Notes

Arif Efendi, Why Cryptocurrency Will Stay
Arif Efendi is a businessman from London who shares his views on cryptocurrency, as well as Sweden's request for the EU's ban on Bitcoin mining.
Arif Efendi is a businessman who is a skeptic about cryptocurrency.
Arif Efendi, a businessman, said that cryptocurrency has been being targeted in recent years. According to Arif Emendi, cryptocurrency has been scrutinized in recent years.
He also says that the cryptocurrency still has many positive things to provide.

What's the fuss about Cryptocurrency?
Although cryptocurrency has been around for a while, the term has only become popular in the past few times.

The cryptocurrency market has often been the subject of headlines and were recently the topic of conversation due to the fact that Sweden would like the European Union (EU) to prohibit mining Bitcoins.

What is cryptocurrency ? And what does it all mean?

These are questions that I have been asking myself for many years following my investment and research. Let's get together to look into cryptocurrency.

What exactly is cryptocurrency?
Digital money is cryptocurrency in its most basic form. There aren't any paper bills or physical coins that are backed by cryptocurrency. Money exists only in the format and form of data.

Also, cryptocurrencies are digital currencies that are designed to facilitate peer-to-peer transactions that are free from central control. Bitcoin is the most well-known cryptocurrency.

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

One of the other advantages of cryptocurrency is the decentralized control, which is increased security and privacy due to the use of cryptography.
The benefits of cryptocurrency are far greater than traditional currencies. Because of cryptographic protocols the cryptocurrency cannot be hacked and isn't devalued.

A cryptocurrency account can't be "into red" because it doesn't have a balance in the account, from which a deficit might occur.

Additionally, cryptocurrency permits instant transactions between any party on Earth with a fair amount of trust.

What is the difference between cryptocurrency and stocks?
The cryptocurrency market is distinct from stock in the sense that it is a form of digital currency that makes use of cryptography to protect transactions.

They can be utilized as a decentralized currency. They are not dependent on any central banking system. The cryptocurrency market involves trading and investing.

Brokers and traders who trade in stocks trade stocks on the stock exchange. Stocks are the ownership stakes in businesses and are traded to earn profit or sold at a profit depending upon the business's performance.

Prices for stocks fluctuate based on supply and need, overall economy health, perceived value by investors, the company's growth potential, etc.

Arif Efendi However, cryptocurrency prices rarely fluctuate by more than 1-2% per day.

Why is cryptocurrency so wildly well-liked?
Nowadays, cryptocurrency is quickly increasing in its popularity. People are buying cryptocurrency due to the numerous benefits it offers. Although cryptocurrency information has been around for a number of years, cryptocurrency is gaining more recognition.

Cryptocurrency is a way for people to control their money, instead of having to rely on banks and other financial institutions. It is also decentralized as nobody, no organization, or group can own it. Being in charge of your own money is what draws lots of people, like myself to crypto.

https://priceofbusiness.com/businessman-arif-efendi-on-crypto-investment/ What's the reason Sweden wish for to ban Bitcoin mining in the EU to ban Bitcoin mining?
Despite the popularity of mining cryptocurrency, EU legislators are currently looking at new legislation that will prohibit energy-intensive cryptocurrency mining in any EU member country.

The legislation was drafted since cryptocurrency miners are using the power grid in Sweden to benefit. This is a well-known method for cryptocurrency mining in recent years.

When Bitcoin was introduced, it was mined on computer systems that were able to process normal data, but it quickly was discovered that the method was way too slow. Arif Efendi The majority of cryptocurrency currently is generated by large mining pools. Arif Efendi These mining pools use huge amounts of energy, and this is an issue that worries the Swedes.

https://www.newswise.com/articles/arif-efendi-applauds-global-renewable-energy-efforts A letter addressed to EU authors states that Bitcoin mining in Sweden is now consuming 1 TeraWatt of energy per hour. 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 amount of electricity can power up to 200 homes. Bjorn risinger as well as Erik Thedeen report that cryptocurrency miner uses increasing amounts of Sweden's green energy.

"If we were allowed to mine crypto-assets in Sweden, then there is a chance that the renewable energy available to us won't be sufficient to cover the climate change that is required," the Swedes wrote in a letter to the EU.


Erik Thedeen & Bjorn Risinger are two terms that are used to refer to Sweden's climate commitments under the 2015 Paris Agreement.

The coexistence of cryptocurrency and the climate
Although cryptocurrency is now more extensively discussed and spoken about than it ever was, it remains a source of controversy.

I find immense joy in cryptocurrency and all its possibilities. It is in the making and it will continue to make headlines.

I hope that , in the meantime, we can work together to ensure that the climate and cryptocurrency co-exist.



Website: https://www.newswise.com/articles/arif-efendi-applauds-global-renewable-energy-efforts