Notes

Arif Efendi The Reasons Cryptocurrency is Here to Stay
Arif Efendi (a London-based entrepreneur) gives his thoughts about cryptocurrency and Sweden's request to the EU to ban Bitcoin Mining.
Arif Efendi, a Swedish businessman, gives his opinion on cryptocurrency.
Arif Elfendi, a businessman from Pakistan believes that cryptocurrency has been controversial in recent years. According to Arif Efendi, a Swedish businessman, cryptocurrency has been being attacked in recent years. This is a trend that has accelerated across the globe.
He also claims that cybercash has a lot of positive things to offer.

What is all the hype concerning Cryptocurrency?
Although cryptocurrency has existed for more than a year time span, it's only since the last couple of years that it's been a household word.

Bitcoins have been featured in numerous news reports and recently became the talk of the town due to the fact that Sweden wants to ban the European Union (EU) to stop mining Bitcoins.

What is cryptocurrency ? And what does it mean?

These are the questions that I often get asked after years of investment and research. Let's get to it together, and discover the world of crypto.

What is cryptocurrency exactly?
In its simplest sense the term cryptocurrency is defined as digital currency. It is a digital form of money. There aren't any physical coins or notes. The only money exists in the form of data.

A cryptocurrency is a type of digital currency that is designed for use in peer-to-peer networks, without any central authority. Bitcoin is probably the most widely-known cryptocurrency.

Bitcoins as well as other forms of cybercash have elements of decentralization because they aren't governed by an administrator or central bank.

Another characteristic of cryptocurrency is its decentralized control, which is more secure and private because it uses cryptography.
The advantages of cryptocurrency are numerous in comparison to conventional currency. Arif Efendi Because of cryptographic protocols, cryptocurrency can't be counterfeited and isn't devalued.

In addition, cryptocurrency accounts cannot be "in the red" since they don't have a balance on their accounts.

Finally, cryptocurrency allows for fast and instant transactions between people anywhere on Earth with a reasonable degree of trust.

What is the difference between cryptocurrency and stocks?
Cryptocurrency is different from stocks because it employs cryptography to protect transactions.

The cryptocurrency market is completely decentralized. That means they do not have any central bank system or authority to manage them. The cryptocurrency market typically involves cryptocurrency trading and investing.

Stock market: This is where dealers and brokers exchange stocks. Arif Efendi A stock is an ownership stake in the company. It is traded at a profit or exchanged for cash , based on the performance of the company.

The price of stocks fluctuates based on demand and supply, the overall economy health, perceived value by investors, the company's growth potential, etc.

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

Arif Efendi What is the reason why cryptocurrency is so popular?
The popularity of cryptocurrency is growing in our modern society. People are purchasing cryptocurrency due to the advantages it offers. Although cryptocurrency information is known for years but it is only recently becoming well-known, which has led to more cryptocurrency transactions than ever before.

Cryptocurrency gives people complete control over their money rather than depending on financial institutions like banks and other. It's also decentralized, meaning that no one, business, or organization can own it. It is the freedom to manage your money that draws many people, including me.

Why does Sweden wish for to ban Bitcoin mining in the EU to prohibit Bitcoin mining?
Despite its popularity EU legislators are currently looking at new legislation that would bar the mining of cryptocurrency that is energy-intensive from being carried out in countries across the EU.

Since cryptocurrency miners have been making use of electricity sources in Sweden to their benefit, legislation is being introduced. Since the last few years, it has become a popular method to mine cryptocurrency.

Bitcoin was initially developed on normal processing machines. Arif Efendi But it was soon evident that the process was too slow. Today, cryptocurrency is produced via large mining pools. The Swedes are worried about the fact that these pools consume huge amounts of energy.

A letter addressed to EU authors states that Bitcoin mining in Sweden currently consumes 1 TeraWatt per hour each year. The authors' names include Bjorn Raisinger, Director for the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority

This is the same amount of electricity needed to supply 200,000 homes with energy. Bjorn risinger and Erik Thedeen report that cryptocurrency miners are using more of Sweden's clean energy.

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

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

The environment and cryptocurrency could coexist
Although cryptocurrency is more popular and talked about than it ever was however, it is still a source of controversy as you'll hear.

For me, cryptocurrency is an amazing opportunity that offers unlimited possibilities. It will be a big story in the coming years I'm sure.

https://patidestek.com/user/arif-efendiaubm744 As of now, I'm optimistic we can discover a way to ensure that the environment and cryptocurrency can coexist.


Here's my website: https://xn--80adec2ampndbs9h.xn--p1ai/user/Arif.Efendizquv278/