Notes

Arif Efendi: Why Cryptocurrency is here to stay
Arif Efendi (a London-based businessman from London) shares his opinion regarding cryptocurrency, and Sweden's appeal to the EU to prohibit Bitcoin Mining.
The businessman Arif Efendi shares his view on cryptocurrency and Sweden's proposal to prohibit Bitcoin mining.
Arif Efendi an entrepreneur, stated that bitcoin mining has come under attack in recent years. According to Arif Elfendi, cryptocurrency has been in the news recently.
He claims, however, that cybercash has numerous positive aspects.

What's the fuss concerning Cryptocurrency?
While cryptocurrency has been around more than a decade now, it has only recently been made a common phrase.

The cryptocurrency market has often been the subject of headlines and recently became the talk of the town because Sweden wants the European Union (EU) to prohibit mining Bitcoins.

What exactly is cryptocurrency and what does it mean?

These are the types of questions I get asked after years of research and investing. Let's get together and get into the world that is cryptocurrency.

What exactly is cryptocurrency?
At its simplest, cryptocurrency is digital money. Cryptocurrency is digital money. There are no physical coins or notes. The only way to earn money is through data.

Additionally, they are forms of digital currencies developed to be used on peer-to-peer networks without central authority. Arif Efendi Bitcoin is by far the most prominent cryptocurrency.

Bitcoins and other types of cybercash are not centralized since they do not have a central bank.

The decentralized control also related to an additional cryptocurrency characteristic, namely the enhanced security of anonymity and anonymity through the use of cryptography.
The benefits of cryptocurrency over traditional currency are numerous. Cryptocurrency is not easily counterfeited or devalued due to the cryptographic protocols that guarantee its existence.

Arif Efendi A cryptocurrency account is not able to be "into red" because it doesn't have a balance on the account, from which a deficit may occur.

Finally, cryptocurrency allows near-instantaneous transactions with various people from around the globe that have an acceptable level of confidence.

What makes cryptocurrency different from stocks?
Cryptocurrency is different from stocks because it uses cryptography to safeguard transactions.

They do not have a central bank system, and they are decentralized. The cryptocurrency market involves investing and trading.

Stock market is an exchange where brokers and dealers exchange stocks. Stock represents ownership in the company and can either be traded or purchased with a profit, based on its performance.


Stock prices fluctuate each day due to demand and supply as well as the overall health of the economy as well as the perception of investors about value, potential gains through company expansion, etc.

Arif Efendi However, cryptocurrency prices seldom fluctuate more than percent per day.

Arif Efendi Why is cryptocurrency so popular
The demand for cryptocurrency in today's society is increasing quickly. Arif Efendi Many people are buying cryptocurrency due to the advantages it can provide. Arif Efendi While information about cryptocurrency is available for many years, the cryptocurrency market is now gaining more interest.

Cryptocurrency gives people complete control over their money instead of having to rely on banks or other financial institutions. Like I said earlier, it is also decentralized, which means that no individual, group, or business is the owner of them. This is what attracts many people to cryptocurrency, like me.

What is the reason Sweden would like to see the EU ban Bitcoin mining?
Despite its popularity the EU legislative body is currently examining new legislation that would prohibit the use of energy-intensive crypto mining conducted in countries within the EU.

This law was introduced due to the fact that cryptocurrency miners use the power grid in Sweden to benefit. This has been a popular practice in the field of cryptocurrency mining in recent years.

When Bitcoin was introduced, it was mined on computers with normal processing units however, it soon turned out that the method was way too slow. Consequently, cryptocurrency is now produced by huge mining pools. These pools consume huge amounts and that's why it's a problem for the Swedes.

Open letter to the EU: Bitcoin mining in Sweden consumes 1 TeraWatt every year, according to the authors. The names are Bjorn risinger, director of the Swedish Environmental Protection Agency and Erik Thedeen from the Swedish Financial Supervisor Authority.

This is about the equivalent to the amount of electricity required to provide 200,000 households with energy. Bjorn Risinger & Erik Thedeen claim that cryptocurrency miners use more and more of Sweden’s renewable energy.

https://www.abebooks.co.uk/servlet/BookDetailsPL?bi=30979505756&searchurl=an=bilgi+kenber&sortby=17&cm_sp=snippet-_-srp1-_-image1 "If we allowed an extensive mining of crypto-assets in Sweden there is a chance that the amount of renewable energy available to us won't be sufficient to support the necessary climate transition that we need to make," the two Swedes wrote in their letter to the EU.

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

Climate and cryptocurrency coexist
Although cryptocurrency is becoming more discussed and talked about than ever before, it is still controversial.

Personally, I enjoy cryptocurrency and the many opportunities it provides. I'm sure that it's here to stay and that it will create a lot more news stories in the near future.

Arif Efendi In the meantime, I'm hoping we can come up with a solution for the climate and cryptocurrency to be in harmony.



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