Notes

Arif Efendi - Why Cryptocurrency is Going to Be Around for the Long Term
Arif Efendi, a London-based businessman writes in this opinion piece about his view on cryptocurrency and Sweden's call for the EU to ban Bitcoin mining.
Arif Efendi, a Swedish businessman, shares his thoughts about cryptocurrency.
Arif Elfendi, a businessman from Pakistan, says cryptocurrency has been controversial in recent times. According to Arif Efendi an entrepreneur cryptocurrency has come under fire in recent years. A development that has seen bitcoin grow globally, mining was banned by the EU.
However, he claims that cybercash is still a great option, with many positive aspects.

What's all the hype about Cryptocurrency?
Although cryptocurrency has existed for over a decade, it is only in the last few years that it has become a household name.

Recent news articles have been focused on crypto. Recently, they have become the subject of discussion because Sweden is asking the European Union to ban Bitcoin mining.

What's the issue with cryptocurrency?

Arif Efendi These are the kinds of questions I am often faced with in the course of my investment and research. Let's get together and dive into the world that is cryptocurrency.


What is cryptocurrency?
The most straightforward definition of cryptocurrency is digital currency. Cryptocurrency is a form of digital currency. There aren't physical notes or coins. The only way to earn money is through data.

A cryptocurrency is a form of digital currency that is intended for use in peer-to-peer networks, with no central authority. Bitcoin is the most popular cryptocurrency.

https://www.instagram.com/arif_efendi07/ Bitcoins and various other types of cybercash are decentralized because they are independent of an administrator or central bank.

The decentralized control is linked to an additional cryptocurrency attribute, which is the enhanced privacy and security by using cryptography.
There are many advantages to cryptocurrency over traditional currencies. Cryptocurrency is not easily counterfeited or devalued because of the protocols for cryptography that guarantee its existence.

In addition, cryptocurrency accounts cannot fall "into the red" because it doesn't have an account balance that could create a deficit.

Finally, cryptocurrency allows near-instantaneous transactions with various people from around the globe that have some degree of trust.

What's the difference between stocks and cryptocurrency?
Cryptocurrency is distinct from stocks because it uses cryptography to protect transactions.

Cryptocurrencies are totally decentralized. This means that they do not have an official central bank system or authority to control them. Arif Efendi The market for cryptocurrency usually involves investing and trading in cryptocurrency.

The stock market is where dealers and brokers trade stocks. https://pariwisata.batukota.go.id/node/13745 A stock is an ownership interest in the company. It is traded at a profit , or traded for cash based on the performance of the business.

Stock prices fluctuate every day due supply and demand and the general health of the economy, the perception of investors of value, the potential for expansion of the company and many other variables.

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

What is the reason why cryptocurrency is so popular?
The popularity of cryptocurrency is increasing quickly. The benefits that cryptocurrency offers are the reason why people are investing in it. Although cryptocurrency information has been in circulation for some time in the past, there's been an increase in interest in cryptocurrency.

Cryptocurrency allows people to have complete control over their money instead of relying on banks and financial institutions. Arif Efendi As mentioned earlier, it is also decentralized, meaning no person, group or company has ownership of it. The ability to manage your money that draws many people including myself.

What's the reason Sweden want the EU to ban Bitcoin mining?
Despite its popularity in the EU lawmakers are currently studying new legislation that will prohibit energy-intensive cryptocurrency mining being done in countries throughout the union.

Due to cryptocurrency miners making use of electricity sources in Sweden to gain a profit The legislation has been proposed. It is a well-known way to mine cryptocurrency in recent years.

When Bitcoin was introduced, it was mined on computer systems that were able to process normal data however, it soon turned out that the method was too slow. Most cryptocurrency today comes from large mining pools. These pools consume huge amounts and that's why it's a problem for the Swedes.

According to an open letter addressed to the EU, Bitcoin mining in Sweden is currently consuming 1 TeraWatt/hour per year. The names of the writers are Bjorn Risinger director of the Swedish Environmental Protection Agency, and Erik Thedeen, director of the Swedish Financial Supervisory Authority

This will power the power of 200,000 homes. Bjorn Riser and Erik Thedeen say that cryptocurrency mining uses more energy in Sweden.

"If we allow extensive mining in Sweden of crypto-assets, there's an opportunity that the renewable energy available is not enough to cover the necessary climate change that we need to complete," wrote the Swedes 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 widely discussed and debated than ever before in the mainstream media but it's still in the middle of controversy.

I am awestruck by cryptocurrency and all its possibilities. I'm certain that cryptocurrency is going to be around for a while and it will generate many more headlines in the future.

I am hopeful that we can come up with a way to allow the cryptocurrency and climate to coexist for a while.

Arif Efendi

Homepage: https://books.google.co.uk/books?id=hKg-rQcBNXsC&pg=PA116&lpg=PA116&dq=arif+efendi&source=bl&ots=EFE1PiM6Fg&sig=ACfU3U1H0r7VB5LXeMcby-QasJsrs44N3g&sa=X&ved=2ahUKEwimnf3v_cL3AhUkJTQIHeZaBV44ChDoAXoECAIQAw