Facebook shitty coin. Facebook selling information of their customers

[zernaloot29]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

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[Herbert2020]

that is the whole problem with centralized systems and inherently the problems comes to centralized cryptocurrencies. they track and censor or limit your transactions and have full control over your money. they have their own use cases like PayPal that is widely used all over the internet but they can never be compared to or compete with a decentralized currency like bitcoin.
selling information is just a side product of that centralization and them having access to too much information.

[Pffrt]

Everyone sell our data, it's nothing new. Telecommunication company sell our data, social media sell our data, google sell our data. Each and every organization to whom our data is available is selling to another party. Their coin will be centralized and probably another shit stable coin.

[pakhitheboss]

Facebook coin will used for peer to peer payment on its Whatsapp platform initially. They are planning to launch it in 2020. 

Nothing is free in the world the service that Facebook has been providing comes at cost. The cost is breach of privacy of individual users. Their coin will help them to acquire financial data of end users and they will surely use it for their own benefits.

P.S - Banks and other financial institution have been doing this for a long time. Imagine what amount of user data Google and Apple have?

[bimvo]

I think we will feel positive changes in the privacy policy, if they do not just create their cryptocurrency but also try to use blockchain technology to improve data security.

[jushfln]

I think we will feel positive changes in the privacy policy, if they do not just create their cryptocurrency but also try to use blockchain technology to improve data security.

To transfer such an old and huge social network like facebook to the blockchain will be very difficult. I do not think that they will decide to radically change their policies and produce innovations. But perhaps this will be easier to create on their mobile application. It will be interesting to observe the development of this story.

[davis196]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

What else are you expecting from Facebook?They are a social network.Their biggest asset is the personal data of all their users.Of course they are going to sell it.
Too sad that they are going to create their own coin,instead of adopting btc,eth or litecoin.

[bimvo]

I think we will feel positive changes in the privacy policy, if they do not just create their cryptocurrency but also try to use blockchain technology to improve data security.

To transfer such an old and huge social network like facebook to the blockchain will be very difficult. I do not think that they will decide to radically change their policies and produce innovations. But perhaps this will be easier to create on their mobile application. It will be interesting to observe the development of this story.

It is safe to make a good system without using the blockchain, but after they are punctured with leakage of user credentials and several large hacker attacks, it will not be liquid to continue using the old schemes if they really plan to set an example for other networks.

[uray]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

Privacy is a dream if you are using these services and even if facebook or any corporate come up with their own centralized cryptocurrency, the security and privacy they offer is just a mirage, if you use them then they will come to know everything about your financial transactions and they will have your complete data including your personal and financial details which is highly contagious.

[FoBoT]

It is not only Facebook that sells our data but all the big online business giants like Google, Microsoft etc.
Facebook coin might be shitty but it shall make a killing sales and a lot of people will struggle to buy it when it launched.

[lyks15]

That is not good thing about facebook and facebook coin. Because of being too much popular there is also too much absurdity that can affect even our personal information. And I think if that habit will continue facebookcoin will not stand long in crypto industry because all we know that the number one thing that the investors will look before investing is security.

[RDNX]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

Well, that is quite true. Since I've heard that Facebook selling user information, I rarely using Facebook again.
So, if Facebook adapts cryptocurrency payment, I think I will also not using their cryptocurrency system. 

[casperBGD]

it is true that Facebook does not care much regarding privacy of their users, but we should note two good things in this one:
- a lot of users does not care/think about their privacy, so this is not an issue, as we saw in previous facebook data management;
- facebook global coin will provide info about crypto currencies to general population, and provide much space for crypto to soar

[CryptoBry]

I think we will feel positive changes in the privacy policy, if they do not just create their cryptocurrency but also try to use blockchain technology to improve data security.

To transfer such an old and huge social network like facebook to the blockchain will be very difficult. I do not think that they will decide to radically change their policies and produce innovations. But perhaps this will be easier to create on their mobile application. It will be interesting to observe the development of this story.

No, I don't think there is the proposal actually of transferring Facebook to the blockchain. Facebook's GlobalCoin is technically a standalone project. I am sure this cryptocurrency will be utilized within the platforms under the control of Facebook but beyond that fact we still do not know how this project will finally be that's why I prefer to wait before making any conclusion. I am sure that Facebook or the team behind this project will be addressing the many concerns we have especially on this forum at the right time and forum. On the brighter side, what we are witnessing is actually the recognition of the technology behind cryptocurrency and I am sure that there will be more big names who will join this bandwagon.

[masterrex]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

Confidentiality ,Privacy or what we call it. for me it doesnt matter anymore. Since we are all in cryptocurrency industry, we just easily give our data to the KYC! that was a very good example that our Privacy or Confidentiality was already gone in our time. remember we are using Internet no matter what we do our information are in danger to leaked and use by others. Thats why for me Facebook venturing into cryptocurrency space is just and ordinary thing and nothing has change. our Privacy are already gone thats the fact.

[marcbitcoins]

All of the ICOs and companies (our work,utilities and other services) might sell our data to highest bidder without knowing it so it's unfair if we will just only accused Facebook of doing it. For me, it is good Facebook will join the crypto currency market as the name already build a foundation of trust among users and these users will become future crypto investors helping the Crypto market to become more strong and healthy.

[jrrsparkles]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

But still people trusting them and using facebook platform by billions of people.But when it comes to crypto centralized will make the introduction of crypto on their platform makes no sense so if anyone want to invest  just based on their reputation are talking huge risk of giving their address traces which might turns out into a problem later.

[Burogh]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

As far i know, facebook or others social media selling our behaviour patterns on their social media for research. But i dont think social media platform selling our personal database because it should be confidential. If facebook launch their own cryptocurrency, i think its good and could attract many investor

[bartolo]

The funny thing is that when Facebook launches their coin they will ensure people that it will be private and that transactions will be confidential. Anyway, anyone that will use their coin knows what they are doing.

[leea-1334]

Of course, data confidentiality should come first for any company. But what do we see in reality? Mobile operators sell databases, sometimes it seems that even banks spread information about the contact information of their users. If Facebook adapts cryptocurrency payments, it will only help its rating. There previously were much info that Facebook confidentiality = zero, everyone can buy user's password, what r we gonna see if they launch crypto payment?

Companies are all about profit, remember that. They will make money doing something they are not supposed to do,,, as long as they believe they do not get caught. Listen to Zuckerberg at the trial,,, he admits a few things and pretends he does not understand some things. He knows he talks to old people but acts so cocky. Even caught, he wants to be the good guy and make it look like he was not really doing anything wrong.