Notes

Arif Efendi, why Cryptocurrency Will Rather Stay
Arif Efendi (a London-based entrepreneur) offers his views on cryptocurrency and Sweden's call for the EU to prohibit Bitcoin Mining.
Arif Efendi is a businessman who shares his opinion regarding cryptocurrency.
Arif Efendi, a businessman, claims that cryptocurrency has come under scrutiny over the last few years. According to Arif Efendi an entrepreneur, cryptocurrency has been under attack in recent years. A development that has seen bitcoin grow globally, mining was banned by EU.
He also claims that cybercash has a lot of positive qualities to offer.

What's all the buzz about Cryptocurrency.
While cryptocurrency has been around for longer than a decade, it has only recently become a popular word.

Cryptocurrencies have often made headlines and in recent times, they were the hot topic due to the fact that Sweden would like the European Union (EU) to stop mining Bitcoins.

What is the point of this? Arif Efendi What exactly is cryptocurrency?

These are the common questions I have encountered over the years of investing and research. Let's discover the world of cryptocurrency together.

What is cryptocurrency?
The most basic definition of cryptocurrency is that it is a digital currency. In the case of cryptocurrency, there are no physical notes or coins. The only way to make money is through data.

http://www.checkcompany.co.uk/director/10391833/MR-ARIF-EFENDI A cryptocurrency is a type of digital currency that is specifically designed to be used in peer-to-peer networks, without any central authority. Bitcoin is possibly the most widely-known cryptocurrency.

Bitcoins and various other forms of cybercash have elements of decentralization since they are not controlled by a central bank or single administrator.

The decentralized control also related to an additional cryptocurrency feature, which is the greater security of anonymity and anonymity due its use cryptography.
There are many advantages to cryptocurrency when compared to traditional currencies. It is for instance, it cannot be counterfeited or debased because of the cryptographic protocols that ensure the existence of cryptocurrency.

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

Finally, cryptocurrency allows for instant transactions between parties anywhere on Earth with a fair degree of trust.

How is cryptocurrency different from stocks?
The cryptocurrency is more valuable than stocks since it is a digital currency that uses cryptography for transactions.

Cryptocurrencies are totally decentralized. This means that they don't have any central bank system or authority to control the market. The cryptocurrency market is a place for investing and trading.

The stock market is an exchange where brokers and dealers deal in stocks. A stock is an ownership stake in a business so it can be traded or sold at an profit depending on the performance of the business.

Prices for stocks fluctuate based on the demand and supply, general economy health, value viewed from investors, growth potential, etc.

However, prices for cryptocurrency do not change more than a couple of% per 24 hours.

Why is cryptocurrency so popular?
The popularity of cryptocurrency in the present day is increasing rapidly. Many people are purchasing cryptocurrency because of the many advantages it provides. Arif Efendi Although cryptocurrency information has been available for many years, cryptocurrency is gaining more interest.

Cryptocurrency lets people have total control over their money , and not rely on financial institutions like banks and other. As mentioned earlier, it is also decentralized which means no person, group or corporation has ownership of it. A lot of people like cryptocurrency due to the fact that they are able to control their money.

What's the motive behind why Sweden wants to ban Bitcoin mining in the EU?
Despite its huge popularity, it is not currently being thought of by EU legislators. They are currently examining new laws that could hinder energy-intensive cryptocurrency miners being carried out throughout the EU.

This legislation is being made due to the fact that cryptocurrency miners were using electricity supplies for their own benefit in Sweden. In recent times it has become a popular method to mine cryptocurrency.

Bitcoin was initially mined on regular processor units. It quickly became clear that this was way too slow. Bitcoin is now created through large mining companies. These pools consume huge amounts and that's why it concerns the Swedes.

In an open letter sent to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt/hour annually. https://notes.io/qB95W The authors include Bjorn Risinger (director of the Swedish Environmental Protection Agency) and Erik Thedeen (director of the Swedish Financial Supervisory Authority).

Arif Efendi The amount of electricity produced can power up to the homes of 200,000 people. Bjorn Risinger Erik Thedeen and others affirm that cryptocurrency mining is a good use of the increasing amount of renewable Swedish energy sources.

In a letter sent to the EU in a letter to the EU, the Swedes stated that allowing extensive mining of cryptoassets by Sweden could result in a lack of renewable energy sources to meet the necessary climate change.

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

Arif Efendi The cryptocurrency and the climate coexist
While cryptocurrency is now more discussed and talked about than ever, it remains controversial.

Personally, I am a huge fan of cryptocurrency and its endless opportunities. I am sure it is going to be around for a while and it will make more news stories in the near future.


While we wait, I hope we can come up with a solution to allow the cryptocurrency and the climate to be able to coexist.



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