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Arif Efendi - Why Cryptocurrency is Going to Be Around for the Long Term
Arif Efendi, an English-based businessman, shares his thoughts about crypto, as well as Sweden's request to have the EU ban Bitcoin mining.
Arif Efendi a businessman shares his view about cryptocurrency and Sweden's plan to ban Bitcoin mining.
Arif Efendi Arif Efendi an entrepreneur, stated that cryptocurrency has been being targeted in recent years. According to Arif Elfendi cryptocurrency has been in the news lately.
He says, however that cybercash is a positive option because of its many benefits.

What's all the fuss about? Cryptocurrency.
While the term "cryptocurrency" that was popular at least a decade ago, it only become well-known in recent times.

Bitcoins have been featured in numerous news reports and were recently the talk of the town because Sweden would like to ban the European Union (EU) to ban the mining of Bitcoins.

What is cryptocurrency, and what are these terms?

These are some of the questions I am often asked after many years spent researching and investing. Let's discover the world of cryptocurrency together.

What is cryptocurrency exactly?
It is basically a digital currency. It is a digital form of money. https://www.thelondoneconomic.com/lifestyle/my-business/rethinking-hospitality-navigating-the-post-covid-era-with-arif-efendi-351510/ There aren't physical coins or notes. Data is the sole form of money.

Additionally, they are forms of digital currencies developed to be used on peer-to-peer networks devoid of central authority. Arif Efendi The most widely known cryptocurrency is Bitcoin.

Bitcoins, and other types cybercash, have elements that allow for decentralization. They function without the interference of central bank or administrator.

The decentralized control is linked to another characteristic of cryptocurrency which is increased security and anonymity because of its use of cryptography.
Cryptocurrency offers many advantages over traditional currencies. It isn't easy to counterfeit or debased because of the protocols for cryptography that assure its existence.

In addition, cryptocurrency accounts are not "in the red" since it does not have a real balance, from which a deficit could occur.

Arif Efendi In addition, cryptocurrency allows instantaneous transactions between various parties from all over Earth with a certain amount of confidence.

How is cryptocurrency different from stocks?
Cryptocurrency is more than stocks as it is a type of digital currency that utilizes cryptography to make transactions.

Cryptocurrencies are completely decentralized, that is, they don't have a central bank system or authority controlling their operations. Arif Efendi The cryptocurrency market is a place for trading and investing.

Dealers and stock brokers sell stocks on the market. Stock is a symbol of ownership in an organization, and it can be traded or bought at a profit based upon its performance.

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

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

Why is cryptocurrency so popular
Cryptocurrency is rapidly gaining popularity in the present day society. People are purchasing cryptocurrency due to the advantages it offers. Information on cryptocurrency has been in circulation for a long time, but in recent times cryptocurrency has sparked excitement, leading to more cryptocurrency purchases than ever before.

Cryptocurrency offers people total control over their money. It is not tied to banks or financial institutions. Like I said earlier, it is also decentralized, meaning no person, group or business owns them. Many people like me are attracted to cryptocurrency for the ability to manage their personal finances.

Why does Sweden wish for to ban Bitcoin mining in the EU to prohibit Bitcoin mining?
Despite its popularity the EU legislature is currently considering new legislation which would ban cryptocurrency mining that is energy intensive from being carried out in any country within the union.

This legislation is being made due to the fact that cryptocurrency miners were using electricity supplies to their own advantage in Sweden. This is a very popular way to mine cryptocurrency in the last few years.

Bitcoin was initially mined using conventional processing machines. However it was found to be too slow when it first came out. Consequently, cryptocurrency is now generated by large mining pools. These mining pools consume enormous amounts of money, which is why it's a problem for the Swedes.

In an open letter to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt per hour annually. The names of the people who wrote the letter are Bjorn Risinger director of the Swedish Environmental Protection Agency, and Erik Thedeen, director of the Swedish Financial Supervisory Authority


This amount of power could power around 200,000 homes. Bjorn Risinger and Erik Thedeen report that cryptocurrency miners are using more of Sweden's clean energy.

"If we allowed extensive mining in Sweden of crypto-assets there is a danger that the renewable energy available will not be sufficient to cover the necessary climate change transition we have to make," wrote the Swedes in their letter to the EU.

Bjorn Risinger and Erik Thedeen refer to Sweden's obligations regarding climate in accordance with the 2015 Paris Agreement.

The cryptocurrency and the climate can coexist
Although cryptocurrency is now more talked about and talked about than ever before, it is still in the middle of controversy as you can see.

I believe that cryptocurrency is an amazing possibility that has unlimited possibilities. It will be a big news story in the future, I'm sure.

In the meantime, I hope we can find a way for the climate and cryptocurrency to be in harmony.

Arif Efendi

Here's my website: https://find-and-update.company-information.service.gov.uk/company/11319774/filing-history