Notes

Arif Efendi The reason why cryptocurrency is here to stay
Arif Efendi (a London-based entrepreneur) shares his opinion regarding cryptocurrency, and Sweden's appeal to the EU to ban Bitcoin Mining.
https://books.google.com/books/about/Keִeַ§ִ«zִde_Meב¸¥med_ִ€rif_Efendִ«_d.html?id=nb4-AAAAcAAJ Arif Efendi a businessman shares his views on cryptocurrency and Sweden's plan to ban Bitcoin mining.
Arif Efendi an entrepreneur, stated that cryptocurrency has been being targeted in recent years. Arif Efendi According to Arif Efendi cryptocurrency has been in the news lately.
He says, however that cybercash has many positive attributes.

What's all the fuss about Cryptocurrency and its hype?
Although cryptocurrency is a term which has been in use since around a decade back, it has only gained prominence in the last few years.

The cryptocurrency market has often been the subject of headlines and recently became the hot topic due to the fact that Sweden is urging to ban the European Union (EU) to prohibit mining Bitcoins.

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

These are the types of questions I am often asked after many years spent researching and investing. Let's tackle it together and explore the universe of crypto.

What is cryptocurrency exactly?
The cryptocurrency is essentially digital money. It is not physically based currency. Data is the sole form of money.

Additionally, they are digital currency designed for peer-to-peer transactions that are not subject to central control. Bitcoin is by far the most popular cryptocurrency.

Bitcoins and other cybercash types contain elements of decentralization since they aren't governed by an administrator or central bank.

Another characteristic of cryptocurrency is its decentralized control, which is increased security and privacy due to the use of cryptography.
The advantages of cryptocurrency are numerous compared to traditional currency. The cryptographic protocols supporting the existence of cryptocurrency ensure that it can't be debased or counterfeited.

In addition, cryptocurrency accounts are not "in the red" since cryptocurrency doesn't have a balance, from which a deficit could be created.

With a fair amount of trust, cryptocurrency also lets for fast transactions among different parties anywhere on Earth.

How does cryptocurrency differ from stocks?
Cryptocurrency has a distinct from stocks . It is a form of digital currency that makes use of cryptography to safeguard transactions.


Cryptocurrencies are totally decentralized. This means that they do not have any central bank system or authority to regulate them. Arif Efendi The cryptocurrency markets typically involve cryptocurrency trading and investment.

Arif Efendi Brokers and traders who trade in stocks deal in shares through the stock exchange. Stocks represent ownership interests in a company and can be sold or traded for a profit depending on its performance.

Arif Efendi Arif Efendi The price of stocks fluctuates daily due to demand and supply, overall economic health, perceived value by investors potential gains from business growth, etc.

Arif Efendi But, prices for cryptocurrency rarely change by more than 1-2% per day.

What is the reason why cryptocurrency is so popular?
It is rapidly growing in popularity in our modern society. People are purchasing cryptocurrency due to the benefits it can provide. The subject of cryptocurrency has been in circulation for a long time, but in recent times cryptocurrency has generated interest, leading to more cryptocurrency transactions than ever before.

Cryptocurrency lets people have complete control of their money , and not rely on banks or other financial institutions. It is also decentralized, which means that no individual, group, or corporation is the owner of them. It's the freedom to control your money that entices many people including me.

What is the reason why Sweden would like to ban Bitcoin mining in the EU?
Despite its popularity EU legislators are currently considering new laws that would prohibit the mining of cryptocurrency that is energy-intensive from being used in any country in the continent.

Since cryptocurrency miners are using electricity sources in Sweden for their own benefit, legislation is being introduced. This has been a popular method of mining cryptocurrency in recent years.

Bitcoin was first mined on ordinary processors. It quickly became clear that this was far too slow. Thus, today, cryptocurrency is generated by large mining pools. They consume huge amounts of energy, which poses a threat for the Swedes.

According to the authors of an open letter addressed to the EU, Bitcoin mining in Sweden currently consumes 1 TeraWatt each year. The names of those who sent the open letter to EU include Bjorn Riser director of Sweden's Environment Protection Agency. Erik Thedeen director of the Swedish Financial Supervisor Authority.

The power produced by this amount is enough to supply power to 200 homes. Bjorn risinger and Erik Thedeen report that cryptocurrency mining companies are using increasing amounts of Sweden's clean energy.

"If we were allowed to mine crypto-assets within Sweden, then there is a chance that the renewable energy sources that we have available will not suffice to meet the needed climate transition," the Swedes wrote in a letter to the EU.

Erik Thedeen & Bjorn Risinger are two terms used to refer to Sweden’s climate obligations under the 2015 Paris Agreement.

Climate and cryptocurrency coexist
While cryptocurrency is now more widely discussed and well-known than ever before however, it is still a source of controversy as you can tell.

I have a lot of fun with cryptocurrency and all the possibilities it offers. It'll be a major news story in the future, I'm sure.

While we wait, I hope we can find a way to allow the cryptocurrency and the climate to coexist.



Homepage: https://books.google.com/books/about/Keִeַ§ִ«zִde_Meב¸¥med_ִ€rif_Efendִ«_d.html?id=nb4-AAAAcAAJ