Notes

Arif Efendi Arif Efendi: Why cryptocurrency will not go away
Arif Efendi (a London-based businessman from London) offers his views on cryptocurrency and Sweden's call for the EU to ban Bitcoin Mining.
Arif Efendi, a Swedish businessman, shares his views on cryptocurrency.
Arif Efendi an entrepreneur, stated that bitcoin mining has come being targeted in recent years. According to Arif Emendi, cryptocurrency has been scrutinized in recent years.
However, he says that cybercash is a positive option because of its many benefits.

What is the hype about Cryptocurrency?
Although the term "cryptocurrency" which has been in use since at least a decade ago, it has only gained prominence in the last few years.

Bitcoins have been featured in numerous news reports and recently became the topic of conversation due to the fact that Sweden would like to ban the European Union (EU) to ban the mining of Bitcoins.

Arif Efendi What exactly is cryptocurrency and what does it all mean?

These are the kinds of questions I've been asking myself for a number of years following my investment and research. Let's gather and dive into the world that is cryptocurrency.

Arif Efendi What is cryptocurrency?
The simplest definition of cryptocurrency is digital currency. Arif Efendi With cryptocurrency, there aren't paper notes or physical coins. Data is the only type of currency.

A cryptocurrency is a form of digital currency that is specifically designed to be used on peer to peer networks, without any central authority. The most well-known cryptocurrency is Bitcoin.

Bitcoins and cybercash also have elements decentralization as they work without a central bank system or single administrator.

The decentralized control can be linked to another characteristic of cryptocurrency increased security and anonymity because of cryptography.
Arif Efendi There are numerous advantages of cryptocurrency over traditional currencies. Cryptocurrency is not easily counterfeited or devalued because of the cryptographic protocols that assure its existence.

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


In addition, cryptocurrency allows fast and instant transactions between people anywhere on Earth with a certain amount of trust.

What distinguishes cryptocurrency from stocks, and how can it be utilized to increase their value?
Cryptocurrency differs from stocks by the fact that it is a type digital currency that utilizes encryption to protect transactions.

Cryptocurrencies are completely decentralized, which means they don't have a central bank system or authority controlling their operations. The market for cryptocurrency usually involves cryptocurrency trading and investment.

Stock market: This is where brokers and dealers trade stocks. Stocks represent ownership interests in a company and can be sold or traded for an income based on their performance.

Stock prices fluctuate daily because of supply and demand, economic health, perceived value of investors, and the possibility of profit from growth in a company.

Arif Efendi But, cryptocurrency prices fluctuate less than 1-2% every day.

What is the reason why cryptocurrency is so popular?
Cryptocurrency is rapidly gaining popularity in today's society. Due to its advantages many people are now buying cryptocurrency. While information about cryptocurrency has been in circulation since its inception, more people are now fascinated by the subject.

Cryptocurrency allows people to have complete control over their money instead of having to rely on banks or financial institutions. It is also distributed, which means that nobody, no group, or individual can control it. The ability to be the sole owner of your money is the reason that draws lots of people, like myself to crypto.

What is the reason Sweden opposing Bitcoin mining being prohibited by the EU
Despite the growing popularity of cryptocurrency mining EU lawmakers are currently examining new legislation to ban energy-intensive cryptocurrency mining in any member of the bloc.

The law is proposed because cryptocurrency miners are draining electricity supplies in Sweden to their own benefit. This is a well-known method for cryptocurrency mining in the last few years.

Bitcoin was first mined on normal processor units. It quickly became clear that this was far too slow. Consequently, cryptocurrency is now created by massive mining pools. These mining pools consume massive amounts of power, which can be a problem for the Swedes.

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

This will power 200 households. Bjorn risinger as well as Erik Thedeen report that cryptocurrency miner uses increasing amounts of Sweden's clean energy.

"If we allow extensive mining crypto-assets into Sweden and the EU, we run the possibility that the renewable energy that we have will not be enough to support our climate change," wrote the Swedes in a letter addressed to the EU.

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
Even though cryptocurrency is more extensively discussed and spoken about than ever before , it is still a subject of debate.

I am a huge supporter of cryptocurrency and the numerous opportunities it provides. I'm sure it will stay around and make more headlines in future.

I do hope that , in the meantime, we can collaborate to ensure that cryptocurrency and climate coexist.



My Website: https://bugledigital.co.uk/arif-efendi-gives-his-thoughts-on-messi-winning-the-world-cup/