Cryptocurrency Developments Face Communication Challenges

March 11, 2020 10:51 AM UTC

The major online video provider Youtube is restricting the cryptocurrency community. The site had removed several Crypto contents in late 2019. 

The bans initially started as a precautionary response to hackers breaching famous accounts and using the profile authorities of their victims to phish cryptocurrency from unsuspecting victims. However, the platform’s restrictions have gone beyond targeting breached accounts or potential Crypto as the ban has also consumed famous crypto analysts Altcoin Daily, Crypto Beadles, and Chir Dunn. All three have confirmed the news of strikes and bans. 

Youtube’s justification for removing Chir Dunns channel was that the account was involved in the “sale of regulated goods,” and ” unsafe content.” Earlier this week, YouTube removed two crypto-related videos from different channels. 

YouTube Restores Crypto Videos

Earlier this year, after removing almost all crypto channels as a precaution, YouTube rapidly restored most of the dismissed content and channels. Ivan On Tech argued that his previously banned videos are available on the channel. 

The Moon, another Crypto Youtuber, claimed that YouTube reached out to him with the following statement:

“Hey there, this was an error on our side during the review process — your video should be reinstated and strikes resolved. Let us know if you’re seeing otherwise!”

The temporary outbreak has motivated many YouTubers to shift their videos to decentralized platforms. Omer Bham responded:

“In case YouTube decides to delete my channel (or most of my videos), please follow me on LBRY.” 

Changpeng Zhao, CEO of Binance, stated in a Tweet: “The crypto community needs to consider alternative, the way Youtube is performing it [is] an alarming situation, the platform is destroying the most people value.”

The Community is Split

While some supporters of Crypto YouTubers have rallied for support, a large portion of the community remains speculative about the value of most Crypto influencers. Many have been called out for taking unstated sums of money to include unsuspected sponsored content in virtually every video. Such actions are also illegal as the SEC mandates the disclosure of any payments received to promote investment solicitation.

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