Before bitcoin we actually didnt have a choice, we were forced to use what they throw at us. Now we have a choice, who forces you to use facebook, now we have some nice crypto social networks, my favorite is steemit. Who forces you to do kyc, you can always find some good exchange, decentralized where you can trade without kyc, casinos without kyc.
We have many privacy coins now, most of them are undervalued at the moment. Most people dont know nothing about them, but their time is coming.
Topic: Surveillance Capitalism, Facebook coin, KYC, crypto - page 2. (Read 2536 times)
That has always been there aim all this while, to be able to have access to know every of our activities. I will invest in the Facebook coin but that doesn't mean I'm going to make use of it. I'm only going to invest in it and wait for the price to increase and once the price has increased enough and I've made enough money, I will just withdraw everything back and then use my money the way I want. I don't like giving Facebook every information about myself, there are things that are meant to be kept a secret. So using Facebook coin is not an option for me. If you have a Facebook account they are going to quickly link the account to your cryptocurrency wallet and be able to trace everything and grab every single move you make online using their crypto coin.
Honestly facebook is already getting all the data that is required
Globalcoin can't be because of that
I understand, but I disagree. These companies are insatiable, and Facebook and Google lead the way. The ultimate aim is to gather all data from the real world and develop perfect prediction and, beyond that, powerful means of influencing us. It's a phenomenally lucrative industry. I believe they will exploit any opportunity available to gather more and more data on us. Whether its purchasing and browsing data, whether its biometric data from wearable tech, whether its pinpoint location data from your phone... the list is almost endless, and they will stop at nothing. More data leads to better predictions which leads to increased revenue.
Honestly facebook is already getting all the data that is required to know what we would buy and all, since we do click on ads that sells something so they know what we liked and clicked and maybe even if cookies allow what we buy too, so all in all they have some sort of idea of what we like or do not like thanks to their ads. Why do you think they show adds that are more inclined for our interests and not stuff we never think about before, why does it never show me any soccer or jersey type of commercial but shows me pc game ads? Well they do have those datas already.
Globalcoin can't be because of that, what we spend on it will give them a better understanding of course but not really worth that much time and money to get it a bit clearer when they already have a slightly worse version of the same data. I think this must be for some other reason.
Globalcoin can't be because of that, what we spend on it will give them a better understanding of course but not really worth that much time and money to get it a bit clearer when they already have a slightly worse version of the same data. I think this must be for some other reason.
If you are not the customer, you are the product. Period.
A company needs to make revenues to survive and if they are not charging you anything for the usage of the platform, it inevitably means that your data will be sold or at least used for their own profit. And 99% of people either don't realize this, don't know what consequences this can have or simply don't care as all they want are "freebies" and being able to share the latest cat video with their 2000 "friends".
However, the monetization of our data is not the worst part. Selective censorship (for political/ideological reasons) and sharing of your activities with the authorities is a way larger threat, and there have already been cases of people prosecuted for inappropriate comments or even for liking someone else's comments.
A company needs to make revenues to survive and if they are not charging you anything for the usage of the platform, it inevitably means that your data will be sold or at least used for their own profit. And 99% of people either don't realize this, don't know what consequences this can have or simply don't care as all they want are "freebies" and being able to share the latest cat video with their 2000 "friends".
However, the monetization of our data is not the worst part. Selective censorship (for political/ideological reasons) and sharing of your activities with the authorities is a way larger threat, and there have already been cases of people prosecuted for inappropriate comments or even for liking someone else's comments.
It's quite funny how some people are feeling happy over Facebook releasing their own cryptocurrency, I think that's stupidity, cause I see nothing to be happy about. Most of you here always talk about anonymity which is your main purpose of making use of cryptocurrency, so why do you go about supporting currencies that wouldn't give you that? Facebook for sure will never do things that is never going to benefit them, they are all about collecting users info and selling it to advertisers and stuffs like that, so you shouldn't be so happy about it. Even their cryptocurrency wouldn't be something as bitcoin, and you're even the one investing and they will also use your money for business.
Thanks everyone, a good discussion and some interesting opinions!
