Gwyneth Paltrow's "validation" of the cryptosanalogue is a silly ad

Gwyneth Paltrow's Goup Lifestyle Glory Gwyneth Paltrow Frustrated by Controversial Advertising Controversy Encourages People to Learn More About Bitcoin's Key Elements and cryptosurgery – and how they can make their first investment. But before you hurry to celebrate general adoption, there are a few things to talk about.

Yesterday, Paltrow got on Twitter to share a Goop part that includes an interview with Bill Barhydt, Managing Director of the wallet and the Abra exchange service. The piece poses as an explanation for encryption and blockchain technology, but really – it reads like a silly ad for Abra.

After focusing on the unjustified arguments for blockchain – such as lower fees (a highly controversial argument), censorship resistance and increased security measures (Goop refers to Bitcoin as "unhackable") – the piece continues to promote Abra and the benefits of using it.

Of course, the track certainly misses the fact that Paltrow herself participates in Abra. Indeed, the encryption service announced Paltrow as a consultant last year, shortly after appearing on Apple's planet.

Nepotism on the edge is not the first time Goop has to deal with questionable advertising tactics. Last month, the non-profit UK Good Thinking community filed a complaint with the local advertising agency, accusing Goop of relying on misleading promotional materials for its beauty products.

In all justice, the actor is almost the only personality that has supported blind encryption operations. Among other things, boxing legend Floyd Mayweather, actress Steven Seagal, and rapper T.I. have promoted crypto-frequency projects in the past (and have taken the trouble for it).

The US Securities and Exchange Commission (SEC) issued a statement to alert investors that "it's never a good idea to make an investment decision just because a famous person says a product or service is a good investment.

This is the same approach you need to follow with Paltrow's approval for encryption.

Published on 6 November 2018 – 14:24 UTC