Notes

Arif Elfendi The Reasons Why Cryptocurrency Will Stay
Arif Efendi, a London-based businessman is quoted in an op-ed about his thoughts on cryptocurrency as well as Sweden's demand for the EU to ban Bitcoin mining.
Businessman Arif Efendi shares his view about cryptocurrency and Sweden's plans to stop Bitcoin mining.
Arif Efendi is a businessman whose views on cryptocurrency has been in the news recently. This is why Sweden demanded the EU to ban bitcoin mining, a development that has grown globally.
He also claims that cybercash still has lots of positive things to provide.

https://bitrebels.com/business/crypto-enthusiast-arif-efendi-why-prefer-cryptocurrency-over-stocks/ What's all the buzz about? Cryptocurrency.
While cryptocurrency has been around for a while, the term has only become popular in the last few times.

Arif Efendi Recent headlines have been focused on cryptocurrency. Recently, they have become the subject of discussion because Sweden is requesting the European Union to ban Bitcoin mining.

What is cryptocurrency and what does it mean?

These are the types of questions I get asked after years of researching and investing. Let's gather and dive into the world of cryptocurrency.

What exactly is cryptocurrency?
The most basic definition of cryptocurrency is digital currency. Arif Efendi There aren't any physical coins or paper bills using cryptocurrency. Data is the only type of money.

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

Bitcoins and various other kinds of cybercash have features that permit decentralization. They operate without the involvement of a central administrator or bank.

Decentralized control is a reference to another characteristic of cryptocurrency, which is greater security and privacy by using cryptography.
https://www.wonderworldspace.com/arif-efendi-explains-blockchain-and-cryptocurrency/ The advantages of cryptocurrency over traditional currencies. The cryptographic protocols supporting cryptocurrency's existence ensure that it can't be debased or counterfeited.

A cryptocurrency account can't go "into red" because it does not have a balance in the account that could cause a deficit. may occur.

With a fair amount of trust, crypto allows for almost instantaneous transactions between various parties on Earth.

What makes cryptocurrency different from stocks?
Cryptocurrency is different distinction from stock market . It is a kind of digital currency that utilizes cryptography to safeguard transactions.

They are completely decentralized. This means that they don't have an official central bank system or authority to regulate them. The market for cryptocurrency typically includes investing and trading in cryptocurrency.


Brokers and stock traders trade stocks on the stock exchange. Stock represents ownership of an organization, and it is bought or traded with a profit, based on its performance.

Prices for stocks fluctuate every day because of supply and demand economic health, perception of value of investors, and the potential benefits from growth of companies.

However, cryptocurrency prices seldom change more than a couple of percent per day.

Why is cryptocurrency so popular
Cryptocurrency is rapidly gaining popularity in today's society. The benefits of cryptocurrency is the main reason people are investing in it. While cryptocurrency information has been around for a number of years, the cryptocurrency market is now gaining more attention.

Cryptocurrency lets people have total control over their money and not depend on financial institutions like banks and other. It's also distributed, which means no company, group or individual is able to control it. It's the freedom to control your money that draws many people including myself.

Arif Efendi Why is Sweden opposed to Bitcoin mining being banned by the EU
Despite its popularity EU legislators are currently considering new laws that would prohibit energy-intensive cryptocurrency mining from being used in any country in the EU.

The law is proposed in response to cryptocurrency miners stealing the power supply in Sweden to benefit themselves. This has been a popular method for cryptocurrency mining in recent decades.

Bitcoin was initially mined on ordinary processors. It soon became apparent that this was way too slow. So, now, cryptocurrency is generated through big mining pools. They consume huge amounts of electricity which is a concern for the Swedes.

A letter addressed to EU authors states that Bitcoin mining in Sweden currently consumes 1 TeraWatt per hour each year. The names of those who sent the open letter to EU are Bjorn Riser director of Sweden's Environmental Protection Agency. Erik Thedeen director of Swedish Financial Supervisor Authority

The amount of electricity generated could power around 200,000 homes. Arif Efendi Bjorn Riser and Erik Thedeen say that mining cryptocurrency consumes more energy in Sweden.

"If we allowed extensive mining in Sweden of crypto-assets, there is the possibility that the renewable energy sources available will not be sufficient to support the needed climate change that we need to undertake," wrote the Swedes in their letter to EU.

Bjorn Risinger and Erik Thedeen refer to Sweden's obligations in relation to climate under the 2015 Paris Agreement.

The environment and cryptocurrency could coexist
Although cryptocurrency is now more widely discussed and debated than any time in the past in the media but it's still in the middle of controversy.

It's an absolute pleasure to metoo to see the endless possibilities that cryptocurrency has. I am certain it will be around for a long time and make more headlines in future.

While we wait, I hope we can find a way to allow the cryptocurrency and the climate to be in harmony.



Website: https://www.wonderworldspace.com/arif-efendi-explains-blockchain-and-cryptocurrency/