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10 Advantages and Disadvantages of Social Media for Society

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How To Begin Your Career Path As A Digital Nomad

Social media has grown tremendously in the last few years. From 2006 onwards the growth rate is unexpectedly very high. Specially Facebook and Twitter have grown much faster and captured millions of users in just a few years. The way technology is growing, it is obvious that more and more people are going to grasp its benefits. It has brought a lot of advantages for the society. From progressed nations to under-developed countries, every nation is utilizing the power of social media to enhance life and use it for the bitterness of the people.

However, on the other hand it has also affected the society in the negative way. Just like anything which can be used for both good and bad, social media have also provided the negative and positive ways for the people. It is all about the usage and getting things done positively by using the power of social media. It is in the hands of the user to use to its advantage. But willingly or unwillingly it can still have negative impacts on the users. Today in this article I am going to discuss both the advantages and disadvantages of the social media for the society.

Let’s start with the disadvantages first, because the advantages are numerous and everything is perceived to have a positive effect unless it is used negatively.

Advantages and Disadvantages of Social Media

10 Disadvantages of Social Media for the Society

1: Cyberbullying – According to a report published by PewCenter.org most of the children have become victims of the cyberbulling over the past. Since anyone can create a fake account and do anything without being traced, it has become quite easy for anyone to bully on the Internet. Threats, intimidation messages and rumors can be sent to the masses to create discomfort and chaos in the society. Check out the 6 cyberbullying stories that turned into suicide stories.

2: Hacking – Personal data and privacy can easily be hacked and shared on the Internet. Which can make financial losses and loss to personal life. Similarly, identity theft is another issue that can give financial losses to anyone by hacking their personal accounts. Several personal twitter and Facebook accounts have been hacked in the past and the hacker had posted materials that have affected the individuals personal lives.  This is one of the dangerous disadvantages of the social media and every user is advised to keep their personal data and accounts safe to avoid such accidents.

3: Addiction – The addictive part of the social media is very bad and can disturb personal lives as well. The teenagers are the most affected by the addiction of the social media. They get involved very extensively and are eventually cut off from the society. It can also waste individual time that could have been utilized by productive tasks and activities.

4: Fraud and Scams – Several examples are available where individuals have scammed and commit fraud through the social media. For example, this list contains the 5 social media scams that are done all the time.

5: Security Issues – Now a day’s security agencies have access to people personal accounts. Which makes the privacy almost compromised. You never know when you are visited by any investigation officer regarding any issue that you mistakenly or unknowingly discussed over the internet.

6: Reputation – Social media can easily ruin someone’s reputation just by creating a false story and spreading across the social media. Similarly businesses can also suffer losses due to bad reputation being conveyed over the social media.

7: Cheating and Relationship Issues – Most of the people have used the social media platform to propose and marry each other. However, after some time they turn to be wrong in their decision and part ways. Similarly, couples have cheated each other by showing the fake feelings and incorrect information.

8: Health Issues – The excess usage of social media can also have a negative impact on the health. Since exercise is the key to lose weight, most of the people get lazy because of the excessive use of social networking sites. Which in result brings disorder in the routine life. This research by discovery will shock you by showing how bad your health can be affected by the use of the social media.

9: Social Media causes death – Not just by using it, but by following the stunts and other crazy stuffs that are shared on the internet. For example bikers doing the unnecessary stunts, people doing the jump over the trains and other life threatening stuffs. For example in this video 14 year old from Mumbai was doing stunts on a running train which caused his death. These types of stunts are performed by the teenagers because of the successful stunts made and shared over the social media.

10: Glamorizes Drugs and Alcohol – One of the disadvantages of the social media is that people start to follow others who are wealthy or drug addicted and share their views and videos on the web. Which eventually inspires others to follow the same and get addicted to the drugs and alcohol.

10 Advantages of Social Media for the Society

1: Connectivity – The first and main advantage of the social media is connectivity. People from anywhere can connect with anyone. Regardless of the location and religion. The beauty of social media is that you can connect with anyone to learn and share your thoughts.

