Well Martin Bryant doesn't think so.
He gives six reasons why it will have negative effects including the obvious one
Remember the man who tweeted that he was out of town and came back to discover his house had been burgled? In the near future that could be you even if you don’t mention you’re away from home. The geocriminals of the future will simply monitor tweeting location patterns. Most of your tweets will be likely to be sent from in, or close to, your home. When you’re tweeting from out of area they’ll swoop in and swipe your stuff.
Though before we all get too hung up about this potential,this will be an opt in rather than opt out feature but as Martin points out this
certainly devalue any analysis of Twitter location data. “200 tweets a minute are coming in from the disaster zone” is much more useful that what we’ll get – “We’re seeing 4 tweets a minute from the disaster zone; there might be more but they’re not sharing their location”.
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