Notes

Arif Efendi, why Cryptocurrency Will Rather Stay
Arif Efendi is a London-based businessman who is a vocal advocate for cryptocurrency and Sweden’s call for the EU to ban Bitcoin mining.

Arif Efendi a businessman shares his opinion on cryptocurrency as well as Sweden's plans to ban Bitcoin mining.
Arif Efendi businessman Arif Efendi said that bitcoin mining has come under attack in recent years. According to Arif Efendi an entrepreneur cryptocurrency has come under scrutiny in recent times. A development that has grown globally, bitcoin mining was barred by the EU.
Arif Efendi He claims, however, that cybercash has numerous positive benefits.

What is the hype about Cryptocurrency?
Even though cryptocurrency has been around for over a decade, it's only in the last few years that the term is now a common term.

Cryptocurrencies often make the front of headlines. Arif Efendi https://techbullion.com/arif-efendi-discusses-how-to-get-started-with-cryptocurrency-in-2022 Arif Efendi Recently, they gained attention because Sweden is seeking to prohibit mining Bitcoin in the European Union (EU).

What's the issue with cryptocurrency?

https://bitrebels.com/business/crypto-enthusiast-arif-efendi-why-prefer-cryptocurrency-over-stocks/ After many years of research and investments this is a question I frequently get asked. Let's dig in together and learn more about the realm of cryptocurrency.

What exactly is cryptocurrency?
Cryptocurrency is simply digital money. There aren't any paper notes or physical coins. The only way to make money is to use data.

Furthermore, cryptocurrencies are types of digital currencies designed for usage on peer-to-peer networks without central authority. Bitcoin is the most popular cryptocurrency.

Bitcoins as well as other forms of cybercash, have elements that permit decentralization. They operate without the interference of central bank or administrator.

The decentralized control is connected to one more cryptocurrency characteristic, namely enhanced security and security due to its use of cryptography.
Arif Efendi The advantages of cryptocurrency over traditional currency are numerous. For example, cryptocurrency cannot be counterfeited or debased because of the cryptographic protocols that ensure the currency's existence.

In addition, cryptocurrency accounts cannot be "in the red" since they don't have a balance on their accounts.

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

What makes cryptocurrency different from stocks and how can it be utilized to boost their value?
The cryptocurrency market is distinct from stocks in the sense that it's an electronic currency that utilizes cryptography to secure transactions.

Cryptocurrencies have no central banking system, and are not centralized. The market for cryptocurrency is mostly about cryptocurrency trading and investing.

The stock market is where brokers and dealers exchange stocks. Stock represents ownership in the company and can either be traded or purchased at a profit based upon its performance.

Stock prices fluctuate due to the demand and supply, general economy health, perceived value from investors, growth potential, etc.

However, the price of cryptocurrency fluctuates less than 1-2% each day.

Why is cryptocurrency so wildly popular?
Nowadays, the world is rapidly adopting cryptocurrency. Arif Efendi People are purchasing cryptocurrency due to the advantages it provides. Although cryptocurrency information has been around for years but there is an increase in interest in cryptocurrency.

Cryptocurrency allows users to take complete control of their money and not depend on financial institutions like banks and other. As I said, cryptocurrency is also decentralized. It means it is not the property of any individual or group, corporation, or organization. Many of us are attracted by cryptocurrency because of the capability to control their personal finances.

What's the reason Sweden wish to see EU ban Bitcoin mining?
Despite its popularity the EU legislative body is currently examining new legislation which would ban cryptocurrency mining that is energy intensive from being carried out in any country within the union.

The legislation is being proposed because cryptocurrency miners are draining the power supply in Sweden to benefit themselves. It has become a common method of mining cryptocurrency in recent time.

When Bitcoin was introduced, it was mined on machines that had normal processing units however, it soon was discovered that the method was way too slow. Consequently, cryptocurrency is now produced by huge mining pools. These pools use huge amounts electricity which is a concern for the Swedes.

Open letter to the EU: Bitcoin mining in Sweden consumes 1 TeraWatt per year, according to the authors. https://www.librakitap.com.tr/index.php?option=com_content&view=article&id=441&Itemid=105 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

This is about the same amount of electricity needed to provide 200,000 households with energy. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining uses more and more of Sweden's renewable energy.

"If we were to allow extensive mining of crypto-assets in Sweden There is a risk that the renewable energy available to us will be insufficient to support the necessary climate transition we'll need to undertake," the two Swedes sent in their letter to EU.

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

Coexistence of the climate and crypto
While cryptocurrency is becoming more well-known and talked about than it has ever been, it is still a source of controversy as you can hear.

Arif Efendi I am a huge supporter of cryptocurrency and all the opportunities it offers. I am certain it will stay around and will make headlines in the future.

As of now, I'm hoping we'll be able to come up with a solution that allows the environment and cryptocurrency can coexist.



My Website: https://www.instagram.com/arifefendi165/