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Crypto is much more transparent than Google Ads due to the fact that most of them at least have a public blockchain. Is there any way to know if Google Ads pur

Crypto is much more transparent than Google Ads due to the fact that most of them at least have a public blockchain. Is there any way to know if Google Ads purchasing isn’t a giant Ponzi of ads? Is there any way to verify they aren’t bidding up the auctions and that any of it is based on reality and competition at all? Crypto also has price discovery through shorting and selling. How would one short a Google Ad or sell one in their marketplace? There’s only one supplier and it’s “trust me bro” for the price discovery. I think it will be very funny if the past decade or so was not only based on a foundation of sand caused by zero interest rates, but also an ad ponzi from the tech giants. We sent our best and brightest not to the moon or to cure cancer, but to find new ways to keep that ad ponzi going. https://www.adexchanger.com/commerce/meet-performance-max-the-blackest-black-box-of-all-google-ad-products/ https://www.adexchanger.com/commerce/meet-performance-max-th...

aurareturn 3y ago
Holy cow. People are comparing Google to crypto exchanges now. Blockchains are public, yes. But the entities behind them are completely and utterly cryptic and centralized. Most of them operate out of Cayman Islands/Bahamas, etc. Comparing Google to crypto exchanges is insane.
- throwawaypx 3y ago
  Google shares private data with NSA secretly and crypto does it publicly that's the diff i could think of
- vasachi 3y ago
  Well, yeah. At least I can read the smart contract and audit transactions on the blockchain, if we are talking about decentralized exchanges. Google is faaaaaaaaaar less transparent. As in, not transparent at all.
  - aurareturn 3y ago
    Yes, being able to read smart contracts and audit transactions on the blockchain is how everyone knew FTX stealing customer funds from years ago. Oh wait. There are a huge number of ways crypto exchanges pull of scams without anyone noticing including straight up transferring customer funds to their own accounts, wash trading, trading against their own customers, having timely "maintenance" that lead to automatic liquidations, listing securities, taking bribes to list and promote a shitcoin, and the list goes on and on. FTX drained $8 billion of customer funds over its lifetime without anyone noticing on chain until its sudden collapse.
    - EscapeFromNY 3y ago
      > Yes, being able to read smart contracts and audit transactions on the blockchain is how everyone knew FTX stealing customer funds from years ago. Yes in fact! Anyone who looked into it knew. Maybe Wall Street and VCs were duped, but the crypto industry itself saw the train wreck coming from a mile away and distanced themselves from the start. That's why when the inevitable happened, the mainstream were pumping out articles about FTX disproportionately to its importance -- they were the ones that got played. https://bitcoinmagazine.com/business/the-collapse-of-ftx-was-inevitable https://bitcoinmagazine.com/business/the-collapse-of-ftx-was... https://twitter.com/BitcoinIsSaving/status/1539605346469253120 https://twitter.com/BitcoinIsSaving/status/15396053464692531... > There are a huge number of ways crypto exchanges pull of scams There are a huge number of ways Google pulls off scams too. That's what this entire thread is about and the reason for the European Commission's complaint. Hence the comparison.
      - aurareturn 3y ago
        That's a load of revisionist history. FTX's schemes were only exposed AFTER they couldn't handle withdrawals. Anyone who follows crypto closely knows that every crypto exchange is crooked. Even crypto bros will tell you that. I can say that Binance is shady and likely stealing from their customers and I'll more likely to be correct than not. Saying FTX was shady before they were exposed was not a bold statement.
        3y ago
- t0mas88 3y ago
  Google the company is less shady than most crypto companies, but Google's market place for ads is a lot more shady than crypto exchanges. Not only is Google on each side of the trade, there is also zero transparency to other participants and it has been proven in this lawsuit that Google is using back doors in their exchange to give their own tools (DoubleClick / Google DV360) access to data that other market participants don't have. Frankly, their ad marketplace is a lot worse than even the shadiest crypto marketplaces.
- EscapeFromNY 3y ago
  If you don't want to send your money to the Bahamas, you have the choice as a consumer to use a regulated US-based exchange instead. You don't have to be ultra-savvy to read wikipedia and learn about a company before doing business with them. With Google, you're spending money in a completely opaque marketplace with 0 visibility or transparency, and no choice as a consumer to mitigate that.
  - resolutebat 3y ago
    A regulated US-based exchange like, say, FTX US or Binance US?
    - EscapeFromNY 3y ago
      If you do a minimal amount of research (reading wikipedia), you'll learn that neither FTX nor Binance are US-based
      - resolutebat 3y ago
        Both operate(d) notionally firewalled US-based exchanges to serve US customers. For FTX we already know this was a pure sham and they lost basically all the FTX.US money as well, and the SEC has alleged that Binance is doing exactly the same.
        EscapeFromNY 3y ago
        So your point is after you read wikipedia, it's possible to ignore the information you learned there and find some other rationalisation to send your money away? Yes, that is possible, you got me.
- pwdisswordfishc 3y ago
  Yeah, Google is worse
- unicornmama 3y ago
  Don’t forget Switzerland. Home of many “non-profit” crypto companies that have made their founders and investors very rich.

