Facebook and Security

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Most networking sites allow users to upload their pictures, add friends and invite other members to their profile page, facebook too, is the best of the the lot. Yet again, members are often requested to add to their update status whenever online. If so, its easy to track a persons daily activity. Do you think this could lead to online spamming, based on an individuals update on his latest hobby or interest? Do you not think that updating your activity status could actully allow expose more about yourself like your character, thoughts, personal opinions and best interests?