Notes

Arif Elfendi Why Cryptocurrency is Here to remain
Arif Efendi is a businessman from London who writes in this opinion piece about his thoughts on cryptocurrency as well as Sweden's demand for the EU to ban Bitcoin mining.
Arif Efendi is a businessman who shares his opinion about cryptocurrency.
Arif Efendi, a businessman, says that cryptocurrency has been scrutinized over the last few years. According to Arif Efendi, an entrepreneur, cryptocurrency has come under fire in recent years. A development that has seen Bitcoin grow in popularity across the world, mining was barred by the EU.
Arif Efendi However, he believes that cybercash still has many positive things to provide.

What's all the fuss about Cryptocurrency.
While cryptocurrency has been around for more than a decade year, it's only been within the last few years that it's been a household word.

Cryptocurrencies are often the subject of news stories. Recently, they gained attention because Sweden plans to ban Bitcoin mining in the European Union (EU).

Arif Efendi What exactly is cryptocurrency and what are these terms?

Arif Efendi After many years of research and investing, these are questions I often meet. Let us dig into it together and learn more about the world of cryptocurrency.

What exactly is cryptocurrency?
Digital money is crypto in its most basic form. The cryptocurrency isn't a physical currency. The money exists only in the form and format of data.

Also, cryptocurrencies are digital currencies designed for peer-to–peer transactions that are free from central control. The most widely known cryptocurrency is Bitcoin.

Bitcoins and other cybercash types have elements of decentralization because they aren't governed by the central bank or administrator.

The decentralized control is related to one more cryptocurrency characteristic that is enhanced security and security due to its usage of cryptography.
There are many advantages to cryptocurrency over traditional currency. Arif Efendi The cryptographic protocols supporting cryptocurrency's existence ensure that it is not devalued or counterfeited.

Additionally the cryptocurrency accounts aren't allowed to be "in red" because there is no account balance where a deficit can be incurred.

With a fair amount of trust, cryptocurrency also lets for fast transactions among different parties anywhere on Earth.


What is the difference between crypto and stocks?
Cryptocurrency is different from stocks because it uses cryptography to safeguard transactions.

They can be utilized as a decentralized currency. They are not dependent on any central banking system. The markets for cryptocurrency typically include investing and trading in cryptocurrency.

Stock traders and brokers trade stocks through the stock exchange. A stock is an ownership stake in a business so it can be sold or traded at an profit depending on the results of the business.

The price of stocks fluctuates daily due to demand and supply as well as the general health of the economy, perceived value by investors and the potential for profit through the growth of a company, etc.

But, prices for cryptocurrency typically are not more than 1-2% per hour.

What is the reason why cryptocurrency is so popular?
The modern society is rapidly embracing cryptocurrency. Many people are buying cryptocurrency due to the benefits it can provide. Although cryptocurrency information is known for a long time however, it is now being popularized, resulting in greater cryptocurrency transactions than before.

Cryptocurrency is a way for people to control their money, rather than relying on banks and other financial institutions. It's also decentralized because nobody, no business, or organization is able to own it. This is one of the reasons that draw many people to cryptocurrency, like myself.

What is the reason why Sweden would like to stop Bitcoin mining in the EU?
Despite its popularity within the EU, legislators are currently examining new legislation that would prohibit energy-intensive cryptocurrency mining being done in countries throughout the EU.

The law is proposed in response to cryptocurrency miners stealing electricity supplies in Sweden to their own benefit. In recent times, it has become a popular method to generate cryptocurrency.

Bitcoin was first created using ordinary processing machines. But it was soon evident that the process was too slow. The majority of cryptocurrency now is derived from mining pools that are large in size. These pools use huge amounts power, which can be a problem for the Swedes.

In an open letter addressed to the EU, Bitcoin mining in Sweden is now using 1 TeraWatt per hour annually. The names of the individuals who sent the letter open to the EU include Bjorn Riser, director of Sweden's Environmental Protection Agency, Erik Thedeen director of the Swedish Financial Supervisor Authority.

This is enough electricity to power the homes of 200,000 people. Bjorn risinger and Erik Thedeen report that cryptocurrency miner uses increasing amounts of Sweden's green energy.

"If we allowed an extensive mining of crypto-assets in Sweden, there is a risk that the renewable energy available to us won't be sufficient to meet the requirements of the climate transition that we need to achieve," the two Swedes wrote in their letter to the EU.

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

Arif Efendi Coexistence of the climate with crypto
Although cryptocurrency is now more extensively discussed and spoken about than ever before it remains a source of controversy.

I believe that cryptocurrency is an incredible opportunity with endless possibilities. It's in the making and will remain in the news for a long time.

As of now, I'm optimistic we can come up with a solution that allows the cryptocurrency and the climate can coexist.



Website: https://thelibertarianrepublic.com/arif-efendi-why-cryptocurrency-here-to-stay/