Baidu removed "Bitcoin" advertisements, perhaps because it does not want to repeat the "Wei Zexi" incident?

After the "Wei Zexi" incident, both netizens and Baidu itself became nervous.

According to Bloomberg?, Baidu recently quietly adjusted its bidding search by removing all Bitcoin and other types of virtual currency ads. This news was also confirmed by OKCoin and Huobi, two of China's largest virtual currency trading platforms.

To prevent a second "Wei Zexi" incident?

Image from Botan.com

Baidu did not make any explanation for this operation. Even OKCoin and Huobi only confirmed the authenticity of the incident, and both platforms refused to comment.

This inevitably reminds people of the beginning of a series of negative events for Baidu this year: the “Wei Zexi” incident.

The huge contribution of Putian medical institutions to Baidu's bidding search revenue and the misleading ability of Baidu's bidding search to ordinary doctors and patients have been reflected in one fell swoop. This is also the most likely reason for Baidu's adjustment this time, to avoid the "negative" impact of Bitcoin promotion.

So what is the “negative content” of Bitcoin? Since Baidu has quietly taken down the platform, any “negative content” that may have existed before has disappeared, and may only emerge when the corresponding victims come forward.

But judging from past experience, although Bitcoin has not yet had any negative facts that could attract public attention, it already has the potential to "trigger" negativity.

The previous Bitcoin platform Bitfinex theft incident, picture from iiMedia

There are frequent hacker thefts on Bitcoin platforms. Although there are many possibilities of "insiders" and "self-operation", it is still a fact that Bitcoin is easily "stolen".

As long as you get the local private key of the Bitcoin wallet, a dat file of tens of KB, you can take all the bitcoins in it for yourself. This is even more "convenient" than telecommunications fraud.

On the other hand, the "anonymity" of Bitcoin itself has also been targeted by a number of scammers, who use it as a way to obtain and launder stolen money. Some hackers even add ransom notes to their viruses, which can only be unlocked after the victim remits Bitcoin.

CTB-Locker virus, which encrypts computer files and extorts Bitcoin from victims after infection. Image from Wtoutiao

After that, the money will flow through the Bitcoin network at high speed. Although the traces can be traced, hackers usually do not withdraw cash directly. After a few weeks or even months, they withdraw the money quietly, launder it several times through other financial platforms, and finally get it in their hands without anyone noticing.

Finally, there is Bitcoin itself. Although it has been around for nearly 7 years, its theoretical content and structure are not easy to understand, making it easier for scammers to mislead victims. The best example of this is: Do you think Bitcoin is a currency? (For the answer, please see iFanr’s previous article, click to view)

Let me say it again: Bitcoin is dead

In iFanr’s article “Maybe Only 10 Days Away from the Next Bitcoin Surge”, I talked about my opinion on Bitcoin’s “still being alive”:

Bitcoin has now become a speculators' arena with fairness, openness, and common rules, but it is also a "lawless place."

It is undeniable that Bitcoin will continue to "exist" in the future, and its price may even rise further for various reasons. However, it is no longer the ideal product that "challenges traditional finance". It is more of a "treasure land" for big Bitcoin holders, financial professionals and even scammers to make money.

However, those who blindly pursue the so-called "high returns" of Bitcoin will only end up encountering the "high risks" of Bitcoin, or even fall directly into someone else's "trap."

If you really care about the future, you might as well pay attention to the blockchain technology behind Bitcoin, which may be something that really has the potential to bring some changes to the financial industry.

Baidu stops all Bitcoin ads
/news/17879.html