Notes

Arif Efendi, Why Cryptocurrency Will Rather Stay
Arif Efendi (a London-based businessman from London) gives his thoughts regarding cryptocurrency, and Sweden's appeal for the EU to prohibit Bitcoin Mining.
Arif Efendi, a Swedish businessman, shares his views on cryptocurrency.
Arif Efendi is a businessman who claims that cryptocurrency has been featured in the news recently. According to Arif Elfendi, a businessman, cryptocurrency has come under scrutiny in recent times. A development that has seen Bitcoin grow in popularity across the world, mining was barred by the EU.
He says, however that cybercash has numerous positive aspects.

What's the fuss concerning Cryptocurrency?
While cryptocurrency has been around for more than a ten year, it's only been within the last few years that it has become a common term.

Arif Efendi Recent headlines have focused on cryptocurrencies. Arif Efendi In recent times, they were the focus of discussion due to Sweden is requesting for the European Union to ban Bitcoin mining.

What is cryptocurrency ? And what does it all mean?

These are questions that I've been asking myself for a number of years following my investment and research. Let's get together to investigate cryptocurrency.

What exactly is cryptocurrency?
Digital money is cryptocurrency in its most basic form. There aren't any physical coins or paper bills that are backed by cryptocurrency. Arif Efendi The only way to make money is to use data.

A cryptocurrency is a form of digital currency specifically designed to be used in peer-to-peer networks, and without any central authority. Bitcoin is by far the most popular cryptocurrency.

Bitcoins and other types of cybercash have elements of decentralization, as they are not controlled by the central bank, or a single administrator.

The decentralized control also linked to an additional cryptocurrency attribute, which is the enhanced privacy and security through the use of cryptography.
There are many advantages to cryptocurrency over traditional currencies. Because of cryptographic protocols, cryptocurrency can't be counterfeited and isn't devalued.

A cryptocurrency account is not able to be "into red" because it does not have a balance on the account that could cause a deficit. might occur.

In addition, cryptocurrency allows instant transactions between anyone on Earth with a fair level of trust.

Arif Efendi What makes cryptocurrency different from stocks? How can it be used to boost their value?
Cryptocurrency is more than stocks since it is a digital currency which utilizes cryptography to make transactions.

The cryptocurrency market can be used as a decentralized currency. They are not dependent on any central banking system. The cryptocurrency market involves investing and trading.

Dealers and stock brokers deal in stocks on the stock market. Stock represents ownership in an organization, and it can either be traded or purchased for profit based on its performance.

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

But, prices for cryptocurrency are rarely more than 1-2% per hour.

Why is cryptocurrency so popular
The cryptocurrency market is currently rising in importance. The people who buy cryptocurrency are doing so due to the numerous advantages it provides. While information about cryptocurrency has been available for a long time in the past, there's been a sudden surge in interest in cryptocurrency.

The cryptocurrency gives users total control over their money. Arif Efendi It's not tied to banks or financial institutions. As mentioned earlier, it is also decentralized, meaning that no individual, group, or business owns them. This is the reason why many people to cryptocurrency, like me.

What is it that makes Sweden so determined to see Bitcoin mining banned by the EU?
Despite its popularity the EU legislative body is currently examining new legislation which would ban energy-intensive crypto mining from being conducted in countries within the Union.

The legislation is being proposed due to cryptocurrency miners draining energy sources in Sweden to benefit themselves. This is a very popular way to mine cryptocurrency in the last few years.

When Bitcoin was first introduced, it was mined on computer systems that were able to process normal data however, it soon turned out that the method was too slow. The majority of cryptocurrency now is generated by large mining pools. These mining pools consume massive amounts of electricity which is a concern for the Swedes.


According to the writers of an open letter addressed to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt per year. The authors' names are Bjorn Raisinger, Director of the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority

It is enough power for 200 households. Bjorn Riser and Erik Thedeen say that cryptocurrency mining uses more of Sweden's energy.

"If we allow extensive mining crypto-assets into Sweden and the EU, we run the chance that the renewable power available to us won't be enough to support our transition to a more sustainable climate," wrote the Swedes in a letter addressed to the EU.

https://stai-br.ac.id/dosen/muhammad-arif-efendi-hasibuan/ Erik Thedeen (Bjorn Risinger) and Erik Thedeen (Erik Thedeen) refer to Sweden's climate obligation in the 2015 Paris Agreement.

Coexistence of the climate with crypto
While cryptocurrency is more popular and talked about than any time in the past in the media but it's still in the middle of controversy.

It's a pleasure for me, too, to see the endless possibilities of cryptocurrency. Arif Efendi It's here to stay and I believe it will be the subject of a lot of news within the next few years.

Arif Efendi I do hope that in the meantime we can work together to ensure that the cryptocurrency and climate coexist.



Read More: http://Businessman Arif Efendi Shares Insights on Crypto Investment – Reporter Byte