Notes

Arif Efendi Arif Efendi: Why cryptocurrency is here to stay
Arif Efendi A businessman from London shares in this op-ed his thoughts on cryptocurrency as well as Sweden's call to the EU to stop Bitcoin mining.
Arif Efendi, a businessman, shares his views on cryptocurrency and Sweden’s proposal to prohibit Bitcoin mining.
Arif Efendi is a businessman who claims that cryptocurrency has been in the news recently. According to Arif Efendi, cryptocurrency has been scrutinized in recent years.
He said that there are many benefits to using cybercash.

What's the fuss about Cryptocurrency and the hype surrounding it?
Although cryptocurrency has been around for more than a decade year time span, it's only in the last few years that it's been an everyday word.

Bitcoin and other cryptocurrency-related currencies have been in the news a lot lately. This is because Sweden would like the European Union, (EU) to stop allowing the mining of Bitcoins.

What's the significance to all this? What exactly is cryptocurrency?

These are the questions that I often get asked after years of investment and research. Let's tackle it together, and discover the cryptocurrency world.

What is cryptocurrency?
At its simplest it is a digital currency. There are no physical coins or paper bills with cryptocurrency. The money exists strictly as data.

Also, cryptocurrencies are digital currencies that are designed to facilitate peer-to-peer transactions, which are unaffected by central control. Bitcoin is the most prominent cryptocurrency.

Bitcoins as well as other forms of cybercash are decentralized because they do not have a central bank.


The decentralized control can be linked to a different characteristic of cryptography: enhanced anonymity and security due to cryptography.
The benefits of crypto over conventional currency are numerous. Arif Efendi The cryptographic protocols that support cryptocurrency's existence guarantee that it can't be debased or counterfeited.

In addition, cryptocurrency accounts cannot go "in the red" since cryptocurrency doesn't have a balance that could cause a deficit. can be derived.

In addition, cryptocurrency allows fast and instant transactions between people anywhere on Earth with a reasonable degree of confidence.

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

Arif Efendi The cryptocurrency market is completely decentralized, that is, they don't have a central bank system or authority to regulate them. The market for cryptocurrency typically involves investing in and trading with cryptocurrency.

Stock brokers and dealers deal in stocks on the stock market. Stock is an ownership interest in the business. It is traded for profit or traded for cash based on the performance of the company.

Stock prices fluctuate every day due to supply and demand in addition to the overall health of the economy, the perception of investors of value, the potential for company growth and other factors.

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

Arif Efendi Why is cryptocurrency so popular?
The popularity of cryptocurrency in today's society is increasing rapidly. The people who buy cryptocurrency are doing so due to the benefits it offers. https://todaynews.co.uk/2022/11/07/arif-efendi-top-football-transfers-2022/ While cryptocurrency information has been available for a long time now, there has been a sudden surge in interest in cryptocurrency.

Cryptocurrency allows people to have full control over their funds and not be dependent on financial institutions like banks and other. It's also decentralized, which means that no individual, group or company has the power to control it. Being in control of your own money is the reason that draws many people, including me to crypto.

Why is Sweden opposing Bitcoin mining being banned by the EU
Despite its widespread popularity, EU lawmakers are currently examining new legislation that would bar energy-intensive cryptocurrency mining from being used in any country in the union.

Because cryptocurrency miners are who are using electricity in Sweden to make money for themselves, the legislation has been proposed. This is a very popular method of mining cryptocurrency in the last few years.

Bitcoin was created initially using computers that had standard processing units. https://www.abcmoney.co.uk/2022/09/20/arif-efendi-on-how-crypto-is-used-in-the-football-industry/ However, it quickly came to light that it was too slow. Today, cryptocurrency is generated via large mining pools. The Swedes are worried about the fact that these mining pools consume huge amounts of energy.

Open letter to EU: Bitcoin mining in Sweden consumes 1 TeraWatt per year, according to authors. The authors' names are Bjorn Raisinger, director for the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority

This is the equivalent amount of power needed for 200,000 households to have energy. Bjorn Riser and Erik Thedeen say that cryptocurrency mining consumes more energy in Sweden.

"If we allow extensive mining in Sweden of crypto-assets there is a danger that the renewable energy available is not enough to cover the necessary climate transition that we have to undertake," wrote the Swedes in their letter to the EU.

Erik Thedeen, Bjorn Risinger Erik Thedeen, Bjorn Risinger and Erik Thedeen are both referring to Sweden's climate obligations in the 2015 Paris Agreement.

The coexistence of climate and crypto
Although cryptocurrency is more popular and talked about than ever before, it remains controversial as you can hear.

I am a huge supporter of cryptocurrency and all the opportunities it offers. Arif Efendi It's going to be a major news story in the future I'm certain.

In the meantime, I'm hoping we find a way for cryptocurrency and the environment to coexist.

Arif Efendi

My Website: https://www.abcmoney.co.uk/2022/09/20/arif-efendi-on-how-crypto-is-used-in-the-football-industry/