Facebook Scandal and what it means for Bitcoin

MoonJeina

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Quote from: Prodigye on April 05, 2018, 03:48:06 AM

The recent Cambridge analytica scandal with Facebook has raised concerns about the protection of user privacy, I think this is an opportunity for Bitcoin and blockchain technology that offers a solution to this issue.

First of all , it is still not suspected that whether facebook was really hacked or facebook was itself responsible for selling information . Both cases would have a major impact on whether to use a new technology for safe guarding the user information or not . Other than that blockchain is also not properly safe and we hear about so many hacks happening and people loosing their money from their wallet . For a big platform like facebook , even more better technology than blockchain is required according to me.

passwordnow

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Quote from: Ridwan Fauzi on April 25, 2018, 01:19:58 AM

Quote from: passwordnow on April 25, 2018, 12:27:54 AM

Quote from: richardsNY on April 24, 2018, 05:07:43 PM

Quote from: passwordnow on April 24, 2018, 02:29:41 PM

I guess this can be an eye opener to Mark Zuckerberg that he should start adopting Blockchain.

It's not. In most cases these platforms can just offer their 'sincere' apologies, and then move on like nothing happened. If that's not entirely enough, they'll offer people certain features to make them forget about everything. The thing with these scandals is that they are known for being such, but what people don't think about is what they are doing behind your back, and that might actually be 100 times worse than this. At the end of the day, everyone making use of these platforms is nothing more than a product they sell back and forth to make money. If you have a Facebook or other social media account, then know that your information is likely going to be sold, or has already been sold a dozen times (if not more), where the latter is more likely.

He admitted that he has a fault on this scandal and publicly apologized for the damages that he brought up by his company. But this hot topic will just passed out and will forgotten as the time goes by. As a user we really don't care about that breach, as we are enjoying the feature of it for free. I just can't get the interview of those senators and public officials, did they really know the terms and agreement of a service?

But that's just some people who don't keep secret documents on facebook. But there will be many people who have secret documents on facebook so they will be worried about the leaking of his secret documents. So for them will always question the facebook security system. Actually the social media or a platform that is connected to the internet system then we are ready to spread our personal secrets to others. Instead of just facebook alone, our Wallet and our privatkey there will be someone whi know, like google.

If those people who kept their secret files on facebook are doing that way. They should be responsible for keeping those important files on the social platform. They must know that keeping something online isn't recommend if that's important and if it can change their lives. In the first place, they have to answer these few questions.
1. Why use facebook?
2. Why they trusted facebook?
3. Why keep important documents online?

Ridwan Fauzi

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Quote from: passwordnow on April 25, 2018, 12:27:54 AM

Quote from: richardsNY on April 24, 2018, 05:07:43 PM

Quote from: passwordnow on April 24, 2018, 02:29:41 PM

I guess this can be an eye opener to Mark Zuckerberg that he should start adopting Blockchain.

It's not. In most cases these platforms can just offer their 'sincere' apologies, and then move on like nothing happened. If that's not entirely enough, they'll offer people certain features to make them forget about everything. The thing with these scandals is that they are known for being such, but what people don't think about is what they are doing behind your back, and that might actually be 100 times worse than this. At the end of the day, everyone making use of these platforms is nothing more than a product they sell back and forth to make money. If you have a Facebook or other social media account, then know that your information is likely going to be sold, or has already been sold a dozen times (if not more), where the latter is more likely.

He admitted that he has a fault on this scandal and publicly apologized for the damages that he brought up by his company. But this hot topic will just passed out and will forgotten as the time goes by. As a user we really don't care about that breach, as we are enjoying the feature of it for free. I just can't get the interview of those senators and public officials, did they really know the terms and agreement of a service?

But that's just some people who don't keep secret documents on facebook. But there will be many people who have secret documents on facebook so they will be worried about the leaking of his secret documents. So for them will always question the facebook security system. Actually the social media or a platform that is connected to the internet system then we are ready to spread our personal secrets to others. Instead of just facebook alone, our Wallet and our privatkey there will be someone whi know, like google.

passwordnow

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Quote from: richardsNY on April 24, 2018, 05:07:43 PM

Quote from: passwordnow on April 24, 2018, 02:29:41 PM

I guess this can be an eye opener to Mark Zuckerberg that he should start adopting Blockchain.

