Notes

Arif Elfendi: Why Cryptocurrency will Stay
Arif Efendi, an English-based businessman, shares his views regarding crypto and Sweden's demand that the EU ban Bitcoin mining.
Arif Efendi is a businessman who has a strong opinion on cryptocurrency.
Arif Elfendi, a businessman from Pakistan believes that cryptocurrency has been controversial in recent years. According to Arif Efendi cryptocurrency has been in the news recently.
He says, however that cybercash is a positive option because of its many benefits.

Arif Efendi What's the fuss over Cryptocurrency and its hype?

While cryptocurrency has been around more than a decade now however, it's only recently become a popular phrase.

Recent headlines have been focused on crypto. In recent times, they were the subject of discussion because Sweden has asked the European Union to ban Bitcoin mining.

What's the deal with cryptocurrency?

https://www.sosyalarastirmalar.com/abstract/risala-fi-hased-work-of-kadizade-mehmed-arif-efendi-and-its-analysis-of-contents-73091.html After years of study and investments These are the questions I often meet. Let's take a dive together and look into cryptocurrency.

What is cryptocurrency?
Digital money is cryptocurrency at its most basic. There aren't any physical notes or coins. All money is in the form of data.

Cryptocurrencies are digital currencies that can be used in peer-to-peer networks without the need for central authority. The most widely known cryptocurrency is Bitcoin.

Bitcoins and cybercash also have aspects of decentralization because they work without a central banking system or single administrator.

Arif Efendi Arif Efendi Another characteristic of cryptocurrency is its centralization of control, which provides enhanced security and anonymity since it utilizes cryptography.
The benefits of cryptocurrency are far superior to traditional currencies. The cryptographic protocols behind cryptocurrency's existence guarantee that it can't be debased or counterfeited.

Additionally, accounts with cryptocurrency are not "in the red" because cryptocurrency does not have a real balance, from which a deficit can be derived.

With a reasonable level of trust, cryptocurrency also lets for fast transactions between different parties on Earth.

What is the difference between cryptocurrency and stocks?
Cryptocurrency is distinct from stock in the sense that it's an electronic currency that makes use of cryptography to protect transactions.

The cryptocurrency market is not a central banking system and are decentralized. The cryptocurrency market is a place for investing and trading.

Dealers and stock brokers trade stocks on the stock market. Stocks represent ownership interests in firms and may be traded at a profit or resold for profit, based on the business's performance.

Stock prices fluctuate every day due to supply and demand as well as the overall health of the economy as well as the value that investors perceive, potential for gains through business growth, etc.

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

Why is cryptocurrency so wildly well-liked?
The popularity of cryptocurrency in today's society is increasing rapidly. The people who buy cryptocurrency are buying it for the numerous benefits it offers. Although cryptocurrency information has been around for a number of years, cryptocurrency is gaining more interest.

Arif Efendi The cryptocurrency system allows users to take complete control over their money instead of having to rely on banks or financial institutions. As I mentioned, cryptocurrency is also not centralized. It means it does not belong to any particular person or group, corporation or other organization. It is the freedom to control your money that entices many people like me.

What is the reason why Sweden wish for to ban Bitcoin mining in the EU to prohibit Bitcoin mining?
Arif Efendi Despite its popularity the EU legislature is currently considering new legislation that would prohibit energy-intensive crypto mining from being conducted in countries within the EU.

Due to cryptocurrency miners who are using electricity in Sweden to make money for themselves Legislation has been proposed. This is a very popular way to mine cryptocurrency in recent times.

When Bitcoin was first introduced in the early 2000s, it was mined on computer systems that were able to process normal data however, it soon became apparent that the process was too slow. Today, cryptocurrency is produced through large mining pool. These mining pools consume massive amounts of energy, which poses a threat for the Swedes.

The writers of an open letter to the EU claim that Bitcoin mining in Sweden is 1 TeraWatt-hour every 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 is about the equivalent amount of power needed for 200,000 households to have electricity. Bjorn Risinger & Erik Thedeen claim that cryptocurrency miners are using more and more of Sweden’s renewable energy.

"If we allowed extensive mining in Sweden of crypto-assets, there is a danger that the renewable energy available is not enough to meet the demands of the climate transition that we have to undertake," wrote the Swedes in their letter to the EU.

Arif Efendi Erik Thedeen & Bjorn Risinger are two terms used to refer to Sweden's climate obligations in accordance with the 2015 Paris Agreement.

Climate and cryptocurrency
While cryptocurrency is more popular and talked about than it has ever been, it is still controversial as you can hear.

I have a lot of fun with cryptocurrency and all its possibilities. It's here for a long time, and I believe it will generate a lot of attention in the near future.

I really hope that in the meantime we will be able to work together to ensure that the cryptocurrency and climate coexist.



My Website: https://soundcloud.com/arif-efendi-189561043