The festive period suddenly turned to a moment of commotion in the cryptocurrency space after Google-owned video content sharing website, YouTube, started clamping down on numerous video contents related to cryptocurrency.
This has really caused unrest within the crypto community as the works of many years of some crypto YouTubers went down the drain within a short interval. This has also prompted a reaction from the Cardano’s CEO, Charles Hoskinson, seeing the unfavorable situation as an indication that cryptocurrency and blockchain will neither fail, nor cease to exist.
The trend of the occasional action makes it look like the largest video sharing platform, YouTube decided to unleash its force on crypto content creators one after the other.
Charles Hoskinson of Cardano (ADA) Reacts to the Clampdown
The unsolicited action displayed by YouTube has been greeted with lots of reactions since the effect of the action started becoming obvious. Many of the affected are already perturbed, not knowing what to do or fix, since YouTube did not actually spell the wrongdoing.
The impact of this action on a video content creator, who doubled as the founder and CEO of Nuggets News, Alex Saunders called for more concerns and reactions from crypto big guns, including Charles Hoskinson of Cardano.
In the tweet that has already accrued thousands of reactions, Alex shared pathetically that the action will surely affect his family wellbeing as a new staff was just employed prior to the major clampdown exhibited by Google’s YouTube.
He said, “Hi Team YouTube with over 100 videos removed & 2 strikes in 24 hours I have still not even received an email from you. This is really scary. We’ve hired new staff. I have a wife & baby to support. I can’t fix the problem if I don’t know what I’ve done or who to communicate with!?”
In response to his trending tweet, Cardano’s CEO, Charles Hoskinson frantically said “….this is why Crypto isn’t going to fail. Absolute power and centralization ALWAYS turns into this.”
And this is why Crypto isn't going to fail. Absolute power and centralization ALWAYS turns into this. https://t.co/Narw4jMwae
— Charles Hoskinson (@IOHK_Charles) December 26, 2019
Reaction of Other Crypto Big Guns to Alex’s Tweet
Alex Saunders’ tweet has attracted lots of reactions from many cryptocurrency community members. This has prompted many to call for a decentralized platform that will serve as best alternative, so as to avoid incidents like this in the future.
The CEO of Binance, Changpeng Zhao, popularly known as CZ also reacted to Alex’s tweet, describing it as a preplanned action towards destroying people’s interest in cryptocurrency, while they get their values destroyed in the process. He then concluded by calling for alternative video content sharing platforms.
These platforms are destroying a lot of value for people. Time to look at alternatives. https://t.co/n7TeMu5ePB
— CZ Binance (@cz_binance) December 26, 2019
Ran Neuner, the host of CNBC “Crypto Trader” and founder of Onchain Capital/Advisory, also shared his thought about the ongoing clampdown on cryptocurrency related video contents. In his reaction, he corroborated the feelings of others by stressing the need for decentralization across the board.
If you ever wondered why we need decentralization, read this. https://t.co/CVrWjfdXv6
— Ran NeuNer (@cryptomanran) December 26, 2019
However, it seems YouTube has not relented from the ongoing crypto content deletion. Many Youtubers have seen the negative impact, while lots of them are just seeing the effect. And there is a possibility of more if everyone involved operates under the same algorithm and terms.