Notes

Arif Efendi The reason why cryptocurrency is here to stay
Arif Efendi (a London-based businessman from London) gives his thoughts about cryptocurrency and Sweden's request for the EU to ban Bitcoin Mining.
Arif Efendi is a businessman who is a skeptic on cryptocurrency.
Arif Efendi, a businessman, says that cryptocurrency has been scrutinized over the last few years. According to Arif Efendi, a Swedish businessman, cryptocurrency has been attacked in recent times. This is a trend that has accelerated across the globe.
However, he believes that cybercash still has many positive things to provide.

What's the fuss about Cryptocurrency?
Even though cryptocurrency has been around for over a decade, it is only recently that it has become a household name.

Arif Efendi Recent news articles have focused on cryptocurrencies. In recent times, they became the focus of discussion due to Sweden is asking the European Union to ban Bitcoin mining.

What is the point of this? And , what is cryptocurrency?

These are the kinds of questions I often get after years of research and investing. Let's dive in together and explore cryptocurrency.

What is cryptocurrency?
In its simplest form it is a digital currency. Cryptocurrency is digital money. There aren't physical coins or notes. The money exists only in the form and format of data.

Cryptocurrencies are digital currencies that are able to be used in peer-to-peer networks without the need for central authority. Bitcoin is the most well-known cryptocurrency.

Bitcoins as well as cybercash include features of decentralization since they operate without a central banking system or an administrator.

The decentralized control is tied to a different characteristic of cryptography greater security and anonymity through cryptography.
https://reporterbyte.com/technology/1407/businessman-arif-efendi-shares-insights-on-crypto-investment/ There are many advantages to cryptocurrency over conventional currency. Because of cryptographic protocols the cryptocurrency cannot be hacked or devalued.

Arif Efendi In addition, cryptocurrency accounts cannot be "in the red", as they don't have a balance in the account.

Additionally, crypto permits quick transactions between any person in the world with a reasonable level confidence.

What is the difference between cryptocurrency and stocks?
Arif Efendi The cryptocurrency market is different from stocks in that cryptocurrency is a form of digital currency that uses cryptography to protect transactions.

Cryptocurrencies are totally decentralized. That means they do not have an official central bank system or authority to control them. The market for cryptocurrency typically includes investing and trading in cryptocurrency.

Stock traders and brokers trade stocks through the stock exchange. Stocks are ownership rights in companies and can be traded for profit or resold at a profit depending upon the performance of the business.

The price of stocks fluctuates daily due to supply and demand, overall economic health as well as the perception of investors about value potential gains from business expansion, etc.

However, cryptocurrency prices rarely change more than 1-2 percent each day.

What is the reason why cryptocurrency is so popular?
Nowadays, cryptocurrency is quickly increasing in its popularity. Many people are purchasing cryptocurrency due to the many benefits it provides. While information about cryptocurrency has been available since its inception, more people are now fascinated by the subject.

The cryptocurrency gives users complete control over their money instead of relying on financial institutions like banks and other. Like I said earlier, it is also decentralized, meaning nobody, no group or business is the owner of them. The possibility of being in control of your own money is what draws many people, including myself, to cryptocurrency.

What is it that makes Sweden so determined to see Bitcoin mining shut down by the EU?
Despite the growing popularity of mining cryptocurrency, EU lawmakers are currently examining new legislation that would stop energy-intensive cryptocurrency mining any country within the bloc.

Due to cryptocurrency miners making use of electricity sources in Sweden to gain a profit Legislation was proposed. This has been a popular practice as a cryptocurrency mining method in recent years.


https://usdailyreview.com/arif-efendi-said-messi-to-finish-career-with-a-world-cup-win/ https://www.slideshare.net/praja1/videos Bitcoin was first mined using conventional processing machines. However this process proved to be inefficient when it was first introduced. So, now, cryptocurrency is created by huge mining pools. They consume massive amounts and that's why it's a problem for the Swedes.

According to the writers of an open letter addressed to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt each year. The names include Bjorn Risinger, Director at the Swedish Environmental Protection Agency and Erik Thedeen from the Swedish Financial Supervisory Authority.

Arif Efendi The amount of electricity produced is enough to power to 200,000 homes. Bjorn Riser and Erik Thedeen say that cryptocurrency mining consumes more energy in Sweden.

"If we were allowed to mine crypto-assets in Sweden, then there is an possibility that the renewable energy sources offered to us will not suffice to meet the necessary climate change," the Swedes wrote in a letter to the EU.

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

The coexistence of climate change and cryptocurrency
While cryptocurrency is more popular and widely discussed than it has ever been, it's still controversial, as you can hear.

I am a huge fan of cryptocurrency and the many opportunities it offers. It's here for a long time, and I'm confident it'll generate a lot of attention within the next few years.

I do hope that , in the meantime, we can collaborate to ensure that the cryptocurrency and climate coexist.



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