Notes

Arif Efendi - Why Cryptocurrency is Going to Be Around for the Long Term
Arif Efendi (a London-based entrepreneur) gives his thoughts regarding cryptocurrency, and Sweden's appeal for the EU to ban Bitcoin Mining.
Arif Efendi, a Swedish businessman, shares his thoughts about cryptocurrency.
Arif Efendi is a businessman whose views on cryptocurrency has been featured in the news lately. As a result, Sweden has urged the EU to stop bitcoin mining, a development that has grown globally.
He claims, however, that cybercash is a positive option because of its many benefits.

What's the fuss about Cryptocurrency?
Although cryptocurrency has been in existence for a while but the term is only an everyday word in recent years.

Recent news articles have been focused on cryptocurrency. In recent times, they have become the topic of conversation because Sweden has asked for the European Union to ban Bitcoin mining.

What's the significance of all this? Arif Efendi What exactly is cryptocurrency?

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

What is cryptocurrency?
It is basically a digital currency. There are no physical coins or paper bills using cryptocurrency. All money is in the form data.

In addition, cryptocurrencies are a type of digital currencies designed for use on peer-to peer networks devoid of central authority. Bitcoin is the most popular cryptocurrency.


Bitcoins as well as other forms of cybercash are not centralized since they do not have a central bank.

Another characteristic of cryptocurrency is its centralization of control, which provides more secure and private due to the use of cryptography.
The benefits of crypto over conventional currencies are numerous. Arif Efendi The cryptographic protocols behind cryptocurrency's existence ensure that it is not devalued or counterfeited.

In addition, cryptocurrency accounts cannot be "in the red", as they do not have a balance in the account.

Additionally, cryptocurrency permits near-instantaneous transactions with various parties from all over the world that has some degree of trust.

What is the difference between cryptocurrency and stocks?
Cryptocurrency is distinct from stocks because it uses cryptography to secure transactions.

Arif Efendi The cryptocurrency market is not a central banking system, and they are decentralized. The cryptocurrency market involves investing and trading.

Brokers and stock traders trade stocks on the stock exchange. Stocks represent ownership interests in businesses and are traded to earn profit or sold at a profit based on the performance of the business.

Prices for stocks fluctuate every day due to supply/demand economic health, the perceived value of investors, and the potential benefits from growth of companies.

However, the price of cryptocurrency fluctuates less than 1-2% every day.

Why is cryptocurrency so popular?
Cryptocurrency is rapidly growing in popularity today. Many people are purchasing cryptocurrency due to the numerous advantages it provides. Although cryptocurrency information is known for many years, it has recently been well-known, which has led to greater cryptocurrency transactions than before.

The cryptocurrency gives users total control over their finances. It's not tied to banks or financial institutions. It is also decentralized, which means that no individual business, organization or group has access to it. The possibility of being in control of your own money is what attracts many people, including me, to cryptocurrency.

Why is Sweden so determined to have Bitcoin mining shut down by the EU?
Despite the growing popularity of cryptocurrency mining, EU legislators are currently considering new legislation that will stop energy-intensive cryptocurrency mining any EU member country.

The law is being considered in response to cryptocurrency miners stealing the power supply in Sweden for their own gain. It is now a well-known method of cryptocurrency mining in the past few years.

Bitcoin was initially created on normal processing units. However it soon became evident that the process was slow. Today, cryptocurrency is generated via large mining pools. https://www.nadirkitap.com/kitapara.php?ara=kitap&tip=kitap&yayin_Evi=arif+efendi++matbaasi They consume massive amounts and that's why it is a concern for the Swedes.

According to the authors of an open letter addressed to the EU, Bitcoin mining in Sweden now consumes 1 TeraWatt-hour per year. The names of the authors are Bjorn Raisinger, Director of the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority.

It's the equivalent amount of power needed to provide 200,000 households with electricity. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining makes use of more of Sweden's renewable energy sources.

"If we allow mining of large scale crypto-assets to Sweden it is a possibility that the renewable energy available to us won't be sufficient to cover our climate change," wrote the Swedes in a letter to EU.

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

Arif Efendi Arif Efendi The coexistence of cryptocurrency and climate
Although cryptocurrency is now more widely discussed and debated than ever before in the mainstream media, it is still controversial.

I am a big fan of cryptocurrency and the numerous opportunities it provides. I'm sure that it's going to be around for a while and it will make more headlines in the future.

In the meantime, I'm hoping we find a way for cryptocurrency and the environment to be able to coexist.



My Website: https://thelibertarianrepublic.com/arif-efendi-why-cryptocurrency-here-to-stay/