Posted 1 year ago | by Ben Armstrong

YouTube Starts a war with Crypto – Fake news?

On Tuesday December 23 2019, the crypto community on YouTube reported that videos from their channels were being removed and they have been getting strikes, which means crypto YouTubers would banned from posting new content for at least one week.

here was no reason given for the mass banning, but whatever it did seems to have been undone by the social media platform.

To explain this action, the notifications were sent to them, YouTube informed their videos contain “harmful or dangerous content”. YouTube has been stepping up efforts to cull its media library, and it looks like cryptos fell on the wrong side of whatever lines YouTube is drawing.

YouTube Went Bananas

As the banning was underway, many prominent crypto commentators had a lot to say.

Follow to that, many popular bloggers like IvanOnTech or Jacob Canfield, the prominent Bitcoin analyst, were also added to the ban list by YouTube.

Jacob Canfield informed the world that:

“Merry Christmas to everyone. Except to youtube for shutting my channel down. 1984 is real."

via a tweet on Christmas day.

IvanOnTech also left a tweet to say that all crypto Youtubers have changed their videos to private and will wait for YouTube policy to become more transparent.

"We have set all our videos to “private” as a pre-caution until we know what’s going on with crypto youtube. This has been the most insane Christmas ever for me, but the support and unity of the crypto community has been amazing,”

Tweeted the crypto maven.

No Place for New Ideas

As the ‘crypto purge’ on YouTube was underway, Mati Greenspan, the founder of Quantum Economics, shared his views into the subjects of “crypto purge’ from Youtube:

“This wouldn't make much sense given that Google and Facebook have already had a crypto advertising ban last year that has long since been reversed, likely due to regulatory clarity in the United States where it was found that Bitcoin and Ethereum are neither securities nor scams.”

Mati cited conversations between him and his friend, who is a mortgage broker, and offered his explanation of the crypto purge.

His friend wrote:

“...most people equate a strong crypto with a weaker fiat. Companies who have assets valued in fiat don’t want to lose value. Google being one of them.”

A few hours after most crypto news outlets had run stories on the Christmas Crypto Purge, YouTube reversed its actions, and made everything go back to normal. Unfortunately, the writing is on the wall, and the crypto community now understands how quickly a major social media platform can turn off access to the crypto community, without cause or justification.