It's not. In most cases these platforms can just offer their 'sincere' apologies, and then move on like nothing happened. If that's not entirely enough, they'll offer people certain features to make them forget about everything. The thing with these scandals is that they are known for being such, but what people don't think about is what they are doing behind your back, and that might actually be 100 times worse than this. At the end of the day, everyone making use of these platforms is nothing more than a product they sell back and forth to make money. If you have a Facebook or other social media account, then know that your information is likely going to be sold, or has already been sold a dozen times (if not more), where the latter is more likely.

He admitted that he has a fault on this scandal and publicly apologized for the damages that he brought up by his company. But this hot topic will just passed out and will forgotten as the time goes by. As a user we really don't care about that breach, as we are enjoying the feature of it for free. I just can't get the interview of those senators and public officials, did they really know the terms and agreement of a service?

richardsNY

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Quote from: passwordnow on April 24, 2018, 02:29:41 PM

I guess this can be an eye opener to Mark Zuckerberg that he should start adopting Blockchain.

It's not. In most cases these platforms can just offer their 'sincere' apologies, and then move on like nothing happened. If that's not entirely enough, they'll offer people certain features to make them forget about everything. The thing with these scandals is that they are known for being such, but what people don't think about is what they are doing behind your back, and that might actually be 100 times worse than this. At the end of the day, everyone making use of these platforms is nothing more than a product they sell back and forth to make money. If you have a Facebook or other social media account, then know that your information is likely going to be sold, or has already been sold a dozen times (if not more), where the latter is more likely.

passwordnow

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Activity: 3136

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Leading Crypto Sports Betting & Casino Platform

Quote from: premmak on April 24, 2018, 03:31:09 AM

Bitcoin is not a solution to anything in it's current state .

It is a solution for those who are tried of having those reversible transactions with PayPal so why you say it's not a solution to anything?

Quote from: premmak on April 24, 2018, 03:31:09 AM

But i trust in blockchain though . There are many projects upcoming regarding social media !

We do trust blockchain and with the connection of this scandal, I guess this can be an eye opener to Mark Zuckerberg that he should start adopting Blockchain.

Arkyo

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Bitcoin and Facebook are completely different things. In addition, there has already been news that there has been developed a technology to identify the owners of bitcoin wallets according to Internet search. There are a number of more anonymous coins than bitcoin.

siti25

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the facebook prohibits advertisements to promote various financial products and services, which are often associated with misleading promotional practices such as binary options, ICO and cryptocurrency. This new policy is enforced to keep users comfortable while using all of Facebook's services.

premmak

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Bitcoin is not a solution to anything in it's current state . But i trust in blockchain though . There are many projects upcoming regarding social media !

imsotiredofmoviereboots

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Quote from: Prodigye on April 05, 2018, 03:48:06 AM

The recent Cambridge analytica scandal with Facebook has raised concerns about the protection of user privacy, I think this is an opportunity for Bitcoin and blockchain technology that offers a solution to this issue.

Bitcoin is for finance and that platform is meant for interacting with other people. Nevertheless, it's a blessing in disguise that FB ban crypto ads because these dumb politicians might connect crypto behind the selling of private information.

Sudarmoon

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It is indeed very good and an opportunity for Blockchain technology to use, with a decentralized system and I think blockchain is great for storing data and future technology expectations.

Kambal2000

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Quote from: Nahl on April 20, 2018, 02:06:32 AM

i don't think this is related or not that probably blockchain technology offering user privacy protection more better rather than facebook but crypto and social media were clearly different however my government has been invite facebook owner to clarify some problem because there was rumour that 1 million users personal data from from my country has been leaked even my country had a plan to banned facebook

And if ever facebook will eventually deleted or will disappear it would not affect the demand of cryptocurrency, as crypto world is already established and we know that there are already things in which we can make update with crypto, twitter is still there and this forum.

Nahl

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i don't think this is related or not that probably blockchain technology offering user privacy protection more better rather than facebook but crypto and social media were clearly different however my government has been invite facebook owner to clarify some problem because there was rumour that 1 million users personal data from from my country has been leaked even my country had a plan to banned facebook

Samarkand

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Another interesting aspect of the whole Facebook scandal is the fact that the
company that was heavily involved in this mess (Cambridge Analytica) was actually
planning to launch an ICO before news of the scandal broke:

https://www.coindesk.com/cambridge-analytica-planned-ico-before-facebook-controversy-report/

Quote

Cambridge Analytica, the firm that faced much criticism over its misuse of Facebook user data,
had reportedly planned to organize its own initial coin offering (ICO) before the news broke.

