Notes

Arif Efendi Why Cryptocurrency Is Going to Be Around for the Long Term
Arif Efendi (a London-based entrepreneur) gives his thoughts about cryptocurrency and Sweden's request to the EU to prohibit Bitcoin Mining.
Arif Efendi, a businessman, shares his views about cryptocurrency and Sweden's plans to ban Bitcoin mining.
Arif Elfendi, a Pakistani businessman, says cryptocurrency has been controversial in recent times. This is why Sweden called on the EU to ban bitcoin mining, a development that has spread across the globe.
He added that there are many positive aspects to cybercash.

Arif Efendi What's the fuss about Cryptocurrency and the hype surrounding it?
While cryptocurrency has been around for longer than a decade, it has only recently been made a common term.

Cryptocurrencies have been featured in the news recently. Arif Efendi This is because Sweden is urging the European Union, (EU) to not allow the mining of Bitcoins.

What is the point of this? And , what is cryptocurrency?

These are the kinds of questions I frequently encounter in the course of my investment and research. Let's gather and explore the world of cryptocurrency.

What exactly is cryptocurrency?
In its most basic form, cryptocurrency can be described as digital currency. In the case of cryptocurrency, there are no physical notes or coins. Data is the only form of money.

A cryptocurrency is a type of digital currency that is specifically designed to be used on peer to peer networks, without any central authority. Bitcoin is by far the most popular cryptocurrency.

Arif Efendi Bitcoins as well as other forms of cybercash can be considered decentralized because they do not have a central bank.

Decentralized control is connected to a different characteristic of cryptocurrency that is enhanced security and privacy through the usage of cryptography.
The benefits of crypto over conventional currency are numerous. It isn't easily manipulated or devalued due to the cryptographic protocols that ensure its existence.

Furthermore, cryptocurrency accounts aren't able to be "into the red" since it doesn't carry an account balance which could cause a deficit.

https://www.instagram.com/arifefendi165/ Additionally, cryptocurrency permits near-instantaneous transactions with various parties from any part of the globe that have a reasonable degree trust.

What is the difference between cryptocurrency and stocks?
Cryptocurrency is different from stock in the fact that it is a kind of digital currency that utilizes encryption to protect transactions.

The cryptocurrency market is completely decentralized, that is, they have no centralized banking system or authority that controls the market. The market for cryptocurrency usually involves cryptocurrency trading and investment.

Stock brokers and dealers sell stocks on the market. A stock represents an ownership stake in a company so it can be traded or sold for profits based on the results of the company.

Prices for stocks fluctuate daily because of demand and supply and the overall health of the economy, perceived value by investors and the potential for profit through the growth of a company, etc.

Arif Efendi But, the prices of cryptocurrency rarely fluctuate by more than 1-2% per 24 hours.

What is the reason why cryptocurrency is so popular?
The modern society is rapidly embracing cryptocurrency. People are purchasing cryptocurrency due to the benefits it provides. While information on cryptocurrency has been in circulation since the beginning, more people are now fascinated by it.

Cryptocurrency lets people have complete control of their money and not depend on banks or other financial institutions. It is also decentralized as there is no single person, group, or company is able to own it. The possibility of being in control of your own money is the reason that draws lots of people, like myself, to cryptocurrency.

https://www.facebook.com/Tangkas17/ What's the reason Sweden want to ban Bitcoin mining in the EU to prohibit Bitcoin mining?
Despite its widespread popularity, cryptocurrency is not being thought of as a viable option by EU lawmakers. They are currently looking into the possibility of introducing legislation that would hinder energy-intensive cryptocurrency miners being carried out across the EU.

Due to cryptocurrency miners using electricity supplies in Sweden to make money for themselves The legislation was proposed. In recent years, it has become an increasingly popular way to generate cryptocurrency.


https://thelibertarianrepublic.com/arif-efendi-why-cryptocurrency-here-to-stay/ Bitcoin was initially created with computers equipped with standard processing units. However, it soon became evident that it was too slow. Bitcoin is now created through large mining companies. They consume massive amounts of power, something that is a concern for the Swedes.

Open letter to EU authors declares that Bitcoin mining in Sweden currently consumes 1 TeraWatt an hour annually. Arif Efendi The authors' names include Bjorn Raisinger, director for the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority.

This will power 200,000 households. Bjorn Riser and Erik Thedeen say that mining cryptocurrency consumes more energy in Sweden.

"If we were to permit the mining of crypto assets in Sweden there is a chance that the amount of renewable energy available to us won't be sufficient to cover the required climate transition that we need to undertake," the two Swedes addressed in their letter to EU.

Erik Thedeen and Bjorn Risinger refer to Sweden's climate pledges in the 2015 Paris Agreement.

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

I am a huge fan of cryptocurrency and all the opportunities it provides. I am sure it is here to stay and that it will make more news stories in the near future.

As of now, I'm hopeful we'll discover a way to ensure that the cryptocurrency and the climate can coexist.



Homepage: https://www.instagram.com/arifefendi165/