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Arif Efendi - Why Cryptocurrency Is Here to Stay
Arif Emendi from London, a businessman, contributes to this opinion piece on cryptocurrency.
Arif Efendi, a businessman, shares his views regarding cryptocurrency and Sweden's plan to stop Bitcoin mining.
Arif Elfendi, a Pakistani businessman claims that cryptocurrency has become controversial in recent times. According to Arif Efendi, who is a Swedish businessman, cryptocurrency has been attacked in recent times. This is a trend that has accelerated across the globe.
https://www.orientalartauctions.com/object/art3003919-an-ottoman-prayer-book-by-mehmed-arif-efendi-1266-ah-1849-ad He also said that there are still numerous positive aspects of cybercash.

What's the fuss about Cryptocurrency and the hype surrounding it?
Although cryptocurrency has been in existence for more than a decade, the term has only been popular in the last few times.

The cryptocurrency market has often been the subject of headlines and were recently the talk of the town because Sweden would like to ban the European Union (EU) to ban the mining of Bitcoins.

https://www.istanbulsanatevi.com/category/sanatcilar/soyadi-a/arif-efendi/ Arif Efendi What's the big deal, and what is cryptocurrency actually?

These are the questions I have been asking myself for many years after investing and researching. Let's take a dive together and look into cryptocurrency.

What exactly is cryptocurrency?
At its simplest it is a digital currency. It is not an actual currency. The only money exists in the form data.

Furthermore, cryptocurrencies are types of digital currencies developed for use on peer-to peer networks devoid of central authority. Bitcoin is by far the most well-known cryptocurrency.

Bitcoins and cybercash have aspects of decentralization because they work without a central bank system or a single administrator.

Another characteristic of cryptocurrency is its decentralized control, which is increased security and privacy due to the use of cryptography.
The benefits of cryptocurrency are much higher than traditional currencies. For instance, it is unable to be debased or counterfeited because of the cryptographic protocols that support the existence of cryptocurrency.

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

In addition, it allows quick transactions between any person on the planet with a acceptable level of confidence.

Arif Efendi What makes cryptocurrency different from stocks? How can it be utilized to make them more valuable?

Cryptocurrency is different from stocks because it uses cryptography to safeguard transactions.

The cryptocurrency market does not have a central banking system. The market for cryptocurrency usually includes investing and trading in cryptocurrency.

Stock market: This is where brokers and dealers trade stocks. A stock represents an ownership interest in a company and can therefore be traded or sold at profits based on the results of the business.

Prices for stocks fluctuate daily due to supply and demand in addition to the overall health of an economy, investors' perceptions of value, the potential for company growth and other factors.

However, cryptocurrency prices are rarely more than 1-2% per day.

https://priceofbusiness.com/businessman-arif-efendi-on-crypto-investment/ Why is cryptocurrency so wildly popular?
Cryptocurrency is rapidly growing in popularity today. Due to its advantages that cryptocurrency offers, more people are purchasing it. While information about cryptocurrency has been around for years but there is an unexpected increase in interest in cryptocurrency.

Cryptocurrency is a way for individuals to manage their money, instead of being dependent on banks or other financial institutions. It's also decentralized which means that no single person business, organization or group owns the power to control it. This is what attracts many people to cryptocurrency, including myself.

What is the reason Sweden want to see the EU prohibit Bitcoin mining?
Despite its popularity , the EU legislature is currently looking at new legislation which would ban cryptocurrency mining that is energy intensive from being conducted in countries within the Union.

The legislation was enacted due to the fact that cryptocurrency miners were utilizing electricity to benefit themselves in Sweden. In recent times, it has become a popular method to generate cryptocurrency.

Bitcoin was initially developed on ordinary processing machines. However , it became clear that the process was slow. The majority of cryptocurrency now is generated by large mining pools. Arif Efendi They consume massive amounts of power, an issue that worries the Swedes.

The authors of an open letter to the EU claim that Bitcoin mining in Sweden uses 1 TeraWatt-hour per year. The names are Bjorn Risinger, Director of the Swedish Environmental Protection Agency and Erik Thedeen from the Swedish Financial Supervisor Authority.

It is enough power to power the homes of 200,000 people. Bjorn risinger as well as Erik Thedeen report that cryptocurrency mining companies are using increasing amounts of Sweden's green energy.

"If we were permitted to mine cryptoassets in Sweden and the EU, there's an possibility that the renewable energies available to us won't be sufficient to cover the climate change that is required," the Swedes wrote in a letter to the EU.

Erik Thedeen & Bjorn Risinger are two terms that refer to Sweden's climate obligations under the 2015 Paris Agreement.

The environment and cryptocurrency could coexist
While cryptocurrency is becoming more widely discussed and debated than any time in the past in the media, it is still controversial.

I believe that cryptocurrency is an amazing opportunity with unlimited possibilities. I'm certain that cryptocurrency is here to stay and that it will generate many more news stories in the near future.

https://www.librakitap.com.tr/index.php?option=com_content&view=article&id=441&Itemid=105 In the meantime, I'm hoping we can find a way for cryptocurrency and the environment to be able to coexist.



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