Notes

Arif Efendi Arif Efendi: Why cryptocurrency will not go away
Arif Emendi, a London-based businessman, contributes to this piece of advice on cryptocurrency.
Arif Efendi Arif Efendi, a businessman, shares his views about cryptocurrency and Sweden's plans to prohibit Bitcoin mining.

Arif Efendi is a businessman who says cryptocurrency has been in the news recently. https://foursquare.com/v/arif-efendi/528bca16498ec64f87dca04e This is why Sweden has urged the EU to prohibit bitcoin mining, a development that has grown globally.
He claims, however, that cybercash has numerous positive aspects.

What's all the fuss about? Cryptocurrency.
Although cryptocurrency has been around for over a decade, it's only recently that it is now a common term.

Recent news articles have focused on cryptocurrencies. In recent times, they have become the focus of discussion due to Sweden is asking for the European Union to ban Bitcoin mining.

https://twitter.com/arifouo What is all this about, and what is the actual meaning of cryptocurrency?

After years of study and investment, these are questions I frequently get asked. Let's get to it together, and discover the universe of crypto.

What is cryptocurrency?
The cryptocurrency is essentially digital money. With cryptocurrency, there aren't any physical coins or paper notes. The only method to earn money is via data.

Furthermore, cryptocurrencies are types of digital currency designed for use on peer-to peer networks devoid of central authority. Bitcoin is possibly the most widely-known cryptocurrency.

Bitcoins and other cybercash types have elements of decentralization because they aren't governed by a central bank or administrator.

The decentralized control also linked to an additional cryptocurrency characteristic, namely the enhanced privacy and security due its use cryptography.
There are many advantages to cryptocurrency over traditional currencies. The cryptographic protocols supporting the existence of cryptocurrency ensure that it is not devalued or counterfeited.

Additionally, cryptocurrency accounts can't be "in the red" since they do not have a balance in the account.

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

What's the difference between cryptocurrency and stocks?
Cryptocurrency has a distinct distinction from stock market . It is a form of digital currency that makes use of cryptography in order to secure transactions.

Cryptocurrencies do not have any central banking system. The market for cryptocurrency involves trading and investing.

Stock traders and brokers deal in shares through the stock exchange. Stocks represent ownership stake in a company and can therefore be traded or sold at profits based on the results of the business.

Arif Efendi Stock prices change every day due to supply and demand in addition to the overall health of an economy, investors' perceptions of worth, the likelihood of expansion of the company and many other variables.

Arif Efendi However, prices for cryptocurrency do not fluctuate by more than 1-2 percent every 24 hours.

Why is cryptocurrency so popular?
The modern society is rapidly embracing cryptocurrency. Many people are purchasing cryptocurrency due to the many benefits it provides. Although cryptocurrency information has been around for years in the past, there's been a sudden surge in interest in cryptocurrency.

Cryptocurrency is a way for people to manage their money, instead of relying on banks and other financial institutions. Like I mentioned earlier, cryptocurrency is also decentralized. It means it doesn't belong to any particular person or group, business or any other entity. This is what attracts many individuals to cryptocurrency, including myself.

Why is Sweden so determined to have Bitcoin mining shut down by the EU?
Arif Efendi Despite its widespread popularity, cryptocurrency is not being taken into consideration as a viable option by EU lawmakers. They are currently looking into new legislation, which would stop energy-intensive cryptocurrency miners from being employed across the EU.

This law was introduced due to the fact that cryptocurrency miners use the power grid in Sweden to their advantage. This has been a popular practice in the field of cryptocurrency mining over the past years.

When Bitcoin was first introduced, it was mined on machines that had normal processing units however, it soon turned out that the method was way too slow. Thus, today, cryptocurrency is generated by large mining pools. The Swedes are worried by the fact that these pools use huge amounts of electricity.

In an open letter addressed to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt/hour per year. The names are Bjorn Risinger, Director at the Swedish Environmental Protection Agency and Erik Thedeen from the Swedish Financial Supervisor Authority.

This amount of electricity is enough to provide electricity to around 200,000 households. Bjorn Risinger & Erik Thedeen claim that cryptocurrency miners use more and more of Sweden’s renewable energy.

"If we permit extensive mining crypto-assets to Sweden it is a chance that the renewable power available to us won't suffice to meet our needs for transition to a more sustainable climate," wrote the Swedes in a letter addressed to the EU.

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

The coexistence of climate change and cryptocurrency
While cryptocurrency is more widely discussed and talked about than ever before it remains a source of controversy.

I am awestruck by cryptocurrency and its many possibilities. It's here to stay, and I believe it will make a lot of headlines within the next few years.

While we wait, I hope we can come up with a solution for the climate and cryptocurrency to be able to coexist.



Here's my website: https://www.bukalapak.com/u/arfen23