Notes

Arif Elfendi: Why Cryptocurrency will remain
Arif Emendi from London, a businessman, is the author of this piece of opinion on cryptocurrency.
Arif Efendi a businessman shares his views on cryptocurrency and Sweden's proposal for banning Bitcoin mining.
https://id.pinterest.com/arifefendi37/ Arif Efendi, a businessman, said that bitcoin mining has come under attack in recent years. According to Arif Efendi cryptocurrency has been featured in the news recently.
He claims, however, that cybercash has numerous positive aspects.

What's the latest buzzwords about Cryptocurrency.
Although cryptocurrency has been around for since the beginning of time but it's only just become a popular term.

Cryptocurrencies are often the subject of the news. Arif Efendi Recently, they have received attention due to Sweden plans to ban mining Bitcoin within the European Union (EU).

What is cryptocurrency and what does it mean?

These are the questions that I am often faced with after years of investment and research. Let's take a dive together and look into cryptocurrency.


What exactly is cryptocurrency?
The cryptocurrency is essentially digital money. There aren't any paper bills or physical coins that are backed by cryptocurrency. All money is in the form data.

Also, cryptocurrencies are digital currency designed for peer-to-peer transactions, which are unaffected by central control. Bitcoin is among the most popular cryptocurrency.

Bitcoins as well as other forms of cybercash are not centralized since they don't have a central bank.

One more characteristic of cryptocurrency is its decentralized control, which is increased security and privacy due to the use of cryptography.
The benefits of crypto over conventional currencies are numerous. It isn't easily manipulated or devalued because of the cryptographic protocols that assure its existence.

https://soundcloud.com/arif-efendi-189561043 In addition, cryptocurrency accounts cannot be "into the red" since it doesn't carry an account balance that could create a deficit.

With a decent amount of trust, cryptocurrency permits almost instantaneous transactions between various parties on Earth.

How is cryptocurrency different from stocks?
Cryptocurrency is different from stocks in the sense that it's an electronic currency that utilizes cryptography to secure transactions.

Cryptocurrencies are completely decentralized, that is, they have no centralized banking system or authority that controls their operations. The markets for cryptocurrency typically include the trading of cryptocurrency and investments.

Stock traders and brokers trade stocks on the stock exchange. Arif Efendi Stocks represent ownership interests in businesses and are traded for profit or resold at a profit based on the business's performance.

Stock prices fluctuate due to supply and need, overall economy health, perceived value by investors, company growth potential, etc.

But, prices for cryptocurrency rarely fluctuate between 1-2% per day.

Why is cryptocurrency so popular?
Nowadays, cryptocurrency is quickly rising in importance. Because of its benefits, people are buying cryptocurrency. While information about cryptocurrency has been around for years but there is a sudden surge in the interest in cryptocurrency.

Cryptocurrency allows people to have complete control of their funds and not be dependent on banks or other financial institutions. Arif Efendi It is also distributed, which means that no company, group or individual is able to control it. Many of us are attracted to cryptocurrency for the possibility of managing their own finances.

What is the motivation behind Sweden would like to prohibit Bitcoin mining within the EU?
Despite its ubiquity, the EU legislative body is currently examining new legislation that would block the use of energy-intensive crypto mining conducted in countries within the union.

Since cryptocurrency miners have been making use of electric power sources in Sweden to their benefit, legislation is being introduced. This has been a popular practice in the field of cryptocurrency mining over the past years.

Bitcoin was initially mined using regular processor units. Then it became evident that this was too slow. Most cryptocurrency today is derived from mining pools that are large in size. These mining pools use huge quantities of electricity and this is what concerns the Swedes.

The writers of an open letter addressed to the EU claim that Bitcoin mining in Sweden uses 1 TeraWatt-hour per year. The names of the people who wrote the letter are Bjorn Risinger, director of the Swedish Environmental Protection Agency, and Erik Thedeen, director of the Swedish Financial Supervisory Authority

This will power 200,000 households. Bjorn Riser and Erik Thedeen say that cryptocurrency mining consumes more energy in Sweden.

In a letter addressed to the EU in a letter to the EU, the Swedes stated that allowing extensive mining of cryptoassets by Sweden could lead to a shortage of renewable energy sources to meet the required climate change.

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

The coexistence of cryptocurrency and climate
While cryptocurrency is now more widely discussed and well-known than ever before, it remains controversial as you can hear.

Personally, I enjoy cryptocurrency and the endless possibilities it offers. It's here to stay, and I believe it will generate a lot of attention within the next few years.

I'm hopeful that we will find an avenue to allow cryptocurrency and climate to coexist for a while.



Here's my website: https://soundcloud.com/arif-efendi-189561043