Notes

Arif Efendi - Why Cryptocurrency is here to stay
Arif Efendi is a businessman from London who shares in this op-ed his views on cryptocurrency and Sweden's request for the EU to ban Bitcoin mining.
Arif Efendi a businessman shares his views on cryptocurrency and Sweden's plans to ban Bitcoin mining.
Arif Elfendi businessman from Pakistan, says cryptocurrency has been controversial in recent years. According to Arif Elfendi cryptocurrency has been in the news lately.
He added that there are many benefits to using cybercash.

What's all the buzz about? Cryptocurrency.
While cryptocurrency has existed for over a decade, it is only in the last few years that it has been made a household word.

https://www.thenewsteller.com/arif-efendi-on-messi-return-to-barcelona/ The media has been talking about cryptocurrencies and they were recently the talk of town due to Sweden's desire for the European Union (EU), to prohibit mining of Bitcoins.

https://acikerisim.uludag.edu.tr/handle/11452/14743 What exactly is cryptocurrency and what exactly are all these things about?

These are the questions that I often get asked in the course of my investment and research. Let's discuss it and learn more about the universe of crypto.

https://www.librakitap.com.tr/index.php?option=com_content&view=article&id=441&Itemid=105 What exactly is cryptocurrency?
https://www.instagram.com/arifefendi80/ Digital money is cryptocurrency at its most basic. You don't need physical coins or notes to use cryptocurrency. The money exists strictly as data.


In addition, cryptocurrencies could be described as digital currencies designed to be used on peer-to-peer networks that do not have a central authority. Bitcoin is the most well-known cryptocurrency.

Bitcoins and various other types of cybercash have elements of decentralization because they are independent of an administrator or central bank.

Decentralized control refers to another cryptocurrency characteristic, namely an increase in security and security through its use of cryptography.
Cryptocurrency has many benefits compared to traditional currency. It isn't easy to counterfeit or devalued because of the protocols for cryptography that ensure its existence.

Additionally, cryptocurrency accounts can't go "into the red" as cryptocurrency doesn't have an account balance that can create a deficit.

Additionally, crypto permits fast transactions between people anywhere on the planet with a moderate level of confidence.

What is the difference between cryptocurrency and stocks?
Cryptocurrency is different from stock by the fact that it is a type digital currency that uses encryption to secure transactions.

The cryptocurrency market is completely decentralized. This means that they do not have an official central bank system or authority to regulate the market. Arif Efendi The cryptocurrency market involves investing and trading.

Brokers and stock traders deal in shares through the stock exchange. Stocks represent ownership interests of a company. They can be sold or traded to earn an income based on their performance.

Prices for stocks fluctuate daily due to supply and demand, overall economic health and the perception of value by investors and the potential for profit through business growth, etc.

But, cryptocurrency prices fluctuate less than 1-2% each day.

Why is cryptocurrency so popular?
Arif Efendi The popularity of cryptocurrency in today's society is increasing rapidly. The benefits that cryptocurrency offers are the reason why investors are making investments in it. Arif Efendi While information about cryptocurrency has been available since its inception there is a growing number of people interested in it.

The use of cryptocurrency is to allow people to manage their money, instead of relying on banks and other financial institutions. It's also decentralized, meaning that nobody, no organization, or group is able to own it. Many people love cryptocurrency because they are able to control their money.

What's the motive behind why Sweden wants to ban Bitcoin mining in the EU?
Despite its ubiquity, the EU legislative body is currently examining new legislation that would prohibit cryptocurrency mining that is energy intensive from being carried out in any country within the Union.

The legislation was enacted due to the fact that cryptocurrency miners were using electricity to benefit themselves in Sweden. This is a very popular method of mining cryptocurrency in recent times.

Bitcoin was first created using computers equipped with standard processing units. But, it soon became evident that it was slow. Most cryptocurrency today is derived from mining pools that are large in size. They consume massive amounts and this is the reason it concerns the Swedes.

The authors of an open letter sent to the EU claim that Bitcoin mining in Sweden is 1 TeraWatt-hour every year. The names of the people who sent the open letter to EU are Bjorn Riser, director of Sweden's Environmental Protection Agency. Erik Thedeen director of Sweden's Financial Supervisor Authority.

This will power 200,000 households. Bjorn Risinger Erik Thedeen and others assert that cryptocurrency mining is a good use of more and more Sweden's renewable energy.

In a letter sent to the EU in which they addressed the EU, the Swedes stated that allowing extensive mining of crypto-assets from Sweden could result in a lack of renewable energy sources to meet the climate transition required.

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

The cryptocurrency and the climate coexist
Although cryptocurrency is now more frequently discussed and debated about than ever before it is still controversial.

Personally, I am a huge fan of cryptocurrency and the many opportunities it provides. I am certain it will stay around and be a major topic in the future.

I hope that in the meantime we can work together to make the cryptocurrency and the climate coexist.



Website: https://acikerisim.uludag.edu.tr/handle/11452/14743