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Arif Efendi Arif Efendi: Why cryptocurrency is here to stay
Arif Efendi, an English-based businessman, shares his thoughts about crypto, as well as Sweden's request to have the EU prohibit Bitcoin mining.
The businessman Arif Efendi shares his view regarding cryptocurrency and Sweden's plan to ban Bitcoin mining.
Arif Efendi an entrepreneur, stated that bitcoin mining has come being targeted in recent years. This is why Sweden demanded the EU to prohibit bitcoin mining, a development that has spread across the globe.
However, he claims that cybercash has a lot of positive qualities to offer.

What's all the hype concerning Cryptocurrency?
While cryptocurrency has been around for more than a decade now but it's only just been made a common term.

Cryptocurrencies have often made headlines and recently became the talk of the town because Sweden is urging to ban the European Union (EU) to prohibit mining Bitcoins.

What's the deal with cryptocurrency?

These are some of the questions I am often asked after many years spent researching and investing. Arif Efendi Let's explore the world cryptocurrency together.

What exactly is cryptocurrency?
In its most basic form it can be described as digital currency. It doesn't require notes or coins in order for using cryptocurrency. All money is in the form of data.

Additionally, they are forms of digital currency designed to be used on peer-to-peer networks without central authority. Bitcoin is by far the most popular cryptocurrency.

Arif Efendi Bitcoins and various other kinds of cybercash, contain elements that allow decentralization. They function without the intervention of central bank or administrator.

The decentralized control also linked to an additional cryptocurrency feature, which is the enhanced security of anonymity and anonymity through the use of cryptography.
The advantages of cryptocurrency are greater than traditional currencies. Due to the cryptographic protocols used to protect the currency's existence the currency is not susceptible to counterfeiting or devalued.

Additionally, cryptocurrency accounts are not "in the red" since it does not actually have an account balance from which a deficit could occur.

With a reasonable amount of trust, crypto permits almost instantaneous transactions among different parties anywhere on Earth.

What's the difference between stocks and cryptocurrency?
The cryptocurrency market is distinct from stock in the sense that it is a form of digital currency that makes use of cryptography to secure transactions.

The cryptocurrency market is not a central banking system and are decentralized. The cryptocurrency market usually involves trading and investing in cryptocurrencies.

Arif Efendi Stock market: This is where dealers and brokers exchange stocks. Stocks are ownership rights in companies and can be traded to earn profit or sold at a profit depending upon the business's performance.

The price of stocks fluctuates daily in response to demand and supply economic health, perception of worth of investors, as well as potential gains from company growth.

However, cryptocurrency prices rarely vary between 1-2% per day.

Why is cryptocurrency so popular?
The popularity of cryptocurrency is growing in our modern society. The people who buy cryptocurrency are doing so due to the advantages it provides. Although information about cryptocurrency has been in circulation since its inception, more people are now attracted to the subject.

The cryptocurrency gives users total control over their money instead of relying on financial institutions like banks and other. It's also distributed, which means that no company, group, or individual can control it. This is what attracts many people to cryptocurrency, like myself.

What is the motivation behind Sweden wants to ban Bitcoin mining within the EU?
Despite its widespread popularity, EU legislators are currently looking at new legislation that will prohibit energy-intensive cryptocurrency mining from being implemented in all countries of the EU.

The legislation was enacted due to the fact that cryptocurrency miners were using electricity supplies to their own advantage in Sweden. It is a well-known way to mine cryptocurrency in recent times.

When Bitcoin was introduced in the early 2000s, it was mined on computer systems that were able to process normal data, but it quickly was discovered that the process was too slow. http://153.126.169.73/question2answer/index.php?qa=user&qa_1=arif-efendipxhi107 Arif Efendi So, now, cryptocurrency is produced by large mining pools. These pools consume huge amounts of energy, which is why this issue is a problem for the Swedes.

A letter addressed to EU authors claims that Bitcoin mining in Sweden currently consumes 1 TeraWatt an hour annually. The names are Bjorn risinger, director of the Swedish Environmental Protection Agency and Erik Thedeen from the Swedish Financial Supervisor Authority.

This is enough electricity for the power of 200,000 homes. Bjorn Risinger and Erik Thedeen claim that cryptocurrency miners use increasing amounts of Sweden's renewable energy.

"If we were permitted to mine cryptoassets in Sweden There is a chance that the renewable energies that we have available will not suffice to meet the needed climate transition," the Swedes wrote in a letter addressed to the EU.

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

Climate and cryptocurrency coexist
While cryptocurrency is becoming more prominent and discussed than ever before in the media but it's still in the middle of controversy.

Personally, I am a huge fan of cryptocurrency and the endless possibilities it offers. I am sure it is in the future and it will create a lot more headlines in the future.

Arif Efendi I am hopeful that we will find a way to allow the cryptocurrency and the climate to coexist for a while.


Website: http://wownsk-portal.ru/user/Arif-Efendiipku518/