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Arif Efendi - Why Cryptocurrency is Going to Be Around for the Long Term
Arif Efendi (a London-based entrepreneur) gives his thoughts regarding cryptocurrency, and Sweden's appeal for the EU to ban Bitcoin Mining.
http://Businessman Arif Efendi Shares Insights on Crypto Investment – Reporter Byte Arif Efendi a businessman shares his opinion on cryptocurrency as well as Sweden's proposal for banning Bitcoin mining.
Arif Elfendi, a businessman from Pakistan claims that cryptocurrency has become controversial in recent years. According to Arif Emendi, cryptocurrency has been scrutinized in recent years.
He claims, however, that cybercash has many positive attributes.

What is the hype about Cryptocurrency?
While cryptocurrency has been around for over a decade however, it is only an everyday word in the past few years.

Recent news articles have focused on cryptocurrencies. In recent times, they have become the subject of discussion because Sweden is requesting the European Union to ban Bitcoin mining.

What is cryptocurrency and what does it all mean?

Arif Efendi Arif Efendi These are the types of questions I am often asked after many years spent researching and investing. Let's all get together and dive into the world of cryptocurrency.

What exactly is cryptocurrency?
Digital money is crypto at its most basic. There are no paper bills or physical coins that are backed by cryptocurrency. All money is in the form data.

Arif Efendi Additionally, they are digital currencies designed for peer-to–peer transactions that are not subject to central control. Bitcoin is by far the most popular cryptocurrency.

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

The decentralized control also related to an additional cryptocurrency characteristic, namely the increased security of anonymity and anonymity through the use of cryptography.
The advantages of cryptocurrency are far superior to traditional currencies. Because of cryptographic protocols that guarantee the currency's existence it is not able to be counterfeited nor debased.

Additionally, cryptocurrency accounts do not have the ability to go "in the red" since it does not actually have an account balance that could cause a deficit. could be created.

Additionally, cryptocurrency permits instant transactions between anyone on Earth that are backed by a reasonable amount of confidence.

What is the difference between cryptocurrency and stocks?
The cryptocurrency market is different from stock in the sense that it is a type of digital currency that makes use of cryptography to secure transactions.

The cryptocurrency market does not have a central banking system. The market for cryptocurrency is principally about cryptocurrency trading and investing.

Stock market: This is the place where dealers and brokers trade stocks. Stocks are the ownership stakes in businesses and are traded at a profit or resold at a profit depending upon the business's performance.

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

But, the prices of cryptocurrency rarely fluctuate more than percent every 24 hours.

Why is cryptocurrency so popular
The modern society is rapidly embracing cryptocurrency. The advantages that cryptocurrency provides are why investors are making investments in it. While information on cryptocurrency has been in circulation since its inception but more people are fascinated by it.

Cryptocurrency is a way for people to control their money, rather than having to rely on banks and other financial institutions. Arif Efendi It's also decentralized because there is no single person, group, or company can own it. It is the ability to manage your money that entices many people like me.

What is it that makes Sweden so determined to get Bitcoin mining shut down by the EU?
Despite its growing popularity in the EU legislators are looking at new legislation to prohibit energy-intensive cryptocurrency mining being done in countries throughout the Union.

The legislation is being proposed because cryptocurrency miners are draining energy sources in Sweden for their own gain. This has been a common method of mining cryptocurrency in recent decades.


Bitcoin was created initially using computers that had standard processing units. But, it soon became evident that it was too slow. So, now, cryptocurrency is produced by large mining pools. These pools consume huge amounts and this is the reason it is a concern for the Swedes.

Open letter to EU authors states that Bitcoin mining in Sweden is now consuming 1 TeraWatt an hour annually. The names of the authors are Bjorn Raisinger, director for the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority

This is the equivalent amount of power needed to supply 200,000 homes with energy. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining is consuming more of Sweden's renewable energy sources.

"If we were permitted to mine cryptoassets in Sweden and the EU, there's an opportunity that the renewable energies available to us won't be sufficient to cover the necessary climate change," the Swedes wrote in a letter to the EU.

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

Climate and cryptocurrency coexist
Although cryptocurrency is more widely discussed and well-known than ever before, it remains controversial as you can hear.

I believe that cryptocurrency is a fantastic opportunity with endless possibilities. Arif Efendi I'm sure that it's in the future and it will generate many more headlines in the coming years.

I'm hopeful that we will find a way to allow the cryptocurrency and climate to coexist in the interim.



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