Youtube being dragged into Bitconnect Lawsuit

Recently Youtube has been named as a defendant in the ongoing trial of Bitconnect, which was a Ponzi Scheme that defrauded many people out of Millions of dollars by promising an unreal ROI from a lending platform. When the scam was exposed, all the Bitconnect tokens became worthless and lots of people lost tons of money due to the scammers. Initially outside of Bitconnect itself, major promoters close to Bitconnect were being pursued. Big youtubers like CryptoNick and a few others who referred tens of thousands of people were being named as defendants. It was a long shot that those people would ever be able to pay back the money that they defrauded people out of so now the prosecutors have turned to bigger fish, namely Youtube, the medium which many of these videos were published on. I think this is really going out on a limb and I do not think the charges against Youtube will hold. Youtube is simply a medium where people share video content and although they have filters, it is not possible for every one of its moderators to have in-depth knowledge on cryptocurrency and be able to see into the hearts and souls of the content creators to really determine if they have malicious intent or not. It is not reasonable to hold Youtube accountable for the content uploaded by every one of its uploaders because there is no one in the world that can truly tell for sure if something is a scam or not and they can’t hire enough people to make sure no one ever gets scammed.
Furthermore, this just gives Google and youtube more reason to ban all cryptocurrency content on their platform if they can be held accountable for these things. Its cases like these that bring over regulation and scrutiny on the cryptocurrency market because people don’t want to take responsibility for their own actions and want to blame someone else for their losses.

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