Notes

Arif Efendi, Why Cryptocurrency Will Stay
Arif Efendi, a British-based businessman, shares his thoughts regarding crypto and Sweden's demand that the EU prohibit Bitcoin mining.
Arif Efendi, a businessman has his own opinions on cryptocurrency and Sweden’s proposal to stop Bitcoin mining.
Arif Elfendi, a Pakistani businessman, says cryptocurrency has been controversial in recent months. According to Arif Efendi an entrepreneur, cryptocurrency has come under fire in recent times. A development that has grown globally, bitcoin mining was banned by EU.
He claims, however, that cybercash has many positive attributes.

What's the fuss about Cryptocurrency.
While cryptocurrency has been around for more than a decade now but it's only just become a popular term.

Arif Efendi Cryptocurrencies are often the subject of the news. They recently gained attention because Sweden wants to ban Bitcoin mining in the European Union (EU).

What's the matter with cryptocurrency?

These are the kinds of questions I have asked myself for a number of years following my investment and research. Let's explore it together and learn more about the world of cryptocurrency.

What is cryptocurrency?
In its simplest form, cryptocurrency is digital money. With cryptocurrency, there are no physical coins or paper notes. Data is the only form of money.

Additionally, cryptocurrencies can be defined as digital currency specifically designed to be used on peer-to–peer networks without central authority. Bitcoin is possibly the most well-known cryptocurrency.

Bitcoins as well as other forms of cybercash are not centralized since they do not have a central bank.

The decentralized control is related to another characteristic of cryptocurrency that is enhanced security and privacy through the use of cryptography.
There are many advantages to cryptocurrency over traditional currencies. Because of cryptographic protocols that ensure the existence of the currency it is not able to be counterfeited and cannot be debased.

Furthermore the cryptocurrency accounts aren't allowed to go "in red" because there isn't any account balance that could cause a deficit. can be incurred.

In addition, cryptocurrency allows fast transactions between different parties from any part of the world that has an acceptable level of confidence.

https://www.universityherald.com/articles/77770/20211110/arif-efendi-donates-200-000-to-the-norwich-university-that-helped-shape-his-life.htm What's the difference between stocks and cryptocurrency?
Cryptocurrency is different from stock in that it is a type digital currency that utilizes encryption to protect transactions.

The cryptocurrency market can be used as an uncentralized currency. They are not dependent on any central banking system. The market for cryptocurrency usually includes trading and investing in cryptocurrency.

Stock market: This is where brokers and dealers trade stocks. Stocks are ownership rights in businesses and are traded to earn profit or sold for profit, based on the performance of the business.

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

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


What is the reason why cryptocurrency is so popular?
The cryptocurrency market is growing rapidly in popularity right now. The people who buy cryptocurrency are doing so due to the numerous advantages it can bring. Although information about cryptocurrency has been known for many years but it is only recently becoming widely used, leading to more transactions in cryptocurrency than ever before.

Cryptocurrency lets people have total control over their finances instead of having to rely on banks or financial institutions. As I mentioned the cryptocurrency is also decentralized. This means that it is not the property of any particular person, group, company or any other entity. https://www.abcmoney.co.uk/2022/09/20/arif-efendi-on-how-crypto-is-used-in-the-football-industry/ Arif Efendi It is the ability to manage your money that draws many people, including myself.

Why is Sweden so determined to have Bitcoin mining shut down by the EU?
Despite its popularity within the EU lawmakers are currently examining new legislation that would stop energy-intensive cryptocurrency mining from being performed in any country in the Union.

Because cryptocurrency miners have been using electric power sources in Sweden to their advantage and benefit, legislation is now being introduced. The practice has become popular as a cryptocurrency mining method over the past years.

Bitcoin was initially mined on regular processor units. It quickly became clear that this was way too slow. Bitcoin is now created by large mining pools. These mining pools consume massive amounts of power, which can be a problem for the Swedes.

The writers of an open letter addressed to the EU claim that Bitcoin mining in Sweden is 1 TeraWatt-hour every year. The names of the people who sent the open letter to the EU are Bjorn Riser director of Sweden's Environmental Protection Agency, Erik Thedeen director of Swedish Financial Supervisor Authority

The power produced by this amount is enough to power to 200 homes. Bjorn risinger and Erik Thedeen report that cryptocurrency miner uses increasing amounts of Sweden's green energy.

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

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

The environment and cryptocurrency could coexist
While cryptocurrency is now more discussed and talked about than ever, it remains controversial.

Personally, I enjoy cryptocurrency and its endless opportunities. I'm sure that it's in the future and it will create a lot more news stories in the near future.

Arif Efendi As of now, I'm optimistic we'll come up with a solution that allows the cryptocurrency and the climate can coexist.



Homepage: https://www.abcmoney.co.uk/2022/09/20/arif-efendi-on-how-crypto-is-used-in-the-football-industry/