Bitcoin Forum

I'm really curious to see how facebook is going to spin their recent scandal. There have been some really good projects popping up that emphasize data sovereignty of personal data.

My recent favorite is Algebraix. Permission-based advertising platform where you get paid to watch ads and disclose info relevant to advertisers, all the while keeping your personal data private. https://algebraix.io/

I really think it's time we end data exploitation. I'm very excited for projects like algebraix and the implications they have for privacy/micro-rewards for the future. Thoughts?

I personally think that the one to replace Facebook would be a platform like steemit. However, what is the "recent scandal" that you're talking about?

There's only one thing that talks about bitcoin and facebook which is the ban of crypto related ads even with the recent ban there are still some altcoin ads being shown. After reading the summary it's like a faucet but instead of getting paid with fiat or bitcoins you'll be paid with their currency. It's just another place where people can earn and advertise their own crypto. I don't get the excitement behind this platform maybe i'm missing something. Imo only time will tell if this project would be a successful one.

I don't see any project replacing Facebook in the near future of 2-3 years, more likely after. Facebook is a giant organization, it won't be so easy to shut it down or even take 50% users that fast.
I agree that we need to stop sharing our personal data with someone with don't even know, and don't get even a decent payment for this.
There are a good number of projects who are making crowd sale at the moment with the same purpose to move over Facebook and data selling to 3rd persons.
Many will sadly fail, due to startups statistics, strong will survive and who knows maybe one day we will be getting paid for making likes & reposts as well as decide with whom to share our personal data and be rewarded for that.

Does this recent scandal your pointing out is either regarding the “advertising Cryptocurrency ban” or the “data privacy and account leak that is in news this days”. I doubt that with this controversy is enough to have a mob clamor to have an alternative platform that is capable of what Facebook can do.

Blockchain and Facebook adaptation on its technology is a good option for security purposes and I’m sure Mark is studying this possibility for months now.

This thread got me lightened up with laughter. I realize so many users are desiring magic to happen to take bitcoin to its place of recognition. It is not possible for facebook to be transformed to blockchain. Facebook is mark zugerberg's business and that is what it is.

How will blockchain replace a social media site again?

I don't think a single code would be able to keep a social media site afloat for a long time. It may be able to address the problem for now, but socialization and using social media changes a lot more rapidly than we can change the codes. Probably you can make use of the blockchain technology on it, but really, people should stop over using blockchain and cryptocurrency on almost anything. Heck we even make some stupid coins like celebrity coins or coins for crops and other stuff that are just plain stupid.

I think he's talking about the cambridge analytica scandal. But in terms of algebraix replacing facebook, I think it would be more in terms of the advertising part that facebook/google dominate.

after reviewing everything from their wp to telegram, I do see a huge market for this. they essentially use blockchain to keep our personal data private while we get rewarded for our attention/providing relevant info to advertisers to target better. I'm excited to see how this project turns out. they have a great team as well

I think that FAcebook will finish because blockchain pay customers, facebook doesnt do this

These question is not making any sense? Why? How would blockchain would replace a social media?
If you dont know whats the definition of blockchain technology then it would be better to read it up again once more and you might able to change your own view.
I would rather believe that a new social media which do make use blockchain technology would able to replace facebook which is possible but i would say it wont happen easily since we know on how big facebook is.It wont be an easy thing to consider.

The blockchain-related social media platform Steemit is already relatively popular, and some other projects have been started which attempt to bring advertisements into users' control, such as the Brave browser.

But social media platforms are centralised by nature.  They may implement blockchain as part of their system but they will still use a website and a company.

I think that if Facebook's power begins to wane (which may be a long time), the new system will probably just be another website with similar ethics to Facebook, whether the new website admits it or not.  History repeats when the abuse of people's personal data is beneath the surface.

In the meantime, I'm sure there'll be many near-useless tokens attempting to fill demand in the market which isn't really there.

I believe steemit is mostly like only blog for now. They should see the potential now and update it to more useful platform. Social media is one of those space which needs blockchain technology used on it

I think blockchain tech can disrupt facebook. In this sense algebraix is more on the advertising side. Since facebook and google are the biggest networks AND they track our personal data, using blockchain tech would mean more privacy and accuracy. their whole model is that you get micro rewards for your attention while keeping your personal data private. before you knock it, I recommend looking into it. Their app is up and it's awesome

I think you got it wrong, there's no correlation between the recent scandal about Algebraix and Facebook and Blockchain. But regarding the scandal, yes its a big thing because Facebook has been telling us that they are really protection our privacy. But when the scandal broke, everyone is really questioning their capacity to provide us data security. Maybe there's where blockchain can enter, specially private ledger, its gonna be hard to compromise and even tampered with, this is one nature that every social media should take advantage of so that a data breach is more likely not gonna happen and we are going to be a happy customer.