According to a Reuters report citing anonymous sources on Thursday, Cambridge Analytica was
originally expecting to raise around $30 million via the launch of its own cryptocurrency and had
reached out to a firm that advises on how to structure such schemes.

btc-facebook

legendary

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I think it's irrelevant because bitcoin is currency and fb is sosmed.
If you talk about security , even crypto exchange also got hack so how do we combine this tech ?
There is no way for FB offering deep security using bitcoin tech or bitcoin using FB connection to become famous but it's all depend on people.

People make the choice for them !

BitHodler

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Quote from: qwertyup23 on April 18, 2018, 05:13:11 PM

The blockchain technology was created in order for wireless and electronic payments to be convenient compared to sending money through different platforms.

Actually, the blockchain itself isn't anything more than a way to store data, where in Bitcoin's case it was initially only meant to function as immutable store of transaction data and such, but it can be used to store other forms of data as well.

I believe that DataCoin back in the days was the first coin that utilized the blockchain for different purposes than just storing transaction history. It failed pretty quickly due to the low demand, but the initiative was there to do something different.

Bitcoin's blockchain is very transparent and open for everyone to browse through and start linking individuals based on online profiles and such, which makes it pretty useless in that aspect.

Facebook if ever, will only use a centralized blockchain they can adjust based on their will.

qwertyup23

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Quote from: Prodigye on April 05, 2018, 03:48:06 AM

The recent Cambridge analytica scandal with Facebook has raised concerns about the protection of user privacy, I think this is an opportunity for Bitcoin and blockchain technology that offers a solution to this issue.

The blockchain technology was created in order for wireless and electronic payments to be convenient compared to sending money through different platforms. Facebook, on the other hand, utilizes a different mechanism under the complex system of the internet and softwares which I believe is irrelevant to the blockchain technology. Though it may provide security and anonymity, social media websites typically have a different application used.

Quote from: daarul50 on April 17, 2018, 10:50:43 PM

Which I feared all this time against facebook eventually happened also where the personal data of the owners of the account are distributed away. Hopefully, the data is not used for things that can result in losses on the account owner. Things like this I've anticipated by never following a game or various surveys that are in facebook that requires charging some personal data.

The only thing that I fear is the implication of it to the users. If the recent scam on Facebook revolved around the leak on security and privacy, then there is always the possibility of it happening to the blockchain technology in the future. Whatever exists on the internet is bound to be leaked and hacked by some malicious softwares and abusers. That is the reason on why having an electronic wallet is not guaranteed 100% safe, despite having all security measures installed.

Baoo

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In my opinion, I disagree with what you wrote in the OP, there is a big difference between Facebook (social media) and Blockchain technology and even they are not in the same field. In fact, the accounts on Facebook are not well protected so the hackers have not much difficulty to hack them. In contrast, Blockchain is very secure and It has many advantages compared to other older technologies.
On the other hand, I do not think that Blockchain will find a solution to this problem, also due to that this social media attacked the cryptocurrencies through the bans of crypto ads. As well, I expect that Facebook will find a solution the this issue.

audaciousbeing

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Quote from: Prodigye on April 05, 2018, 03:48:06 AM

The recent Cambridge analytica scandal with Facebook has raised concerns about the protection of user privacy, I think this is an opportunity for Bitcoin and blockchain technology that offers a solution to this issue.

We all talk about the potential on how blockchain can feature in all of human endeavors which is all good but the issue in actual sense is how is it going to be done. Firstly, we don't have a social media as popular as Facebook that is based on the blockchain neither have I even seen any one being built. Secondly, the fact is what happen is not about losing faith in Facebook but about not even putting data on any social media which means there would be a need for re-orientation to convince people to be willing to share their info on social media then a further convincing that the blockchain is safer than other platforms. That is what I don't see happening anytime soon.

Glenn Techincs

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Quote from: ahmad21 on April 16, 2018, 11:21:52 AM

I don't think blockchain technology has anything to do with the facebook scandal. I don't even think that there is any sort of connection between both of them. Actually facebook has had a rapport that was formed over so many years. And the recent news of the leakge of the personal data of the clients by the facebook was a big shock for the universe. it was hard to believe at first, but now that we have been acquainted well with the facebook scandal, it has shattered all the well built rapport in our minds. blockchain is a public ledger that has record of all the data pertaining to the bitcoin and other crypto coin holders. Some of the ICOs also make the use of our personal information, it might also get leaked somehow. But until now there are jo cases reported, neither the blockchain has such a rapport!!

it was meant that users will start thinking about their safety and start to pay attenton on blockchain... and bitcoin is somewhere near. Kinda that

Topic: Facebook Scandal and what it means for Bitcoin (Read 452 times)