Sunday 29 July 2018

Why is Google Removing All Bitcoin Mining Apps on Play Store


In its latest move against cryptocurrencies, Google announced its plans to remove all bitcoin and 

cryptocurrency mining apps from the Play Store. The decision comes just months after banning Chrome 

extensions that mine cryptocurrency.

Google announced the decision to ban crypto-mining apps on the Play Store’s developer policy page, saying, 

“We don’t allow apps that mine cryptocurrency on devices. We permit apps that remotely manage the mining 

of cryptocurrency.”

Although users can no longer mine directly from their devices, Google is still allowing developers to release 

applications that allow mining to be done elsewhere, like on cloud-based computer platforms.

Popularity of Cryptocurrency Mining


The popularity of cryptocurrency mining surged in late 2017 during the bull run in the crypto markets. Sales of

GPUs skyrocketed to a point where GPU producers, like Nvidia, saw price surges in their stock due to higher 

than normal earnings.

The process of mining uses up a significant amount of computing power, and the profitability is directly 

related the amount of processing power a miner can contribute. Access to highly profitable mining rigs is 

limited due to the tremendous expenses that stem from sizable equipment and electricity costs.

The decision to ban mining extensions from Chrome and mining apps from the Play Store is likely due to the 

risks they can pose to a device. Both phones and computers can suffer from internal damage due to mining if 

it is not properly managed. The risks of mining are highlighted by the effects of mining malware that has been 

circling through public Wi-Fi networks and websites over the past year.

Kaspersky Lab, a Russian security firm, recently reported the effects of merely two days of Monero mining on 

a laptop.  They reported that the internals of the device showed physical damage, including a swollen battery 

that damaged the exterior shell of the laptop.

Not Google’s First Move Against Cryptocurrencies


In March, CNBC reported that Google was placing a ban on all cryptocurrency-related advertisements on its 

platform.  The ban was similar in structure to the bans placed on crypto advertising by social media giants 

Twitter and Facebook.

The ban was implemented with the goal of reducing the number of scams promoted through Google’s search 

platform, but it also prohibited legitimate businesses, like Coinbase and Binance, from running ads.

Google’s director of sustainable ads, Scott Spencer, spoke to CNBC regarding the decision, saying:

“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen 

enough consumer harm or potential for consumer harm that it’s an area that we want to approach with 

extreme caution.”

Less than one month after banning cryptocurrency ads, Google announced that they would no longer accept 

Chrome extensions that mine cryptocurrency. Google announced the decision on their blog out, saying:

“Starting today, Chrome Web Store will no longer accept extensions that mine cryptocurrency. Existing 

extensions that mine cryptocurrency will be delisted from the Chrome Web Store in late June. Extensions with 

blockchain-related purposes other than mining will continue to be permitted in the Web Store.”

Their latest decision to ban apps that mine cryptocurrency from the Play Store is likely due to fears that apps 

will damage user’s computers, or significantly slow computer performance.

Is Google Whitelisting Legitimate Cryptocurrency Businesses?


Rumors surfaced earlier this week claiming that Google had followed in Facebook and Twitter’s footsteps, and

began whitelisting certain cryptocurrency companies, allowing them to run ads.  Google Ads responded to 

user requests regarding cryptocurrency advertisements on Twitter, saying, “Ads promoting cryptocurrencies 

and related content are not allowed to be advertised via Google Ads.”

It is still to be seen whether or not Google will begin instituting policies that allow for legitimate 

cryptocurrency-related companies to develop mining apps, extensions, and to run advertisements.




No comments:

Post a Comment