27 Dec 2019 Arjun Agarwal
Youtube Removes Hundreds Of Crypto Videos Due To “Software Error”
Google and cryptocurrencies have a bad history together, with Google banning all crypto-related ads on their platforms in June 2018. Although the ban was lifted in September 2018, Bitcoin and the entire crypto sector suffered from Google’s decision.
Now, it seems Google’s subsidiary – Youtube, is blocking crypto-related video content on its platform. Hundreds of videos containing information about Bitcoin and cryptocurrencies, in general, were taken down due to “dangerous content” and “sale of regulated goods.”
It may seem like a war forming between Google and the crypto sector, but shortly after the ban, YouTube stated an “error” caused most of the small-scale video channels to suffer from deleted videos. Large channels, such as CNBC and CoinTelegraph, appear to have dodged the bullet.
Despite YouTube “explaining” the reasons behind the “error,” the crypto sector lost some of its momentum from this week. Google spokesmen confirmed the problem, noting that “with the vast amount of videos on YouTube, sometimes such problems occur.”
“Nevertheless, we are trying to quickly reinstate videos, mistakenly removed from our platform,” the spokesmen stated.
The rumor quickly became viral, as crypto YouTuber Chris Dunn asked Google about the deleted videos on Twitter. However, YouTube removed hundreds of crypto-related videos, and, according to crypto experts, the numbers are growing fast.
The crypto community didn’t hesitate to challenge YouTube’s decision. The host of CNBC Africa’s CryptoTrader show Ran Neuner criticized the move, stating that “YouTube is a preferred place for educational videos, and the culling is a massive blow to the entire ecosystem.”
“We must find a way to challenge such decisions because YouTube is the easiest way for individuals to enter the crypto ecosystem,” Neuner added.
Quantum Economics’ founder Mati Greenspan went the extra mile to officially “boycott YouTube” due to the recent problems. Greenspan noted that “maybe they try to defend customers from illicit behavior. Nevertheless, giants like Google and Facebook already banned crypto-related ads and then revised their decisions due to regulatory clarity in the U.S.
Facebook and Google fell behind to implement modern-day payment solutions. In December, Google announced a “smart checking” for bank accounts through their Google Pay platform. The new system would be developed in cooperation with U.S. banking giant Citigroup.
In the meantime, the crypto sector, and Bitcoin, in particular, doubled in price since the start of 2019. The main “culprit” behind the increased adoption of cryptocurrencies is the interest the sector received from some of the largest worldwide companies, such as Apple and Amazon.
However, Changpeng Zhao, Binance’s CEO, went radical on the ban of crypto content. Zhao stated that “the crypto community needs a blockchain-based social media platform, which does not contain crypto censorship.”
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