Binance

After affecting some of the most prominent cryptocurrency content producers, YouTube admitted the ban may have been a mistake.

The YouTube ban on crypto-related content, which affected some of the leading accounts in the crypto space, may be a mistake on part of the Internet giant. Recent evidence shows an over-zealous algorithm may have led to the bans and the overall panic for another crypto crackdown.

YouTube admits bitcoin ban was a mistake

+ Incident highlights ever-present risk of centralized platforms deplatforming users

+ Strengthens argument for “protocols, not platforms” as decentralized social media alternatives https://t.co/AH8tsR1rCu— Messari (@MessariCrypto) December 26, 2019

The ban still sparked discussion on the overwhelming influence of platforms, which can centrally shut down content. The selection of accounts was also targeting mostly chart analysts, or even tech-related vlogs while leaving more dubious channels to walk free.

Updated list of big YouTubers attacked by @YouTube:@ivanontech@themooncarl@boxmining@MMcrypto@AlexSaundersAU@TheCryptoLark@chrisdunntv@altcoindailyio@nicholas_merten@sunnydecree@chicocrypto@moderninvest@nodeinvestor@martiniguyyt@blockchainchick@TheCryptoZombie— The Moon (@themooncarl) December 26, 2019

YouTube has not issued an official tweet on ending the ban, though channels like Ivan on Tech are back.

The temporary crackdown sparked fears of future potential bans. YouTube has been selective, carrying even BitConnect videos for months before the fraudulent nature of the scheme became known. YouTube is also a source of chart analysis, instructional videos, as well as community outreach and live broadcasts for the crypto community.

The bans re-sparked a discussion on creating platforms or protocols to distribute content without depending on currently leading companies. Changpeng “CZ” Zhao immediately seized the opportunity, suggesting potential solutions for an alternative platform:

The demand to host decentralized videos will speed up progress of decentralized file systems.

Question I have is: would more users like to have free videos with ads, or would they prefer to pay a couple of cents per video to not have ads?

I am the latter, of course.
— CZ Binance (@cz_binance) December 27, 2019

Binance, which already runs Binance Chain, has the potential to tie up video production and distribution while offering crypto-based payments, which are also borderless and censorship-free.

However, for now, YouTube will remain one of the best-viewed platforms, which will host both valuable and dubious content.

Now that the YouTube ban is resolved…

I’m excited to watch a video on January 1st about the “Top 5 altcoins you can buy in 2020 to turn $1,000 into $1 Million”
— Rob “Crypto Bobby” Paone (@crypto_bobby) December 26, 2019

So far, crypto-based content platforms have received relatively slim success, and some have failed significantly. The reason for this is that the content creation reward turned out to be a pyramid scheme that only rewarded early adopters.

somewhere out there someone thinks the crypto content ban on youtube is good for their shitty “youtube on the blockchain” bags— joke how (@thejoecow) December 25, 2019

Video platforms like Steemit, or even the Bitcoin SV protocol, are yet to grab a share from YouTube’s popularity.