Notes

Arif Efendi: Why cryptocurrency will not go away
Arif Efendi is a London-based businessman who shares his views on cryptocurrency and Sweden’s call for the EU to prohibit Bitcoin mining.
Arif Efendi, a businessman, shares his views about cryptocurrency and Sweden's plans to ban Bitcoin mining.
Arif Efendi Arif Efendi, a businessman, said that cryptocurrency has been attacked in recent times. Arif Efendi According to Arif Efendi a Swedish businessman, cryptocurrency has come under attack in recent years. This is a development which has increased globally.
He claims, however, that cybercash is a positive option because of its many benefits.

https://soundcloud.com/arif-efendi-189561043 What's all the fuss about Cryptocurrency and the hype surrounding it?
Although cryptocurrency has existed for more than a year, it's only been within the last few years that it's become a common word.

Recent headlines have been focused on cryptocurrency. In recent times, they were the focus of discussion due to Sweden is asking the European Union to ban Bitcoin mining.

What is cryptocurrency, and what are all these terms?

These are the common questions I have encountered over the years of investing and research. Let us dig into it together and discover the world of cryptocurrency.

What exactly is cryptocurrency?
Digital money is cryptocurrency at its most basic. Arif Efendi Arif Efendi There aren't any paper bills or physical coins that are backed by cryptocurrency. Arif Efendi It is solely as data.

Furthermore, cryptocurrencies are types of digital currencies designed to be used on peer-to-peer networks devoid of central authority. Bitcoin is by far the most popular cryptocurrency.

Bitcoins and various other forms of cybercash come with elements of decentralization since they operate without the central bank, or a single administrator.

Decentralized control refers to another characteristic of cryptocurrency, which is greater security and privacy due to the use of cryptography.
Cryptocurrency has many benefits compared to traditional currency. Due to the cryptographic protocol, cryptocurrency can't be counterfeited and isn't devalued.

In addition, cryptocurrency accounts are not "in the red" because cryptocurrency does not actually have an account balance, from which a deficit could occur.

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

What is the difference between cryptocurrency and stocks?
Cryptocurrency is different from stock in that cryptocurrency is a type of digital currency that uses cryptography to secure transactions.

Cryptocurrencies can be used as a decentralized currency. They are not subject to any central banking system. Arif Efendi The market for cryptocurrency usually involves investing and trading in cryptocurrency.

Stock market: This is the place where brokers and dealers deal in stocks. Arif Efendi A stock is an ownership stake within the company. It can be traded at a profit , or exchanged for cash depending on the business's performance.


Arif Efendi The price of stocks fluctuates daily because of supply and demand and economic health overall, perception value by investors and potential profits from company expansion, etc.

But, prices for cryptocurrency rarely fluctuate more than 1-2% each day.

What is the reason why cryptocurrency is so popular?
The popularity of cryptocurrency is growing in our modern society. People are buying cryptocurrency due to the numerous advantages it can bring. While cryptocurrency information has been around for a number of years, cryptocurrency is gaining more interest.

The use of cryptocurrency is to allow people to manage their money instead of relying on banks and other financial institutions. As mentioned earlier, it is also decentralized, meaning that no individual, group, or company is the owner of them. The ability to be the sole owner of your money is what draws many people, including me to crypto.

What is the reason why Sweden would like the EU to prohibit Bitcoin mining?
Despite its popularity it is not currently being thought of by EU legislators. The EU is currently looking into new laws that could prevent energy-intensive cryptocurrency miners from being used across the EU.

The law is proposed due to cryptocurrency miners draining energy sources in Sweden to their own benefit. It has been popularized in the field of cryptocurrency mining over the past years.

Bitcoin was initially mined with ordinary processing machines. However this process proved to be slow when it first came out. Nowadays, cryptocurrency is created by large mining pools. These pools consume huge amounts of energy, and this is what concerns the Swedes.

A letter addressed to EU authors claims that Bitcoin mining in Sweden is now consuming 1 TeraWatt of energy per hour. The names are Bjorn risinger, director of the Swedish Environmental Protection Agency and Erik Thedeen from the Swedish Financial Supervisor Authority.

This is enough electricity to power 200,000 homes. Bjorn Risinger Erik Thedeen and others claim that cryptocurrency mining uses the increasing amount of renewable Swedish energy sources.

"If we were permitted to mine cryptoassets in Sweden and the EU, there's 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 obligation under the 2015 Paris Agreement.

Coins and climate coexist
While cryptocurrency is becoming more well-known and widely discussed than ever before, it's still in the middle of controversy as you can see.

I find immense joy in cryptocurrency and its many possibilities. I am sure it will be around for a long time and will make headlines in the future.

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



My Website: https://islamansiklopedisi.org.tr/abdulbaki-arif-efendi