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Arif Efendi: Why cryptocurrency is here to stay
Arif Efendi is a businessman from London who shares his views on cryptocurrency and Sweden’s call for the EU's ban on Bitcoin mining.
Arif Efendi, a Swedish businessman, gives his opinion on cryptocurrency.
Arif Efendi is a businessman who says cryptocurrency has been in the news lately. This is why Sweden demanded the EU to prohibit bitcoin mining, a development that has grown globally.
He also said that there are still many positive aspects to cybercash.

What's all the fuss about Cryptocurrency.
While cryptocurrency has been around for a while but the term has only become popular in the last few times.

Bitcoin and other cryptocurrency-related currencies have been in the news lately. https://musescore.com/user/57138201 This is because Sweden would like to ask the European Union, (EU) to stop allowing the mining of Bitcoins.

What's the matter with cryptocurrency?

Arif Efendi These are some of the questions I often get after years of researching and investing. Let's discover the world of cryptocurrency together.

What exactly is cryptocurrency?
In its most basic form, cryptocurrency can be described as digital currency. http://dklada.ru/user/Arif.Efendithfc964/ It is not a physical currency. It is solely as data.

Arif Efendi Furthermore, cryptocurrencies are currencies that are designed to facilitate peer-to-peer transactions that are free from central control. Bitcoin is among the most well-known cryptocurrency.

Bitcoins and other forms of cybercash are decentralized because they don't have a central bank.

Decentralized control is linked to a different characteristic of cryptocurrency, namely enhanced security and security due to its usage of cryptography.
The benefits of cryptocurrency are far superior to traditional currencies. For instance, it is unable to be counterfeited or debased due to the cryptographic protocols that ensure the currency's existence.

https://www.transtats.bts.gov/exit.asp?url=https://find-and-update.company-information.service.gov.uk/officers/Ey_lyqyWi7zYIDz6gqhtbb_89cc/appointments Additionally, cryptocurrency accounts do not have the ability to go "in the red" since cryptocurrency doesn't have a real balance that could cause a deficit. could occur.

In addition, cryptocurrency allows instant transactions between parties anywhere on Earth with a fair amount of confidence.

What makes cryptocurrency different from stocks?
The cryptocurrency differs from stocks in that it's a digital currency that uses encryption to secure transactions.

There is no central bank system. The market for cryptocurrency is mostly focused on investing and trading in cryptocurrency.

The stock market is where dealers and brokers deal in stocks. A stock is an ownership interest in a company and can therefore be traded or sold for profits based on the results of the business.

Arif Efendi Stock prices change every day due to supply and demand and the general health of the economy, investor perceptions of worth, the likelihood of company growth and other factors.

However, cryptocurrency prices rarely fluctuate more than 1-2 percent each day.

What is the reason why cryptocurrency is so popular?
Cryptocurrency is rapidly growing in popularity today. The people who buy cryptocurrency are doing so because of the benefits it can provide. Although information about cryptocurrency has been around since its inception but more people are attracted to it.

Cryptocurrency allows people to have complete control over their money , instead of relying on banks or financial institutions. It's also decentralized, meaning that there is no single person, group, or company has the right to control it. It is the ability to manage your money that draws many people including me.

What is the motivation behind Sweden is seeking to stop Bitcoin mining in the EU?
Despite its ubiquity, the EU legislature is currently considering new legislation which would ban energy-intensive crypto mining from being performed in the countries of the EU.

Because cryptocurrency miners are who are using electricity in Sweden to gain a profit, the legislation has been proposed. This is a well-known method for cryptocurrency mining in recent years.

Arif Efendi When Bitcoin was introduced the first time, it was mined using computers with normal processing units However, it soon turned out that the process was too slow. Nowadays, cryptocurrency is created via large mining pools. These mining pools consume enormous amounts of money and this is the reason it concerns the Swedes.

In an open letter addressed to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt/hour annually. The names of the people who sent the open letter to EU include Bjorn Riser, director of Sweden's Environmental Protection Agency, Erik Thedeen director of the Swedish Financial Supervisor Authority.

This amount of electricity is enough to power approximately 200,000 households. Bjorn Riser and Erik Thedeen say that mining cryptocurrency consumes more energy in Sweden.

In a letter to the EU in which they addressed the EU, the Swedes said that allowing massive mining of crypto-assets in Sweden could lead to insufficient renewable energy to cover the required climate change.

Erik Thedeen (Bjorn Risinger) and Erik Thedeen (Erik Thedeen) refer to Sweden’s climate obligation under the 2015 Paris Agreement.

The cryptocurrency and the climate coexist
Although cryptocurrency is now more widely discussed and debated than ever before in the media however, it's still a subject of controversy.

I am a huge fan of cryptocurrency and all the opportunities it presents. I am certain it will be around for a long time and will make headlines in the future.

I hope that in the meantime we can work together to make the climate and cryptocurrency co-exist.


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