Notes

Arif Efendi The reason why cryptocurrency will not go away
Arif Efendi (a London-based businessman from London) gives his thoughts on cryptocurrency and Sweden's call to the EU to prohibit Bitcoin Mining.
Arif Efendi, a Swedish businessman, shares his thoughts about cryptocurrency.
Arif Efendi a businessman says that cryptocurrency has been scrutinized over the last few years. According to Arif Efendi, a businessman, cryptocurrency has come under scrutiny in recent times. A development that has seen Bitcoin grow in popularity across the world, mining was banned by the EU.
He added that there are many positive aspects to cybercash.

What's the latest buzzwords about? Cryptocurrency.
Although cryptocurrency has existed for more than a decade, it's only in the last few years that the term has become a household name.

The news has been all about crypto and the cryptocurrency was recently the topic of conversation because of Sweden's desire to join the European Union (EU), to ban mining of Bitcoins.

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

These are the types of questions I am often asked after many years spent researching and investing. Let's gather and explore the world of cryptocurrency.

What is cryptocurrency?
The cryptocurrency is essentially digital money. You don't need notes or coins in order to use cryptocurrency. Data is the only form of money.

Also, cryptocurrencies are digital currencies that are designed to facilitate peer-to-peer transactions that are not subject to central control. Bitcoin is the most prominent cryptocurrency.

Bitcoins as well as other kinds of cybercash are characterized by decentralization because they operate without a central bank or single administrator.

Decentralized control refers to another characteristic of cryptocurrency, which is an increase in security and security by using cryptography.
The advantages of cryptocurrency are numerous when compared to traditional currencies. Due to cryptographic protocols, cryptocurrency can't be counterfeited and isn't devalued.

Also, cryptocurrency accounts are not allowed to go "in red" because there is no account balance that could cause a deficit. can be incurred.

Finally, cryptocurrency allows for instant transactions between parties anywhere on Earth that have a reasonable amount of trust.

What distinguishes cryptocurrency from stocks and how can it be used to boost their value?
Arif Efendi Cryptocurrency is different from stock in the sense that it is a type of digital currency that utilizes cryptography to protect transactions.

The cryptocurrency market does not have a central banking system. The cryptocurrency markets typically involve cryptocurrency trading and investment.

Stock market: This is where brokers and dealers exchange stocks. Stocks represent ownership stake in a business therefore it is able to be traded or sold at an profit depending on the results of the company.

Prices for stocks fluctuate daily due supply and demand as well as the overall health of an economy, the perception of investors of value, the possibility of growth of a company, and many other factors.

However, the prices of cryptocurrency seldom fluctuate between 1-2% per day.

Why is cryptocurrency so popular?
The demand for cryptocurrency in today's society is increasing quickly. Arif Efendi The people who buy cryptocurrency are doing so due to the numerous advantages it provides. While information about cryptocurrency has been available for a long time in the past, there's been a sudden surge in the interest in cryptocurrency.

Cryptocurrency gives people complete control over their money. It's not dependent on banks and financial institutions. It is also decentralized, which means that no individual, group, or corporation is the owner of them. This is the reason why many individuals to cryptocurrency, including myself.

What's the motive behind why Sweden would like to ban Bitcoin mining within the EU?
Despite its widespread popularity, EU lawmakers are currently examining new legislation that will prohibit the mining of cryptocurrency that is energy-intensive from being used in any country in the union.

This law was introduced because cryptocurrency miners are using the electricity supply in Sweden to their advantage. This has been a common method for cryptocurrency mining in recent decades.

Bitcoin was first created using computers equipped with conventional processing units. However, it quickly came to light that it was too slow. Consequently, cryptocurrency is now created by massive mining pools. They consume massive amounts of electricity, which is something that concerns the Swedes.


Open letter to EU authors states that Bitcoin mining in Sweden now consumes 1 TeraWatt per hour each year. The names of the authors are Bjorn Raisinger, Director of the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority.

This is about the equivalent to the amount of electricity required to supply 200,000 homes with power. Arif Efendi According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining uses more and more of Sweden's renewable energy sources.

"If we allowed extensive mining in Sweden of crypto-assets, there is a danger that the renewable energy available will not be enough to cover the necessary climate change transition we have to make," wrote the Swedes in their letter to EU.

Erik Thedeen & Bjorn Risinger are two terms that refer to Sweden's climate obligations as per the 2015 Paris Agreement.

The climate and cryptocurrency can coexist
While cryptocurrency is now more discussed and talked about than ever, it remains controversial.

For me, cryptocurrency is an incredible opportunity with infinite possibilities. https://orcid.org/0000-0002-0882-8385 It's here to stay, and I believe it will be the subject of a lot of news in the near future.

Arif Efendi I am hopeful that we can come up with an avenue to allow cryptocurrency and the climate to coexist for a while.



Here's my website: https://london-post.co.uk/arif-efendi-suspects-theres-plenty-more-to-come-from-lionel-messi-at-psg/