Within a few hours of Google banning ads for crypto-currencies this morning, the group was down about 10% across the board. While this would have no impact on bitcoin, there is no bitcoin company to authorize any advertising, the market sees it as symptomatic of problems for the sector.
The way the market should see it is as a problem of centralization. Central authorities possess incredible power and can restrict freedom and privacy at their whim. This ad ban, much like Twitter's banning thousands of posters recently, shows how desperate our world is for decentralized systems, systems where speech is free and privacy protected. Google's ad ban highlights the need for decentralized networks like bitcoin.
Disclaimer: This is not investment advice.
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