Hardly anyone keeping an eye on the cryptocurrency sector could have missed YouTube’s recent crypto content purge. Now, however, YouTube has taken swift action to correct this massive cryptocurrency content ban. What’s more, YouTube has publicly said the purge was a “mistake”.
YouTube reveals that its crackdown on crypto content was a “mistake”
Earlier this week, YouTube’s review process began lashing out against cryptocurrency and blockchain content. Although the reasoning behind YouTube’s crypto purge was unknown, many observers said that it was likely the result of some sort of error on YouTube’s part.
However, many high-profile crypto content creators were left in the dark as YouTube did not make any public statement explaining the move. Moreover, there was also widespread uncertainty due to YouTube’s many strikes against content creators – which could potentially lead to channels’ permanent deletion.
Additionally, YouTubers also saw numerous instances of deleted content. This led the cryptocurrency community to reach out en masse
One of the most vocal crypto YouTubers was Carl The Moon (@themooncarl) who recently got a reply from YouTube’s Twitter. Specifically, @TeamYouTube responded to one of Carl The Moon’s tweets, clarifying that this move was the result of an error.
“Hey there, this was an error on our side during the review process – your video should be reinstated and strikes resolved. Let us know if you’re seeing otherwise!”
Content is easy for YouTube to restore – trust is perhaps not
As such, YouTube is now accepting responsibility for this crypto content purge, and it appears it will reinstate all content. However, multiple people have commented that trust in YouTube may have taken a hit that will take longer to restore.
For example, a large amount of the cryptocurrency and blockchain content taken down was, in fact, educational in nature. Consequently, many observers were fairly certain that the YouTube strikes and deletions were a mistake – but it was hard to know for sure.
Moreover, although the content is now reportedly back online, this entire debacle highlights the power YouTube has. Carl The Moon said that although YouTube has taken steps to restore the content, this incident will leave a lasting scar.
“YouTube has admitted that this was a mistake, but this has severely impacted YouTube business. However, the biggest thing I have learnt as a YouTuber is not to trust YouTube.”
Furthermore, this incident may push cryptocurrency and blockchain content creators away from YouTube. The decentralized content sharing and publishing platform LBRY, for example, has said that 200,000 people have started using the service just in the last month. It remains to see if this development may continue.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.