YouTube has just blocked Bitcoin Magazine’s official channel during a live stream about the integration of the Cash app into the Lightning Network, Bitcoin mining in Kazakhstan, and other Bitcoin-related news.
The platform justified the move by stating that “content that incites illegal activities or prompts users to violate YouTube guidelines is not allowed on YouTube”.
Google’s video platform restored Bitcoin Magazine’s YouTube channel in less than an hour after the Bitcoin media company appealed.
It is unclear why YouTube blocked the Bitcoin Magazine channel. The live stream briefed viewers on the latest bitcoin news, including the fact that the money transfer platform Cash App had started rolling out the Lightning integration for some users, the latest updates on the bitcoin mining industry in Kazakhstan after the Last week’s protests and Jack Dorsey’s new push to develop next-generation Block Bitcoin mining ASICs.
After the ban, search results for live Bitcoin content provided live streams promoting dubious results with a sense of urgency typical of fraudulent activities, rather than streaming in-depth, carefully crafted informational and educational content through Bitcoin Magazine’s now-banned YouTube channel.
The first search result was the promotion of a scheme in which the viewer sends a certain amount of BTC to an address displayed on the screen and the streamer allegedly sends back twice that amount – a classic tactic used by scammers to get quick funds from naive people, who will never see their BTC again. The video plays a Michael Saylor clip in the background to add authenticity, although it is clear that the stream is not made by his company, MicroStrategy, as the channel name suggests. It goes without saying, but never send Bitcoin to someone hoping to get it back – you won’t.
Update (Jan 11, 4:40 p.m. ET): Remember, Bitcoin Magazine’s YouTube channel is back online in the third paragraph, and update in the fifth and sixth paragraphs.