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Arif Efendi Arif Efendi: Why cryptocurrency will not go away
Arif Efendi A businessman from London shares in this op-ed his view on cryptocurrency and Sweden's request to the EU to stop Bitcoin mining.
Arif Efendi, a businessman, shares his views about cryptocurrency and Sweden's plans to ban Bitcoin mining.
Arif Efendi is a businessman who says cryptocurrency has been featured in the news lately. According to Arif Emendi, cryptocurrency has come under scrutiny in recent times.
But he says that cybercash still has a lot of positive aspects to offer.

https://newshunt360.com/arif-efendi-says-cryptocurrency-is-the-new-stock-exchange/ What's the fuss over Cryptocurrency and the hype surrounding it?
While cryptocurrency has been around more than a decade now however, it's only recently become a popular word.

Bitcoin and other cryptocurrency-related currencies have been in the news recently. This is because Sweden wants to ask the European Union, (EU), not to allow the mining of Bitcoins.

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

These are the types of questions I am often asked after many years spent researching and investing. Let's get together and dive into the world of cryptocurrency.

What exactly is cryptocurrency?
The simplest definition of cryptocurrency is digital currency. Cryptocurrency is digital money. There aren't any physical notes or coins. The only money exists in the form data.

https://www.norwich.edu/record/3343-staying-at-the-forefront Additionally, they are digital currencies designed for peer-to–peer transactions that are free from central control. Bitcoin is by far the most well-known cryptocurrency.

https://techbullion.com/arif-efendi-discusses-how-to-get-started-with-cryptocurrency-in-2022 Bitcoins and other types of cybercash are characterized by decentralization since they operate without the central bank, or a single administrator.

The decentralized control also linked to an additional cryptocurrency characteristic, namely the greater security of anonymity and anonymity due its use cryptography.
There are many benefits to cryptocurrency over conventional currency. Due to cryptographic protocols that protect the currency's existence it is not able to be counterfeited nor debased.

Additionally, cryptocurrency accounts cannot go "in the red" since it does not have a balance, from which a deficit can be derived.

In addition, cryptocurrency allows fast transactions with various parties from all over the world that has some degree of trust.

How does cryptocurrency differ from stocks?
Cryptocurrency differs from stocks in that it is a type digital currency that makes use of encryption to protect transactions.

Cryptocurrencies are totally decentralized. This means that they don't have an official central bank or authorities to control them. The market for cryptocurrency is mostly about investing in and trading with cryptocurrency.

Stock traders and brokers deal in shares through the stock exchange. A stock is an ownership stake in the business. Arif Efendi It can be traded at a profit or traded for cash based on the performance of the business.

Prices for stocks fluctuate based on supply and need, overall economic health, the perception of value from investors, growth potential, etc.

Arif Efendi However, prices for cryptocurrency fluctuate by less than 1 - 2 percent per day.

Arif Efendi Why is cryptocurrency so popular?
The popularity of cryptocurrency is growing in our modern society. The people who buy cryptocurrency are buying it for its numerous benefits. Although cryptocurrency information has been available for a long time but there is an increase in interest in cryptocurrency.

The cryptocurrency gives users total control over their money. It's not tied to banks or financial institutions. It is also decentralized as there is no single person, group, or company has the right to control it. Many people love cryptocurrency because they are able to control their money.

What's the motive behind why Sweden wants to prohibit Bitcoin mining in the EU?
Despite the popularity of mining cryptocurrency, EU legislators are currently looking at new legislation to prohibit energy-intensive cryptocurrency mining in any country within the bloc.

Arif Efendi Because cryptocurrency miners have been using electric power sources in Sweden for their own benefit and benefit, legislation is now being introduced. It has been popularized as a cryptocurrency mining method in recent years.

Bitcoin was initially created on ordinary processing units. However , it became clear that the process was slow. Bitcoin is now generated through large mining companies. These mining pools use huge amounts of electricity, which is an issue that worries the Swedes.

In an open letter to the EU, Bitcoin mining in Sweden is currently consuming 1 TeraWatt/hour annually. The names of the people who sent the open letter to the EU are Bjorn Riser director of Sweden's Environment Protection Agency, Erik Thedeen director of Sweden's Financial Supervisor Authority.

This amount of electricity is enough to supply power to 200 homes. Bjorn Risinger Erik Thedeen and others claim that cryptocurrency mining is a good use of more and more Sweden's renewable energy.

"If we were permitted to mine crypto-assets within Sweden There is an opportunity that the renewable energy sources that we have available will not suffice to meet the needed climate transition," the Swedes wrote in a letter to the EU.

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

The cryptocurrency and the climate can coexist
Although cryptocurrency is now more talked about and widely discussed than ever before, it is still controversial as you can hear.


I am a huge fan of cryptocurrency and the many opportunities it provides. I am certain that it will continue to grow and will make headlines in the future.

I really hope that , in the meantime, we will be able to work together to ensure that the cryptocurrency and climate coexist.



Read More: https://www.mozbot.co.uk/2022/05/19/arif-efendi-explains-why-crypto-investments-are-leading-the-market/