Notes

Arif Elfendi: Why Cryptocurrency will Stay
Arif Efendi, a London-based businessman is quoted in an op-ed about his view on cryptocurrency and Sweden's demand to the EU to ban Bitcoin mining.
https://cotkan.ru/user/Arif.Efendijeww529/ Arif Efendi, a Swedish businessman, shares his views about cryptocurrency.
Arif Efendi an entrepreneur, stated that bitcoin mining has come under attack in recent years. Arif Efendi According to Arif Efendi a Swedish businessman, cryptocurrency has come under attack in recent years. This is a development which has increased globally.
Arif Efendi However, he claims that cybercash still has lots of positive qualities to offer.

What's the latest buzzwords about Cryptocurrency.
http://cvpvm09.ru/user/Arif.Efendipnby247/ Arif Efendi Even though cryptocurrency has existed for more than a decade, it is only in the last few years that it has been made a household word.

Bitcoins have been featured in numerous news reports and in recent times, they were the topic of conversation because Sweden is urging the European Union (EU) to ban the mining of Bitcoins.

What's the issue with cryptocurrency?

These are the types of questions I often get after many years spent researching and investing. Let's explore the world cryptocurrency together.

What exactly is cryptocurrency?
In its most basic sense it is a digital currency. There are no paper bills or physical coins with cryptocurrency. The only way to make money is to use data.

The cryptocurrency is a digital currency that can be used in peer-to-peer network without the need for central authority. Bitcoin is by far the most prominent cryptocurrency.

Bitcoins as well as other forms of cybercash have elements of decentralization because they are independent of a central bank or administrator.

Arif Efendi Decentralized control refers to another characteristic of cryptocurrency, which is the increased security and anonymity by using cryptography.
The advantages of cryptocurrency are numerous in comparison to conventional currency. Because of cryptographic protocols that guarantee the currency's existence the currency is not susceptible to counterfeiting or devalued.

Furthermore, cryptocurrency accounts are not allowed to be "in red" because there is no balance on the account where a deficit could happen.

Finally, cryptocurrency allows near-instantaneous transactions with various people from around the world with an acceptable level of trust.

How is cryptocurrency different to stocks?
Cryptocurrency is more than stocks , because cryptocurrency is a digital currency which utilizes cryptography to make transactions.

There is no central bank system. The cryptocurrency market involves trading and investing.

Brokers and stock traders trade stocks through the stock exchange. Stocks are a form of ownership of a company. They can be sold or traded to earn profits based on its performance.

Prices for stocks fluctuate daily because of supply and demand and economic health overall, perception value by investors and potential profits from company expansion, etc.

But, prices for cryptocurrency rarely fluctuate by more than 1 percent each day.

What is the reason why cryptocurrency is so well-liked?
Today's society is quickly embracing cryptocurrency. The people who buy cryptocurrency are doing so due to the numerous advantages it provides. While cryptocurrency information has been in circulation for some time in the past, there's been a sudden surge in the interest in cryptocurrency.

The cryptocurrency system allows users to take complete control over their money , instead of relying on banks and financial institutions. It is also decentralized, which means that no individual, group, or business is the owner of them. A lot of people like me are drawn to cryptocurrency due to the ability to manage their own finances.

Why does Sweden want to see the EU prohibit Bitcoin mining?
Despite its widespread popularity, EU legislators are currently considering new legislation that will prohibit energy-intensive cryptocurrency mining from being carried out in countries across the continent.

Since cryptocurrency miners are using electricity supplies in Sweden for their own benefit and benefit, legislation is now being introduced. In recent times it has become a popular method to mine cryptocurrency.

Bitcoin was first created using computers with conventional processing units. But, it soon became evident that it was too slow. Consequently, cryptocurrency is now produced by huge mining pools. They consume massive amounts of energy, and this is something that concerns the Swedes.

Open letter to EU authors declares that Bitcoin mining in Sweden currently consumes 1 TeraWatt of energy per hour. The names of the people who sent the open letter to EU are Bjorn Riser director of Sweden's Environment Protection Agency. Erik Thedeen director of the Swedish Financial Supervisor Authority.

This is enough electricity for 200 households. Bjorn Risinger and Erik Thedeen report that cryptocurrency miners are using more of Sweden's clean energy.

"If we allow extensive mining in Sweden of crypto-assets, there's the possibility that the amount of renewable energy available will not be sufficient to meet the demands of the climate change transition we have to make," wrote the Swedes in their letter to the EU.

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

Climate and cryptocurrency coexist
While cryptocurrency is now more discussed and talked about than ever before, it's still controversial.

It is a joy to myself, too, to see the endless possibilities of cryptocurrency. I am sure it is in the future and it will make more headlines in the future.

I do hope that in the meantime we will be able to work together to ensure that the climate and cryptocurrency co-exist.


My Website: https://godotengine.org/qa/user/arif-efendicabs396