*UPDATE: The theory we outlined here turned out to be correct! Details at the end of article.
That headline isn't just to grab your attention, I mean it - and somebody at YouTube deserves to lose their job.
If you haven't heard, YouTube, out of nowhere, began mass deleting videos on the topic of cryptocurrency.
Sure, a small percentage deserves it, the scams and other bad investments that target the more gullible viewers can be found there, but I would bet you most scams of any kind have been turned into a video-version for YouTube.
Put in search terms like "Earn PayPal" and "CashApp Money" and you'll be flooded with search results of scam investments and sites that use standard USD and a Visa/Mastercard.
That aside, they're not just deleting scams.
The YouTube employees behind it have taken things to the extreme, so far that videos about blockchain technology (which does not necessary mean cryptocurrency is involved) is also being removed.
Blockchain can be used to keep track of virtual coins, that's cryptocurrency, but it can also track packages, Walmart uses it for inventory, and a number of digital voting systems uses it to stop voter fraud. Anything that involves keeping a record that you want to prevent being altered or manipulated, blockchain is how to do it.
Literally NOTHING within these videos could be twisted to claim they're violating YouTube's terms of service. There's nothing to invest in, only information on how the tech works in many.
Being Based in Silicon Valley, I Can Verify Google is Full of Crypto Fans...
Being based in the SF Bay Area and working in tech, I've met countless people from every big name tech firm you can think of. It's probably no surprise to hear - crypto is extremely popular here.
Remember, Silicon Valley is also home to the biggest companies in the US crypto industry - Coinbase, Kraken, Ripple, and Binance US are all within a short drive to Google.
I would even bet crypto these exchanges easily employ 100+ former Google employees, thats just how things are here with people jumping from one company to another. Exchanges pay top dollar for engineers, especially these last couple years as crypto entered the mainstream, and Google is a stop many seem to make even if it's just for a year or two.
Google's Top Executives Actually LOVE crypto...
Google-made billionaire and former CEO Eric Schmidt calls Bitcoin an "amazing advancement" and praised Ethereums "huge potential".
Schmidt was replaced by new CEO Sundar Pichai - who said in a recent interview that him and his son mine Ethereum.
and Litecoin's creator Charlie Lee is a former Google Engineer.
Does this sound like a company that won't tolerate blockchain even being mentioned?
That's why i'm convinced - this is a huge blunder, and was never supposed to happen.
I'd like to explore a possibility other members of the media haven't - somebody screwed up.
Knowing what I know, I just can't picture a room full of Google/YouTube staff and a proposal as far-reaching as 'We're going to delete all videos about cryptocurrency, and even the underlying tech it uses (blockchain)' getting the thumbs up. In fact, I imagine it met with swift opposition.
Also - is it really just coincidence this happens during Christmas week, when those in positions of power typically take some time off?
Reviewing videos is not a high ranking job, and I'm guessing the person/persons who typically would have been watching these lower-level employees and stopped it, were on Christmas vacation.
The question is - how stubborn is YouTube?
While i'm confident we will soon see YouTube correct what went so wrong, and clear guidelines implemented that allow for videos merely on the topic to exist if done correctly (something where they perhaps only target videos with an unrealistically high promise of return on investment. Things that are unquestionably scams, or even legitimate cryptocurrencies but promoted in an irresponsible 'get rich quick' way).
But anytime YouTube does changes it's mind it becomes headlines, now more than ever as recently implemented policy updates has a lot of channels angry about disappearing videos.
My concern is that while YouTube may correct things moving forward, channels that got wiped out during this short, confusing phase, may not see their videos restored and strikes removed. Simply to avoid fueling the flames with channels in other niches. I can already see the Tweets crying 'well you gave THEM their videos back!' - making a blanket policy of 'what's done is done' sound pretty appealing.
Ironically, I reach out to my contact at YouTube. A management-level employee, and big surprise - they're away on vacation. It's the foxes running the hen-house over there until next week.
* UPDATE! (And... I told you so! )
It was one big mistake - Crypto YouTuber Alex Saunders just shared:"We're back! Still no contact from Youtube but the 250 removed videos & strikes have been revoked. Amazing to see the community rally behind everyone affected. This situation highlights the importance of educating the masses on decentralised systems."
Other channels are experiencing the same.
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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk
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