Online advertising that is based upon collected personal information not only violates basic rights of privacy but also opens the door for hackers to gain access to such information. First of all, without agreeing to having your personal information gathered violates one's right to a certain amount of privacy. One can only imagine the sorts of information that could be gathered online, and to store that information online to be used in advertising only leaves that information open to be hacked into and used maliciously. Especially in recent times the best way to keep data private it to plainly keep the data stored offline and out of reach over the Internet. Put simply, collecting personal information online of any kind should be banned for just the reasons above neglecting to mention several more reasons.
No, banning stuff is like closing your eyes and thinking other people can no longer see you. Most sites you use are gathering a lot of information about you. If you don't want that information being used, the better solution is to be more conscious and careful about what information you're putting out there. Online advertising is just a visible tip of an iceberg where personal information is concerned, and at least you're seeing what information they have. You can't give your information to the internet and think it will never be seen if you scream for having bans put in place. The more reliable reaction is to minimize the information you make available and to be conscious of what information you share.
Online advertising that is based on your personal preferences or search history should not be banned. I for one actually enjoy these types of ads. I like that they are not some random site that I will never be interested in. People should just use ad-block on their computer if they don't like it.
Ads that are based on your known interests and targeted at you, personally, are annoying, but they don't hurt anyone. Plus you have the power to limit them by not allowing sites to give you cookies(store your personal information). So if they bother you that much, just do not accept cookies.