Notes

Arif Efendi - Why Cryptocurrency is here to stay
Arif Efendi (a London-based entrepreneur) shares his opinion on cryptocurrency and Sweden's call to the EU to prohibit Bitcoin Mining.
Arif Efendi, a Swedish businessman, gives his opinion about cryptocurrency.
https://list.ly/thorsenlerche963 Arif Efendi, a businessman, claims that cryptocurrency has been scrutinized in recent years. According to Arif Elfendi, a businessman cryptocurrency has come under scrutiny in recent years. A development that has seen Bitcoin grow in popularity across the world, mining was banned by EU.
Arif Efendi He claims, however, that cybercash is still a great option, with many benefits.

What's the fuss about Cryptocurrency.
Although cryptocurrency has been around for since the beginning of time however, it's only recently been made a common word.

Recent news stories have focused on cryptocurrencies. Recently, they have become the topic of conversation because Sweden is asking the European Union to ban Bitcoin mining.

What's the purpose of this? What exactly is cryptocurrency?

These are the kinds of questions I often get asked in the course of my investment and research. Let's tackle it together and explore the cryptocurrency world.

What exactly is cryptocurrency?
The simplest definition of cryptocurrency is that it is a digital currency. You don't need physical notes or coins for using cryptocurrency. The money exists only in the format and form of data.

The cryptocurrency is a digital currency that can be used in peer-to-peer network without the need for central authority. Bitcoin is among the most well-known cryptocurrency.

Bitcoins as well as other kinds of cybercash have elements of decentralization since they operate without any central bank or administrator.

The decentralized control is related to an additional cryptocurrency attribute, which is the enhanced security of anonymity and security due its use cryptography.
There are many advantages to cryptocurrency over conventional currency. Arif Efendi Because of cryptographic protocols that guarantee the currency's existence, cryptocurrency cannot be counterfeited or devalued.

In addition, cryptocurrency accounts cannot be "in the red" since they don't have a balance in the account.

Arif Efendi With a decent amount of trust, crypto lets for fast transactions between various parties on Earth.

What distinguishes cryptocurrency from stocks and how can it be used to boost their value?
The cryptocurrency market is distinct from stock in the sense that it is an electronic currency that uses cryptography to secure transactions.

They do not have a central bank system, and are not centralized. The cryptocurrency market is primarily about investing in and trading with cryptocurrency.

Stock traders and brokers trade in stocks on the stock exchange. Stocks are a form of ownership in a business and may be traded or sold for an income based on their performance.

Prices for stocks fluctuate daily due to demand and supply as well as the overall health of the economy, perception value by investors, potential gains through company expansion, etc.

However, cryptocurrency prices seldom fluctuate by more than 1-2 percent per day.

Why is cryptocurrency so popular?
The cryptocurrency market is growing rapidly in popularity right now. The people who buy cryptocurrency are buying it for the numerous benefits it offers. While information on cryptocurrency has been in circulation since the beginning but more people are attracted to it.

Cryptocurrency is a way for individuals to manage their money instead of having to rely on banks and other financial institutions. It's also decentralized because no one, group, or company has the right to control it. This is what attracts many individuals to cryptocurrency, including myself.

What's the reason Sweden would like to see the EU prohibit Bitcoin mining?
Despite the increasing popularity of mining cryptocurrency, EU legislators are currently looking at new legislation that will ban energy-intensive cryptocurrency mining in any EU member country.

The law is proposed due to cryptocurrency miners draining electricity supplies in Sweden to benefit themselves. Since the last few years, it has become a common method to generate cryptocurrency.

Arif Efendi Bitcoin was created initially using computers equipped with standard processing units. But, it soon became apparent that it was not fast enough. Thus, today, cryptocurrency is created by massive mining pools. Arif Efendi They consume huge amounts of electricity which is a concern for the Swedes.

Open letter to EU authors declares that Bitcoin mining in Sweden currently consumes 1 TeraWatt of energy per hour. The names of the authors 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 to supply 200,000 homes with power. Bjorn risinger and Erik Thedeen report that cryptocurrency miner uses increasing amounts of Sweden's green energy.

"If we were permitted to mine crypto-assets within Sweden, then there is an opportunity that the renewable energies that we have available will not suffice to support 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 commitment under the 2015 Paris Agreement.

The coexistence of climate change and cryptocurrency
While cryptocurrency is now more widely discussed and well-known than it ever was, it remains controversial as you'll hear.

I find immense joy in cryptocurrency and its many possibilities. It is here to stay, and it will remain in the news for a long time.

In the meantime, I'm hopeful we'll discover a way to ensure that the environment and cryptocurrency can coexist.


Website: https://www.skyads.aero/author/arif-efendibqpa566/