Notes

Arif Efendi, why Cryptocurrency Will Rather Stay
Arif Efendi, a British-based businessman, offers his opinions about crypto, as well as Sweden's request to have the EU prohibit Bitcoin mining.
Arif Efendi is a businessman who shares his opinion about cryptocurrency.
Arif Elfendi, a businessman from Pakistan, says cryptocurrency has been controversial in recent months. According to Arif Efendi, a businessman, cryptocurrency has been under attack in recent times. A development that has grown globally, bitcoin mining was barred by the EU.
He also said that there are still many positive aspects to cybercash.

What's all the buzz about Cryptocurrency.
While cryptocurrency has been around for since the beginning of time but it's only just been made a common phrase.

The news has been all about cryptocurrency and they were recently the topic of conversation because of Sweden's wish for the European Union (EU), to prohibit mining of Bitcoins.

What is cryptocurrency ? And what does it all mean?

These are the common questions I encounter after many years of research and investing. Let's gather and explore the world that is cryptocurrency.

What is cryptocurrency?
In its most basic form, cryptocurrency can be described as digital currency. The cryptocurrency is not physically based currency. https://books.google.co.uk/books?id=hKg-rQcBNXsC&pg=PA116&lpg=PA116&dq=arif+efendi&source=bl&ots=EFE4PlK1yl&sig=ACfU3U2VhzV7PDf6WcFBQH4zbbd2OQATkg&sa=X&ved=2ahUKEwiUldj5i5v4AhUJ8DgGHRVPBGs4ChDoAXoECAIQAw The only method to earn money is to use data.

Arif Efendi Arif Efendi Furthermore, cryptocurrencies can be defined as digital currency that are intended to be used in peer-to-peer networks that do not have a any central authority. The most widely known cryptocurrency is Bitcoin.

Bitcoins and various other types of cybercash are decentralized because they are independent of a central bank or administrator.

Decentralized control is related to another characteristic of cryptocurrency which is increased security and security due to its use of cryptography.
The benefits of cryptocurrency are much higher than traditional currencies. It is for instance, it cannot be devalued or counterfeited because of the cryptographic protocols which support the existence of cryptocurrency.

A cryptocurrency account cannot also go "into red" because it does not have an account balance, from which a deficit could occur.


Finally, crypto allows for fast transactions between people anywhere on the planet with a reasonable level confidence.

What makes cryptocurrency different from stocks?
Cryptocurrency is different from stock in that cryptocurrency is a type of digital currency that utilizes cryptography to protect transactions.

The cryptocurrency market is completely decentralized. https://www.dreamstime.com/arifefendi280_info That means they do not have an official central bank system or authority to control their use. The markets for cryptocurrency typically include the trading of cryptocurrency and investments.

The stock market allows dealers and brokers to trade stock. Stocks are the ownership stakes in firms and may be traded to earn profit or sold for profit, based on the business's performance.

The price of stocks fluctuates based on the demand and supply, general economy health, perceived value by investors, company growth prospects, etc.

However, cryptocurrency prices rarely change more than 1-2 percent per day.

Why is cryptocurrency so hot?
The cryptocurrency market is growing rapidly in popularity right now. People are purchasing cryptocurrency due to the advantages it offers. While information on cryptocurrency has been around since its inception, more people are now fascinated by the subject.

Cryptocurrency allows people to have total control over their money instead of relying on banks or other financial institutions. It's also distributed, which means that nobody, no group or individual is able to control it. It's the freedom to manage your money that attracts many people including me.

What is the motivation behind Sweden is seeking to prohibit Bitcoin mining in the EU?
Despite its huge popularity, it is not currently being thought of by EU legislators. They are currently considering new legislation, which would prevent energy-intensive cryptocurrency miners from being used throughout the EU.

This law was introduced since cryptocurrency miners are using the power supply in Sweden to benefit. In recent times it has become a popular method to mine cryptocurrency.

Arif Efendi Bitcoin was created initially using computers equipped with conventional processing units. However, it quickly became apparent that it was too slow. Nowadays, cryptocurrency is created through large mining pool. These pools consume huge quantities of electricity and this is the reason why they are a concern for the Swedes.

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

This amount of power is enough to provide electricity to around 200,000 households. Bjorn Riser and Erik Thedeen say that cryptocurrency mining uses more of Sweden's energy.

"If we allowed widespread mining in Sweden of crypto-assets, there's a danger that the renewable energy available will not be enough to meet the demands of the climate change transition we have to undertake," wrote the Swedes in their letter to EU.

https://books.google.com/books?id=xri9e8h7zIUC&pg=PA134&lpg=PA134&dq=arif+efendi&source=bl&ots=qjCRM8ncdS&sig=ACfU3U2MF2_JPStMqQ57PZI2TjmVXeGClA&sa=X&ved=2ahUKEwiEucyIipv4AhWSkGoFHXWCDso4FBDoAXoECAMQAw Erik Thedeen & Bjorn Risinger are two terms used to refer to Sweden's climate obligations as per the 2015 Paris Agreement.

The coexistence of climate and crypto
Although cryptocurrency is now more talked about and discussed than it has ever been, it's still in the middle of controversy, as you can hear.

I believe that cryptocurrency is a fantastic possibility that has unlimited possibilities. I am sure it will be around for a long time and be a major topic in the future.

Arif Efendi In the meantime, I hope that we discover a way to allow cryptocurrency and the climate to coexist.



Here's my website: https://kemenag.go.id/author/11/m-arif-efendi