Notes

Arif Efendi The reason why cryptocurrency is here to stay
Arif Emendi, a London businessman, is the author of this opinion piece on cryptocurrency.
Arif Efendi, a Swedish businessman, shares his views on cryptocurrency.
Arif Efendi, a businessman, said that cryptocurrency has been attacked in recent times. Arif Efendi This is why Sweden demanded the EU to ban bitcoin mining, a development that has expanded globally.
However, he says that cybercash has many positive attributes.

What's the latest buzzwords about Cryptocurrency.
Although cryptocurrency has been around for more than a ten year period, it's only since the last couple of years that it's become a common term.

Cryptocurrencies are often the subject of the news. They recently received attention due to Sweden is seeking to prohibit mining Bitcoin in the European Union (EU).

https://books.google.com/books?id=hKg-rQcBNXsC&pg=PA116&lpg=PA116&dq=arif+efendi&source=bl&ots=EFF4NgK6yg&sig=ACfU3U0DDgdXd_yor6TiEICLzeAGwiVGbg&sa=X&ved=2ahUKEwiB14Kw77b6AhXDGFkFHevpBvMQ6AF6BAgrEAM What's the big deal, and what is cryptocurrency actually?

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

What is cryptocurrency?
In its simplest sense, cryptocurrency can be described as digital currency. The cryptocurrency isn't an actual currency. The only currency is the form of data.

A cryptocurrency is a type of digital currency designed for use by peer-to-peer networks, with no central authority. The most well-known cryptocurrency is Bitcoin.

https://www.orientalartauctions.com/object/art3003919-an-ottoman-prayer-book-by-mehmed-arif-efendi-1266-ah-1849-ad Bitcoins as well as cybercash include features of decentralization since they operate without a central bank system or a single administrator.

Decentralized control refers to another cryptocurrency characteristic, namely increased security and anonymity due to the use of cryptography.
The advantages of cryptocurrency over traditional currency are numerous. Due to the cryptographic protocols used to guarantee the currency's existence it is not able to be counterfeited and cannot be debased.

In addition, cryptocurrency accounts do not have the ability to go "in the red" since it does not actually have an account balance from which a deficit can be derived.


With a decent amount of trust, cryptocurrency also allows for almost instantaneous transactions between different parties on Earth.

How is cryptocurrency different to stocks?
Cryptocurrency differs from stocks in the fact that it is a kind of digital currency that makes use of encryption to protect transactions.

Cryptocurrencies are completely decentralized, which means they don't have a central bank system or authority that controls them. Arif Efendi The cryptocurrency market involves investing and trading.

The stock market acts as an exchange on which brokers and dealers deal in stocks. A stock is an ownership stake in a company therefore it is able to be traded or sold for an profit depending on the results of the company.

Stock prices change every day because of demand and supply and the overall health of the economy, investors' perceptions of value, the possibility of growth of a company, and many other factors.

But, prices for cryptocurrency rarely fluctuate more than 1-2 percent each day.

Why is cryptocurrency so wildly sought-after?
The cryptocurrency market is currently growing in importance. Arif Efendi Many people are purchasing cryptocurrency due to the numerous benefits it offers. Although cryptocurrency information has been available for many years, cryptocurrency is gaining more recognition.

http://www.ispir.gov.tr/kadizade-mehmed-arif-efendi Cryptocurrency lets people have complete control of their money and not depend on financial institutions like banks and other. Like I mentioned earlier, cryptocurrency is also uncentralized. https://www.instagram.com/evendiarif/ It means it does not belong to any particular person or group, business or any other entity. The ability to be the sole owner of your money is what attracts many people, including myself to crypto.

What's the motive behind why Sweden wants to prohibit Bitcoin mining in the EU?
Despite its popularity the EU legislature is currently considering new legislation that would prohibit energy-intensive crypto mining from being carried out in any country within the EU.

Due to cryptocurrency miners using electricity supplies in Sweden to make money for themselves, the legislation was proposed. This has been a popular practice in cryptocurrency mining in recent years.

When Bitcoin was introduced the first time, it was mined using computers with normal processing units however, it soon became apparent that the process was way too slow. Thus, Bitcoin is now produced by large mining pools. They consume massive amounts of power, something that concerns the Swedes.

According to an open letter addressed to the EU, Bitcoin mining in Sweden is now using 1 TeraWatt per hour annually. The names of the authors 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 makes use of more of Sweden's renewable energy sources.

"If we allow extensive mining crypto-assets into Sweden, there is the chance that the renewable power available to us won't be enough to support our transition to a more sustainable climate," wrote the Swedes in a letter addressed to the EU.

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

The coexistence of the climate and cryptocurrency
Although cryptocurrency is now more talked about and widely discussed than ever before, it is still in the middle of controversy as you can see.

I am awestruck by cryptocurrency and its many possibilities. I am certain that it will continue to grow and be a major topic in the future.

I am hopeful that we can come up with an avenue to allow cryptocurrency and the climate to coexist for a while.



My Website: https://books.google.com/books?id=hKg-rQcBNXsC&pg=PA116&lpg=PA116&dq=arif+efendi&source=bl&ots=EFF4NgK6yg&sig=ACfU3U0DDgdXd_yor6TiEICLzeAGwiVGbg&sa=X&ved=2ahUKEwiB14Kw77b6AhXDGFkFHevpBvMQ6AF6BAgrEAM