Google Is Once Again Attacking Bitcoin, This Time through YouTube

A tussle has been going on between Google and Bitcoin. The search engine even banned the bitcoin and cryptocurrency ads for three months back in 2018, and in September the ads were allowed once again.

Things got a little out of hands when Google planned to remove bitcoin and cryptocurrency-related videos from its popular video platform, YouTube. Many content creators who make videos about cryptocurrency and bitcoin felt targeted after the unfair decision.

However soon after Google announced that the decision to remove bitcoin videos was just an error and the removed videos will be reinstated.

YouTube spokesperson while talking to a media outlet said, at times wrong decisions are taken due to massive amounts of videos on the platform. But whenever unfair removal of video is pointed out, videos are reinstated quickly.

Chris Dunn, a YouTube content creator with 211K subscribers called out YouTube on Twitter, saying that the platform removed his several videos by declaring them “Harmful or dangerous content” and “sale of regulated goods”.

Dunn has been creating videos form the last 10 years and have decent number of subscribers and boasts over 7 million views.

Google removed hundreds of videos from YouTube and rapidly kept removing until finally, it announced it was “error”.

Many people belonging to bitcoin and cryptocurrency industry have been raising voice on the matter.

Ran NeuNer, Crypto Trader show host on CNBC Africa said removing cryptocurrency videos is a huge blow to the industry. Many people, especially those who are new to the ecosystem want to learn the basics and YouTube is the go-to place for the majority of them, says NeuNer.

Some of the people have been looking for the reason behind purge as “harmful and dangerous content” is not sufficient. Founder of Quantum Economics, Mati Greenspan, was concerned over the silence of Alphabet regarding the issue.

According to him, it could have been due to scams but Google and Facebook have already banned and reversed their decision of banning crypto ads after it was clarified that bitcoin and ethereum are not scams.

He added that he will officially be boycotting YouTube because of the crypto-purge.

Alex Saunders, Nugget’s News CEO, whose YouTube channel is based on cryptocurrency videos with 65,000 subscribers also raised voice against the unfair removal of videos.

He tweeted, addressing @TeamYouTube that more than 100 videos have been removed and there have been 2 strikes in 24 hours on his channel without any notification. He questioned how he can solve any issue if he is not informed about it.

The company then retweeted, admitting that it was a mistake on their side during the review process. The company said they are fixing the error and will soon reinstate videos and strikes will be resolved as well.

Though YouTube announcement videos will be reinstated but some of the content creators are still claiming that their videos are not yet available. According to the platform their engineers are “actively working”, so it might take a little longer for some of the videos to be reinstated.

Despite the public’s disapproval of ad-funded business models, Google and Facebook have been continuously trying to escalate their advertising revenue.

Recently, Google collaborated with the biggest bank group of US, Citigroup to launch “smart checking” bank accounts through Google Pay. This has given bitcoin developers tough competition and also increased pressure to improve their services and user experience.

Many tech giants have been showing interest in digital payment systems which has led to increased bitcoin prices this year. Whereas, companies like Apple and Amazon are expanding the traditional means of financial services.

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