Notes

Arif Efendi The Reasons Cryptocurrency is Going to Be Around for the Long Term
Arif Efendi A businessman from London shares in this op-ed his view on cryptocurrency and Sweden's call to the EU to ban Bitcoin mining.
Arif Efendi is a businessman who shares his opinion regarding cryptocurrency.
Arif Efendi is a businessman who claims that cryptocurrency has been featured in the news recently. According to Arif Efendi, cryptocurrency has been scrutinized in recent years.
He added that there are still many positive aspects to cybercash.

What's the fuss about Cryptocurrency and the hype surrounding it?
While cryptocurrency has been around for more than a decade year time span, it's only since the last couple of years that it's become a household phrase.

The media has been talking about cryptocurrencies and they were recently the topic of conversation because of Sweden's wish for the European Union (EU), to stop mining Bitcoins.

What's the big deal and what is the real meaning of cryptocurrency?

These are questions that I've been asking myself for several years, after having invested and studying. Let's discover the world of cryptocurrency together.

What is cryptocurrency exactly?
The most straightforward definition of cryptocurrency is digital currency. Cryptocurrency is digital money. There aren't physical notes or coins. Data is the only form of currency.

A cryptocurrency is a kind of digital currency designed for use by peer-to-peer networks, without any central authority. Bitcoin is probably the most well-known cryptocurrency.

Bitcoins and cybercash also have aspects of decentralization because they work without a central bank system or an administrator.

Decentralized control refers to another cryptocurrency characteristic, namely greater security and privacy by using cryptography.
There are many advantages to cryptocurrency over conventional currencies. It isn't easily manipulated or debased because of the protocols for cryptography that assure its existence.

Furthermore, cryptocurrency accounts cannot be "in the red" because they don't have a balance in the account.

Finally, cryptocurrency allows near-instantaneous transactions with different parties from any part of the world that has an acceptable level of confidence.

What is the difference between cryptocurrency and stocks? How can it be used to increase their value?
The cryptocurrency market is different from stock in the sense that it's an electronic currency that utilizes cryptography to protect transactions.

Cryptocurrencies are completely decentralized, meaning they have no centralized banking system or authority to regulate their operations. Arif Efendi The market for cryptocurrency is principally about investing in and trading with cryptocurrency.

The stock market permits brokers and dealers to trade stock. Stock is an ownership interest in the business. It is traded at a profit or traded for cash based on the performance of the company.

https://bitrebels.com/business/crypto-enthusiast-arif-efendi-why-prefer-cryptocurrency-over-stocks/ Prices for stocks fluctuate daily due to supply and demand and the overall health of an economy, the perception of investors of worth, the likelihood of expansion of the company and many other variables.

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

Why is cryptocurrency so well-liked?
Today's society is quickly embracing cryptocurrency. Many people are buying cryptocurrency because of the benefits it provides. Although information about cryptocurrency has been in circulation since the beginning but more people are attracted to the subject.

Cryptocurrency allows people to have complete control over their money instead of relying on banks or financial institutions. Arif Efendi It's also decentralized because nobody, no organization, or group is able to own it. Many people like me are attracted to cryptocurrency for the ability to manage their own finances.

Why is Sweden opposing Bitcoin mining being banned by the EU
Despite its widespread popularity, cryptocurrency is not currently being thought of as a viable option by EU legislators. They are currently considering new legislation, which would prevent energy-intensive cryptocurrency miners from being employed across the EU.

Due to cryptocurrency miners using electricity supplies in Sweden to make money for themselves The legislation is being considered. It is a well-known way of mining cryptocurrency in the last few years.

Bitcoin was initially mined using normal processor units. It quickly became clear that this was too slow. Therefore, Bitcoin is now produced by huge mining pools. Arif Efendi The Swedes are worried about the fact that these pools use huge amounts of electricity.

Open letter to the EU: Bitcoin mining in Sweden consumes 1 TeraWatt every year, according to authors. The names of the authors include Bjorn Raisinger, Director for the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority.

This electricity is enough to power the homes of 200,000 people. Bjorn Riser and Erik Thedeen say that mining cryptocurrency consumes more of Sweden's energy.


In a letter addressed to the EU, the Swedes said that allowing massive mining of crypto-assets in Sweden could lead to a shortage of renewable energy to support the required climate change.

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

https://www.norwich.edu/record/3343-staying-at-the-forefront The coexistence of cryptocurrency and the climate
While cryptocurrency is becoming more widely discussed and debated than any time in the past in the media but it's still in the middle of controversy.

I, myself, enjoy cryptocurrency and its endless opportunities. It's in the making and will continue to be a major topic of discussion.

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



Here's my website: https://books.google.com/books?id=hKg-rQcBNXsC&pg=PA116&lpg=PA116&dq=arif+efendi&source=bl&ots=EFE4PlJ6yf&sig=ACfU3U3Xg4mnq6c26855vtF7YBqIHJ_z0g&sa=X&ved=2ahUKEwiEucyIipv4AhWSkGoFHXWCDso4FBDoAXoECAIQAw