I think it's inevitable that Facebook, Google et al will continue to extract our data for behavioural analytics, and that Facebook coin is a step on this path towards the end state of being able to predict (and influence) all of our decisions. It may in future become almost impossible to avoid this stuff, particularly with Android phones, but being aware of the issue does at least give us a tiny bit of control.
I think it's inevitable that Facebook, Google et al will continue to extract our data for behavioural analytics, and that Facebook coin is a step on this path towards the end state of being able to predict (and influence) all of our decisions. It may in future become almost impossible to avoid this stuff, particularly with Android phones, but being aware of the issue does at least give us a tiny bit of control.
Facebook always makes progress steps, I believe if they and the team want to make significant development. I hope it will be realized soon. I'm sure they will make crypto progress.
With big companies making something new or introducing a new concept to the market and coming up with new idea, the first question that you always ask is why, of course none other than profit, and with facebook creating this new coin for people to use them on their platforms, Instagram, Facebook and whatsup you immediately know there is a catch to it, since they are well known for exploiting their systems and taking people's data and selling them to advertisers, they even went to court for that, and with centralized "GlobalCoin" i am pretty sure it is no different, and to be honest who are they targeting with these coins, i personally don't think that there is anyone who spends money on these social media platforms.
Wonder what would the world prefer
A centralized coin that cost you really nothing to transfer or decentralized crypto with 20c/tx
A centralized coin where you can ask for a chargeback or a decentralized coin where you send they are gone!!
A centralized coin that is accepted everywhere or a decentralized coin that has 1% of the shops online.
A centralized coin that has some support department out there or a decentralized coin where you don't get help from sig spammers.
The average person, what is he going to choose?
The average Joe is not concerned that facebook knows he has bought cat food 2 hours ago, he is not concerned that facebook knows he has only used a toothbrush in the last 7 years, he is concerned about how much a product cost and how safe he can be without putting too much effort in it.
A centralized coin that cost you really nothing to transfer or decentralized crypto with 20c/tx
A centralized coin where you can ask for a chargeback or a decentralized coin where you send they are gone!!
A centralized coin that is accepted everywhere or a decentralized coin that has 1% of the shops online.
A centralized coin that has some support department out there or a decentralized coin where you don't get help from sig spammers.
The average person, what is he going to choose?
The average Joe is not concerned that facebook knows he has bought cat food 2 hours ago, he is not concerned that facebook knows he has only used a toothbrush in the last 7 years, he is concerned about how much a product cost and how safe he can be without putting too much effort in it.
Unfortunately, this has always been a problem with the society and with the rise of democracy it's even more visible. The average joe is an idiot but he's asked for his expert opinion on politics, finances, medicine and other aspects of the modern world. How? Indirectly through voting.
Even when he's not literally in the booth he's voting in the Internet, choosing products and services, voting in the store for what has the most appealing package.
If FB coin really launches it will be a success, just as the overpriced Iphones are, even though there are better and cheaper phones on the market.
Tin foil hats on, people, I'm going in...
Big news recently has been Facebook's announcement that it will be launching its own cryptocurrency, 'GlobalCoin'. I think this has implications for the direction of travel of crypto as a whole.
Facebook, along with other major internet companies such as Google, offers its services 'for free'. Obviously 'free' is not really free, as these companies harvest all of the personal data that you provide and use increasingly sophisticated behavioural analytics programs to predict your future behaviour, and sell this on for big profit.
So the Facebook coin - they can harvest data on your personality, age, gender, politics and preferences, but the ultimate aim is to acquire everything, all data, including the most valuable one, which is what you buy and when (and under what circumstances) you buy it. This is surely the real purpose of Facebook's move into crypto. All of your purchase activity with this Facebook coin will be tracked and incorporated into the 'digital you' that Facebook sell on.
Is the rest of crypto heading the same way? I know there are privacy coins, but the overall trend is towards KYC - including on exchanges, and this will doubtless increase as mainstream adoption draws closer and governments become more hands-on in devising legislation. And then couple this with the privacy trade-offs that we are likely to concede in order to make use of the convenience of IoT and connected devices.
Are we heading inevitably into a future where crypto is used as a means for big companies to harvest your data for profit?
I don't think that they use our KYC to do bad things. they will need it to develop a technology in the future and they need information from many people across the country. or they can make their advertising more effective.Big news recently has been Facebook's announcement that it will be launching its own cryptocurrency, 'GlobalCoin'. I think this has implications for the direction of travel of crypto as a whole.
