Notes

Arif Efendi The Reasons Cryptocurrency is here to stay
Arif Efendi, a British-based businessman, shares his views regarding crypto and Sweden's demand that the EU prohibit Bitcoin mining.
Arif Efendi is a businessman who is a skeptic on cryptocurrency.
Arif Efendi According to businessman Arif Efendi, cryptocurrency has been under scrutiny in recent years. According to Arif Efendi, cryptocurrency has come under scrutiny in recent times.
He also says that the cryptocurrency still has many positive things to offer.

What's the fuss about Cryptocurrency.
While cryptocurrency has been around longer than a decade, it has only recently become a popular word.

Bitcoin and other cryptocurrency-related currencies have been in the news recently. This is due to Sweden would like the European Union, (EU) to not allow the mining of Bitcoins.

What's the issue with cryptocurrency?

These are the kinds of questions I often get after years of research and investing. Arif Efendi Let's discover the world of cryptocurrency together.

What is cryptocurrency?
At its simplest it is a digital currency. https://www.facebook.com/arif.efendi.16906/ There are no physical coins or paper bills using cryptocurrency. The only way to earn money is via data.

Also, cryptocurrencies are digital currency designed for peer-to-peer transactions, which are unaffected by central control. Bitcoin is by far the most popular cryptocurrency.

Bitcoins and other types of cybercash are characterized by decentralization, as they operate without a central bank or single administrator.

The decentralized control is linked to a different characteristic of cryptography: enhanced anonymity and security because of cryptography.
There are numerous advantages of cryptocurrency over traditional currencies. Cryptocurrency is not easily counterfeited or debased because of the cryptographic protocols that assure its existence.


Furthermore, cryptocurrency accounts cannot be "in the red", as they do not have a balance in the account.

Additionally, cryptocurrency permits instantaneous transactions between various parties from all over Earth with a reasonable degree of confidence.

How does cryptocurrency differ from stocks?
Cryptocurrency is more than stocks , because cryptocurrency is a digital currency that uses cryptography for transactions.

Cryptocurrencies are totally decentralized. This means that they do not have a central bank system or authority to manage the market. The market for cryptocurrency usually includes investing and trading in cryptocurrency.

The stock market allows brokers and dealers to trade stocks. Stocks represent ownership interests in companies and can be traded at a profit or resold at a profit depending upon the business's performance.

Stock prices fluctuate every day because of demand and supply as well as the overall health of the economy as well as the value that investors perceive potential gains from the growth of a company, etc.

But, prices for cryptocurrency rarely change more than 1-2% each day.

Why is cryptocurrency so wildly sought-after?
Cryptocurrency is rapidly increasing in popularity right now. The people who buy cryptocurrency are doing so because of the benefits it can provide. The subject of cryptocurrency has been around for years, but recently cryptocurrency has sparked excitement, leading to more cryptocurrency transactions than ever before.

Cryptocurrency allows people to have full control over their money and not depend on banks or other financial institutions. Arif Efendi Like I said earlier, it is also decentralized, meaning no person, group or corporation owns them. It's the ability to manage your money that entices many people including me.

Arif Efendi What is the reason why Sweden is seeking to prohibit Bitcoin mining in the EU?
Despite its widespread acceptance in the EU legislators are looking at new legislation to restrict energy-intensive cryptocurrency mining carried out in all countries of the EU.

https://www.sosyalarastirmalar.com/abstract/risala-fi-hased-work-of-kadizade-mehmed-arif-efendi-and-its-analysis-of-contents-73091.html Because cryptocurrency miners are making use of electricity sources in Sweden to gain a profit Legislation has been proposed. This has been a common method of mining cryptocurrency in recent years.

Bitcoin was initially created on regular processing units. But it was soon evident that the procedure was too slow. Bitcoin is now generated by large mining pools. Arif Efendi The Swedes are concerned by the fact that these pools use huge amounts of electricity.

In an open letter addressed to the EU, Bitcoin mining in Sweden is currently consuming 1 TeraWatt/hour annually. The names include Bjorn Risinger, Director at the Swedish Environmental Protection Agency and Erik Thedeen from the Swedish Financial Supervisory Authority.

It's the equivalent to the amount of electricity required to supply 200,000 homes with electricity. Bjorn Risinger & Erik Thedeen claim that cryptocurrency miners consume the increasing amount of Swedish renewable energy.

"If we were permitted to mine crypto-assets within Sweden, then there is a chance that the renewable energy offered to us will not suffice to meet the necessary climate change," the Swedes wrote in a letter addressed to the EU.

Erik Thedeen, Bjorn Risinger Bjorn Risinger, and Erik Thedeen are both referring to Sweden's climate obligations in the 2015 Paris Agreement.

The climate and cryptocurrency can coexist
Although cryptocurrency is more well-known and discussed than it ever was, it remains controversial as you can hear.

It's an absolute pleasure to metoo to be able to envision the endless possibilities that cryptocurrency has. I'm sure that it's in the future and it will create a lot more headlines in the coming years.

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



Here's my website: https://www.facebook.com/arif.efendi.16906/