The Good
Digital coins have the potential to transform the entire financial industry; the way email transformed the way we communicate in writing and the way the mobile phone changed the way we interact with each other.
Imagine you are too late for an appointment and trying to inform your friend that you are late without cell phones around… You would try to find a phone booth, park your car, open your address book to find the phone number, find a dime in your wallet and dial the number, hoping your appointment is sitting next to the land line you are calling.
How about life without email? Or life without internet… That would be pretty inefficient. So, we as a society have digitalized the way we speak, write, buy goods and interact with each other. In the financial industry, there is still a lot of human interaction, and manual labor to complete transactions. The 4-eye principal is written in every compliance manual of financial companies and banks. Besides the manual input, the majority of the financial companies including banks are intermediary services or brokers. A bank is at its core a broker between people who have money (deposits) and people who need money (loans). Assist people who have money (debtors) to transfer to people who need money (creditors) for delivered services or goods. With digital coins this is completely automated in a way that no manual labor is needed, hence no human errors and its structured as a peer to peer system, build on blockchain technology, permissionless, global network, alternate means of storing value, making the bank completely obsolete! Furthermore, it will launch so many applications for the future, that is the true beauty of it!
The Bad
Some banks are rated as countries so large are these institutions with 100,000 plus employees. Millions of jobs will become obsolete. People sitting at home 4 –eyeing their welfare check. Causing people talking about a bubble in the making of Bitcoin and other cryptocurrencies. In my opinion, there is a recession in the making with all these jobs at risk at the banks and financial institutions. CEO's and advisory boards have a responsibility here to adopt new technology but most likely they will be to slow to adopt this in their organizations and end up playing with the livelihood of millions of families. Even with the current technology and automation systems, banks need a processing time of 3 days for a foreign transaction. Do the math.
The Ugly
A lot of the altcoins currently out there are probably complete shit and will go to zero. It's game of thrones though. They need to compete to find the next Google's, Amazon's and Facebooks that will change the world. But there is a huge number of ICO's that are scams. A lot of exchanges are corrupt. They are predatory and take advantage of their customers as digital currencies have something that his hard to grasp. It is so simple yet it is revolutionary. It can make so much impact that in another scenario, the "Bad" could end up being the "Ugly". The smartest people in the world are working in the field of cryptocurrencies and the industry has evolved from a simple payment token to tokens and coins that are learning machines to communicate with each other. Ph.D. candidates are involved in creating Artificial intelligence in coins or protocols. Machine learning, AI, peer to peer and a lot of money and investments are flowing into the development of these protocols. Remember Terminator and Skynet…. I'll be back…
Tradebits is currently running an ICO and the Bonus is 27.5% don't miss out on this one.
www.tradebits.co
Waseem Sadiq - CEO Tradebits
Amresh Bajnath - CFO Tradebits
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I guess this indeed is one of the best reasons to adopt this new technology, how many losses have companies made due to inevitable human errors.
Interesting,im checking out tradebits immediately! Thanks for sharing
It is true! Give good comments and be a great personal friend in following the development of a very competitive market. Have a good day, my friend.
You are right @seha76. I appreciate your logical comment. Sir @abajnath beautifully described it. I think Tradebits will be a most successful platform.
yeah,friend @seha76 writing very best comment.my dear friend.. @abajnath always describing doing every tropic perfectly.because he is a brilliant person in this community.otherside obviously its very truth that tradebits is one of them best platform in this community and very soon its being successfull..friend.. @msena
Tradebits is a great platform. I like the great tokens offer.
I love tradebits. Great token offer. Excellent crypto analysis by the honourable CFO of tradebits.
Digital currency is our future. We should invest here to change our life. I love and support tradebits.
Hi @abajnath! Great to enjoy your posts. I think, experience has brought you up. Thank you for giving us lots of lessons about Bitcoin, Crypto, ICO and Fiat! 👌
yeah,my dear good friend.. @abajnath crypto is a big thing of blockchain technology.so,everyone should be believe this community..i am always want to success of your tradebits platform.really good job..my best friend.. @abajnath
Yeah Tradebits is an excellent platform and sir @abajnath is the CFO of Tradebits. I believe Tradebits will be a most successful platform.
yeah,friend.. @msena you are telling right thought..@abajnath very great person this platform..thank you..
Great words @timuann. I appreciate valuable comments.
