Bitcoin Forum

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.

I think Bitcoin has nothing to do with this Facebook scandal regarding our personal data of privacy in which they say that in reality the Facebook is taking advantage of our personal data for them to earn. In fact we are not force to join FB and other social media site just to become their users. Bitcoin is a crypto currency investment while FB is advertising services investments in which we can see huge difference between these two form of businesses.

You're wrong. In order to register on the exchanges, we are required to provide personal data. We do not know how this data will be used in the future. Perhaps we will see the same scandals, but with the stock exchanges. There are also many ICOS that require the provision of passport data. There are a lot of scammers and I think that the leakage of information from there will be mandatory.

Honestly, I don't suppose this to have something in common at all.

Talking for the facebook scandal, I guess you are also talking about the social network provider's fud, I don't see it relating to bitcoin directly although it might be having some investors having a second thought about investing in bitcoin.

     I am not directly informed regarding this subject, so my opinion is based only on my personal assumptions from information currently available. I don't think that this Facebook scandal will amount to much. I think that we will find that the whistleblower is grossly misrepresenting the effectiveness of Cambridge Analytica and their invasion of our privacy.

     You have to remember, Facebook is a social media platform. Cambridge Analytica only got access to information posted to peoples profiles. A majority of these individuals affected have profiles that are made public, which means anyone had access to that information. The only individuals whose security is truly considered "compromised" is any individuals with privacy settings.

     I think that the only reason this story has gained so much traction is that of Cambridge Analytica's ties to the Trump Campaign. Facebook will release any information that was compromised and individuals will likely see for themselves that they don't really care about the leak. If you want to protect your information, don't be giving authorization to every stupid application that asks for it.

-I don't think that bitcoin plays any roll in this "Facebook Scandal" nor should it.

-If you want to talk about real invasion of privacy, we should be looking into Google Adsense.

In short not only Facebook would potentially having this kind of issue.Even on all sorts of those parties who do require users information which would really possible leaked those informations.The thing here only is that Facebook is a well known and a big company which means this would really goes viral on all sorts specially most people do always prefer on their privacy even non crypto related fb user would really react into this one.
For bitcoin relation i dont see any correlation to this matter.

I won't say that blockchain technology can't offer solution to facebook but we are yet to discover how! A public ledger is good for financial transparency but facebook is fairly complex platform so I don't think any company currently possess such technology so that it can offer solution to facebook. We need more research and development activities for blockchain to be able offer solutions to real life complex issues.

Ehat I heard is that Facebook sold the user information to the corporate so they did this intentionally not someone who hacked their accounts or servers,so introduction of new system is here no needed.

Everyone talks about Facebook, but nobody talks about other big corporations. Do you think Google stores less personal data? I'm sure Google is more dangerous. Google keeps a history of visited pages. This can give even more information about the account owner. After this scandal, Facebook has financial problems. I think they're not giving up on the ad. Now, Zuckerberg is such a situation that he will agree to advertise even drugs. Lol!

The original post was saying that Bitcoin and blockchain technology can offer solutions for such issues though. The example you mentioned actually adds to the problem lol.

But yeah all this scandal means for Bitcoin is that you don't share your data recklessly. I don't think blockchain technology can help either because it can't stop anyone from selling any data.

Facebook bans all ads promoting digital currencies, including bitcoins. The goal is to prevent people advertising what Facebook calls financial products and services that are typically synonymous with fraudulent promotional practices.

This is also nothing to do with bitcoin, there are decentralized exchanges you can use if you don't want to give your personal information. These concerns are good considering the future of blockchain technology.

Yep, for blockchain it seems to be very up-to-time. This tech can really solve the problem of privacy and honesty

We are talking about Facebook scandal in which our personal data of privacy like our pictures, personal information and details are fully shared to Facebook in which some of these personal data are taking advantage by Facebook like making a free survey to the personal data specially to the pictures that we shared and sale those gathered survey to the companies for their future product new trends. Bitcoin and Block chain has nothing to do with this current findings.

Every scandal would really have always a corresponding effect towards into their company.Possibilities of financial problems would arise but yet decisions would be made will be entirely depending into them.Its normal for the crowd to talk mainly on facebook rather than on other big corporations since facebook is popular and a single issue would really scatter like wildfire.I agree on the thing you compared it to Google which is really more dangerous when it comes to data accumulation.

It can have a positive influence on the crypto market
The situation is very unpleasant, blockchain can solve the problem

The requirement of KYC is actually starting to become controversial. Not many are happy with having to provide their personal information, and they don’t understand why it is needed. Scams are made and information are phished through some of these airdrops or ICOs. This can’t be avoided so the same scandal may happen even in the world of cryptocurrencies. As users, we must be cautious and know how to protect our personal data.