2: Education – Social media has a lot of benefits for the students and teachers. It is very easy to educate from others who are experts and professionals via the social media. You can follow anyone to learn from him/her and enhance your knowledge about any field. Regardless of your location and education background you can educate yourself, without paying for it.

3: Help – You can share your issues with the community to get help and giddiness. Whether it is helping in term of money or in term of advice, you can get it from the community you are connected with.

4: Information and Updates – The main advantage of the social media is that you update yourself from the latest happenings around in the world. Most of the time, Television and print media these days are biased and does not convey the true message. With the help of social media you can get the facts and true information by doing some research.

5: Promotion – Whether you have an offline business or online, you can promote your business to the largest audience. The whole world is open for you, and can promote to them. This makes the businesses profitable and less expensive, because most of the expenses made over a business are for advertising and promotion. This can be decreased by constantly and regularly involving on the social media to connect with the right audience.

6: Noble Cause – Social media can also be used for the noble causes. For example, to promote an NGO, social welfare activities and donations for the needy people. People are using social media for donation for needy people and it can be a quick way to help such people.

7: Awareness – Social media also create awareness and innovate the way people live. It is the social media which has helped people discover new and innovative stuffs that can enhance personal lives. From farmers to teachers, students to lawyers every individual of the society can benefit from the social media and its awareness factor.

8: Helps Govt and Agencies Fight Crime- It is also one of the advantages of the social media that it helps Governments and Security Agencies to spy and catch criminals to fight crime.

9: Improves Business Reputation – Just like it can ruin any business reputation, It can also improve business sales and reputation. Positive comments and sharing about a company can help them with sales and goodwill. Since people are free to share whatever they want on the social media, it can impact positively when good words are shared.

10: Helps in Building Communities – Since our world has different religions and beliefs. Social media helps in building and participating in the community of own religion and believes to discuss and learn about it. Similarly, people of different communities can connect to discuss and share related stuffs. For example Game lover can join games related communities, car lover can join communities related to cars and so on.

These are some of the advantages and disadvantages of social media for the society. However, these are the enough advantages and disadvantages to decide which way to go on the social media.

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Investing in bitcoin: Must know about the Digital Wallets

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Healthcare systems and the Blockchain

Bitcoin is one of the most used and famous cryptocurrencies in today’s time. This was announced in the year 2008 and was launched in the year 2009 by the anonymous person who is an anonymous person who is named Satoshi Nakamoto. This was the whole new concept given by him.

Initially, the value of bitcoin was nothing, but later with time, it has earned its existence, and the value of a single bitcoin is around $40000. This is a considerable amount. The persons who had invested in bitcoins in the early stage had become billionaires today. Even this is still the future. And one should start investing in bitcoin.

Initially, when there was no digitalization, it was very difficult for people to know the concept of cryptocurrency. Still, now, with time, modernization is there, and most people today are using smartphones and digital devices. So, it is now straightforward to do transactions with the cryptocurrencies as now there are a large number of digital wallets present that can be used to earn, sell or can be used to know the statistics of the particular cryptocurrency. This is a great thing.

Basically, what are digital wallets?

Digital wallets are the ones that have been used to do transactions with bitcoins or any other cryptocurrencies. In early times, everyone had to go to the bank to do their transactions of deposit withdrawals, but now this is not the case. Digital wallets have made the life of people very easy.

There are so many benefits of using digital wallets:

  • Digital wallets have made the life of people very easy as everything can be managed very easily with just a single click. The whole thing is in their hands which can be managed very easily.
  • These can be used to check the prices and the price difference in the cryptocurrencies between specific periods.
  • Digital wallets can be used to transfer money from one person to another in a significantly less time period.
  • The transaction charges which are charged from the user are significantly less.

Even today, the technology has moved so fast that the user can make transactions with the help of debit cards. Yes, that’s true today; the user can use debit cards full of cryptocurrencies to make the transactions. The person can load his debit card on btcrevolution.io with the help of digital wallets. Digital wallets are beneficial for these purposes.

If a person wants to start investing in bitcoins, he needs his PAN card for the proof, and then he can easily sign up in his account in the application. Then he can start investing in bitcoins very easily. 

