Notes

Arif Efendi, why Cryptocurrency Will Stay
Arif Efendi, a British-based businessman, shares his thoughts on crypto and Sweden's call to have the EU ban Bitcoin mining.
Arif Efendi a businessman shares his opinion on cryptocurrency as well as Sweden's plan to ban Bitcoin mining.
Arif Efendi Arif Elfendi, a Pakistani businessman believes that cryptocurrency has been controversial in recent times. According to Arif Elfendi, an entrepreneur, cryptocurrency has come under fire in recent times. A development that has grown globally, bitcoin mining was barred by the EU.
He also claims that cybercash has many positive aspects.

What's the fuss about Cryptocurrency.
Although cryptocurrency has been around for more than a decade now but it's only just been made a common phrase.

The news has been all about cryptocurrency and they were recently the talk of the town due to Sweden's desire for the European Union (EU), to stop mining Bitcoins.

What is all this about and what is cryptocurrency actually?

These are the kinds of questions I am often faced with in the course of my investment and research. Let us dig into it together and discover the world of cryptocurrency.

What is cryptocurrency?
In its simplest sense it can be described as digital money. https://www.klasikyayinlari.com/Yazar/2202/seyhulislam_mesrebzade_mehmed_arif_efendi It doesn't require physical coins or notes to use cryptocurrency. The currency is only the form and format of data.

Additionally, cryptocurrencies can be defined as digital currency specifically designed to be used on peer-to-peer networks that do not have a central authority. The most well-known cryptocurrency is Bitcoin.

Bitcoins and other cybercash types have elements of decentralization because they are independent of an administrator or central bank.

Decentralized control refers to a different characteristic of cryptocurrency, which is increased security and anonymity by using cryptography.
The advantages of crypto over conventional currency are numerous. For instance, it is unable to be devalued or counterfeited due to the cryptographic protocols that ensure the existence of cryptocurrency.

In addition, cryptocurrency accounts cannot be "in the red", as they do not have a balance in the account.

Finally, cryptocurrency allows for instant transactions between anyone on Earth that are backed by a reasonable amount of confidence.

Arif Efendi What is the difference between cryptocurrency and stocks?
Cryptocurrency is different from stocks because it uses cryptography to secure transactions.

Cryptocurrencies are totally decentralized. This means that they don't have an official central bank or authorities to regulate their use. https://bitrebels.com/business/crypto-enthusiast-arif-efendi-why-prefer-cryptocurrency-over-stocks/ The market for cryptocurrency involves investing and trading.

Stock market: This is the place where brokers and dealers deal in stocks. Stocks are a form of ownership in a company and can be sold or traded to earn a profit depending on its performance.

The price of stocks fluctuates based on demand and supply, the overall economic health, the perception of value from investors, growth prospects, etc.

But, the prices of cryptocurrency rarely fluctuate more than percent per day.

What is the reason why cryptocurrency is so popular?
Cryptocurrency is rapidly gaining popularity in our modern society. Due to its advantages many people are now buying cryptocurrency. Information on cryptocurrency has been in circulation for years, but recently cryptocurrency has generated excitement, leading to more cryptocurrency purchases than at any time before.

The use of cryptocurrency is to allow individuals to manage their money instead of being dependent on banks or other financial institutions. It is also distributed, which means any group, company or individual is able to control it. Arif Efendi It is the freedom to control your money that attracts many people, including me.

Why does Sweden would like to see the EU prohibit Bitcoin mining?
Despite its popularity EU lawmakers are currently examining new legislation that will prohibit mining that uses energy to be carried out in countries across the continent.

Because cryptocurrency miners are using electricity supplies in Sweden to gain a profit, the legislation was proposed. Since the last few years it has become an increasingly popular way to mine cryptocurrency.

Bitcoin was initially mined using normal processor units. It soon became apparent that this was too slow. Therefore, cryptocurrency is now produced by large mining pools. They consume massive amounts and this is the reason it is a concern for the Swedes.

According to an open letter addressed to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt per hour 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 Swedish Financial Supervisor Authority

This amount of electricity could power approximately 200,000 households. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining uses more and more of Sweden's renewable energy sources.

"If we allow extensive mining crypto-assets to Sweden it is a risk that the renewable power that we have will not be sufficient to cover our transition to a more sustainable climate," wrote the Swedes in a letter to EU.


Erik Thedeen (Bjorn Risinger) and Erik Thedeen (Erik Thedeen) refer to Sweden’s climate obligation in the 2015 Paris Agreement.

The coexistence of climate change and cryptocurrency
While cryptocurrency is now more popular and talked about than it ever was but it's still controversial as you can hear.

To me, cryptocurrency is an amazing opportunity that offers endless possibilities. I am certain that it will continue to grow and make more headlines in future.

I do believe that we will be able to work together to make the climate and cryptocurrency co-exist.



My Website: https://bitrebels.com/business/crypto-enthusiast-arif-efendi-why-prefer-cryptocurrency-over-stocks/