Notes

Arif Efendi - Why Cryptocurrency Is here to stay
Arif Efendi (a London-based entrepreneur) shares his opinion on cryptocurrency and Sweden's call to the EU to prohibit Bitcoin Mining.
Businessman Arif Efendi shares his view regarding cryptocurrency and Sweden's plan to stop Bitcoin mining.
Arif Efendi an entrepreneur, stated that cryptocurrency has been attacked in recent times. According to Arif Emendi cryptocurrency has come under scrutiny in recent years.

He added that there are many positive aspects to cybercash.

What is all the hype concerning Cryptocurrency?
Arif Efendi Although cryptocurrency has been around for over a decade but the term has only been a household word in recent years.

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

Arif Efendi What is all this about, and what is cryptocurrency actually?

These are common questions that I encounter after many years of investing and research. Let's get together and dive into the world of cryptocurrency.

What is cryptocurrency?
Cryptocurrency is simply digital money. There aren't paper notes or physical coins. The only way to make money is to use data.

In addition, cryptocurrencies could be defined as digital currency intended to be used in peer-to-peer networks, without central authority. Bitcoin is the most well-known cryptocurrency.

Bitcoins as well as other forms of cybercash contain elements of decentralization since they are not governed by a central bank or administrator.

The decentralized control is tied to a different characteristic of cryptography: enhanced anonymity and security due to cryptography.
Cryptocurrency offers many advantages over conventional currencies. Arif Efendi Due to the cryptographic protocol, cryptocurrency can't be counterfeited and isn't devalued.

A cryptocurrency account is not able to be "into red" since it does not have an account balance that could cause a deficit. could occur.

Additionally, cryptocurrency permits near-instantaneous transactions between different parties from all over Earth with a certain amount of trust.

How is cryptocurrency different from stocks?
https://techbullion.com/arif-efendi-discusses-how-to-get-started-with-cryptocurrency-in-2022 Cryptocurrency is distinct from stocks . It is a type of digital currency that utilizes cryptography in order to secure transactions.

The cryptocurrency market does not have a central bank system. The market for cryptocurrency involves investing and trading.

Stock brokers and dealers trade stocks on the stock market. A stock is an ownership stake within the company. It can be traded for profit or exchanged for cash depending on the performance of the business.

Stock prices fluctuate each day because of supply and demand, overall economic health as well as the perception of investors about value potential gains from business expansion, etc.

But, prices for cryptocurrency are rarely more than 1-2% per hour.

Why is cryptocurrency so wildly well-liked?
Cryptocurrency is rapidly increasing in popularity in the present. Due to its advantages that cryptocurrency offers, more people are purchasing it. While information about cryptocurrency has been in circulation for some time but there is a sudden surge in interest in cryptocurrency.

Cryptocurrency allows people to have full control over their funds and not be dependent on banks or other financial institutions. As I said it is also decentralized. This means that it is not the property of any individual, group, company or any other entity. A lot of people like me are attracted to cryptocurrency for the possibility of managing their own money.

What is the reason Sweden opposed to Bitcoin mining being prohibited by the EU
Despite its popularity , the EU legislature is currently considering new legislation that would prohibit energy-intensive crypto mining from being conducted in countries within the union.

The legislation is being proposed because cryptocurrency miners are draining the power supply in Sweden to their own benefit. In recent times, it has become a common method to generate cryptocurrency.

Bitcoin was first mined with normal processing units. However, the process proved to be inefficient when it first came out. Bitcoin is now generated by large mining pools. These pools consume huge amounts power, something that concerns the Swedes.

Open letter to EU: Bitcoin mining in Sweden consumes 1 TeraWatt per year, according the authors. The authors' names include Bjorn Raisinger, Director for the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority

This amount of power would be enough to provide electricity to around 200,000 households. Bjorn Riser and Erik Thedeen say that mining cryptocurrency consumes more of Sweden's energy.

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

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

The climate and cryptocurrency can coexist
While cryptocurrency is now more popular and talked about than ever before, it remains controversial as you'll hear.

I have a lot of fun with cryptocurrency and all its possibilities. https://newshunt360.com/arif-efendi-says-cryptocurrency-is-the-new-stock-exchange/ I'm certain that cryptocurrency is in the future and it will create a lot more news stories in the near future.

In the meantime I hope that we can discover a way to allow cryptocurrency and the climate to coexist.



My Website: https://www.norwich.edu/record/3343-staying-at-the-forefront