For me, I think like everything else, it can be good or bad, depending on how you look at it and also how you utilize it and what exactly is your reason for using it.
Some people use it for all the wrong reasons, to extort money from innocent people, to find someone to marry for a green card or something, to find partners for one night stands, and so on.
Some people, like me use it to meet new friends, stay in touch with old friends/ colleagues/ classmates/ schoolmates and so on, find people to network with, find people who share the same interest like me, and so on.
So I guess it is just how you want to make use of it. And like everything else in life, it can be your best friend or your worse enemy.
I love facebook as it had enabled me to find friends whom I thought I've lost, old school mates, class mates, working colleagues etc, etc. I also enjoy playing games like Farmville, Scrabble etc, and sharing parts of my life with my friends overseas and such.

I've found such amazing friends over facebook and facebook and my new friends has helped me on my hobby 'collections' and so on.
But of course, whatever it is, always be cautious of the people you do not know, even online as there will be someone who is always looking to take advantage of someone else even online by trying to cheat them, or extort money or so on..
I've people asking money because they need operation, dubious people 'falling in love' with my pictures, and who would love to have a 'relationship' with me. I simply ignore them and 'unfriend' them and delete their posts. My husband and kids are also on facebook and naturally we keep each other safe as well by being there and checking each other's profiles from time to time.

And so you have it.. Facebook.. It is a necessary to me as emails as well, but you have to learn not to abuse it or let other people abuse or spoil it for you.. LOL
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