It is also possible that what you claim is a mix of social media and Blockchain is very fitting to prevent abuse that currently happens to override Facebook can beat Facebook where some users leave their Facebook thinking dangerous to continue to go into it, now is the right time to make it happen all, many technologies are now changing and seeing the development of Blockchain and its advantages, and tightening the security system.

There is no way bitcoin can replace Facebook because Bitcoin is not a social media platform,it's just like saying phones would replace chairs but so far,Facebook has been waging a war against cryptocurrency ads.

If you are referring to the data of facebook to be in a blockchain, there is a possibiliy, however there is a huge amount of data that they need consider, which I think will become more contreversial wehen a breach happens,  if we  considere what had happened to facebook, wherein people have their own discretion on how to protect their data, yet there are outside factors that had given away their data, but when it comes to blockchain, just like what they are doing in healthcare now, insurance companies are sharing information of their members, in case they would want to transfer from their health insurance to another, in a way will also violate their rights. For facebook, if they will use.blockchain technology, it will be faster, however, those who owns the data, should create more advanced security and not just depending on their account passwords.

So, the problems and problems are very serious about facebook but every problem there will definitely be a solution because both run and need each other, maybe more appropriate need technology and renewal more suitable for now.

Actually Google is the one creating its own blockchain right! I hope op has confused everyone. Let him confirm or lock this thread. As you said Facebook is not competing bitcoin at all.
Many spammers in this forum just create a worst threads this forum.
May be as day goes we will find this thread spamyard. Hope op will lock it earlier.

What?!?! I think there's a huge correlation: data exploitation.

I looked into what algebraix is doing and they're preventing that while providing micro-rewards to consumers. While algebraix focuses on the advertising aspect, the data exploitation part is very relevant.

If cryptocurrency becomes popular enough Facebook would probably choose to adapt to the trend rather than risk becoming obsolete

When you sign in to any social network or any platform, there's a user-end agreement. And all of the terms there are in favor of them and assume and expect that your data will be saved in their database for the sake of ad-network. They have to through ads while using those data's that they have gathered from their users while giving them free service. Algebraix is just going to be another altcoin so there's nothing new with it.

I think this is not gonna happen because we all know the function of bitcoin and facebook are not relevant to each other. I don't see any reason why blockchain will replaced bitcoin. In terms of advertising of securing the data on facebook I think using blockchain is a good thing but of course facebook will not replaced by anyone easily.

guys read into what the OP is actually saying. I looked over the algebraix project and I see lots of potential behind their idea: permission-based advertising meaning that we as consumers get paid to watch ads while keeping our data safe/being exploited. I think this is going to be huge as data will be the oil of our future economy.

I wouldn't sleep on reading about them - https://algebraix.io/
they also have their sale going on right now via SAFT

Can that really happen that facebook can be replaced with blockchain. What could happen maybe that facebook may have a full adoption of bitcoin and cryptocurrency when the adoption issues are resolved.

that is actually cool and definelty better than facebook because facebook doesnt even pay us to view their ads on their site and also our privacy or data is also being exposed continuosly to the other website or any other shady business. if someone could invent a social media like facebook but with the ability to use blockchain and crypto in order for us to earn an incentive , then that could possibly beat and replace bitcoin immediately. Blockchain is indeed a verry powerful technology that can transform the way we used the internet.

Even after the Facebook scandal about data,  a whole lot of people didn't know except people.conversant with recent happenings in the news which means only the few that are current would want to consider switching to another platform other than Facebook. Facebook would still remain relevant, all we need is to be more careful on the amount of information we share on social media and they have been made to be responsible for their lapses. I don't now know what else we really wanted.

And strangely most people are too indifferent to Facebook up and down, they use social media. Facebook is so relaxed it's okay but it's very dangerous when it happens again which is worse, many are advocating to go to social media other than Facebook, in order for privacy someone can be very awake, indeed for some people this is a mild problem but its influence could endanger every user and every country also condemns Facebook to responsible Java, how serious.

If facebook is replaced by blockchain that will be great news for everyone because people will be making with the time they spend on social media either directly or indirectly.People can take part in bounties and advertise about cryptocurrency to their followers to attract investors whiles getting paid for their services.This will help to deal with unemployment to a minimal level.Yes this is possible and the future is very bright for cryptocurrency.

The project as you mentioned; Algebraix, is nothing compares to Facebook. Cause the project you mentioned is just for advertising, unlike Facebook which is a social platform coupled with other purpose. If Facebook is replaced by a blockchain technology or something similar to that exist, then it will be a good thing. Good ICOs can use them to advertise their projects and probably likes might earn one coins.  

I have read today stating Facebook gonna launch their new ICO and new coin in the market. I do not think they having blockchain left on the distributed open ledger.
If you use the private medium network means it will be able to transacting the cryptos with in that ledger itself.
Hope Facebook would not compete the blockchain at anytime.

Circumstances are pushing Facebook to take the technology of the blockchain to continue operating.

Is there even and relation between Facebook and blockchain? One's a social network while the other is a piece of technology which is highly advanced. If you're talking about a social network project in the crypto world, there have been a few and the standout one in my eyes was 'Social' which had a lot of good things going their way.