Benefits of Investing in Bitcoins or any other Cryptocurrencies

  • These provide users with profits in a very less time period.
  • The transaction charges are very less.
  • There are no middlemen in between.
  • It takes very little time for the transaction to take place.
  • All the transactions are completely secure and can take place very easily.
  • All the transactions are made private; no one can take a view of your transactions.

Some drawbacks of using the Bitcoin Platform

There are some drawbacks to using this platform which can be easily prevented by just taking care of a few things. In this, as we know that all transactions made are private, so if the person sends the money to the wrong account, then the money cannot be retrieved at any cost. This is one of the biggest and major drawbacks. But this can be prevented if the user does the transactions carefully.

Conclusion

Cryptocurrencies are prevalent in today’s time. Even now, the crypto transactions can be made at ease as earlier we have discussed that there are various digital wallets that can be used to make the transactions. These are very helpful as all the features are so interesting and can be easily managed just by using your smartphone. 

There are various exciting features like sending the money from one user to the other, receiving the money, and even making international transactions. As these are the universal currencies all over the world, then they can be used at any place and can be sent to anyone at your ease.

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Is it Possible to Make Money On a Mining Farm in 2021?

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Crypto as Leading Industry in 2021

Mining cryptocurrencies used to be a viable choice for making profits in the past. But crypto entrepreneurs have swayed away from this method of acquiring crypto. They now buy bitcoins (BTC) or other cryptocurrencies and sell them for a higher price instead. 

With large mining operations dominating the landscape, mining has become an increasingly difficult venture to partake in. Some may even think of it as a defunct way to acquire crypto. 

However, with the recent bull run, a lot of us are asking ourselves – is crypto mining still worth it in 2021?

In this article, we will try to answer that exact question. We will consider equipment and running costs, and how to determine the profitability of your mining farm.  

Before we begin, let’s go through some basics of cryptocurrency mining. 

What is Cryptocurrency mining?

Mining is the process of validating transactions on the blockchain by using computing power. To do this, high-powered computers (miners) solve increasingly difficult math problems and create new data blocks of transactions. 

In exchange for their efforts, miners are rewarded with new coins created through the process. This is known as a proof-of-work (PoW) consensus mechanism. 

Today, mining rigs have evolved into two main categories: 

  • ASICs – which are expensive, specialized computers that can be used only to mine cryptocurrencies. 
  • GPU Rigs – Computers that contain one or more graphic cards where GPU power is used to mine cryptocurrencies. The more cards, the higher the computational power will be. 

Keep in mind that certain cryptocurrencies like Bitcoin are mineable only with ASICs, while others like Ethereum can only be mined with GPUs (ASIC resistant). 

Crypto Mining Global Trend

What to consider when mining cryptocurrencies?

When trying to calculate mining profitability, there are three main aspects that you need to consider: 

  1. Revenue

There are several criteria to watch out for to increase your mining revenue: 

  • Mining Difficulty – as more miners join the network, the difficulty to mine new coins increases. If your hardware computing power (hashrate) can’t keep up, you will be mining at a loss. 
  • Coin switching – cryptocurrencies are a volatile asset and their price fluctuates by the minute. Miners often switch to a different coin to optimize their revenues. 
  1. Running Costs

Maybe the most important of all three pillars in cryptocurrency mining is the operational expenses you will be facing on a daily basis. This mainly includes the costs of electricity in your region, as mining rigs are power-hungry machines. 

There are also additional expenses to consider like mining pool fees, cooling fees, mining software fees, and maintenance costs. 

  1. Investment Costs

The required equipment is the initial paywall to start cryptocurrency mining. For example, a top-of-the-line ASIC miner can cost anywhere between $1,000 and $3,000. 

Older ASICs might be cost-friendly, but their inefficiency will diminish your profits considerably. 

Building a GPU rig can be a more democratic venture for beginners as they are cheaper and more versatile solutions. 

So is mining still profitable in 2021?

Is it profitable to mine crypto in 2021?

