The On-Going Mystery of the Crypto Videos: YouTube Claims It Made a Mistake

The recent crypto-purge on YouTube set alarm bells ringing in the world of crypto videos. It seemed as though the video-sharing site had decided to remove hundreds of videos relating to Bitcoin (BTC) and other coins.

It was all apparently a mistake. Yet, the conflicting stories about this issue have led to more confusion.

Doubts over the future of crypto videos on YouTube
Image courtesy of Pxhere

What Has Happened?

YouTube purged hundreds of crypto videos. In some cases, the videos were marked as “harmful or dangerous”. This led to an angry reaction from content producers who had their channels decimated without warning.

A YouTube spokesperson then suggested that they had made an error. They said that the massive amount of material they have means they made “the wrong call”.

Their statement suggested that there have been no changes to their policy on crypto videos. They also said that they act quickly to re-instate videos in cases like this.

Some Videos Are Still Missing

Despite this statement from YouTube, not everyone is convinced. A number of video producers say that their videos have still not been re-instated. It isn’t clear when this will be done.

The fact that YouTube hasn’t given a specific reason for the purge has also led to doubts. Was it done due to faulty AI or were viewers maliciously reporting videos as dangerous? The fact that crypto channels seem to have been targeted is a cause for concern in the community.

The Future of Crypto Videos

It is clear that content producers have lost faith in YouTube due to this issue. Many of them doubt the official story from YouTube. They feel that the service deliberately targeted crypto channels for some reason.

It has been reported that some producers are seriously considering leaving YouTube. LBRY reported a huge increase in usage of its blockchain video service following this purge. Producers could publish their videos on decentralized services like this. This seems like a logical step, but there are some issues.

For a start, a lot of crypto videos are aimed at newcomers. YouTube is an easily accessible service where people can take their first steps. Anyone can currently find out the price of Bitcoin and how to invest in it. Naturally, it would be time-consuming for a complete novice to use a new type of service on a decentralised platform.

For the moment, it would seem that video content creators are still reliant on YouTube. However, the relationship has become strained over this issue. Unless Google and YouTube provide more clarity, creators are going to look for alternatives.

This could be the perfect time for someone to launch a blockchain-based video service. However, it would need to be accessible for complete beginners too.  If this happens, then the decision-makers at YouTube could regret how they have handled this situation.