Radical Honesty in Facebook?

Many years ago I read Radical Honesty by Brad Blanton. In it he describes the psychological benefits of having no secrets. None. I often think of that book in the context of Facebook.

We all have a tendency to want to share the good bits in our lives. The celebrations, the successes, the joys, and the magical moments. This can make Facebook a source of comparison and jealousy. "How come so and so gets to travel more than me/always goes to parties/works with more interesting people?"

But could we cope with the alternative? As individuals would we feel comfortable sharing our weakest moments? As a group would we turn away if friends opened up "too much" or were consistently negative? As in the book one of the biggest challenges would be the impact of our honesty on those around us. What if they don't feel as enthusiastic about radical honesty as we do? Should we be prepared to deal with it and have the difficult conversations with them if they are not? Or should we protect them, keep things covered up, and risk not dealing with challenges and missing the opportunity of growth or moving on?

Is being more honest on Facebook a case of washing our dirty laundry in public or an opportunity for psychological maturity - or something in between? Should we be incessantly upbeat or more realistic? What do you reckon?