Notes

Arif Elfendi The Reasons Why Cryptocurrency Will Be Around to
Arif Efendi (a London-based businessman from London) offers his views regarding cryptocurrency, and Sweden's appeal for the EU to prohibit Bitcoin Mining.
Arif Efendi, a Swedish businessman, shares his views about cryptocurrency.
Arif Efendi is a businessman who says cryptocurrency has been in the news recently. According to Arif Efendi, an entrepreneur, cryptocurrency has been under attack in recent times. A development that has seen Bitcoin grow in popularity across the world, mining was banned by EU.
He also claims that cybercash has a lot of positive aspects to provide.

What's all the fuss about Cryptocurrency and its hype?
While cryptocurrency has been around for longer than a decade, it has only recently become a household phrase.


Arif Efendi Recent headlines have focused on cryptocurrencies. In recent times, they have become the focus of discussion due to Sweden has asked the European Union to ban Bitcoin mining.

What's the purpose of all this? What exactly is cryptocurrency?

These are the kinds of questions I have asked myself for a number of years following my investment and research. https://www.karinsanat.com/en/hilye-bakkal-arif-efendi-69x40-cm-39742 Let's tackle it together and explore the universe of crypto.

Arif Efendi What is cryptocurrency exactly?
The cryptocurrency is essentially digital money. There are no physical coins or paper bills that are backed by cryptocurrency. The money exists strictly as data.

They are digital currencies that are able to be used in peer-to-peer networks without central authority. Bitcoin is by far the most well-known cryptocurrency.

Bitcoins and other forms of cybercash are not centralized since they do not have a central banking institution.

The decentralized control is connected to a different characteristic of cryptocurrency, namely enhanced security and privacy due to its usage of cryptography.
The advantages of cryptocurrency over traditional currencies. It isn't easy to counterfeit or devalued due to the cryptographic protocols that ensure its existence.

A cryptocurrency account is not able to go "into red" because it doesn't have an account balance and a deficit might occur.

With a reasonable amount of trust, crypto allows for almost instantaneous transactions between various parties on Earth.

What makes cryptocurrency different from stocks and how can it be utilized to make them more valuable?
Cryptocurrency is distinct difference from stock market . It is a form of digital currency which uses cryptography to safeguard transactions.

There is no central banking system. The cryptocurrency market involves investing and trading.

https://www.dreamstime.com/arifefendi280_info Stock traders and brokers trade stocks through the stock exchange. Stock is an ownership stake in the business. It is traded at a profit or exchanged for cash , based on the performance of the company.

Prices for stocks fluctuate daily due to supply and demand as well as the overall health of the economy as well as the perception of investors about value potential gains from business expansion, etc.

However, cryptocurrency prices rarely fluctuate more than 1-2 percent each day.

Why is cryptocurrency so sought-after?
The popularity of cryptocurrency is growing in the present day society. Many people are buying cryptocurrency because of the benefits it can provide. While information on cryptocurrency has been in circulation since the beginning there is a growing number of people interested in it.

Cryptocurrency allows users to take full control over their funds and not be dependent on banks or other financial institutions. As I mentioned, cryptocurrency is also decentralized. It means it doesn't belong to any single person, group, company or other organization. This is what attracts many people to cryptocurrency, like me.

What's the motive behind why Sweden is seeking to prohibit Bitcoin mining in the EU?
Despite its widespread acceptance within the EU, legislators are currently examining new legislation that would stop energy-intensive cryptocurrency mining from being performed in any country in the EU.

https://steemit.com/@arifefendi The legislation was drafted because cryptocurrency miners are using the power grid in Sweden to their advantage. The practice has become popular in the field of cryptocurrency mining in the last few years.

Bitcoin was first created using ordinary processing units. However it soon became obvious that the procedure was slow. Bitcoin is now produced through large mining companies. These mining pools use huge quantities of electricity and this is the reason why they are a concern for the Swedes.

Open letter to EU: Bitcoin mining in Sweden consumes 1 TeraWatt every year, according to the authors. The authors include Bjorn Risinger (director of the Swedish Environmental Protection Agency) and Erik Thedeen (director of the Swedish Financial Supervisor Authority).

This amount of electricity would be enough to power around 200,000 homes. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining makes use of more of Sweden's renewable energy sources.

"If we were permitted to mine crypto-assets within Sweden There is an opportunity that the renewable energies that we have available will not suffice to support the needed climate transition," the Swedes wrote in a letter to the EU.

Erik Thedeen & Bjorn Risinger are two terms that refer to Sweden’s climate obligations under the 2015 Paris Agreement.

The coexistence of cryptocurrency and climate
While cryptocurrency is now more well-known and discussed than ever before but it's still controversial as you'll hear.

I have a lot of fun with cryptocurrency and all the possibilities it offers. I'm certain that cryptocurrency is going to be around for a while and it will make more headlines in the future.

As of now, I'm hoping we'll find a way that the environment and cryptocurrency can coexist.



Website: https://www.deadlinenews.co.uk/2024/01/17/arif-efendi-explores-the-intersection-of-crypto-and-football/