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Can we use "As far as I'm concerned" in place of "As far as I know"? Or, are there some specific scenarios where in we do not have to use one in place of the other phrase?

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Commonly, "As [/so] far as I'm concerned" is used in contexts where you're expression an opinion/desire about something where you either don't care much, or you don't anticipate changing your mind. Effectively, it's usually a somewhat negative response. On the other hand, "As far as I know" is far more likely to be used in contexts where you're trying to be helpful, but you're (often, somewhat apologetically) pointing out that what you think may not be totally accurate. –  FumbleFingers Jan 12 '12 at 18:31
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I don't think it should be used as a replacement.

"As far as I know" would indicate that you have partial (i.e. not complete) knowledge of the matter being discussed.

"As far as I'm concerned" would indicate you're expressing your opinion about the matter being discussed.

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They don't mean the same thing. "As far as I'm concerned" is roughly equivalent to "in my opinion" or "as it relates to me". "As far as I know" means what it says, something like "according to my knowledge".

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Both of them can't be as a replacements.

"As far as I'm concerned" : is when you feel to express the limit to which you really bother about a situation. Beyond that valid parameter actually you don't care to pay heed even if you know something.

Eg: As far as I'm concerned, my job for this module is done and anything extra would be done only after a long thought process.

"As far as I know" : is when you feel to express the extent till which you are aware or knowledgeable about the entity.

Eg: As far as I know, winters in North India are terribly cold and would range between 0 degrees to 2 degrees centigrade.

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