aurareturn 3y ago

Holy cow. People are comparing Google to crypto exchanges now. Blockchains are public, yes. But the entities behind them are completely and utterly cryptic and centralized. Most of them operate out of Cayman Islands/Bahamas, etc. Comparing Google to crypto exchanges is insane.

throwawaypx 3y ago
Google shares private data with NSA secretly and crypto does it publicly that's the diff i could think of
vasachi 3y ago
Well, yeah. At least I can read the smart contract and audit transactions on the blockchain, if we are talking about decentralized exchanges. Google is faaaaaaaaaar less transparent. As in, not transparent at all.
- aurareturn 3y ago
  Yes, being able to read smart contracts and audit transactions on the blockchain is how everyone knew FTX stealing customer funds from years ago. Oh wait. There are a huge number of ways crypto exchanges pull of scams without anyone noticing including straight up transferring customer funds to their own accounts, wash trading, trading against their own customers, having timely "maintenance" that lead to automatic liquidations, listing securities, taking bribes to list and promote a shitcoin, and the list goes on and on. FTX drained $8 billion of customer funds over its lifetime without anyone noticing on chain until its sudden collapse.
  - EscapeFromNY 3y ago
    > Yes, being able to read smart contracts and audit transactions on the blockchain is how everyone knew FTX stealing customer funds from years ago. Yes in fact! Anyone who looked into it knew. Maybe Wall Street and VCs were duped, but the crypto industry itself saw the train wreck coming from a mile away and distanced themselves from the start. That's why when the inevitable happened, the mainstream were pumping out articles about FTX disproportionately to its importance -- they were the ones that got played. https://bitcoinmagazine.com/business/the-collapse-of-ftx-was-inevitable https://bitcoinmagazine.com/business/the-collapse-of-ftx-was... https://twitter.com/BitcoinIsSaving/status/1539605346469253120 https://twitter.com/BitcoinIsSaving/status/15396053464692531... > There are a huge number of ways crypto exchanges pull of scams There are a huge number of ways Google pulls off scams too. That's what this entire thread is about and the reason for the European Commission's complaint. Hence the comparison.
    - aurareturn 3y ago
      That's a load of revisionist history. FTX's schemes were only exposed AFTER they couldn't handle withdrawals. Anyone who follows crypto closely knows that every crypto exchange is crooked. Even crypto bros will tell you that. I can say that Binance is shady and likely stealing from their customers and I'll more likely to be correct than not. Saying FTX was shady before they were exposed was not a bold statement.
      - 3y ago
t0mas88 3y ago
Google the company is less shady than most crypto companies, but Google's market place for ads is a lot more shady than crypto exchanges. Not only is Google on each side of the trade, there is also zero transparency to other participants and it has been proven in this lawsuit that Google is using back doors in their exchange to give their own tools (DoubleClick / Google DV360) access to data that other market participants don't have. Frankly, their ad marketplace is a lot worse than even the shadiest crypto marketplaces.
EscapeFromNY 3y ago
If you don't want to send your money to the Bahamas, you have the choice as a consumer to use a regulated US-based exchange instead. You don't have to be ultra-savvy to read wikipedia and learn about a company before doing business with them. With Google, you're spending money in a completely opaque marketplace with 0 visibility or transparency, and no choice as a consumer to mitigate that.
- resolutebat 3y ago
  A regulated US-based exchange like, say, FTX US or Binance US?
  - EscapeFromNY 3y ago
    If you do a minimal amount of research (reading wikipedia), you'll learn that neither FTX nor Binance are US-based
    - resolutebat 3y ago
      Both operate(d) notionally firewalled US-based exchanges to serve US customers. For FTX we already know this was a pure sham and they lost basically all the FTX.US money as well, and the SEC has alleged that Binance is doing exactly the same.
      - EscapeFromNY 3y ago
        So your point is after you read wikipedia, it's possible to ignore the information you learned there and find some other rationalisation to send your money away? Yes, that is possible, you got me.
pwdisswordfishc 3y ago
Yeah, Google is worse
unicornmama 3y ago
Don’t forget Switzerland. Home of many “non-profit” crypto companies that have made their founders and investors very rich.