Notes

Arif Elfendi The Reasons Why Cryptocurrency Will remain
Arif Efendi, a London-based businessman is quoted in an op-ed about his thoughts on cryptocurrency as well as Sweden's call for the EU to prohibit Bitcoin mining.
Arif Efendi, a Swedish businessman, shares his thoughts on cryptocurrency.
https://www.thelondoneconomic.com/lifestyle/my-business/rethinking-hospitality-navigating-the-post-covid-era-with-arif-efendi-351501/ Arif Efendi, a businessman, claims that cryptocurrency has been scrutinized in recent years. According to Arif Efendi, a Swedish businessman, cryptocurrency has come being attacked in recent years. This is a development which has increased globally.
He added that there are still many benefits to using cybercash.

What is all the hype about? Cryptocurrency.
https://books.google.ch/books?id=Mt2fZARSI98C&pg=PA1140&lpg=PA1140&dq=arif+efendi&source=bl&ots=TBDTNtBcU9&sig=ACfU3U3BZwvO6PxqqGQWLqfdl4ctGyQhYw&sa=X While cryptocurrency has been around more than a decade now however, it's only recently become a household word.

Cryptocurrencies often make the front of the news. Recently, they have were the focus of attention as Sweden wants to ban mining Bitcoin within the European Union (EU).

What is cryptocurrency ? And what does it mean?

Arif Efendi These are the kinds of questions I get asked after years of researching and investing. Let's look into the world of cryptocurrency together.

Arif Efendi What exactly is cryptocurrency?
In its simplest form, cryptocurrency is digital money. It is not a physical currency. The only method to earn money is via data.

Additionally, they are digital currencies designed for peer-to–peer transactions that are not subject to central control. Bitcoin is probably the most widely-known cryptocurrency.

Bitcoins and various other types of cybercash have elements of decentralization because they are not governed by the central bank or administrator.

Decentralized control is a reference to another characteristic of cryptocurrency, which is increased security and anonymity through its use of cryptography.
The benefits of cryptocurrency are far higher than traditional currencies. The cryptographic protocols behind the existence of cryptocurrency ensure that it can't be debased or counterfeited.

Additionally, accounts with cryptocurrency cannot go "in the red" since it does not have a balance, from which a deficit can be derived.

Finally, cryptocurrency allows near-instantaneous transactions with different parties from all over the world with some degree of trust.

What is the difference between cryptocurrency and stocks?
The cryptocurrency differs from stocks in that it is a kind of digital currency that uses encryption to protect transactions.

Cryptocurrencies have no central banking system and are decentralized. The cryptocurrency market typically includes investing and trading in cryptocurrency.

The stock market acts as an exchange where brokers and dealers trade stocks. Stocks represent ownership interests in companies and can be 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.

However, cryptocurrency prices seldom change more than a couple of percent every 24 hours.

What is the reason why cryptocurrency is so hot?

https://priceofbusiness.com/businessman-arif-efendi-on-crypto-investment/ The popularity of cryptocurrency in the present day is growing rapidly. The advantages that cryptocurrency provides are why people are investing in it. Although cryptocurrency information has been available for a long time now, there has been an unexpected increase in the interest in cryptocurrency.

Cryptocurrency allows people to have full control over their funds and not be dependent on financial institutions like banks and other. Like I said earlier, it is also decentralized, which means no person, group or business has ownership of it. It is the freedom to manage your money that draws many people including myself.

https://www.librakitap.com.tr/index.php?option=com_content&view=article&id=441&Itemid=105 What's the reason Sweden want the EU to prohibit Bitcoin mining?
Despite its popularity , the EU legislature is currently considering new legislation that would block energy-intensive crypto mining from being conducted in countries within the Union.

The law is proposed due to cryptocurrency miners draining electricity supplies in Sweden to their own benefit. It is now a well-known method for mining cryptocurrency in the past few time.

Bitcoin was initially mined with normal processing units. However this process proved to be too slow when it was first introduced. The majority of cryptocurrency now is derived from mining pools that are large in size. These pools consume huge quantities of electricity which is why this issue is a problem for the Swedes.

A letter addressed to EU authors claims that Bitcoin mining in Sweden currently consumes 1 TeraWatt per hour each year. The people who wrote the letter are Bjorn Risinger (director of the Swedish Environmental Protection Agency) and Erik Thedeen (director of the Swedish Financial Supervisor Authority).

This is enough electricity for 200,000 households. https://www.thelondoneconomic.com/lifestyle/my-business/rethinking-hospitality-navigating-the-post-covid-era-with-arif-efendi-351510/ Bjorn Risinger and Erik Thedeen claim that cryptocurrency miners use the increasing amount of Swedish renewable energy.

"If we were allowed to mine crypto-assets within Sweden There is an possibility that the renewable energy that we have available will not suffice to meet the needed climate transition," the Swedes wrote in a letter to the EU.

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

Coexistence between the climate and cryptocurrency
While cryptocurrency is now more widely discussed and well-known than ever before however, it is still a source of controversy as you can hear.

Arif Efendi To me, cryptocurrency is a fantastic opportunity with endless possibilities. I'm sure that it's going to be around for a while and it will create a lot more headlines in the future.

As of now, I'm hopeful we can discover a way to ensure that the cryptocurrency and the climate can coexist.



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