Google’s Advertisement Ban Is Bullish, Not Bearish, For Bitcoin, Ripple, Ethereum And Litecoin

Litecoin is a peer-to-peer cryptocurrency that is designed to process transactions faster than Bitcoin.  The coin was created by a former Google employee named Charlie Lee.  Litecoin uses a different consensus algorithm to process transactions from Bitcoin.

What is special about this project Litecoin?

In addition to the benefits of blockchain:

  • Decentralized – no one owns or controls the network
  • Trusted (peer-to-peer) – no more third parties
  • Immutability – a coin can never be changed, unlike all modern financial systems
  • Superfast.  For bitcoin, the average time it takes to create a block on the blockchain is 10 minutes.  For Litecoin, it only takes 2.5 minutes.
  • Designed for everyday use – it was designed for small transactions like buying coffee, which is feasible due to its faster processing speed.
  • Litecoin to bitcoin exchange online: “It uses a slightly different mining method to get new coins from bitcoin.

But cryptocurrency has a problem

The American Internet corporation Google said that it intends to lift the ban on advertising digital money from October this year.  True, this will only affect the States and Japan.  This was reported by the company.

Advertisers must be certified by Google for the country in which they intend to display their ads.  Submission of applications will start in October after the update of the rules of the Internet corporation.  Moreover, the rules “will begin to operate in all countries and apply to any accounts that advertise these financial products.”

As a reminder, Google has banned any advertising of virtual currencies on its platforms since June 1, in an effort to protect users from scammers.  Previously, the same measures were taken by social networks Facebook and Twitter.

However, a little later, the corporation announced plans to launch its own blockchain-based digital coin, and also invited the creator of Ethereum, Vitalik Buterin, to work.  Some experts suspected the internet company of starting to block BTC ads to promote its cryptocurrency.  And one crypto businessman from Russia even demanded 2 billion rubles from Google for banning ICO advertising.

In September, Google introduced a tool for analyzing data on the Ethereum blockchain, and also advised users not to advertise their crypto revenues.

Banning cryptocurrency ads from Facebook, Google, Twitter and other websites will actually promote a bullish market, not a bearish one, in the long run.

There are several reasons for this:

  • One of them is that these currencies do not need advertising. They are already known among investors.
  • However, investors seem to think differently. So when they found out that Google was planning to ban ads for cryptocurrencies on their sites, they went bearish (short).

Earlier this year, Facebook also introduced a ban on cryptocurrency advertising.  However, some companies have found a loophole that allows illegal words such as “bitcoin” to be misspelled.  However, Google assures that they intend to combat this practice.

Back to top button