YouTube Battles Bitcoin

Google’s reach spreads into the far corners of society, from search engines to Pixel cell phones.  Now, Google plans on creating its own banking system, called Cache.  The powerful company’s goal is to make banking more digital and convenient for individuals.  Almost every technology-owning citizen is familiar with tech giants like Google, Apple and Amazon, so new innovations rolled out by these companies, like Apple’s credit card, have immediate interest, especially because they function so smoothly with popular devices.  A Genesis Mining Review notes that because Google plans to permeate the banking industry, the company has focused on battling bitcoin on its YouTube site. 

Makers of bitcoin and other forms of cryptocurrency have attempted to revolutionize the financial industry and ways in which people bank.  However, with major companies creating their own banking systems, paired with cryptocurrency features and a big-name company label, bitcoin is being railroaded.  First, YouTube blocked any advertisements focused on cryptocurrency.  Now, numerous cryptocurrency-related videos posted on YouTube have been blocked from the website.  Many individuals are at a loss because of the ban, and YouTube claims that it was a system malfunction.  One Genesis Mining Review notes the relevance and importance of bitcoin to many users, and for their videos to be removed from YouTube devastates the community.  Most of the cryptocurrency videos posted by well known entities, such as CNBC, were not taken down, but rather those by private individuals, which leaves many people questioning the company’s motives.

Many bitcoin users feel this is a huge hit to the cryptocurrency industry.  YouTube allows viewers to learn more about bitcoin and understand how to be involved in the cryptocurrency arena.  Without the videos, bitcoin advocates think that individuals will be discouraged from entering the industry.  Some believe that for bitcoin to remain relevant, it must relate more to the average user and be more accessible.  As one Genesis Mining Review implies, cryptocurrency is still popular, but its popularity may decrease because of a lack of social media presence.  Certain users argue that if Bitcoin creates a social media platform, it may bring more attention to the currency.  Social media has become a main channel for news stories, and with cryptocurrency more present on social media, bitcoin could remain a competitor among newer forms of banking.