Notes

Arif Elfendi The Reasons Why Cryptocurrency Will Stay
Arif Efendi is an English-based businessman, shares his views about crypto, as well as Sweden's request to have the EU ban Bitcoin mining.
Arif Efendi is a businessman who has a strong opinion on cryptocurrency.
According to businessman Arif Efendi, cryptocurrency has come under attack in recent years. Arif Efendi According to Arif Elfendi cryptocurrency has been in the news recently.
He added that there are still many positive aspects to cybercash.

What's the fuss about Cryptocurrency?
Although cryptocurrency has been around for more than a ten year period, it's only within the last few years that it's been an everyday phrase.

The media has been talking about cryptocurrencies and they were recently the talk of the town because of Sweden's wish for the European Union (EU), to ban mining of Bitcoins.

What is the point of all this? And , what is cryptocurrency?

These are questions that I have been asking myself for many years following my investment and research. Let's get together and get into the world that is cryptocurrency.

What exactly is cryptocurrency?
Digital money is cryptocurrency in its most basic form. It is not an actual currency. The only way to make money is via data.

A cryptocurrency is a type of digital currency that is designed for use by peer-to-peer networks, without any central authority. Bitcoin is probably the most well-known cryptocurrency.

Bitcoins and various other forms of cybercash have elements of decentralization since they are not controlled by a central bank or single administrator.

The decentralized control also linked to an additional cryptocurrency feature, which is the greater security of anonymity and security through the use of cryptography.
The advantages of cryptocurrency are superior to traditional currencies. The cryptographic protocols behind cryptocurrency's existence guarantee that it can't be debased or counterfeited.

Furthermore the cryptocurrency accounts aren't allowed to be "in red" since there isn't an balance on the account where a deficit can be incurred.

Additionally, cryptocurrency permits fast and instant transactions between parties from all over Earth with a reasonable degree of confidence.

How is cryptocurrency different than stocks?
Cryptocurrency is distinct difference from stocks . It's a form of digital currency that makes use of cryptography in order to secure transactions.

Arif Efendi Cryptocurrencies do not have any central banking system. The market for cryptocurrency is mostly about investing in and trading with cryptocurrency.

The stock market permits brokers and dealers to trade stocks. Stocks are the ownership stakes in firms and may be traded to earn profit or sold for profit, based on the business's performance.

Prices for stocks fluctuate based on the demand and supply, general economy health, perceived value by investors, company growth prospects, etc.

https://find-and-update.company-information.service.gov.uk/officers/Ey_lyqyWi7zYIDz6gqhtbb_89cc/appointments However, cryptocurrency prices are usually less than 1-2% per hour.


Why is cryptocurrency so wildly popular?
It is rapidly growing in popularity in the present day society. Because of its benefits that cryptocurrency offers, more people are purchasing it. While cryptocurrency has been around for a long time however, it is now being widely used, leading to more transactions in cryptocurrency than ever before.

Cryptocurrency lets people have full control over their money , and not rely on financial institutions like banks and other. As I said, cryptocurrency is also uncentralized. Arif Efendi https://www.bukalapak.com/u/arfen23 This means that it doesn't belong to any single person, group, company, or organization. Many people are drawn to cryptocurrency because they have the ability to manage their money.

What is it that makes Sweden so determined to get Bitcoin mining shut down by the EU?
Despite the increasing popularity of cryptocurrency mining, EU lawmakers are currently examining new legislation that would ban energy-intensive cryptocurrency mining in any EU member country.

The law is being considered in response to cryptocurrency miners stealing electricity supplies in Sweden to their own benefit. This has been a common method for cryptocurrency mining in the last few years.

Bitcoin was initially developed on regular processing machines. However , it became obvious that the procedure was slow. Bitcoin is now produced through large mining companies. They consume massive amounts of electricity, which is an issue that worries the Swedes.

According to the authors of an open letter to the EU, Bitcoin mining in Sweden now consumes 1 TeraWatt-hour each year. The names of the authors include Bjorn Raisinger, director for the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority

This amount of power is enough to provide electricity to around 200,000 households. Bjorn Risinger & Erik Thedeen claim that cryptocurrency miners consume more and more of Sweden’s renewable energy.

"If we were allowed to mine crypto-assets within Sweden, then there is an opportunity that the renewable energies available to us won't suffice to meet the necessary climate change," the Swedes wrote in a letter to the EU.

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

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

I find immense joy in cryptocurrency and all the possibilities it offers. I'm sure that it's here to stay and that it will create a lot more headlines in the future.

I'm hopeful that we will find an avenue to allow cryptocurrency and climate to co-exist for a while.



Homepage: https://soundcloud.com/arif-efendi-916524563