On May 14, 2018, the obscure and rarely used1 search engine known as “Bing” decided to ban all cryptocurrency advertising, thereby joining the ranks of Facebook, Google, and Twitter, which had each made similar announcements earlier in the year. Although this latest ban applies to all cryptocurrency advertising, the greatest impact will mostly likely be felt by “Initial Coin Offerings,” or “ICOs,” which up until the ban had been the most competitive cryptocurrency-related ad buyers.
Once Bing’s ban is fully implemented, 71.4% of all online advertising “real estate” will be off limits to ICOs.2 Coupled with increasing regulatory scrutiny these past few months, are we finally witnessing the “beginning of the end” for ICOs? Does “ICOmageddon” in fact cometh?
Here at Tokenicide, when news breaks, our first reaction is to deny any involvement whatsoever and immediately try to shift the blame on someone else. Thus as soon as we heard about the latest cryptocurrency advertising ban, instead of addressing it ourselves, we just asked a bunch of other people what they thought about it…
Dr. Mark Robert has a reputation for being an outspoken critic of anything even remotely considered “anti-crypto.” Here’s what he had to say about Bing’s decision to ban all cryptocurrency advertising:
As a general rule, I try not to make statements that are too inflammatory, as they tend to improperly divert attention to myself and therefore detract from the important underlying discussion. That said, I believe from a human rights perspective, what Bing has done here is unquestionably worse than the sum total of every war crime that has ever been committed by humanity in the history of forever. If not longer.
Being able to irrationally invest our own money in high-risk ventures that have no accountability is one of the most fundamental and important human rights we possess. It is perhaps second only to the right of the founders of these high-risk ventures to shill their projects to the general public without any interference from government regulators or their private corporate lackeys like Bing.
I would not be surprised if this decision by Bing results in the total collapse of human civilization as we know it.
Kevin Belanger is a self-proclaimed “blockchain expert and cryptocurrency enthusiast.” Here’s his take on Bing’s decision:
I’m still in something of a state of shock, and that’s coming from a guy who until fairly recently was a total cryptocurrency skeptic. It wasn’t until I saw the price of Bitcoin go through the roof last year that I realized there had to be something to this crypto thing.
Unfortunately, by the time I got “woke,” Bitcoins were too expensive. So I started researching as much as I could about cryptocurrency and blockchain to see what other ways I could become part of this “disruptive technological revolution” (I hope I said that right…still learning the “lingo” haha).
Once I discovered ICOs, I knew that’s where I could make the biggest impact, so I started assembling a team to help me come up with a credible business plan, create a whitepaper and build an ICO management portal. I think it’s fair to say that I’d already invested at least a full week’s worth of blood, sweat and tears (some of which were my own) into this project when I heard about Bing’s decision to ban cryptocurrency advertising.
I completely understand there are bad actors in the space who are just trying to make a quick buck, and that’s probably what is motivating companies like Bing to make these decisions. But how is someone like me supposed to get the word out about an ICO that’s set to launch in the next few days? What if I can’t? I don’t know if I’ll ever get that lost week back… Do you think maybe I should talk to a lawyer?
Finally, we had an opportunity to speak with Kate Jennifer, an oft-quoted “crypto-feminist” and blockchain influencer who regularly appears in the crypto media and speaks at all the major cryptocurrency and blockchain conferences across the globe. Here are her thoughts on the Bing situation:
Let me start out by saying that I am so tired of people asking me whether I think there are enough women in the cryptocurrency and blockchain industries. Personally, I think the question itself is offensive, because it ignores all the women who are actively working in the space. Why not go talk to them instead of asking me? Honestly, my opinion about whether there are enough is completely irrelevant.
As far as whether there are enough women in the cryptocurrency and blockchain industry right now, let me just quote two statistics:
- 90% of the ICOs that launched last year were led by men.
- 90% of the ICOs that launched last year will fail.
You do the math. When the number of ICOs that succeed is greater than the number of ICOs that fail, that’s when you’ll know there are enough women in the space.
As far as the decision by Bing to disallow cryptocurrency advertising? What about it? Do I think it was wrong? I guess that ultimately depends on who made the decision. You say it came from an advertising policy manager named Melissa? Honestly, as long as it was her decision and she’s not just being used as a mouthpiece for a bunch of men who are too chicken shit to announce the decision themselves, then I’m totally confident it was the right decision.
Are we done here?
Now that you’ve heard their opinions on the matter, what do you think about Bing’s decision? Let us know in the comments below. And if you enjoyed this post, or even completely fucking hated it, why not share it? You can make someone else’s life better or far more miserable with just the click of one of the social media share buttons below!
1At least if given the choice.
2Along with the existing bans in China. Speaking of China, did you know that 冰 (bing) is also slang for “crystal meth?” Perhaps that explains how, according to unbiased online news outlet Windows Report, Bing displays search results 10x faster than Google…or at least why Cortana seems so fucking irritable lately. 🤔