trading", then leave. And IG Index would then go and reacquire a new customer base with the message that this is a highly-leveraged trading account. Which it wasn't - it was a casino where the house always won in the end. That's a fine business if you're an entertainment company and your customers are adults who understand that. But IG Index wasn't saying that and hence I've never owned IG Index shares.
To some extent, crypto (or at least what the loud parts of crypto have become) is worse. Don't get me wrong: I'm a full-on crypto anarchist. I love this stuff and I'm totally on board with going stateless. But please don't market crypto to my dad, because he doesn't know what you're solving for:
I feel like people don't know about the genesis of bitcoin, the problem it is solving for is probably not a problem you're interested in solving pic.twitter.com/HBieRB4wjW— sarah jeong (@sarahjeong) January 17, 2018
I think it's true that any investment that's driven primarily by advertising is a bad idea. If you've ever ridden in a black cab in London, you've seen those asset management firms. Or the private banks on the ski slopes in Switzerland. Both are really bad places to put your money. The same is true for crypto that's advertised on Google.
I'm happy that Google is joining Facebook in getting rid of these ads. Perhaps this will put a damper on the full-on scammers for a while.