Facebook, along with other major internet companies such as Google, offers its services 'for free'. Obviously 'free' is not really free, as these companies harvest all of the personal data that you provide and use increasingly sophisticated behavioural analytics programs to predict your future behaviour, and sell this on for big profit.
So the Facebook coin - they can harvest data on your personality, age, gender, politics and preferences, but the ultimate aim is to acquire everything, all data, including the most valuable one, which is what you buy and when (and under what circumstances) you buy it. This is surely the real purpose of Facebook's move into crypto. All of your purchase activity with this Facebook coin will be tracked and incorporated into the 'digital you' that Facebook sell on.
Is the rest of crypto heading the same way? I know there are privacy coins, but the overall trend is towards KYC - including on exchanges, and this will doubtless increase as mainstream adoption draws closer and governments become more hands-on in devising legislation. And then couple this with the privacy trade-offs that we are likely to concede in order to make use of the convenience of IoT and connected devices.
Are we heading inevitably into a future where crypto is used as a means for big companies to harvest your data for profit?
Don't worry too much, I've witnessed a lot of people selling their information and haven't had any bad results so far.
Surveillance is not part of the capitalistic world, its not done for profit but it is done for controlling people. For example when facebook sold a ton of data to foreign people so they could use it to meddle with american elections and make sure the trump supporters all went up and voted whereas they worked to keep the democrats at home because they created this idea that hillary didn't supported their beliefs and she will win anyway so the best course of action is not voting for her.
This was all due to power grab and they did it to make sure the country was run by the person they want in the office, that is not capitalism that is literally power grab. Facebook played a role there but they literally just sold data like they always to for marketing purposes, for example they sell data of people who searched "samsung galaxy" or whatever to apple so apple could instead show their ads and change their minds you know. That type of marketing purposed data was always sold, facebook just didn't know this time it was used for something evil.
This was all due to power grab and they did it to make sure the country was run by the person they want in the office, that is not capitalism that is literally power grab. Facebook played a role there but they literally just sold data like they always to for marketing purposes, for example they sell data of people who searched "samsung galaxy" or whatever to apple so apple could instead show their ads and change their minds you know. That type of marketing purposed data was always sold, facebook just didn't know this time it was used for something evil.
Well I think that the OP approach can be very radical and it has a big point, it is not necessary to obviate why these reasons can be done due to the KYC. On the other hand Zuckenberg has shown on occasion that defends the identity of its users.
But you have to check what are the terms to acquire and have new records for currencies like GlobalCoin. They may state that the identity must be disclosed to the SEC records and that this is one of the conditions for acquiring the coins.
For the launch of the coins, they have to comply with everything that is established in the whitepaper, if all this is fulfilled if it is possible to carry out the expected conditions. We will have to wait for the rules and rules to be given, to speculate more safely.
But you have to check what are the terms to acquire and have new records for currencies like GlobalCoin. They may state that the identity must be disclosed to the SEC records and that this is one of the conditions for acquiring the coins.
For the launch of the coins, they have to comply with everything that is established in the whitepaper, if all this is fulfilled if it is possible to carry out the expected conditions. We will have to wait for the rules and rules to be given, to speculate more safely.
Whenever I hear of those Facebook Coin news, first thing that comes to my mind are old arcades where you exchange your coins for their "coins". That's what they all really are.
Old arcade the one that we go every sunday after the church mass ? Where we play arcade games ? Lol yeah your right because we pay them using our fiats in exchange for their token but that is also what crypto market look like . We buy crypto coins using fiats or we can trade our existing crypto coin to another crypto coin . The same thing might happen to facebook coin , so there is nothing new about that
The ones with claw machines and pinballs, LOL.
What I'm thinking is the FBcoin would be as limited as an arcade token and can only be used within the FB platform (FB, Instagram etc) and that would be the same with other social media platforms (I can totally imagine Alphabet/Google following this).
I wouldn't mind them storing mostly trivial data like how much milk I buy, what I'm worried is them stealing money. These tech giants are gatekeepers, if they find your opinions unacceptable, they can simply close your account and put your money "on hold" (a euphemism for them still using it anyway). Chase, a bank has done it with "alt-righters", what would stop these unregulated social media companies?
