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Arif Efendi - Why Cryptocurrency Is here to stay
Arif Efendi is a businessman from London who writes in this opinion piece about his view on cryptocurrency and Sweden's demand for the EU to prohibit Bitcoin mining.
Arif Efendi is a businessman who has a strong opinion on cryptocurrency.
Arif Efendi businessman Arif Efendi said that bitcoin mining has come under attack in recent years. According to Arif Efendi, cryptocurrency has been scrutinized in recent years.
He also said that there are still numerous positive aspects of cybercash.

What's the fuss about Cryptocurrency.
Although cryptocurrency has existed for more than a decade year time span, it's only since the last couple of years that it has become a household word.

Recent news stories have been focused on crypto. In recent times, they became the subject of discussion because Sweden is requesting the European Union to ban Bitcoin mining.

What's the purpose of all this? And what exactly is cryptocurrency?

https://bitrebels.com/business/crypto-enthusiast-arif-efendi-why-prefer-cryptocurrency-over-stocks/ These are some of the questions I get asked after years of research and investing. Let's look into the world of cryptocurrency together.

What is cryptocurrency?
Digital money is cryptocurrency at its most basic. Cryptocurrency is a form of digital currency. Arif Efendi There aren't any physical notes or coins. The only currency is the form of data.

The cryptocurrency is a digital currency that are able to be used in peer-to-peer networks without central authority. Bitcoin is the most prominent cryptocurrency.

https://www.norwich.edu/record/3343-staying-at-the-forefront Bitcoins, and other types cybercash have features that allow decentralization. They work without the involvement of central banks or a central administrator.


Arif Efendi The decentralized control is linked to an additional cryptocurrency feature, which is the increased privacy and security by using cryptography.
The advantages of cryptocurrency are numerous when compared to traditional currencies. Because of cryptographic protocols it isn't able to be counterfeited and debased.

Additionally, cryptocurrency accounts cannot go "in the red" since it does not actually have an account balance that could cause a deficit. could occur.

In addition, cryptocurrency allows instant transactions between anyone on Earth that are backed by a reasonable amount of trust.

How is cryptocurrency different than stocks?
Cryptocurrency is different from stock in that cryptocurrency is a form of digital currency that utilizes cryptography to protect transactions.

They can be utilized as a decentralized currency. They are not dependent on any central banking system. The cryptocurrency market is primarily about investing in and trading with cryptocurrency.

Stock brokers and dealers deal in stocks on the stock market. Stocks are the ownership stakes in companies and can be traded for profit or resold at a profit based on the business's performance.

Prices for stocks fluctuate every day in response to demand and supply economic health, the perceived worth of investors, as well as the potential benefits from growth of companies.

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

Why is cryptocurrency so popular
Today, cryptocurrency is rapidly increasing in its popularity. The people who buy cryptocurrency are buying it for its numerous benefits. While cryptocurrency has been around for years but it is only recently becoming widely used, leading to more transactions in cryptocurrency than ever before.

The use of cryptocurrency is to allow individuals to manage their money, instead of being dependent on banks or other financial institutions. Like I said earlier, it is also decentralized, which means nobody, no group or company has ownership of it. A lot of people like me are attracted by cryptocurrency because of the capability to control their own finances.

What is the reason why Sweden would like to stop Bitcoin mining within the EU?
Despite the popularity of cryptocurrency mining, EU legislators are currently looking at new legislation that will prohibit energy-intensive cryptocurrency mining in any country within the bloc.

Arif Efendi Since cryptocurrency miners are using electric power sources in Sweden to their benefit the legislation is currently being drafted. It has become a popular method of cryptocurrency mining in the past few times.

Bitcoin was first created using ordinary processing equipment. However , it became clear that the procedure was slow. Nowadays, cryptocurrency is created via large mining pools. These pools consume huge amounts of energy, and this is the reason why they are a concern for the Swedes.

A letter addressed to EU authors declares that Bitcoin mining in Sweden now consumes 1 TeraWatt an hour annually. The names of the writers are Bjorn Risinger director of the Swedish Environmental Protection Agency, and Erik Thedeen, director of the Swedish Financial Supervisory Authority

This amount of power could power around 200,000 homes. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining is consuming more of Sweden's renewable energy.

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

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

The coexistence of cryptocurrency and the climate
Although cryptocurrency is now more widely discussed and talked about than ever before , it is still a subject of debate.

Personally, I find great joy in cryptocurrency and the endless possibilities it offers. I'm sure that it's going to be around for a while and it will make more headlines in the future.

I do hope that , in the meantime, we can collaborate to make the climate and cryptocurrency co-exist.



Website: https://www.newsanyway.com/2021/10/18/arif-efendi-donates-200000-to-norwich-university-as-a-testament-to-its-impact-on-his-life/