Notes

Arif Elfendi Why Cryptocurrency is Here to Be Around to
Arif Efendi is a businessman from London who is a vocal advocate for cryptocurrency as well as Sweden's demand for the EU's ban on Bitcoin mining.
Arif Efendi, a businessman is a businessman who shares his thoughts on cryptocurrency and Sweden’s proposal to ban Bitcoin mining.
According to businessman Arif Efendi cryptocurrency has been under scrutiny over the past few years. According to Arif Elfendi, cryptocurrency has been in the news recently.
Arif Efendi He says, however that cybercash is a positive option because of its many benefits.

What's the latest buzzwords about Cryptocurrency.
Although cryptocurrency has been around for a while but the term has only been a household word in the past few times.

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

https://www.youtube.com/@arifefendi8476/playlists What is cryptocurrency ? And what does it all mean?

After many years of research and investments, these are questions I often meet. Let's tackle it together, and discover the cryptocurrency world.

What is cryptocurrency exactly?
In its simplest form, cryptocurrency is digital money. There are no notes or coins in order to use cryptocurrency. Arif Efendi Data is the only type of currency.

Arif Efendi A cryptocurrency is a kind of digital currency that is specifically designed to be used in peer-to-peer networks, without any central authority. Bitcoin is the most popular cryptocurrency.

Bitcoins, and other types cybercash, contain elements that allow decentralization. They function without the interference of a central administrator or bank.

The decentralized control is connected to a different characteristic of cryptocurrency that is enhanced security and privacy through the usage of cryptography.
The benefits of cryptocurrency are much higher than traditional currencies. Due to the cryptographic protocols used to guarantee the currency's existence the currency is not susceptible to counterfeiting or devalued.

Furthermore, cryptocurrency accounts cannot be "in the red", as they do not have an account balance.

Finally, cryptocurrency allows for near-instantaneous transactions between different parties anywhere on Earth with a certain amount of trust.

What is the difference between cryptocurrency and stocks and how can it be utilized to boost their value?
The cryptocurrency differs from stocks in the fact that it's a digital currency that utilizes encryption to safeguard transactions.

Cryptocurrencies do not have any central banking system. The market for cryptocurrency usually includes investing and trading in cryptocurrency.

Stock market: This is where brokers and dealers deal in stocks. Stock represents ownership in a company, and it can either be bought or traded for profit based on its performance.

Stock prices fluctuate every day because of demand and supply in addition to the overall health of the economy, investors' perceptions of value, the possibility of growth of a company, and many other factors.

However, the prices of cryptocurrency seldom vary by more than 1-2% per day.

What is the reason why cryptocurrency is so hot?
Today, cryptocurrency is rapidly increasing in its popularity. Because of its benefits many people are now buying cryptocurrency. Information about cryptocurrency has been around for a long time, but in recent times cryptocurrency has been arousing excitement, leading to more cryptocurrency transactions than at any time before.

Cryptocurrency allows users to take total control over their money and not depend on banks or other financial institutions. As mentioned earlier, it is also decentralized, which means that no individual, group, or company has ownership of it. It's the ability to manage your money that draws many people including me.

What is the reason why Sweden want to ban Bitcoin mining in the EU to prohibit Bitcoin mining?
Despite its widespread popularity, cryptocurrency is not currently being thought of as a viable option by EU lawmakers. They are currently considering new laws that could hinder energy-intensive cryptocurrency miners being carried out across the EU.

The legislation was drafted because cryptocurrency miners are using the power supply in Sweden to benefit. It has been popularized in cryptocurrency mining over the past years.

Bitcoin was initially mined using normal processing units. However this process proved to be too slow when it first came out. Nowadays, cryptocurrency is created by large mining pools. These pools consume huge amounts and that's why it 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 names include Bjorn Risinger, Director at the Swedish Environmental Protection Agency and Erik Thedeen from the Swedish Financial Supervisor Authority.

This amount of electricity can power up to 200 homes. Bjorn Riser and Erik Thedeen say that cryptocurrency mining consumes more of Sweden's energy.

"If we were permitted to mine cryptoassets in Sweden There is an possibility that the renewable energy available to us won't suffice to meet the necessary climate change," the Swedes wrote in a letter to the EU.

Erik Thedeen (Bjorn Risinger) and Erik Thedeen (Erik Thedeen) refer to Sweden's climate commitment under the 2015 Paris Agreement.


Climate and cryptocurrency coexist
Although cryptocurrency is more popular and talked about than it ever was, it remains controversial as you'll hear.

Arif Efendi I believe that cryptocurrency is a fantastic opportunity with unlimited possibilities. Arif Efendi I'm sure that it will continue to grow and be a major topic in the future.

While we wait, I hope we find a way for cryptocurrency and the environment to coexist.



Homepage: https://www.youtube.com/@arifefendi8476/playlists