Whenever I hear of those Facebook Coin news, first thing that comes to my mind are old arcades where you exchange your coins for their "coins". That's what they all really are.
Old arcade the one that we go every sunday after the church mass ? Where we play arcade games ? Lol yeah your right because we pay them using our fiats in exchange for their token but that is also what crypto market look like . We buy crypto coins using fiats or we can trade our existing crypto coin to another crypto coin . The same thing might happen to facebook coin , so there is nothing new about that
Wonder what would the world prefer
A centralized coin that cost you really nothing to transfer or decentralized crypto with 20c/tx
A centralized coin where you can ask for a chargeback or a decentralized coin where you send they are gone!!
A centralized coin that is accepted everywhere or a decentralized coin that has 1% of the shops online.
A centralized coin that has some support department out there or a decentralized coin where you don't get help from sig spammers.
The average person, what is he going to choose?
The average Joe is not concerned that facebook knows he has bought cat food 2 hours ago, he is not concerned that facebook knows he has only used a toothbrush in the last 7 years, he is concerned about how much a product cost and how safe he can be without putting too much effort in it.
Yeah, they are going to waste millions in energy to mine a coin they can print with a push of a button just to acquire data they can simply request from you.
A centralized coin that cost you really nothing to transfer or decentralized crypto with 20c/tx
A centralized coin where you can ask for a chargeback or a decentralized coin where you send they are gone!!
A centralized coin that is accepted everywhere or a decentralized coin that has 1% of the shops online.
A centralized coin that has some support department out there or a decentralized coin where you don't get help from sig spammers.
The average person, what is he going to choose?
The average Joe is not concerned that facebook knows he has bought cat food 2 hours ago, he is not concerned that facebook knows he has only used a toothbrush in the last 7 years, he is concerned about how much a product cost and how safe he can be without putting too much effort in it.
I doubt Facebook will also add PoW to their crypto to let their users earn more crypto by socializing more which gives Facebook more opportunities as the more their users engage, the more data this company will have to sell it in the markets for millions of dollars due to having a XXXL sized user base.
Yeah, they are going to waste millions in energy to mine a coin they can print with a push of a button just to acquire data they can simply request from you.
Whenever I hear of those Facebook Coin news, first thing that comes to my mind are old arcades where you exchange your coins for their "coins". That's what they all really are.
When I read about facebook coins, first thing that comes to my mind are soyboys bowing down to soviet bureaucrats.
People complain about KYC (and with reason), but you check BISQ and it have only two dozens of users selling and buying crypto.
There are ways to have decentralized exchanges, but the cattle dont want to get out of the pasture.
This do really proves out that people do still much prefer for them to be handled rather than doing completely anonymous.I don't know why BISQThere are ways to have decentralized exchanges, but the cattle dont want to get out of the pasture.
didn't still get sufficient users since we know that this place is truly decentralized.People do always murmured about being anonymous but they
don't consider this exchange.
On topic,all of these coins made by big companies aren't really different on fiat yet tracking of transactions and centralization is still present.
People love not caring about stuff so they pass on the responsibility. And it's becoming even more prevalent.
Whenever I hear of those Facebook Coin news, first thing that comes to my mind are old arcades where you exchange your coins for their "coins". That's what they all really are.
People complain about KYC (and with reason), but you check BISQ and it have only two dozens of users selling and buying crypto.
There are ways to have decentralized exchanges, but the cattle dont want to get out of the pasture.
This do really proves out that people do still much prefer for them to be handled rather than doing completely anonymous.I don't know why BISQThere are ways to have decentralized exchanges, but the cattle dont want to get out of the pasture.
didn't still get sufficient users since we know that this place is truly decentralized.People do always murmured about being anonymous but they
don't consider this exchange.
On topic,all of these coins made by big companies aren't really different on fiat yet tracking of transactions and centralization is still present.
People complain about KYC (and with reason), but you check BISQ and it have only two dozens of users selling and buying crypto.
There are ways to have decentralized exchanges, but the cattle dont want to get out of the pasture.
There are ways to have decentralized exchanges, but the cattle dont want to get out of the pasture.
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