Notes

Arif Elfendi: Why Cryptocurrency will Stay
Arif Efendi is an English-based businessman, shares his views about crypto, as well as Sweden's request for the EU ban Bitcoin mining.
Arif Efendi is a businessman who is a skeptic about cryptocurrency.
Arif Efendi an entrepreneur, stated that cryptocurrency has been being targeted in recent years. In the aftermath, Sweden demanded the EU to prohibit bitcoin mining, a development that has expanded globally.
He also claims that cybercash is still a great option, with numerous positive benefits.


What's all the hype around Cryptocurrency?
While cryptocurrency has been around for more than a ten year time span, it's only in the last few years that it's become an everyday phrase.

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

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

These are questions that I have asked myself for many years after investing and researching. Arif Efendi Arif Efendi Let's tackle it together, and discover the world of crypto.

What exactly is cryptocurrency?
Cryptocurrency is simply digital money. With cryptocurrency, there are no physical notes or coins. The only way to earn money is to use data.

Furthermore, cryptocurrencies are currencies that are designed to facilitate peer-to-peer transactions that are free from central control. The most well-known cryptocurrency is Bitcoin.

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

The decentralized control can be linked to another characteristic of cryptocurrency: enhanced anonymity and security through cryptography.
https://www.scienceworldreport.com/articles/62025/20230306/arif-efendi-explains-why-reliance-on-renewable-energy-is-arriving-quickly.htm There are many advantages to cryptocurrency over conventional currencies. Because of cryptographic protocols that ensure the existence of the currency it is not able to be counterfeited and cannot be debased.

Additionally Cryptocurrency accounts are not allowed to be "in red" because there is no account balance that could cause a deficit. can occur.

Additionally, cryptocurrency permits instant transactions between any party on Earth that are backed by a reasonable amount of trust.

How is cryptocurrency different to stocks?
Cryptocurrency has a distinct difference from stock market . It is a kind of digital currency that makes use of cryptography to safeguard transactions.

Cryptocurrencies do not have any central bank system. The market for cryptocurrency typically includes trading and investing in cryptocurrency.

Dealers and stock brokers trade stocks on the stock market. Stocks are ownership rights in firms and may be traded for profit or resold for profit, based on the business's performance.

The price of stocks fluctuates daily due to supply and demand and the overall health of the economy as well as the value that investors perceive, potential for gains through the growth of a company, etc.

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

What is the reason why cryptocurrency is so popular?
https://www.sosyalarastirmalar.com/abstract/risala-fi-hased-work-of-kadizade-mehmed-arif-efendi-and-its-analysis-of-contents-73091.html The cryptocurrency market is currently growing in popularity. The benefits that cryptocurrency offers are the reason why people are investing in it. Although cryptocurrency information is known for years, it has recently been widely used, leading to greater cryptocurrency transactions than before.

It is a method for people to manage their money instead of being dependent on banks or other financial institutions. As I said the cryptocurrency is also uncentralized. This means that it is not the property of any individual or group, business or other organization. http://acikerisim.uludag.edu.tr/handle/11452/14743 A lot of people like cryptocurrency due to the fact that they are able to control their money.

Why does Sweden would like to see the EU ban Bitcoin mining?
Despite its ubiquity, the EU legislature is currently considering new legislation which would ban cryptocurrency mining that is energy intensive from being conducted in countries within the EU.

Arif Efendi Because cryptocurrency miners are using electricity supplies in Sweden for their own gain The legislation has been proposed. It has been popularized in the field of cryptocurrency mining over the past years.

Bitcoin was created initially using computers that had standard processing units. However, it soon became evident that it was slow. The majority of cryptocurrency currently comes from large mining pools. They consume massive amounts of power, an issue that worries the Swedes.

According to an open letter to the EU, Bitcoin mining in Sweden is currently consuming 1 TeraWatt per hour annually. The authors' names include Bjorn Raisinger, Director for the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority.

This electricity is enough to power 200,000 households. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining is consuming more of Sweden's renewable energy.

"If we allow extensive mining in Sweden of crypto-assets, there's a danger that the renewable energy sources available is not enough to cover the necessary climate change that we need to undertake," 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 coexistence of climate change and cryptocurrency
Although cryptocurrency is being more talked about and popular than ever before, it's still controversial.

I am a big fan of cryptocurrency and all the opportunities it presents. It's going to be a major story in the coming years, I'm sure.

As of now, I'm hopeful we'll be able to discover a way to ensure that the cryptocurrency and the climate can coexist.



Homepage: https://www.ketebe.org/sanatkar/bakkal-arif-efendi-170