Twitter followed Google and Facebook and is about to ban cryptocurrency-related ads. As with Facebook and Google, the policy-in-development will affect ICOs, wallets and so-called investment advice.
Without a doubt, the situation was getting out of hand. “Easy money” (there is no such thing as easy money) attracted a lot of dishonest operators to the market. Some ICOs exist only in form of a website, “investments” are usually ponzi-schemes. Unfortunately, the markets can irrationally react to headlines, but the storm will eventually settle.
To all those promising a “financial revolution” through an issue of another ERC20 token: hey, if you can revolutionise the whole financial system, you surely have enough brainpower to revolutionise product placement strategies?
From our subjective point of view, the best investment opportunities are rarely advertised aggressively.
Rather than focusing on Twitter and Facebook imposing restrictions upon advertisements of fake wallets, one should take note on Financial Stability Board officially issuing a statement that no new regulations will be imposed upon the cryptocurrency market.
“Cryptocurrencies do not pose risks for global financial stability.” – Mark Carney, Governor of the Bank of England.
One would expect the price of Bitcoin to be affected by a greater degree following the positive macro news, however it seems that the market is amidst a storm of uncertainty. Maintaining clarity of thought during times like these is pivotal.
Coincheck, the Japanese exchange which suffered heavily due to the NEM hack drops DASH, Monero and ZCash.
Reminder: About 523 million NEM coins were stolen from the exchange. Access to the private keys for the NEM wallet resulted in a theft of over $500 million out of the exchange.
We can see a clear segregation between a coin’s anonymity and willingness to integrate with the establishment. MasterCard’s officials are cautiously saying that they are willing to work with cryptocurrencies as long as they are not anonymous. Although Coincheck is not a market leader by far and is dropping the said currencies as a precautionary measure and, is a great divide to be expected in the future?