Thanks for you my friend @abajnath
i am obviously thanks to knowing for my brilliant friend.. @abajnath for your excellent explantation causes..best of luck dear @abajnath
Yes such a valuable explanation. We learn a lot about cryptocurrency.
Thanks for your beautiful comment @mistakili
Thanks for you @abajnath
yeah friend,its very good post of crypto anylysis..thank you..my dear friend.. @abajnath
Thanks for your support friend @timuann
thank you friend..@osakadd my dear friend.. @abajnath always describing very properly and sharing important thing this platform matter..so,its only can a talented person..of @abajnath..thia time i resteem your post..
thank you friend..@osakadd my dear friend.. @abajnath always describing very properly and sharing important thing this platform matter..so,its only can a talented person..of @abajnath..thia time i resteem your post..
Great Post @abajnath
Thanks for sharing this crypto
Best of luck in your every post
Thanks for sharing
Well said friend. I agree with you.
Great words my friend. I'm totally agree with you.
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We all should definitely get involved in your project. I’ve done my homework and one day I know I won’t regret it. I’m your follower on tradebits telegram. I’ve seen a lot happening recently.
“BUY NOW, OR CRY LATER”
You are saying right that "buy now or cry later." Because it's a big offer for us.
you are saying very right..friend.. @rothberg "buy now,or cry later" its very big offer for every steemians..
Thanks for you for your comments..
Thank you very much for the reply.
Great explanation @abajnath. A digital currency is a form of currency that is available only in digital or electronic form, and not in physical form..
Right , He always explain logically ..@prince121
Not i am, @abajnath explain very nicely......@maxi01
Only tradebits can gives us a lot of profits. So we can invest here. Hope we will be rich.
Right , Tradebits give us a lot of opportunity @alves
True defination..... I appreciate it..@prince121
Thanks for appreciating me @roki112
Indeed, Great logical defination and appreciating it for me
You are welcome @toymax7
Thanks for your beautiful comment @prince121
Welcome...!!!
Please understand sir @abajnath post and comment it..
Prince bro you have made some small mistake in the comment. Fix it.
You have wrote fred703 instead of sir @abajnath.
I honestly can imagine and some times I wish we go back to no phone, no internet zone. But you are right, it would be very difficult for today’s generation. I agree with you about the “ugly”. There always has to be ugly in something good. We just have to be cautious.
What a great viewpoint, my friend. I think your ability is not doubtful. Thanks!
Absolutely right @milano1113.
Dear friend you always create great comments. I agree with you..
Thanks for you
Digital currencies are intangible and can only be owned and transacted in by using computers or electronic wallets which are connected to the Internet or the designated networks.
Thanks for you for your comments.
Nice point...@maxi01
Thanks....
You are welcome...
Wonderful explanation like @abajnath
I am thankful for your reply..But @abajnat gives very nice explantion @roki112
Excellent thought ...@maxi01
Thanks ..
Best regards !!!!!!!
Agree with you @maxi01. You are right.
I also agree with you ..
Lol...!!!
Diggital currency is always my favourite. And i'm happy as sir @abajnath's tradebits gives us a huge bonus.
Right sir @abajnath always give us nice info about great offer of tradebits
Helpful infor....@maxi01
Digital currencies have all intrinsic properties like a physical currency, and they allow for instantaneous transactions that can be seamlessly executed for making payments across the borders when connected to supported devices and networks
Thanks for your beautiful comment @raisha1
Yeh !!
Digital currency is so helpful for us...and popular also..@raisha1
Indeed...!!!
It has more benefit for transaction
You are absolutely right. Digital currency is very helpful.
Thanks for your opinion. sir @abajnath already gives this info. in this post.
Effective voice... @raisha1
Sir @abajnath thought was more effective than me @roki112
Right thoughts @raisha1. I agree with you.
Diggital currency is the most precious cureency. I appreciate your great words.
There are many benefits associated with digital currencies, such as the ability to easily make payments on time and lower transaction costs.
Another manner in which digital currencies can help organization is by eliminating/reducing the exposure risks by using them as a transport currency.
Yes, there is a lot of benefits. You are saying absolutely right.
Right @roki112 .. We will get more benefits from digital currency..
Sir @abajnath you have nicely described the good and bad sites of crypto sector. Though every sectors have good and bad sites but I believe cryptos are our future and recently it had changed the economical system like most faster and smart payment system which makes the world more closer. Always welcome your great platform Tradebits. Success is always with Tradebits.
Thanks for you for your comments..
Thank you so much for the reply.
