MNHQ here: tell us what you think about whether MN should take ads for cryptocurrency trading

No and I don’t think you should be encouraging matched betting either.

Absolutely not.

Bitcoin mining has a huge impact on the environment.

Fine by me, I have an ad blocker, doesn't everyone?

MNHQ. Have a look at some of the bitcoin threads from a year ago. They made really sad reading, with posters talking about borrowing money and getting loans to buy bitcoin. Just before the big crash. Terrible.

Nicely played Sushi.

I still don't know which side I'm on.

Isn't bitcoin used to pay for all sorts of illegal shit?

Isn’t cash used to pay for all sorts of illegal shit?

Considering that some banks still close the accounts of customers who trade in Crypto you really shouldn’t.

My profoundly mentally ill son used bitcoin to pay for drugs that he planned to use to kill himself. What larks, eh? What a jolly topic for advert-funded chat sites to use for the purposes of virtue signalling and profit?

Isn't bitcoin used to pay for all sorts of illegal shit?

Or, more accurately:

Perhaps Mumsnet HQ should start a thread asking whether Mumsnet HQ should start threads that amplify its own status as an advertiser by creating preliminary chat about the legitimacy of possible upcoming advertising contracts.

Perhaps Mumsnet HQ should start a thread asking whether Mumsnet HQ should start threads that amplify advertising campaigns by creating preliminary chat about their legitimacy.

I'd say no. I'm willing to bet most users in here don't have much knowledge of cryptocurrencies. However, what I do know is that you need to know what you're doing to invest. I suspect you could be instrumental in tempting many vulnerable people into something which has risks they don't even remotely understand.

Definitely not. I don't understand why people would invest in something that doesn't exist. You might as well invest in shares for magical unicorn dust that is always kept hidden in a vault.

God no. I love crypto’s and own a variety, but they are so open to scams and misleading advertising and completely unsuitable for the average person on the street. It’s gambling, not investing and come with wild fluctuations- e.g. most are currently 80-90% off their highs from last Jan.

Seems fine to me if they're paying to access your audience (and keeps Mumsnet going)!

Equities/property investment do carry risk but they are backed by real assets or real businesses which investors believe have the potential to earn money. The UK government has never failed to pay out on their bonds at maturity as fast as I am aware. Cryptocurrency is backed by nothing and its price fluctuates wildly so as an investment it seems like a terrible idea to me.

I don't think you should. I agree that they are very risky, and will feel safer to vulnerable posters if advertised. I also greatly dislike the fact that some crypto currencies such as bitcoin are used by extortionists and providers of extreme child porn. Why would mumsnetters want to invest in that?

No from me too, I can't add much to what others have already posted re: vulnerable users.

Do you genuinely mean advertising and not the advertising with embedded scripts that also make use of your device/processing power to cryptojack or assist in the mining?

www.theregister.co.uk/2018/01/27/cryptojackers_slip_coinhive_mining_code_into_doubleclick_ads/

I'm also on the side of no, I agree with Sunseed who said it more eleqouently than I can.

No. Crypto currency investments are Ponzi schemes.

All investment is risky but some investment is more risky than others.

Seeing crypto currency advertised on mumsnet would either make it seem safe as houses and like the disclaimer at the bottom of the ad was just there for legal reasons OR would make me more sceptical of all the ads on mumsnet and less trusting of other brands advertised. I'm not sure which.

On balance, not advertising risky products where the adverts themselves carry disclaimers and any ill effect is most likely to be felt by the most vulnerable sections of society is probably the best choice.

Standard investments are not a zero sum game. If I invest directly in the stock market, or gold or paintings or property, then I might gain or lose, but nobody has to lose money in order for me to gain. The IFA posting above is delighted if her clients make a healthy profit. Gambling, or futures trading, or most MLMs are different - the people advertising will often make their money from your loss, and that’s why it shouldn’t be permitted on MN.

And Bernie Madoff wasn’t investing - he was stealing while posing as an investment manager.

Crypto currencies, I’m not sure about, I don’t know enough to know whether it’s legit or not - I think MNHQ either needs some research and advice on the subject or to decide that the advertising income isn’t worth the reputational risk.