Facebook declares war on bitcoin and cryptocurrencies

Facebook declare war on bitcoin and cryptocurrencies

  • “Misleading ads have no place in Facebook”, say from the social network.

  • They ask users who report this type of advertising that achieves avoid blocking filters.

The social network Mark Zuckerberg continues its policy to clean the image of Facebook, Messenger and Instagram . After putting the focus on the content and fake news , now set his sights on advertising and misleading financial companies selling products, noting specifically the bitcoin and criptomonedas.

“We created a new policy that prohibits ads that promote financial products and services that are often associated with practices deceptive promotion , as binary options, the initial offerings of coins and  criptomonedas ” said  Rob Leathern , Product Manager Facebook , it’s a statement.

The company renews its advertising policy with the same philosophy behind recent changes presented in the NewsFeed  social network. The idea of fighting against ‘ fake news ‘ has led Facebook to try to block ads that hide financial fraud.  Although the ban on advertising ICOs and criptomonedas will pay for the sins. Leathern says that politics is “intentionally broad as we work to better detect misleading and deceptive advertising practices , and the application will begin to increase across our platforms, including  FacebookAudience Network  and  Instagram “. The measure therefore not permanent and eventually in social network advertising will be able to see announcements about  crypto currencies , although they must draw a validation system what lurks behind it before. 

“We will review this policy and how to apply it as they improve our signals,” explains Leathern. Facebook director also calls for the collaboration of the community: “You might not we capture all ads to be removed under this new policy and we encourage our community to report content that violates our advertising policies.”

Forecast results

Facebook will be the first of the FAMAG  (Facebook, Amazon, Microsoft, Apple and Alphabet) to present their accounts . It will do the close of trading on Wednesday on Wall Street. His behavior in the stock market remains unchanged despite the recent controversial ads. In 2018 and annual rises more than 6%, which allows you to quote at $ 187.5 , near record highs of $ 188.62.

The consensus of analysts collected by  FactSet estimates that fourth – quarter earnings will be 5.711 million  dollars, more than 60% above the same quarter last year. These benefits are achieved thanks, among other things, that advertising revenues will amount to 35.000 million in the last quarter of 2017.

If these forecasts,  the benefits accrued throughout the year 2017 would be 17,369 million, 57% more than in 2016 . Analysts are betting on the company and give a potential of 13%. Almost all of them, 89%, recommends buying shares; only 7% advised to keep and 4%, sell.

 

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