You are most welcome @msena
So true! Great thought my friend is. Thanks!
Thank you. I appreciate it..
Great words @msena. I also love tradebits and love sir @abajnath.
Thank you naim. We also love him. He is a great man.
That is really great for us...@abajnath
Cryptocurerncies are digital and cannot be counterfeited or reversed arbitrarily by the sender, as with credit card charge-backs.
I appreciate your great thoughts.
Wonderful discussion about a great topic..@abajnath... There are approximately 2.2 billion individuals with access to the Internet or mobile phones who don’t currently have access to traditional exchange systems....!!!!!!!!
I appreciate your points @khaled02. Your points are very logical.
Great statistical point about digital currency..@khaled02
Yes.. !!!!!!
Now a days exchange system become more and more..
That’s true about people loosing their jobs at banking industry. But that is how innovative economy works. Old outdated jobs are lost and new jobs becoming the future. I personally don’t see any issue in this.
Absolutely agree! Very good thoughts and words of my friend.
You are also right but sir @abajnath is a deep thinking man. We love him.
crypto is a big important thing in this community and asset for bright future all steemians.thank you very much for your awesome explaning thought.i respect your every brilliant explaning quality.just mindblowing.. my dear friend @abajnath
Crypto is a big asset. Sir @abajnath described it details. I appreciate your great comment.
hello,how are you? my dear friend.. @abajnath you are really talented person in this platform.its proved it your describing proper skills.today you sharing very good thing of crypto matter.i think that every steemians to knowing should be crypto good and bad sector causes.but this time its up and down for economic system.everything have good and bad thing.but i am obviously believe this platform.because personally i hope that one day crypo market position reach to big position and we can doing bright future in this community..thanks to sharing for your brilliant explanting theory of crypto..my dear friend.. @abajnath
Important points you are talking. Sir @abajnath is a great man. I love him and his tradebits.
It's fun to read carefully about good, bad, and ugly money. You analyze with extraordinary abilities. Thanks for sharing my dear friend.
We really miss you @abajnath and we always look forward to you with other great news.🙏
Thank you my friend. I'm totally agree with you.
Very pleasant to read your article. The way you explain exposure is clearly based on the current reality. Thanks @abajnath!
Success is always my friend. Have a good day @abajnath!
Very good and pleasant comments, that's cool.
Beautiful crypto
I love bitcoin. I appreciate your valuable content. thanks for sharing this..
Smart thinking and logical evaluation related to the development of digital money. Thank you very much @abajnath! 🙏
Have a wonderful day @abajnath!
That's great comment
Beautiful crypto
I like it bitcoin. I appreciate your valuable content. thanks for sharing this
Thanks for your comments @osakadd
Great Post
I love bitcoin. thanks for sharing this crypto.
Great thoughts sir. You always saying right. I appreciate your valuable thoughts about Cryptocurrency. I love your Tradebits.
Yes he is a great guy. You know he is the CFO of Tradebits.
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STOPHello sir.
currency is the most helpfull in our life. We should invest here to change our life. I love and support tradebits.
My heart felt love for you sir @abajnath. You are a great man. Love your great project Tradebits.
Thank you @mhyeasin. We are feeling proud of him.
You are great person of steemit @abajnath
Tradebits is always my favourite. Thanks a lot for discuss about digital currency and offering us a great bonus on the purchase of Xbits.
Me too. Yes Tradebits gives us a big oppurtunity purchase on XBITS Tokens. So don't miss it friend.
Beautiful crypto @abajnath
The main objective of the crypto currencies is to give the complete power to its owner, in short "Be your own Bank", fiat currencies are prone to political manipulation.
Great analysis. I think its pretty obvious that riding the tide of technological innovations is a necessity of our present generation. Perhaps you could recommend more companies that have in their corporate philosophy a predilection to adapting to the evolving trends in technology.
Most welcome sir
You so great man really sir.
I love Bitcoin...
Really @abajnath great
Thanks
I am your post upvote and resteemit done
Thanks
Most welcome
I am your post upvote and resteemit done
Thanks
Most welcome
Thanks for sharing
Best of luck
Thanks you
Thanks for sharing this crypto
I love bitcoin. thanks for you
I love digital currency and also loves sir @abajnath's tradebits. Thank you sir for offering us a great offer.
good and informative piece you have a nice angle that look onto it
Congratulations @abajnath!
Your post was mentioned in the Steemit Hit Parade in the following category:
Im personally a fan of the good