Notes

Arif Efendi, Why Cryptocurrency Will Stay
Arif Efendi (a London-based entrepreneur) offers his views on cryptocurrency and Sweden's call to the EU to prohibit Bitcoin Mining.
Businessman Arif Efendi shares his view about cryptocurrency and Sweden's plans to prohibit Bitcoin mining.
Arif Elfendi businessman from Pakistan believes that cryptocurrency has been controversial in recent years. According to Arif Elfendi, an entrepreneur, cryptocurrency has come under scrutiny in recent years. A development that has seen bitcoin grow globally, mining was banned by the EU.
He claims, however, that cybercash has numerous positive aspects.

What's the fuss about Cryptocurrency?
Although cryptocurrency has been in existence for a while however, it is only an everyday word in the last few times.

Arif Efendi The cryptocurrency market has often been the subject of headlines and in recent times, they were the talk of the town due to the fact that Sweden wants to ban the European Union (EU) to stop mining Bitcoins.

What's all the fuss about, and what is the actual meaning of cryptocurrency?

These are questions that I have been asking myself for a number of years following my investment and research. Let's discover the world of cryptocurrency together.

What exactly is cryptocurrency?
At its simplest, cryptocurrency is digital money. It doesn't require notes or coins in order to use cryptocurrency. The only money exists in the form of data.

In addition, cryptocurrencies could be described as digital currencies specifically designed to be used on peer-to-peer networks that do not have a central authority. Bitcoin is by far the most prominent cryptocurrency.

Bitcoins and cybercash also have elements decentralization as they work without a central bank system or a single administrator.

The decentralized control is connected to another characteristic of cryptocurrency that is enhanced security and security due to its usage of cryptography.
Arif Efendi The benefits of cryptocurrency are far greater than traditional currencies. It isn't easy to counterfeit or devalued due to the protocols for cryptography that guarantee its existence.

In addition, cryptocurrency accounts do not have the ability to go "in the red" since it does not have a balance from which a deficit could occur.

Additionally, cryptocurrency permits near-instantaneous transactions between different parties from any part of the world with a reasonable degree confidence.

What is the difference between crypto and stocks?
Cryptocurrency is distinct from stock in that cryptocurrency is a form of digital currency that makes use of cryptography to secure transactions.

They can be utilized as an uncentralized currency. They are not tied to any central bank system. The cryptocurrency market is a place for trading and investing.

Arif Efendi The stock market is an exchange on which dealers and brokers exchange stocks. A stock is an ownership interest in the business. It can be traded at a profit , or traded for cash based on the business's performance.

Prices for stocks fluctuate every day due to supply/demand economic health, the perceived value of investors and the possibility of profit from growth in a company.

However, the prices of cryptocurrency seldom vary by more than 1-2% per day.

What is the reason why cryptocurrency is so popular?
Nowadays, cryptocurrency is quickly rising in importance. The people who buy cryptocurrency are doing so because of the many advantages it provides. Information on cryptocurrency has been around for many years, but more recently cryptocurrency has generated interest, leading to more purchases of cryptocurrency than ever before.

Cryptocurrency allows people to have total control over their money and not depend on banks or other financial institutions. It's also distributed, which means nobody, no group or individual is able to control it. The possibility of being in charge of your own money is what attracts many people, including me, to cryptocurrency.

Why does Sweden would like to see the EU ban Bitcoin mining?
Despite the popularity of cryptocurrency mining, EU lawmakers are currently examining new legislation to prohibit energy-intensive cryptocurrency mining in any country within the bloc.

This legislation is being made due to the fact that cryptocurrency miners were using electricity supplies to their own advantage in Sweden. This is a well-known method for cryptocurrency mining in the last few years.

Bitcoin was initially mined on normal processor units. Arif Efendi It soon became apparent that this was too slow. Most cryptocurrency today comes from large mining pools. The Swedes are concerned by the fact that these mining pools require huge amounts of electricity.

According to the authors of an open letter to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt annually. The names of the people who sent the open letter to the EU are Bjorn Riser director of Sweden's Environment Protection Agency, Erik Thedeen director of Sweden's Financial Supervisor Authority.

The amount of electricity produced is enough to power to 200 homes. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining makes use of more of Sweden's renewable energy.

"If we allow extensive mining in Sweden of crypto-assets there is an opportunity that the renewable energy available is not enough to cover the necessary climate change that we need to complete," wrote the Swedes in their letter to EU.

Erik Thedeen and Bjorn Risinger refer to Sweden's climate obligations under the 2015 Paris Agreement.

The cryptocurrency and the climate coexist
Although cryptocurrency is more popular and talked about than ever before but it's still controversial as you can tell.

Arif Efendi I have a lot of fun with cryptocurrency and all its possibilities. It's going to be a major news story in the near future I'm certain.

I'm hopeful that we can come up with an avenue to allow cryptocurrency and climate to co-exist for a while.


My Website: http://xn--b1agsejojk.xn--p1ai/user/Arif.Efendiulua491/