Notes

Arif Elfendi Why Cryptocurrency is Here to Stay
Arif Efendi, an English-based businessman, shares his thoughts regarding crypto and Sweden's demand for the EU prohibit Bitcoin mining.
Arif Efendi, a businessman is a businessman who shares his thoughts regarding cryptocurrency and Sweden's plan to prohibit Bitcoin mining.
Arif Efendi is a businessman whose views on cryptocurrency has been featured in the news recently. According to Arif Efendi cryptocurrency has been in the news lately.
He also says that the cryptocurrency isn't the only thing with positive qualities to provide.

What's the latest buzzwords about Cryptocurrency.
Although cryptocurrency is a term which has been in use since around 10 years ago, it has only become well-known in recent years.

Arif Efendi The news has been all about cryptocurrencies and they were recently the topic of conversation because of Sweden's wish for the European Union (EU), to ban mining of Bitcoins.

What exactly is cryptocurrency and what are all these terms?

These are common questions that I get asked after years of investing and research. Let's look into the world of cryptocurrency together.

What is cryptocurrency?
Arif Efendi Cryptocurrency is simply digital money. With cryptocurrency, there aren't any paper notes or physical coins. All money is in the form data.

Additionally, they are forms of digital currencies designed for use on peer-to peer networks devoid of central authority. Bitcoin is the most popular cryptocurrency.

Bitcoins and various other types of cybercash are decentralized because they aren't governed by a central bank or administrator.

One of the other advantages of cryptocurrency is the decentralized control, which is more secure and private since it utilizes cryptography.
The benefits of cryptocurrency are greater than traditional currencies. Due to cryptographic protocols, cryptocurrency can't be counterfeited or devalued.

Additionally, accounts with cryptocurrency cannot go "in the red" since it does not have a balance, from which a deficit can be derived.

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

Arif Efendi What distinguishes cryptocurrency from stocks? How can it be used to increase their value?
Cryptocurrency is different from stock by the fact that it is a type digital currency that makes use of encryption to safeguard transactions.

They are decentralized, which means they do not have a central banking system or authority that controls their operations. The market for cryptocurrency involves investing and trading.

Stock brokers and dealers trade stocks on the stock market. Stocks represent ownership interests in businesses and are traded at a profit or resold at a profit depending upon the business's performance.

The price of stocks fluctuates daily due to demand and supply, overall economic health as well as the perception of investors about value and potential profits from company expansion, etc.

Arif Efendi However, cryptocurrency prices seldom fluctuate by more than 1-2 percent per day.

Why is cryptocurrency so popular?
The cryptocurrency market is growing rapidly in popularity right now. Many people are purchasing cryptocurrency because of the many advantages it provides. Information about cryptocurrency has been around for many years, but more recently cryptocurrency has generated curiosity, which has led to more purchases of cryptocurrency than at any time before.

The cryptocurrency gives users total control over their finances. It's not dependent on banks or financial institutions. It is also decentralized, which means that no individual, group or company owns it. A lot of people like cryptocurrency due to the fact that they have the ability to manage their money.

Why does Sweden want to see the EU prohibit Bitcoin mining?

Despite its popularity it is not being considered as a viable option by EU legislators. They are currently looking into new laws that could stop energy-intensive cryptocurrency miners from being used throughout the EU.

This law was introduced due to the fact that cryptocurrency miners use the power grid in Sweden to their advantage. It has been popularized as a cryptocurrency mining method in the last few years.

Bitcoin was initially mined on ordinary processors. It quickly became clear that this was too slow. Most cryptocurrency today is generated by large mining pools. They consume massive amounts of electricity, which is something that concerns the Swedes.

Arif Efendi The writers of an open letter to the EU claim that Bitcoin mining in Sweden is 1 TeraWatt-hour every year. The names of those who sent the open letter to EU are Bjorn Riser, director of Sweden's Environmental Protection Agency. Erik Thedeen director of the Swedish Financial Supervisor Authority.

The power produced by this amount can power up to 200,000 homes. Bjorn Risinger Erik Thedeen and others assert that cryptocurrency mining is a good use of more and more Sweden's renewable energy.

"If we were to permit an extensive mining of crypto-assets in Sweden there is a chance that the amount of renewable energy resources available to us will be insufficient to meet the requirements of the climate transition that we need to achieve," the two Swedes sent in their letter to EU.

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

Coexistence of the climate and crypto
Although cryptocurrency is now more widely discussed and debated than ever before in the media however, it's still a subject of controversy.

It is a joy to me, too, to see the endless possibilities that cryptocurrency has. Arif Efendi It'll be a major news story in the near future, I'm sure.

While we wait, I'm hoping we can come up with a solution for the climate and cryptocurrency to coexist.

Arif Efendi

Website: https://www.sosyalarastirmalar.com/abstract/risala-fi-hased-work-of-kadizade-mehmed-arif-efendi-and-its-analysis-of-contents-73091.html