Notes

Arif Efendi: Why cryptocurrency is here to stay
Arif Efendi is a London-based businessman who shares his views on cryptocurrency, as well as Sweden's request for the EU to ban Bitcoin mining.
Arif Efendi, a businessman, shares his views on cryptocurrency and Sweden’s proposal to ban Bitcoin mining.
Arif Efendi is a businessman who says cryptocurrency has been in the news lately. As a result, Sweden demanded the EU to prohibit bitcoin mining, a development that has expanded globally.
However, he claims that cybercash has a lot of positive qualities to provide.

What's all the buzz about Cryptocurrency.
While cryptocurrency has been around since more than year, it's only been in the last few years that it's been a household phrase.

Recent news stories have focused on cryptocurrencies. In recent times, they became the topic of conversation because Sweden has asked the European Union to ban Bitcoin mining.

What is cryptocurrency and what does it mean?

After many years of research and investing These are the questions I frequently get asked. Let's take a dive together and look into cryptocurrency.

What is cryptocurrency exactly?
https://techbullion.com/arif-efendi-discusses-how-to-get-started-with-cryptocurrency-in-2022 Digital money is crypto in its most basic form. You don't need physical coins or notes to make use of cryptocurrency. The only currency is the form data.

Also, cryptocurrencies are digital currencies that are designed to facilitate peer-to-peer transactions that are free from central control. Bitcoin is the most prominent cryptocurrency.

Bitcoins and other types of cybercash can be considered decentralized because they do not have a central banking institution.


Decentralized control is related to another characteristic of cryptocurrency, namely enhanced security and anonymity due to its usage of cryptography.
https://find-and-update.company-information.service.gov.uk/officers/Ey_lyqyWi7zYIDz6gqhtbb_89cc/appointments There are many advantages to cryptocurrency over traditional currencies. Because of cryptographic protocols it isn't able to be counterfeited or devalued.

A cryptocurrency account can't be "into red" since it does not have a balance on the account, from which a deficit may occur.

Finally, cryptocurrency allows for fast and instant transactions between parties anywhere on Earth with a fair amount of confidence.

What distinguishes cryptocurrency from stocks and how can it be utilized to increase their value?
The cryptocurrency is different from stock by the fact that it is a kind of digital currency that makes use of encryption to protect transactions.

Cryptocurrencies do not have any central bank system. The market for cryptocurrency usually involves trading and investing in cryptocurrencies.

Arif Efendi The stock market permits dealers and brokers to trade stocks. Stock represents ownership of the company and is traded or bought for profit based on its performance.

Stock prices fluctuate each day because of supply and demand as well as the overall health of the economy, perception value by investors potential gains from business expansion, etc.

Arif Efendi However, the prices of cryptocurrency do not fluctuate by more than 1 percent each day.

Why is cryptocurrency so popular?
Cryptocurrency is rapidly gaining popularity in our modern society. Due to its advantages that cryptocurrency offers, more people are purchasing it. While cryptocurrency has been around for years, it has recently been well-known, which has led to more transactions in cryptocurrency than ever before.

Cryptocurrency allows users to take full control over their money , and not rely on banks or other financial institutions. It is also distributed, which means any group, company or individual is able to control it. https://kemenag.go.id/author/11/m-arif-efendi?page=2 The ability to be the sole owner of your money is what draws lots of people, like myself to crypto.

Why is Sweden so determined to have Bitcoin mining shut down by the EU?
Despite the growing popularity of cryptocurrency mining, EU legislators are currently looking at new legislation to prohibit energy-intensive cryptocurrency mining in any member of the bloc.

The law is proposed in response to cryptocurrency miners stealing the power supply in Sweden to benefit themselves. https://twitter.com/arifouo It has been popularized in cryptocurrency mining in the last few years.

Arif Efendi Bitcoin was initially developed on ordinary processing machines. However , it became obvious that the procedure was slow. The majority of cryptocurrency currently is generated by large mining pools. The Swedes are worried by the fact that these mining pools use huge amounts of electricity.

According to the writers of an open letter to the EU, Bitcoin mining in Sweden now consumes 1 TeraWatt-hour per year. The writers include Bjorn Risinger (director of the Swedish Environmental Protection Agency) and Erik Thedeen (director of the Swedish Financial Supervisory Authority).

This electricity is enough to power 200,000 homes. Bjorn Risinger, Erik Thedeen and others affirm that cryptocurrency mining uses the increasing amount of renewable Swedish energy sources.

In a letter sent to the EU in a letter to the EU, the Swedes declared that allowing the extensive mining of cryptoassets by Sweden could lead to a shortage of renewable energy to support the required climate change.

Erik Thedeen & Bjorn Risinger are two terms used to are used to refer to Sweden's climate commitments under the 2015 Paris Agreement.

The coexistence of cryptocurrency and the climate
While cryptocurrency is more popular and talked about than ever before in the media but it's still in the middle of controversy.

I am a huge fan of cryptocurrency and the numerous opportunities it offers. I am sure it will be around for a long time and will make headlines in the future.

While we wait, I'm hoping we can come up with a solution to allow the cryptocurrency and the climate to be in harmony.



Homepage: https://dergipark.org.tr/tr/pub/neuifd/issue/19718/210759