Notes

Arif Efendi, why Cryptocurrency Is Here to Stay
Arif Emendi, a London-based businessman, has contributed to this opinion piece on cryptocurrency.
https://www.librakitap.com.tr/index.php?option=com_content&view=article&id=441&Itemid=105 Arif Efendi a businessman shares his view about cryptocurrency and Sweden's plan to ban Bitcoin mining.
According to businessman Arif Efendi cryptocurrency has been under scrutiny in recent years. According to Arif Efendi a Swedish businessman, cryptocurrency has come being attacked in recent years. This is a development which has increased globally.
He says, however that cybercash has numerous positive aspects.

What's the fuss concerning Cryptocurrency?
Although cryptocurrency has been around for more than a ten year time span, it's only in the last few years that it's been an everyday term.

Recent headlines have focused on cryptocurrencies. https://www.researchgate.net/profile/M-Efendi In recent times, they have become the subject of discussion because Sweden is requesting for the European Union to ban Bitcoin mining.

What is cryptocurrency, and what are these terms?

After many years of studying and investment These are the questions I frequently get asked. Let's all get together and dive into the world of cryptocurrency.

What is cryptocurrency exactly?
In its most basic form, cryptocurrency can be described as digital money. There aren't any physical coins or paper bills that are backed by cryptocurrency. The only method to earn money is via data.

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

Bitcoins and cybercash have features of decentralization since they operate without a central bank system or single administrator.

One more characteristic of cryptocurrency is its centralization of control, which provides enhanced security and anonymity because it uses cryptography.
The benefits of cryptocurrency over traditional currencies are numerous. For example, cryptocurrency cannot be counterfeited or debased because of the cryptographic protocols which support the existence of cryptocurrency.

Additionally, cryptocurrency accounts can't be "in the red" since they do not have a balance in the account.

In addition, it allows fast transactions between people anywhere in the world with a moderate level of confidence.


How is cryptocurrency different from stocks?
The cryptocurrency market is different from stocks in the sense that it's an electronic currency that uses cryptography to protect transactions.

The cryptocurrency market is completely decentralized. This means that they don't have an official central bank or authorities to manage their use. The cryptocurrency market involves investing and trading.

Arif Efendi Dealers and stock brokers trade stocks on the stock market. Stock is a symbol of ownership in an organization, and it can be traded or bought at a profit based upon its performance.

The price of stocks fluctuates daily because of demand and supply, general health of the economy as well as the value that investors perceive, potential for gains through company growth, etc.

But, prices for cryptocurrency rarely vary more than 1-2% a day.

What is the reason why cryptocurrency is so popular?
The cryptocurrency market is currently increasing in popularity. Due to its advantages, people are buying cryptocurrency. Although information about cryptocurrency has been around since the beginning, more people are now fascinated by it.

Cryptocurrency gives people complete control over their finances. It is not tied to banks or financial institutions. As I said it is also decentralized. This means that it doesn't belong to any individual or group, business or any other entity. The ability to be in control of your own money is what draws many people, including me to cryptocurrency.

What's the reason Sweden want to ban Bitcoin mining in the EU to ban Bitcoin mining?
Despite its popularity it is not currently being thought of as a viable option by EU legislators. The EU is currently considering new laws that could stop energy-intensive cryptocurrency miners from being employed throughout the EU.

Due to cryptocurrency miners making use of electricity sources in Sweden for their own gain, the legislation was proposed. This has been a popular practice in cryptocurrency mining in recent years.

Bitcoin was initially mined on regular processor units. It soon became apparent that this was way too slow. Arif Efendi Nowadays, cryptocurrency is created via large mining pools. They consume massive amounts of electricity, which is something that concerns the Swedes.

A letter addressed to EU authors declares that Bitcoin mining in Sweden is now consuming 1 TeraWatt of energy per hour. The names of those who sent the letter open to the EU are Bjorn Riser director of Sweden's Environmental Protection Agency, Erik Thedeen director of the Swedish Financial Supervisor Authority.

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

"If we were to allow the mining of crypto assets in Sweden There is a chance that the amount of renewable energy resources available to us will be insufficient to meet the requirements of the climate transition we'll need to undertake," the two Swedes addressed in their letter to EU.

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

The climate and cryptocurrency can coexist
Although cryptocurrency is now more talked about and talked about than it has ever been, it's still a source of controversy as you can see.

Ipersonally am a huge fan of cryptocurrency and the many opportunities it provides. I'm certain that cryptocurrency is here to stay and that it will create a lot more headlines in the future.

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

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