Notes

Arif Efendi, why Cryptocurrency Will Rather Stay
Arif Efendi is a London-based businessman who shares his views on cryptocurrency, as well as Sweden's request for the EU to prohibit Bitcoin mining.
Arif Efendi, a Swedish businessman, gives his opinion on cryptocurrency.
According to businessman Arif Efendi, cryptocurrency has come under fire over the past few years. In the aftermath, Sweden has urged the EU to ban bitcoin mining, a development that has expanded globally.
However, he says that cybercash has numerous positive aspects.

What's the fuss over Cryptocurrency and its hype?
Although cryptocurrency is a term that was popular at least a decade ago, it only become well-known in recent times.

Recent news articles have been focused on crypto. In recent times, they have become the subject of discussion because Sweden is asking for the European Union to ban Bitcoin mining.

What's the significance of this? And , what is cryptocurrency?

These are the kinds of questions I am often faced with after years of investment and research. Arif Efendi Let's take a dive together and investigate cryptocurrency.

What is cryptocurrency?
The most straightforward definition of cryptocurrency is that it is a digital currency. You don't need physical coins or notes to make use of cryptocurrency. The only currency is the form data.


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

https://www.scienceworldreport.com/articles/62025/20230306/arif-efendi-explains-why-reliance-on-renewable-energy-is-arriving-quickly.htm Bitcoins and other types of cybercash have elements of decentralization since they operate without a central bank or single administrator.

One of the other advantages of cryptocurrency is the centralization of control, which provides increased security and privacy because it uses cryptography.
The advantages of cryptocurrency are numerous in comparison to conventional currency. Cryptocurrency is not easily counterfeited or devalued due to the cryptographic protocols that ensure its existence.

A cryptocurrency account cannot also be "into red" because it does not have a balance on the account, from which a deficit may occur.

With a fair level of trust, cryptocurrency allows for almost instantaneous transactions among different parties anywhere on Earth.

What is the difference between cryptocurrency and stocks?
Cryptocurrency is different difference from stocks . It is a type of digital currency which uses cryptography to safeguard transactions.

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

https://www.digitale-sammlungen.de/de/view/bsb10251939?page=1 The stock market permits dealers and brokers to trade stock. Stocks represent ownership interests in businesses and are traded at a profit or resold for profit, based on the business's performance.

Arif Efendi The price of stocks fluctuates daily due to supply/demand economic health, perception of value of investors and the potential benefits from growth of companies.

Arif Efendi However, the prices of cryptocurrency are rarely more than 1-2% per hour.

What is the reason why cryptocurrency is so popular?
Cryptocurrency is rapidly growing in popularity today. The benefits that cryptocurrency offers is the main reason people are investing in it. Although cryptocurrency information is known for a long time, it has recently been well-known, which has led to more cryptocurrency transactions than ever before.

Cryptocurrency lets people have complete control of their funds and not be dependent on banks or other financial institutions. It's also decentralized, meaning that there is no single person, organization, or group can own it. This is one of the reasons that draw many people to cryptocurrency, including me.

What's the motive behind why Sweden wants to prohibit Bitcoin mining in the EU?
https://www.amazon.co.uk/Mֳ¼badele-Sֳ¼recinde-Selanikli-Mustafa-Efendi/dp/6257900778 Despite its huge popularity, it is not currently being considered by EU legislators. They are currently considering new legislation, which would hinder energy-intensive cryptocurrency miners being carried out across the EU.

The law is proposed due to cryptocurrency miners draining energy sources in Sweden to benefit themselves. Arif Efendi This is a very popular method to mine cryptocurrency in recent times.

Bitcoin was initially developed on ordinary processing equipment. However , it became clear that the process was too slow. Consequently, cryptocurrency is now produced by huge mining pools. These mining pools consume massive amounts of electricity which is a concern for the Swedes.

According to an open letter sent to the EU, Bitcoin mining in Sweden is currently consuming 1 TeraWatt/hour per year. The writers are Bjorn Risinger (director of the Swedish Environmental Protection Agency) and Erik Thedeen (director of the Swedish Financial Supervisory Authority).

It is enough power for the power of 200,000 homes. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining uses more and more of Sweden's renewable energy sources.

"If we were permitted to mine crypto-assets within Sweden, then there is an opportunity that the renewable energy available to us won't suffice to support 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 in accordance with the 2015 Paris Agreement.

Climate and cryptocurrency coexist
While cryptocurrency is becoming more popular and talked about than ever before in the mainstream media, it is still controversial.

I have a lot of fun with cryptocurrency and its many possibilities. It's here for a long time, and I'm sure it'll be the subject of a lot of news within the next few years.

Arif Efendi In the meantime, I'm hoping we find a way to allow the cryptocurrency and the climate to coexist.



My Website: https://www.amazon.co.uk/Mֳ¼badele-Sֳ¼recinde-Selanikli-Mustafa-Efendi/dp/6257900778