online currencies have become more common in recent years.
why is this happening?
is this a positive or negative development?
The issue of digital currencies have sparked a heated discussion among people these days, thereby making them more popular. The distrust in today's monetary system and the practicality of its use seem to be the main triggers why such trend occurs, in my opinion this will result in positive and negative development, which I will further outline below.
In regard to the reasons, many deem that current monetary and banking systems are a scam. This is because these have some flaws namely interest rate and inflation. To further explain, people, no matter how long they have saved money, will be disappointed by the fact that their value of cash significantly decreases. Then, the governments and its central banks are able to alter their interest rate according to their interests. Compared to digital currencies, they are resistant to such demerits. Furthermore, the use of digital money such as bitcoin is way more practical. People can transfer money to others' digital wallets easily, with the transaction security being guaranteed, thanks to the blockchain technology.
Moving on to my argument, firstly, it will be advantageous for individuals, businesses and states to track their transactions. This prevent serious financial crimes like corruption and bribery from happening. Nevertheless, the fact that this payment tool is no profoundly regulated is the threat to its use. People may potentially experience financial loss if their digital accounts or wallets are hacked. When this occurs, they cannot regain their assets or take the case to the court.
Taking everything into account, the reasons behind the popularity of this currency lie on the disbelief in the current system and its effortless use. I would contend thatbthis is equally beneficial and detrimental development. The ability to track transactions is a positive aspect as long as this currency is comprehensively regulated by the authorities.
| Post date | Users | Rates | Link to Content |
|---|---|---|---|
| 2024-01-06 | deep979kaur | 73 | view |
| 2023-01-07 | ieltsstudent | 93 | view |
| 2022-06-12 | ashkan zaheri | 89 | view |
| 2021-08-26 | Vinuki@U | 56 | view |
| 2021-07-21 | khuekhue | 73 | view |
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Grammar and spelling errors:
Line 3, column 635, Rule ID: WHITESPACE_RULE
Message: Possible typo: you repeated a whitespace
Suggestion:
... money to others digital wallets easily, with the transaction security being guar...
^^
Line 7, column 51, Rule ID: WHITESPACE_RULE
Message: Possible typo: you repeated a whitespace
Suggestion:
...rything into account, the reasons behind the popularity of this currency lie on t...
^^
Transition Words or Phrases used:
first, firstly, furthermore, if, may, nevertheless, so, then, such as, in my opinion, in regard to
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 15.0 13.1623246493 114% => OK
Auxiliary verbs: 8.0 7.85571142285 102% => OK
Conjunction : 11.0 10.4138276553 106% => OK
Relative clauses : 5.0 7.30460921844 68% => More relative clauses wanted.
Pronoun: 31.0 24.0651302605 129% => Less pronouns wanted
Preposition: 34.0 41.998997996 81% => OK
Nominalization: 8.0 8.3376753507 96% => OK
Performance on vocabulary words:
No of characters: 1625.0 1615.20841683 101% => OK
No of words: 302.0 315.596192385 96% => OK
Chars per words: 5.38079470199 5.12529762239 105% => OK
Fourth root words length: 4.1687104957 4.20363070211 99% => OK
Word Length SD: 2.93633937811 2.80592935109 105% => OK
Unique words: 182.0 176.041082164 103% => OK
Unique words percentage: 0.602649006623 0.561755894193 107% => OK
syllable_count: 503.1 506.74238477 99% => OK
avg_syllables_per_word: 1.7 1.60771543086 106% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 6.0 5.43587174349 110% => OK
Article: 7.0 2.52805611222 277% => Less articles wanted as sentence beginning.
Subordination: 1.0 2.10420841683 48% => OK
Conjunction: 0.0 0.809619238477 0% => OK
Preposition: 4.0 4.76152304609 84% => OK
Performance on sentences:
How many sentences: 17.0 16.0721442886 106% => OK
Sentence length: 17.0 20.2975951904 84% => The Avg. Sentence Length is relatively short.
Sentence length SD: 39.7899328263 49.4020404114 81% => OK
Chars per sentence: 95.5882352941 106.682146367 90% => OK
Words per sentence: 17.7647058824 20.7667163134 86% => OK
Discourse Markers: 5.76470588235 7.06120827912 82% => OK
Paragraphs: 4.0 4.38176352705 91% => OK
Language errors: 2.0 5.01903807615 40% => OK
Sentences with positive sentiment : 8.0 8.67935871743 92% => OK
Sentences with negative sentiment : 5.0 3.9879759519 125% => OK
Sentences with neutral sentiment: 4.0 3.4128256513 117% => OK
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.187397667563 0.244688304435 77% => OK
Sentence topic coherence: 0.0563910135914 0.084324248473 67% => OK
Sentence topic coherence SD: 0.0567339605778 0.0667982634062 85% => OK
Paragraph topic coherence: 0.125413201354 0.151304729494 83% => OK
Paragraph topic coherence SD: 0.0473587130129 0.056905535591 83% => OK
Essay readability:
automated_readability_index: 12.8 13.0946893788 98% => OK
flesch_reading_ease: 45.76 50.2224549098 91% => OK
smog_index: 8.8 7.44779559118 118% => OK
flesch_kincaid_grade: 11.1 11.3001002004 98% => OK
coleman_liau_index: 13.63 12.4159519038 110% => OK
dale_chall_readability_score: 9.66 8.58950901804 112% => OK
difficult_words: 99.0 78.4519038076 126% => OK
linsear_write_formula: 11.0 9.78957915832 112% => OK
gunning_fog: 8.8 10.1190380762 87% => OK
text_standard: 11.0 10.7795591182 102% => OK
What are above readability scores?
---------------------
Rates: 89.8876404494 out of 100
Scores by essay e-grader: 8.0 Out of 9
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.