Crisis has fallen upon the cryptocurrency space.
Moreover, an increasing number of videos are getting reported and blocked, which is causing havoc among the cryptocurrency community.
Since a great deal of traders, investors and people interested in the space use YouTube for news and cryptocurrency-related content, the issue could be far worse than what we can imagine.
Bitcoin and a high number of cryptocurrencies exist so that we can properly have censorship resistance.
However, if the message cannot get trough since gatekeepers are running the show, how will the space react?
Let’s dive-deep into the issue and try to measure the pros and cons.
YouTube blocking cryptocurrency videos
We have set all our videos to “private” as a pre-caution until we know what’s going on with crypto youtube.
This has been the most insane Christmas ever for me, but the support and unity of the crypto community has been amazing 🙏❤️
— Ivan on Tech (@IvanOnTech) December 24, 2019
The issue started, I believe, around December 20 or 21 – right before Christmas.
Apparently, videos started getting flagged and reported, which made YouTube simply suspend a high number of videos and channels.
Most of the people affected received e-mails from YouTube stating that the videos removed violated YouTube sales policies. Interestingly, most videos were simply either news, technical content or general cryptocurrecy stuff.
Has YouTube gone overzealous, or were they right to remove the videos without prior notice?
After all, YouTube is just a company with internal rules to follow.
The problem of censorship is real
I’ve said it time and time again in my interviews with crypto influencers, US Empire will crack down on crypto, hard. Crypto is the single biggest threat to its power. It is now absolutely essential that we can transact >privately< because the use of crypto will become unlawful.
— Kim Dotcom (@KimDotcom) December 26, 2019
The question we should be asking is what alternatives are there? From personal experience, I believe either podcast format or using a different video-streaming platform provider, like Twitch or dtube could be a solution.
Of course, no solution will ever be the perfect one and I sincerely believe it will be fairly hard to fully remove the censorship problem.
I could be wrong; after all, Bitcoin showed us it is possible to safety remove intermediaries without damaging the entire system.
My personal suggestion would be to simply do the same thing you do with your money: diversify risk. Meaning, use different platforms to upload your content. In addition, remember people use other services from time to time, as well as underline the importance of following your each and every step on Telegram or Twitter.
After all, if the message cannot be censored, why should we care about a single platform?
How will Google react?
— Davincij15 (@Davincij15) December 26, 2019
At the moment of writing, my suggestions are easier said than done.
Most folk go to YouTube and don’t bother looking into other streaming platforms. YouTube, so far, has greatly benefited from network effects. Still, I don’t thing those will last forever.
If Bitcoin can overtake banks, I’m pretty sure some other app will eventually replace YouTube. Perhaps, it is out there already.
In the meantime I will do my best to spread awareness about other platforms, in hopes we don’t have to face these sort of shenanigans anytime soon.