Notes

Arif Efendi - Why Cryptocurrency Is here to stay
Arif Efendi (a London-based businessman from London) offers his views about cryptocurrency and Sweden's request to the EU to ban Bitcoin Mining.
Arif Efendi a businessman shares his view about cryptocurrency and Sweden's plans to ban Bitcoin mining.
Arif Efendi, a businessman, said that bitcoin mining has come being targeted in recent years. According to Arif Elfendi cryptocurrency has been in the news lately.
But, he says that cybercash has a lot of positive qualities to provide.

What's the latest buzzwords about Cryptocurrency.
While cryptocurrency has been around for over a decade but the term has only been a household word in the last few years.

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

What exactly is cryptocurrency and what are these things about?

These are the questions I've asked myself for several years following my investment and research. Let's get together to explore cryptocurrency.

What exactly is cryptocurrency?
Arif Efendi Digital money is cryptocurrency at its most basic. It is a digital form of money. There aren't physical notes or coins. https://www.dreamstime.com/arifefendi280_info Data is the sole form of money.

They are digital currencies that are able to be used on a peer-to peer network, without central authority. Bitcoin is the most well-known cryptocurrency.

Bitcoins and other types of cybercash can be considered decentralized because they do not have a central bank.

Another characteristic of cryptocurrency is its decentralized controlthat provides enhanced security and anonymity since it utilizes cryptography.
The benefits of crypto over conventional currencies are numerous. Arif Efendi Arif Efendi Cryptocurrency is not easily counterfeited or devalued because of the protocols for cryptography that guarantee its existence.

Also the cryptocurrency accounts aren't allowed to be "in red" because there is no account balance that could cause a deficit. can be incurred.

In addition, cryptocurrency allows instantaneous transactions between various parties anywhere on Earth with a fair amount of trust.

How is cryptocurrency different from stocks?
Cryptocurrency is distinct from stock in the sense that it is a form of digital currency that utilizes cryptography to secure transactions.

Cryptocurrencies are totally decentralized. This means that they don't have any central bank system or authority to manage the market. The market for cryptocurrency typically includes trading and investing in cryptocurrency.

The stock market permits brokers and dealers to trade stock. Stock represents ownership of the company and can either be traded or purchased for profit based on its performance.

Stock prices fluctuate every day due to demand and supply and the general health of the economy as well as the value that investors perceive potential gains from company growth, etc.

However, cryptocurrency prices rarely vary between 1-2% per day.

What is the reason why cryptocurrency is so popular?
The demand for cryptocurrency in today's society is increasing rapidly. Because of its benefits, people are buying cryptocurrency. Although information about cryptocurrency has been known for many years however, it is now being popularized, resulting in greater cryptocurrency transactions than before.

Arif Efendi Cryptocurrency gives people complete control over their money. It's not dependent on banks and financial institutions. It's also decentralized because nobody, no organization, or group is able to own it. This is the reason why many people to cryptocurrency, like me.

Why is Sweden so determined to have Bitcoin mining banned by the EU?
Despite its popularity , the EU legislative body is currently examining new legislation that would block the use of energy-intensive crypto mining performed in the countries of the EU.

Because cryptocurrency miners are using electricity supplies in Sweden to make money for themselves The legislation has been proposed. The practice has become popular as a cryptocurrency mining method in the last few years.

Arif Efendi Bitcoin was first mined on normal processor units. Then it became evident that this was too slow. Bitcoin is now created through large mining companies. These pools consume huge amounts and that's why it concerns the Swedes.

Open letter to EU: Bitcoin mining in Sweden consumes 1 TeraWatt each year, according the authors. 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 Risinger Erik Thedeen and others assert that cryptocurrency mining uses more and more Sweden's renewable energy.


"If we were to permit an extensive mining of crypto-assets in Sweden there is a chance that the amount of renewable energy available to us would not be enough to meet the requirements of the climate change that we have to undertake," the two Swedes wrote in their letter to EU.

Erik Thedeen and Bjorn Risinger refer to Sweden's climate commitments under the 2015 Paris Agreement.

The coexistence of the climate and cryptocurrency
While cryptocurrency is now more widely discussed and well-known than it ever was but it's still controversial as you can tell.

It's an absolute pleasure to metoo to see the endless possibilities of cryptocurrency. It's in the making and it's going to continue to be a major topic of discussion.

In the meantime I hope that we can come up with a solution that allows cryptocurrency and the climate to coexist.



Website: https://www.dreamstime.com/arifefendi280_info