Perhaps the catalyst that the crypto markets needed to push the next bull run. What better than the world’s largest social network shilling new and old currencies to you at every corner. Get ready for the crypto ads!
This is interesting. Crypto is really starting to come into the mainstream. I hear them talking about it on the radio, insta and lots of videos popping up on tiktok. As long as the companies advertising are legit I don’t see an issue.
LOL. You can’t announce a change of name to Meta, and continue to ban ads from the Metaverse (crypto currencies).
I wonder what pushed them to do this. The recent popularity of cryptos?
But I see more of this on the horizon.
Bring it on. It gives those of us who accept the risk of crypto currency investment far more time to accumulate, whether by fortuitous trading or by dollar cost averaging a portion of our net cash flows (savings) into crypto, ranging from 0% to 10% or more depending on risk appetite.
On a serious note I have been following the trends in new DeFi gaming, liquidity pairing and exchange provision of three newcomers to the crypto market, two of them have not yet released their ICO (IDO or whatever). I have two observations:
1 The speed at which new releases of code happens is frightnening, and there seems to be no strict segregation of development, test and production environments. I may be wong and I hope I am wrong, but people’s funds are at risk and this approach is very alien to anyone who has been associated with classical application development over the past three decades.
2 Governance is something I have been increasingly involved in with respect to the corporate world. I see some massive short to medium term issues with governance and transparency with decentralized autonomous organisations. There is enormous opportunity for nepotism and insider trading that I am not sure is being addressed by founders (even if they have awareness) and I think it is this aspect that most concerns regulatory bodies, and rightly so.
They did the same with Coinbase too. Apparently, their ad stated “£5 in #Bitcoin in 2010 would be worth over £100,000 in January 2021. Don’t miss out on the next decade, get started on Coinbase today.” and then went onto bragging that their competitors were unregulated. I can’t help but agree that the statement about Bitcoin;s price was definitely misleading and unethical.
DAOs, a lawyers dream going forward. These will completely turn upside the world of governance. Still a bit difficult to wrap your head around how things will get done, and the potential pitfalls of such orgs.
I hope the same. Then again, you assume common sense prevails, yet you read stories like this, of a company holding clients funds in a MetaMask wallet!
How would a client ever know? No amount of due diligence will save you in this situation. There is definitely a high level of trust needed when handing your money over to any crypto entity, whether a wallet or exchange or liquidity pool.
Not from the outside, but that is my point about governance. What I expect to happen, if national actors can start agreeing between nations, is that there will be a list of “risk factors” for which DAOs will be asked to address and comply with, and that there may be some form of “insurance” the DAO can take on board that protects unaware investors.
For example, if a new DAO initiates a risk log, on the subject of security of funds, this would answer a question "how many trusted individuals have access to liquidity funds. What is the minimum number of trusted individuals required to release funds from L/P? Is liquidity cold stored offline or online. How much is the maximum liquidity online as a percentage of total liquidity?