The "know your customer" requirement is only needed by the government and bankers. I'm sorry that the world of cryptocurrencies could not protect against this requirement. This happened because we could not completely abandon the use of Fiat. Perhaps in the future bitcoin will become a currency and this requirement will leave the world of crypto.

You are overreacting to this issue, as i have read, even the found of Facebook, Mark Zuckerberg is not totally worried about this and it seems that it's just a human error which causes the leak of their personal information. With all of these issues all about Facebook, crypto currency can't do anything to it. It doesn't affect the prices, only traders can.

excessive reactions may be conveyed because some secret related data related to crypto stored on facebook can leak ,, but it is true, this is not related to bitcoin and blockchain based technology and will not affect the price drop

This might be an unreasonable issue, facebook data privacy is very different to bitcoin 's blockchain technology data privacy, facebook is updating every trice a month or more than that adding some algorithm to make the privacy of a user be more private than usual, but, basing on uploading pictures or some location you are in, then you are really visible to person who are allowed to see you. Therefore if we are talking about bitcoin then all transaction will depend on the exchange site or the wallet if you want to make it transparent, In other words, Bitcoin is more secure than facebook. However, this two social media tools are incomparable.

If the information on your Facebook account is closed for General viewing, other people can not see it. In the blockchain system, everyone can see transactions of any user. You can't have details of the owner of the wallet but at the big desire it is possible to learn. I think the blockchain is more public than Facebook.

It's not about public or private viewing! The blockchain-based social media will allow you to fully control your data. Nowadays if you want your account to be closed, you can ask FB for it, but they will most likely never delete you from their servers. There's a reason why by accepting their TOS you're allowing them to use your data for promotional reasons and so on.
The new social media will not only allow you to decide who sees your profile, but they will also allow you to delete the account at will and be sure that even if the data gets stolen from the cloud, nobody will be able to read it without a key.

maybe that's good news for crypto world, because then the facebook will open wide again for cryptocoin to promote.

That news isn't good for crypto world or even in real world.

People are worried about their data that was spread so I don't think that's really good for the users that are using facebook.

But facebook isn't the only website that is using our information and identities, there's google and other social media platform and video sharing websites.

They will even ban bitcoin advertisement so I don't think they will have an idea that blockchain technology is a good adoption for their platform.

Ive been waiting for someone to create such new social media platform which privacy is the main concern. If this thing exist then facebook would be no more.
This isnt really affecting positively in bitcoin. Government can always asked information if they'd want to since its regulated anytime info can leak out and as a user you arent aware that its already stolen in the cloud. Not only facebook but all social platforms.

there are quite a lot of dangers that occur and experienced consumers because of digital money tempted. the anonymity nature of Bitcoin can cause a fatal thing if it spreads to various countries through facebook.

I think it means almost nothing to bictoin. Actually some people compare the security of bitcoin and lack of security of Facebook, but I don't see any correlations, these two phenomenons are opering in different markets

I don't think that this is something that we should tackle. It doesn't have any connection to bitcoin and Mark Zuckerberg gave statement about cryptocurrencies.
And that his that his social media platform is going to ban all paid cryptocurrency advertisement. But the mystery is when they will start banning ads because I can still see some ICOs there.
What's good in an article that I've read, they said that they might check the rules and try to change some of it which makes them possible to remove the ban.

I felt sorry for the founder of facebook, why he is accusing him for something that they might accused in him in the first place, why the accusations has incurred now? Because he is already making billions of dollar now, it is so unfair for him. Actually, we must be thankful for him we have given facebook it changes life and everything.

There is also a news circulating around the facebook that it will delete by the founder, I hope that it is not true and will not happen, so many things that facebook has done in our life just like in bitcoin , if people became addicted in it, it is already their fault, anyway with regards to its connection well I don't think bitcoin will be affected much when that happens as bitcoin is already established.

The largest social media platform Facebook is now facing the problem regarding hacked database on it, technically it might be accessing your account without knowing you. In that case, even how secured your Facebook still be they probably got access to it, which is tackled the head of all people who have a Facebook account. Which means not safe.
While in other hand bitcoin technology is not accessible to others especially scammers, it is transparent to others because they will know what your transaction is. Unlike Facebook, you can hide which not do you want.

There is really no secure right now, hackers will gonna do what they want for them to hack things for their own sake, that is why secure things out even in facebook, don't just tell all personal information on it because it might give chance that they will gonna use your info.

