Notes

Arif Efendi The Reasons Cryptocurrency is Here to Stay
Arif Emendi, a London-based businessman, contributes to this piece of opinion on cryptocurrency.
Arif Efendi, a Swedish businessman, shares his views on cryptocurrency.
According to businessman Arif Efendi, cryptocurrency has come under fire in recent years. According to Arif Emendi cryptocurrency has come under scrutiny in recent times.
But, he says that cybercash is still full of positive qualities to offer.

What's the fuss about Cryptocurrency.
Although cryptocurrency has been around for since the beginning of time however, it's only recently been made a common term.

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

What's the matter with cryptocurrency?

These are the questions I've been asking myself for several years after investing and researching. Let's explore the world cryptocurrency together.

What is cryptocurrency exactly?
The simplest definition of cryptocurrency is digital currency. There are no physical coins or paper bills that are backed by cryptocurrency. Data is the sole form of currency.

The cryptocurrency is a digital currency which can be utilized in peer-to-peer network without central authority. Arif Efendi Bitcoin is the most well-known cryptocurrency.

https://www.imdb.com/title/tt0254001/characters/nm0022342 Arif Efendi Bitcoins and cybercash also have elements decentralization as they work without a central bank system or an administrator.

The decentralized control also linked to an additional cryptocurrency feature, which is the greater security of anonymity and security through the use of cryptography.
The benefits of cryptocurrency over traditional currency are numerous. It isn't easy to counterfeit or debased because of the cryptographic protocols that guarantee its existence.

Additionally, cryptocurrency accounts can't be "in the red" since they do not have an account balance.

Finally, cryptocurrency allows for near-instantaneous transactions between different parties from all over Earth with a certain amount of confidence.

What's the difference between stocks and cryptocurrency?
Cryptocurrency is different from stock in that it is a kind of digital currency that makes use of encryption to secure transactions.

Cryptocurrencies have no central banking system and are decentralized. The market for cryptocurrency is mostly about cryptocurrency trading and investing.

https://find-and-update.company-information.service.gov.uk/officers/Ey_lyqyWi7zYIDz6gqhtbb_89cc/appointments Stock traders and brokers trade stocks through the stock exchange. Stocks represent ownership interests in a company and can be traded or sold for profits based on its performance.

Prices for stocks fluctuate based on supply and need, overall economic health, the perception of value by investors, company growth potential, etc.

However, cryptocurrency prices are rarely more than 1-2% per day.

Arif Efendi What is the reason why cryptocurrency is so popular?
Cryptocurrency is rapidly gaining popularity in our modern society. People are purchasing cryptocurrency due to the benefits it can provide. Information on cryptocurrency has been around for a long time, but in recent times cryptocurrency has sparked curiosity, which has led to more purchases of cryptocurrency than ever before.

The cryptocurrency gives users complete control over their money instead of having to rely on banks or other financial institutions. Like I said earlier, it is also decentralized, meaning that no individual, group, or company is the owner of them. It is the freedom to manage your money that entices many people, including me.


What's the reason Sweden opposing Bitcoin mining being prohibited by the EU
Despite its huge popularity, it is not currently being taken into consideration as a viable option by EU legislators. They are currently considering new legislation, which would hinder energy-intensive cryptocurrency miners being carried out throughout the EU.

The legislation is being proposed due to cryptocurrency miners draining electricity supplies in Sweden for their own gain. It has become a common method for mining cryptocurrency in the past few years.

When Bitcoin was introduced the first time, it was mined using machines that had normal processing units however, it soon became apparent that the method was too slow. Most cryptocurrency today comes from large mining pools. The Swedes are concerned by the fact that these mining pools consume huge amounts of energy.

According to the writers of an open letter addressed to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt annually. https://www.facebook.com/public/Arif-Efendi The names of the authors include Bjorn Raisinger, director for the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority.

It's the same amount of electricity needed to supply 200,000 homes with energy. Arif Efendi Bjorn Risinger & Erik Thedeen claim that cryptocurrency miners are using more and more of Sweden’s renewable energy.

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

Erik Thedeen & Bjorn Risinger are two terms that are used to refer to Sweden's climate commitments as per the 2015 Paris Agreement.

The cryptocurrency and the climate can coexist
While cryptocurrency is more prominent and discussed than ever before in the mainstream media however, it's still a subject of controversy.

I am a big fan of cryptocurrency and the numerous opportunities it provides. It's going to be around for a while, and it's going to remain in the news for a long time.

I'm hoping that we will find ways to allow cryptocurrency and the climate to coexist in the interim.



Here's my website: https://www.newsanyway.com/2021/10/18/arif-efendi-donates-200000-to-norwich-university-as-a-testament-to-its-impact-on-his-life/