Notes

Arif Efendi, Why Cryptocurrency Will Rather Stay
Arif Efendi is a businessman from London who writes in this opinion piece about his views on cryptocurrency and Sweden's call to 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, a businessman, claims that cryptocurrency has come under scrutiny in recent years. According to Arif Efendi, cryptocurrency has come under scrutiny in recent years.
He added that there are still numerous positive aspects of cybercash.

What's the fuss about? Cryptocurrency.
While cryptocurrency has been around longer than a decade but it's only just become a popular phrase.

Cryptocurrencies are frequently the subject of the news. They recently gained attention because Sweden plans to ban mining Bitcoin within the European Union (EU).

What's the significance of this? And what exactly is cryptocurrency?

These are some of the questions I get asked after years of researching and investing. Let's get together and explore the world that is cryptocurrency.

What exactly is cryptocurrency?
At its simplest it is a digital currency. The cryptocurrency isn't an actual currency. The money exists strictly as data.

Also, cryptocurrencies are digital currency designed for peer-to-peer transactions that are free from central control. Bitcoin is possibly the most well-known cryptocurrency.

Bitcoins and other types of cybercash can be considered decentralized because they do not have a central bank.

The decentralized control is related to another characteristic of cryptocurrency that is enhanced security and privacy due to its use of cryptography.
The advantages of cryptocurrency over traditional currency are numerous. The cryptographic protocols supporting the existence of cryptocurrency ensure that it can't be debased or counterfeited.


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

Finally, cryptocurrency allows near-instantaneous transactions between different parties from all over the world that has some degree of trust.

Arif Efendi How is cryptocurrency different than stocks?
Cryptocurrency has a distinct difference from stocks . It is a kind of digital currency that makes use of cryptography to safeguard transactions.

They can be utilized as an uncentralized currency. They are not tied to any central bank system. The cryptocurrency market typically involves cryptocurrency trading and investing.

Dealers and stock brokers trade stocks on the stock market. A stock is an ownership stake within the company. It is traded at a profit or exchanged for cash depending on the performance of the business.

The price of stocks fluctuates daily because of supply and demand economic health, the perceived worth of investors, as well as the potential benefits from growth of companies.

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

What is the reason why cryptocurrency is so hot?
Today's society is quickly embracing cryptocurrency. Due to its advantages many people are now buying cryptocurrency. Although cryptocurrency information has been available for a long time but there is a sudden surge in the interest in cryptocurrency.

Cryptocurrency allows people to have the ability to control their money in full instead of relying on financial institutions like banks and other. Like I said earlier, it is also decentralized, which means nobody, no group or corporation is the owner of them. Arif Efendi This is one of the reasons that draw many people to cryptocurrency, including me.

Why does Sweden want to ban Bitcoin mining in the EU to prohibit Bitcoin mining?
Despite its popularity EU lawmakers are currently examining new legislation that would bar mining that uses energy to be implemented in all countries of the union.

Arif Efendi Due to cryptocurrency miners using electricity supplies in Sweden for their own gain Legislation has been proposed. This is a very popular method to mine cryptocurrency in the last few years.

Bitcoin was first created using normal processing units. However it soon became obvious that the procedure was too slow. Today, cryptocurrency is produced via large mining pools. These pools use huge amounts energy, which poses a threat for the Swedes.

The authors of an open letter to the EU claim that Bitcoin mining in Sweden utilizes 1 TeraWatt per year. The names of those who sent the letter open to the EU are Bjorn Riser director of Sweden's Environment Protection Agency, Erik Thedeen director of Sweden's Financial Supervisor Authority.

This electricity is enough to power 200,000 homes. Arif Efendi According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining is consuming more of Sweden's renewable energy.

"If we were permitted to mine crypto-assets in Sweden, then there is a chance that the renewable energy sources that we have available will not suffice to support the needed climate transition," the Swedes wrote in a letter to the EU.

Erik Thedeen & Bjorn Risinger are two terms that refer to Sweden's climate obligations in accordance with the 2015 Paris Agreement.

The coexistence of cryptocurrency and the climate
Although cryptocurrency is more widely discussed and well-known than it ever was but it's still controversial as you can tell.

It is a joy to metoo to look at the infinite possibilities that cryptocurrency has. It's here to stay, and I'm sure it'll make a lot of headlines within the next few years.

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



My Website: http://www.ispir.gov.tr/kadizade-mehmed-arif-efendi