Why Was Bankless Crypto Podcast Flagged on YouTube But Not Scammy Live Streams?
The Bankless crypto channel on YouTube was restored after being banned for a short time without any explanation. This sparked outrage and questions: Why was a reputable channel like Bankless, with its focus on ethical and informative crypto content, targeted, while scammy live streams continue to thrive?
Bankless Ban: A Case of Mistaken Identity?
Bankless, which boasted 150,000 YouTube followers and focused on Ethereum, claimed 150,000 subscribers to the ETH-focused newsletter and podcast channel on YouTube and said it got banned from the platform without warning. Late Sunday night, the Bankless YouTube channel got banned. Over 10,000 hours of content instantly gone. 😱. We scoured our channels for a reason. The informative Ethereum newsletter and podcast channel on YouTube, Bankless, was banned without any prior notice and warning and has since been restored after YouTube has restored the Bankless crypto channel, after banning it for a short time without any prior notice or explanation. The channel's sudden disappearance and equally sudden reinstatement without explanation raise concerns about YouTube's content moderation policies.
The Scourge of Scammy Crypto Live Streams
The controversy surrounding the Bankless ban quickly escalated when users began calling out YouTube for not taking down scammy live streams that feature Elon Musk, and Jack Dorsey, among others. Time and again, Musk has been impersonated in these fraudulent streams promoting fake crypto giveaways. However, YouTube doesn’t seem to be doing much, the community complained.
About a month ago I discovered this new trend on YouTube where I would receive on the home page, as suggested videos, live streams where footage from known crypto figures (Saylor, CZ) are used to lure unsuspecting viewers. BleepingComputer pointed out that the scammers involved in these live streams employ sophisticated techniques to hijack channels and manipulate the algorithm. The lack of swift action against these streams, which often promise unrealistic returns and prey on vulnerable individuals, highlights a significant disparity in YouTube's enforcement.
Why the Discrepancy? Possible Explanations
The reasons behind this inconsistency are complex. Here are some possible contributing factors:
- Algorithmic Errors: YouTube's automated systems may mistakenly flag legitimate content while failing to detect more nuanced scam tactics.
- Reporting Bias: Scam streams may evade detection because they are not reported as frequently or effectively.
- Resource Allocation: YouTube may be prioritizing other content moderation efforts, leaving crypto scams under-resourced.
- The Nature of the Scam: Scammers constantly adapt their tactics, making it challenging for YouTube to stay ahead.
Bankless: Your Trusted Source for Crypto Information
Welcome to the Bankless YouTube channel, where we explore the frontier of crypto money and crypto finance. This is how to get started, how to get better, and how to front-run the evolving landscape. We provide informative and ethical content to help you navigate the world of digital assets responsibly. Unlike scammy live streams, Bankless focuses on education, analysis, and responsible investing.
Conclusion: A Call for Improved Content Moderation
The Bankless incident, coupled with the proliferation of crypto scam streams, underscores the urgent need for YouTube to improve its content moderation policies. A more transparent and consistent approach is essential to protect users from fraud and ensure that legitimate crypto educators can continue to provide valuable insights.