Notes

Arif Elfendi The Reasons Why Cryptocurrency Will Stay
Arif Efendi (a London-based businessman from London) offers his views regarding cryptocurrency, and Sweden's appeal to the EU to ban Bitcoin Mining.
The businessman Arif Efendi shares his view regarding cryptocurrency and Sweden's plan to stop Bitcoin mining.
According to businessman Arif Efendi, cryptocurrency has been under scrutiny over the past few years. This is why Sweden called on the EU to stop bitcoin mining, a development that has expanded globally.
He also said that there are still many benefits to using cybercash.

Arif Efendi What's the latest buzzwords about Cryptocurrency.
While cryptocurrency has been around for over 10 years, it's only in the last few years that it has become a household name.

Recent news articles have focused on cryptocurrencies. In recent times, they have become the subject of discussion because Sweden has asked for the European Union to ban Bitcoin mining.

What is all this about and what exactly is the real meaning of cryptocurrency?

These are the types of questions I am often asked after years of research and investing. Let's look into the world of cryptocurrency together.

What is cryptocurrency?
It is basically a digital currency. The cryptocurrency is not a physical currency. The money exists strictly in the form of data.

Additionally, they are digital currency designed for peer-to-peer transactions that are free from central control. Bitcoin is by far the most popular cryptocurrency.

Bitcoins as well as other forms of cybercash contain elements of decentralization since they are independent of the central bank or administrator.

Decentralized control is connected to one more cryptocurrency characteristic, namely enhanced security and privacy through the use of cryptography.
The advantages of cryptocurrency are numerous compared to traditional currency. Due to cryptographic protocols that ensure the existence of the currency, cryptocurrency cannot be counterfeited nor debased.

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

Finally, cryptocurrency allows for instant transactions between anyone on Earth that have a reasonable amount of trust.

https://myspace.com/arif-efendiorpi837 What distinguishes cryptocurrency from stocks? https://www.pcb.its.dot.gov/PageRedirect.aspx?redirectedurl=https://filkom.ub.ac.id/profile/staff/arif.efendi How can it be utilized to make them more valuable?
Cryptocurrency is more valuable than stocks as it is a digital currency that uses cryptography for transactions.

Cryptocurrencies are totally decentralized. That means they do not have an official central bank system or authority to control them. The markets for cryptocurrency typically include the trading of cryptocurrency and investments.

http://atlas.dustforce.com/user/arif-efendieaee700 Stock brokers and dealers deal in stocks on the stock market. A stock is an ownership interest within the company. It can be traded for profit or traded for cash based on the performance of the company.

Prices for stocks fluctuate daily because of supply and demand as well as the overall health of the economy, perception value by investors and potential profits from company expansion, etc.

But, prices for cryptocurrency rarely vary by more than 1-2% per day.

What is the reason why cryptocurrency is so popular?
The popularity of cryptocurrency is increasing rapidly. People are buying cryptocurrency for its numerous benefits. Although cryptocurrency information is known for many years however, it is now being widely used, leading to more transactions in cryptocurrency than ever before.

Cryptocurrency allows people to have total control over their money instead of relying on banks or other financial institutions. As I said the cryptocurrency is also decentralized. This means that it does not belong to any single person, group, company or any other entity. Many of us are attracted to cryptocurrency for the capability to control their own money.

Why does Sweden would like the EU to prohibit Bitcoin mining?
Despite its popularity within the EU legislators are examining new legislation that would prohibit energy-intensive cryptocurrency mining being done in countries throughout the union.

Since cryptocurrency miners have been making use of electric power sources in Sweden to their benefit, legislation is being introduced. This has been a popular practice in cryptocurrency mining over the past years.

Bitcoin was first mined on regular processor units. It soon became apparent that this was too slow. Today, cryptocurrency is produced by large mining pools. These mining pools use huge quantities of electricity and this is what concerns the Swedes.

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

This electricity is enough to power 200,000 homes. Bjorn Risinger and Erik Thedeen claim that cryptocurrency miners use the increasing amount of Swedish renewable energy.

"If we were to allow the mining of crypto assets in Sweden, there is a possibility that the renewable energy resources available to us won't be sufficient to cover the required climate transition that we need to achieve," the two Swedes wrote in their letter to EU.

Erik Thedeen, Bjorn Risinger Bjorn Risinger, and Erik Thedeen are both referring to Sweden's climate commitments under the 2015 Paris Agreement.

The coexistence of cryptocurrency and the climate
Although cryptocurrency is becoming more talked about and popular than ever before, it's still controversial.

I find immense joy in cryptocurrency and all its possibilities. Arif Efendi I am sure it is going to be around for a while and it will generate many more headlines in the future.

In the meantime, I'm hoping we'll discover a way to ensure that the environment and cryptocurrency can coexist.


Here's my website: https://myspace.com/arif-efendiorpi837