Notes

Arif Efendi The reason why cryptocurrency is here to stay
Arif Efendi A businessman from London writes in this opinion piece about his thoughts on cryptocurrency as well as Sweden's demand to the EU to stop Bitcoin mining.
Businessman Arif Efendi shares his view on cryptocurrency and Sweden's proposal to stop Bitcoin mining.
Arif Efendi Arif Elfendi businessman from Pakistan claims that cryptocurrency has become controversial in recent months. According to Arif Emendi cryptocurrency has been scrutinized in recent years.
But he says that cybercash still has many positive things to provide.

What's all the buzz about? Arif Efendi Cryptocurrency.
Arif Efendi While cryptocurrency has been around for longer than a decade, it has only recently been made a common phrase.

Recent news articles have been focused on crypto. In recent times, they have become the topic of conversation because Sweden is asking for the European Union to ban Bitcoin mining.


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

These are some of the questions I often get after years of researching and investing. Let's discover the world of cryptocurrency together.

Arif Efendi What is cryptocurrency?
In its simplest form it can be described as digital currency. Cryptocurrency is digital money. There aren't physical notes or coins. Arif Efendi The only way to make money is to use data.

Additionally, cryptocurrencies can be defined as digital currency intended to be used in peer-to-peer networks, without central authority. Bitcoin is probably the most widely-known cryptocurrency.

Bitcoins as well as other kinds of cybercash have elements of decentralization, as they do not have the central bank, or a single administrator.

Decentralized control refers to another characteristic of cryptocurrency, which is the increased security and anonymity by using cryptography.
The advantages of cryptocurrency are numerous compared to traditional currency. Cryptocurrency is not easily counterfeited or devalued due to the cryptographic protocols that ensure its existence.

A cryptocurrency account is not able to go "into red" because it does not have a balance on the account and a deficit could occur.

Finally, cryptocurrency allows near-instantaneous transactions with various people from around the world that has a reasonable degree confidence.

How is cryptocurrency different from stocks?
The cryptocurrency differs from stocks in that it is a type digital currency that utilizes encryption to protect transactions.

There is no central banking system. The market for cryptocurrency usually involves cryptocurrency investing and trading.

The stock market permits dealers and brokers to trade stocks. Stock represents ownership in an organization, and it can be traded or purchased for profit based on its performance.

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

Arif Efendi However, cryptocurrency prices rarely vary more than 1-2% a day.

What is the reason why cryptocurrency is so hot?
http://Businessman Arif Efendi Shares Insights on Crypto Investment – Reporter Byte The demand for cryptocurrency in today's society is increasing rapidly. Because of its benefits that cryptocurrency offers, more people are purchasing it. While information on cryptocurrency has been available since the beginning, more people are now fascinated by the subject.

Cryptocurrency gives people complete control over their money. It's not dependent on banks and financial institutions. It's also distributed, which means that nobody, no group or individual is able to control it. Many people like me are drawn to cryptocurrency due to the capability to control their own money.

Why is Sweden opposing Bitcoin mining being banned by the EU
Despite its popularity it isn't currently being considered by EU lawmakers. They are currently examining the possibility of introducing legislation that would hinder energy-intensive cryptocurrency miners being carried out across the EU.

This legislation was proposed since cryptocurrency miners are using the electricity supply in Sweden to benefit. In recent years, it has become a popular method to mine cryptocurrency.

Bitcoin was first mined using normal processing units. However this process proved to be slow when it was first introduced. Nowadays, cryptocurrency is created via large mining pools. The Swedes are worried by the fact that these pools use huge amounts of electricity.

Open letter to EU authors claims that Bitcoin mining in Sweden now consumes 1 TeraWatt of energy per hour. The authors are Bjorn Risinger (director of the Swedish Environmental Protection Agency) and Erik Thedeen (director of the Swedish Financial Supervisor Authority).

This amount of electricity can power up to 200,000 homes. Bjorn Riser and Erik Thedeen say that cryptocurrency mining uses more energy in Sweden.

"If we allowed extensive mining in Sweden of crypto-assets, there is an opportunity that the renewable energy available will not be enough to support the needed climate transition that we have to undertake," wrote the Swedes in their letter to the EU.

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

The cryptocurrency and the climate can coexist
While cryptocurrency is more extensively discussed and spoken about than ever before it remains a source of controversy.

I am a huge supporter of cryptocurrency and all the opportunities it presents. It's here for a long time, and I believe it will be the subject of a lot of news in the near future.

I'm hoping that we can come up with an avenue to allow cryptocurrency and climate to coexist for a while.



Here's my website: https://www.mozbot.co.uk/2022/05/19/arif-efendi-explains-why-crypto-investments-are-leading-the-market/