This Facebook story just convinced me that I need to do everything to get away from using Fiat as quickly as possible. In this case, the exchange will be exempted from the obligation to take personal data of its users and cryptocurrencies will again return to what they were invented for.

If you have bitcoins you shouldn't be using facebook or anything of the like. I remember a lot of people putting bitcoin addresses on their facebook pages which is ridiculous. They have bots which will scan for the format of bitcoin addresses and they will link these addresses to your facebook name, profile, pictures etc. Im sure this is happening already. Then they will have a database with your real data and your bitcoin addresses.

Just don't have social media at all, and if you do, never post a bitcoin address (or any altcoin address for that matter).

I think a blockchain like technology can provide enough security for the privacy of its users. Facebook the most popular social media website in the world is a treasure trove of personal information (some of it are sensitive) and that info is being sold to companies for their own personal gain. At least knowing who they are and what they are doing to the data they are collecting from our info can give us a peace of mind. I am sure a lot of us have seen how Mark Zuckerberg dodged a lot of questions in the hearing but we all know that this "ad space" they are selling are targeted on us personally based on what we search and what we look.  Providing this kind of technology will give us assurance that our information is not getting into the wrong hands, but for this to be able to work Facebook be cooperative and truthful to the system.

You ae right we can do that if the facebook company would want it to happen. Right now what we should do is to at least limit our details that we are providing in facebook so that when our fb was hacked no reason at all to worry for  using our info.

I think it is a huge security weakness that FaceBook can not protect personal datas, but Bitcoin has not been affected, even Bitcoin has been positively affected. Facebook have fallen on the stock market, but it's been a positive week for all the crypto moneys.

This kind of scandal should not be repeated, in case any of this kind of scenario will repeat itself, you can say that it will be punishable, but we cannot say that it is punishable, perhaps there would be a solid proof that can be analyze well. We do not know who will be the one whose involve with. Just like in bitcoin, we cannot say that bitcoin is on its security and safety at its finest. We should look up to our own security and privacy for our own bitcoin.

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!!

Precisely mate, I think it's different between two data's blockchain and the facebook data. If Facebook uses the data of blockchain there is the possibility that having more traffic on making transactions of cryptocurrencies because of how many billion subscribers on Facebook.
Well, if that happens facebook company will having tie up on blockchain technology the cryptocurrencies are much more spreading all over the world.

facebook has much to say about all sorts of bitcoin spam.
many of the page pages that I share my facebook wall, but many considered by facebook
so is twitter almost regarded as spam

That is right, it is not the cryptocurrency who made problem with facebook but how fb change the world as they are accusing fb as a manipulators to the mindset of people, as they have said people nowadays cannot live a day without browsing their social media. Hope that the founder of facebook can handle this thing and continue fb as on the other hand it has been a great way help in advertising.

A lot of users are now using some bots to post to their social media account and even on their dummy accounts too. That's why facebook team are now aware of such activities that keeps flooding to their system and it is somehow reported to as annoying due to their unusual activities that people don't really like it to show on their profile.

This could lead to the downfall of facebook, we should be on update on what will happening in facebook. A lot of privacy details, we should not let facebook will spread out our own privacy. We must aware on what will happen to our own account. We must have that own privacy where as we could have our own private life. This bots can be one of the problem of facebook, it would be one their attackers / hackers.

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.

What is the connection between bitcoin technology and blockchain on Facebook social media, I think it's unreasonable if bitcoin/blockchain technology will solve the problem or about the protection of user privacy or anything else related to the account.
Lately.. I just knew that crypto is more considered with social media, because maybe now facebook twitter users etc, sharing many crypto ads until it is banned or avoid fraud etc., and it has nothing to do with account security/privacy or whatever it is.

Almost all modern social networks are completely under the control of public services, for this reason, it makes no sense to talk about anonymity. For today, apart from TOR, only Telegram dictates its conditions and I am sure that with the passage of time this service will remain completely anonymous.
Facebook for a number of reasons is forced to do what they are prescribed, on a global scale, their actions will not be reflected in the development of the Crypto-currency.

Facebook is also trying to stay out of state control, but it seems to me that Zuckerberg is cooperating with the US government. After switching off Telegrams in Russia say about the shutdown before the end of this year, Facebook. It's a big piece of advertising. I think Zuckerberg is not going to ban crypto ads right now. Why should he further losses?

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

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.

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.

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.


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.

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.

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 !

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/

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.

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.

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.

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 !

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.

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.

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?

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.

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?

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.