Bitcoin

New Google Ad: Are Cryptocurrencies As Real As Fiat Money?

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Cryptocurrencies continue their march towards mainstream status, as the likes of Bitcoin (BTC) and Ethereum (ETH) capture imaginations all over the planet. They have been mentioned on TV and in songs lately. Now, even search engine giant Google has got in on the act with a humorous reference to digital currencies in their latest ad.

Of course, Google has banned Bitcoin ads in the past, although they are now accepting them again. It is widely believed that the ban was overturned because the company’s chiefs feel that cryptocurrency scams and crimes are now more firmly under control. This is partly due to the advances that have been made by regulators in different countries.

What is the Ad About?

The advert in question is for the new Call Screen service from Google. This is a way for people using the Pixel 3 smartphone to screen their calls and avoid scams. The ad shows two Google employees receiving dubious phone calls.

One of the calls is from the electricity company, telling one of the employees that their bill is “super high”. The man who is getting called then responds that “cryptocurrency mining takes a lot of energy”.

His female colleague says to him that with cryptocurrency mining, “the money’s not real”. His reply is that “money isn’t real”, to which she sighs and asks if he is going to “live that lie”. You can see the full thing below.

What Does the Ad Tell Us?

This is a light-hearted video that shows us about an interesting and possibly useful service from Google. It is clear that they want as many people as possible to know all about their new screen calling service. Yet, they spend more time talking about cryptos than the service being advertised.

By talking so much about cryptos, they have tried to take advantage of the current buzz around this area. They know that people are extremely interested in anything to do with coins like Bitcoin, Dash (DASH) and Cardano (ADA) these days.

Therefore, instead of focussing on boring technical details, they have cleverly reached out to a wider audience by adding those humorous references to cryptocurrencies. Naturally, the fact that so many people are looking for information on cryptocurrency investing means that this ad should appeal to a lot of viewers who might not have otherwise seen it.

Opinion is divided on whether cryptocurrency is 'real' money
Opinion is divided on whether cryptocurrency is ‘real’ money

What About the Points They Make?

There are two main points made by the actors who appear in this Google ads. The first one is the high energy cost of crypto mining. The amount of energy used to mine coins has long been an issue and it is something that is being worked on by many of the leading currency teams. It has been calculated that if Bitcoin were a country, it would consume more energy than all but 38 other nations, close on the list to Ireland and Austria.

Yet, there is also a feeling that the production and distribution of fiat cash is just as wasteful, if not more. When you take into the account the banks, the ATMS and everything else, it isn’t as clear-cut a difference as you might think.

Indeed, it is possible that energy-efficient cryptocurrencies like SolarCoin, Stellar Lumens and EnergyCoin end up improving the planet while offering us a new way to own money. Ethereum is the second blockchain behind Bitcoin in terms of energy use, but there are hopes that the move to Ethereum 2.0 makes a substantial difference there.

As for the part about whether cryptocurrencies and fiat money are “real”, the growing number of people looking to buy digital assets tells us that there are numerous crypto investors who are extremely happy to believe in the value of cryptos.

Featured image source: Pixabay

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