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The answer to this question cannot be answered by a simple yes or no. Making profits from mining depends on a combination of all the factors previously stated. 

Let’s illustrate this by a couple of examples using the calculator found on CryptoCompare:

Bitcoin Mining Cost

Bitcoin mining for individual investors is rarely worth it anymore because of the highly competitive mining sphere. 

Here’s an example of a $1500 initial investment: 

  • Coin Mined: Bitcoin
  • ASIC : $1500
  • Hashrate: 85TH/s 
  • Power draw: 3000 watts
  • Electricity Cost:  $0.12 per kWh
$6700 in march 2021

With these parameters, the calculator gives us a projected profit of around $5600/year. Even in this bull market, you would need a short of 3 months just to break even with your initial investment making this an extremely risky venture. 

Altcoin Mining (Ethereum)

The other option is to invest in a GPU rig. GPU mining can be quite profitable if done right. 

Let’s consider the same initial investment of $1500. 

  • Coin Mined: Ethereum Classic
  • GPU Rig : $1500
  • Hashrate: 170 MH/s 
  • Power draw: 1000 watts
  • Electricity Cost:  $0.12 per kWh
$755 in march 2021

The results are much more appealing, with over $755 per annum. Your investment should be returning profits in just over a year. 

Wrapping up

To summarize, if you avoid ASICs, you can still make profits with a mining farm. For the average consumer, it would be unrealistic to try and compete with Bitcoin mining giants.

However, mining alternative cryptocurrencies with a GPU can still be quite profitable. Make sure you do your due diligence and use tools like BetterHash to calculate your profitability and stay on top of the competition. 

Worth noting that there’s a new generation of GPUs just around the corner. Combined with the ongoing cryptocurrency bull market, it might be just the right time to start a mining farm.

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Digital Transformation as a Way to Increase a Company’s Revenue

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Digital Transformation as a Way to Increase a Company’s Revenue

Digital transformation of business is nothing new in the business world, but with the pandemic’s onset, we are seeing an incredible surge in this direction. The need to organize employees’ remote work has become a hassle, but a prerequisite for the survival of a business.

Digital Transformation as a Way to Increase a Company’s Revenue

Box yesterday released its Q4 2020 report, which said the company had revenues of $199 million. According to the company, this is 12% more than in the previous year. As a reminder, the company provides cloud content management and file sharing for businesses. The company uses a freemium business model to provide cloud storage and file hosting for personal accounts and businesses.

Such indicators of profit indicate that the business of the company is going up. Also, keep in mind that last year, Starboard Value bought a 7.5% stake in Box. Now we can say that the company lives up to the expectations of the investor.

I believe that digital transformation services and solutions are the main reason for this kind of development these days for a lot of different businesses.

Box CEO Aaron Levy said the pandemic was an excellent trigger for companies to move to the cloud much faster than anyone imagined. He said that being a digital company, he quickly moved his employees to work from home WFH. Maintain efficiency with tools such as Slack, Zoom, Okta, and of course, Box.

The digital tool has helped businesses

The digital tool has helped businesses operate and demonstrate performance in difficult times. “We are fortunate to have been able to work in this environment. It helps that we have 100% SaaS, and we have a great digital engine for doing business,” he said.

He added: “And at the same time, as we said, we have achieved greater profitability. Thus, the enterprises’ efficiency also improved significantly, and as a result, we had an outstanding quarter with higher growth rates than expected and higher profitability than expected. As a result, we were able to raise our targets for revenue growth and profitability for the rest of the year,” Levy told TechCrunch.

Box decided to build its suite of products on a service platform. This allowed customers to take advantage of these essential services like encryption, workflow, and metadata and create their customizations or even full-featured applications using the tools Box has already built.

Time to switch to Cloud Solutions

I agree with the vision of Aaron Levy and also recommend our clients to switch to cloud solutions. If they already have a desktop application for business – the cloud is a good solution. You can read how to make a smooth transition from a desktop app to a cloud-based application in our article. Written on my experience with such projects. If you are considering the option of developing a cloud solution, then our specialist is ready to help you with the implementation of your project.

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