The salient facts of the new Cambridge Analytica scandal are bad, and the optics are even worse for Facebook, which is already facing multiple battles both in legal courts and the court of public opinion. But this really is just the spilled pot of a long-boiling problem: growing discomfort within our citizen-consumer class over predatory data mining and the unaccountable shadow agencies and corporations being given access to our private lives via social networks. Big Brother has been privatized, and it may turn out to be far more dangerous than anything George Orwell predicted.
Typically, Facebook has been able to duck, dodge, juke, and jive its way out of such entanglements because of the sheer ubiquity of social media in our daily lives, the market value of the company, and its ability to manipulate public opinion. But this time is different. The company hit the politicized buzzsaw of the 2016 election, which is still grinding and sparking from accusations concerning the use of Facebook to spread propaganda (which in reality, of course, is nothing new). In other words, “Facebook’ is appearing in more and more paragraphs containing “Russia,” and in today’s climate, that is worse than a decade of privacy violations. Continue reading “10 Decentralized Social Media Networks to Use Instead of Facebook”
(Natural News) The collapse of cryptocurrency is continuing apace, and yet there are still far too many people who continue to believe it really has a future. In recent days the U.S. Securities and Exchange Commission made a major move against cryptocurrency firms, issuing dozens of subpoenas — perhaps topping 100, some groups estimate — to companies that either conducted or advised on initial coin offerings, or ICOs, according to Simon Black for Sovereign Man.He added that readers of his are not surprised by that because, as he’s “long warned,” the ICO market is a scam and one of the largest bubbles he has ever seen.
He notes further:
A lot of people view ICOs as an asset class like stocks, bonds or real estate. But that couldn’t be further from the truth.
Initial coin offerings are simply a funding scheme.Companies looking to raise money will post a white paper on a website, post some pictures of their “C-suite executives,” and set up a Twitter account… that’s basically it.
The goal is to raise funds by issuing “tokens.” These tokens typically serve as pre-paid credits that can be used within the ecosystem of the company raising the funds. In other words, you’re not actually getting equity in the company… you’re buying a gift card.
“Think of it like the in-game credits you would buy (with real money) to get ahead in the old Facebook game Farmville. Outside of Farmville, those credits are worthless,” he added.
Black said that in the ICO markets investors are expected to pony up with almost no information and obvious, inherent risks to buying a prepaid service, often without fully evaluating whether there exists a legitimate secondary market for the purchased tokens.