That would be a great innovation if ever facebook changes to blockchain technology instead wasting our time and being exploited by it. In sharing, liking and uploading personal data. We can actually gain from it through a reward like in bitcoin mining where users receives reward from mining block, facebook can also do the same when users likes a photo or comments or share files he gets rewarded and earn something.

There's no relation of course, and I don't think OP was trying to make one. But blockchain as can be seen has been making inroads into every damned industry we can think of. But there IS a huge difference to me between simply making social networking on blockchain, which is what a lot of projects are doing, and using blockchain to guard data privacy (which is an application that is cross industry).

I don't think anyone actually has a project that truly looks at this. Data privacy laws in the US are old, even if they think they're modern.

Facebook is a social media where people can post and share their thoughts because of freedom of speech, but blockchain talks about money, if blockhain replaced Facebook then all data should be transparent to the devs, but the good thing is everybody will be able to know and connect through blockchain technology. However, Blockchain will be abuse by the government for sure if it would be the replacement of Facebook.

Facebook is to big to die..

That's my opinion

Really?  Where exactly did you get the news from? Cause most people might be circulating news that ain't true especially now that Mark is trying to resolve issues regarding security with some the legislature. I don't think the legislature might like it, they might term another meaning to it. Well, if Facebook won't compete with blockchain, then it wouldn't be a problem and in as much as this is will be a good project.

Algebraix is a good project but I think you meant for the advertising side of facebook, which is like 90% of it lol. If I'm not seeing stupid videos, I'm seeing an ad if not a video ad pushed by a company. I love that with their platform we get compensated for our attention and get ads that we're actually interested in. I see a lot of potential that they bring for the ad space tho

That will really be a very great news and a positive change, but i think that it is not going to happen so soon, it will take some more time when bitcoin will become more popular and some other countries will turn bitcoin as legal in their country, i think that  still most of the people are welling for that but still we have to wait for some more time and then we will even see some more good and big new about bitcoin.

it can be, but not soon

I can't see youtube being around much long either. The way they are screwing over their content creators mystifies me. You can only slap them across the face so many times before they go elsewhere. Im already seeing a small exodus to platforms like steem although I have to say I'm not the biggest fan but eventually something else will come around

Yes it can be replaced but its going to be graduate process.

i took a look at algebraix and it looks like they will be integrating some form of social interaction on the app. I'm curious to see how that's going to look....i'm very interested int he idea itself of getting paid to watch ads

I don't quite understand the title question. I assume the question is: "What will happen, if a crypto-based platform replaces facebook?" And my answer to that would be: "Just that." Facebook would not be the first community to die due to a more popular successor (e.g. Friendsters, MySpace). And business models like paying users in cryptos for their data at least look interesting to me at first glance.

In my opinion, it is not the same thing between Facebook and Blockchain, and I do not  think that in this era, there is a  technology which is better and can replace Facebook because it is one of the best organizations,  despite the multiplicity of technologies in the whole internet and in the field of social media but  thet cannot be better than Facebook.
On the other hand, the blockchain technology changed all financial transactions in a postive way and  it has become of great importance in this era. In fact, most of capitalists have become dependent on this technology in their new projects ( ICO ...) .

We need to wait for some years we may find the facebook's private blockchain in market as well. Then we may find many organization being used this blockchain as well mate. This is how they have promote the react.js collaboration on their applications.

Whatever comes blockchain ledger will be operated for the decentralized cryptos in the market and other purposes mate.

I don't understand can like that, but I think maybe origin in all countries receive it, and may be more fraud when Facebook replaced by blockchain

From what I heard, younger generations are not using Facebook as much. I'm guessing that Facebook won't be around much longer as social media. I could be totally wrong. They just introduced Facebook dating, which makes me think that they're grasping for users.

i see lots of potential in algebraix and how they're revolutionizing the advertising space. has anyone looked into them??

https://algebraix.io/

For all the wall that facebook putting against cryptocurrency soon there will be something new.
Yes facebook can do their own crypto.
but if you will search there is ALL.ME !
FB + twitter + trading + wallet = ALL.ME
soon we will have a new platform.

Facebook is probably not going to be replaced anytime soon, people have gotten very used to share all their information online without even thinking about it, unless something really big happens most people are never going to care again about sending private information online, but I hope you're right and this changes in the near future.

I think algebraix will definitely challenge facebook's advertising model. This is a project to be watching. https://algebraix.io/

This is serious one, facebooks will surely run down because its really going affect them.

Agreed. I can see Algebraix taking a good position in the ad market IMO

  This question have been asked so many times here and same reply is what will be received; Blockchain is a new technology, if Facebook ever tried to adapt it, I believe it will be a better platform. Though, recently, this news have been an ongoing one and on once can testify if it will happen or not. And I don't think Facebook or Mark hve made such announcement about it but if they do, it will surely be a great decision. A lot of companies should embrace the blockchain technology.