Notes

Arif Efendi Why Cryptocurrency Is here to stay
Arif Efendi is a London-based businessman who shares his views on cryptocurrency as well as Sweden's demand for the EU's ban on Bitcoin mining.
Arif Efendi a businessman shares his view about cryptocurrency and Sweden's plans to ban Bitcoin mining.
Arif Efendi an entrepreneur, stated that cryptocurrency has been attacked in recent times. According to Arif Efendi, who is a Swedish businessman, cryptocurrency has been attacked in recent times. This is a trend that has accelerated across the globe.
However, he claims that cybercash still has lots of positive qualities to provide.

What's the fuss about Cryptocurrency?
While cryptocurrency has been around since more than year, it's only been in the last few years that it's become an everyday term.

The news lately has been about cryptocurrency and they were recently the talk of town due to Sweden's desire for the European Union (EU), to stop mining Bitcoins.

What is cryptocurrency and what does it mean?

These are the questions I have been asking myself for a number of years after investing and researching. Let's all get together and dive into the world that is cryptocurrency.

Arif Efendi What is cryptocurrency?
In its most basic form, cryptocurrency can be described as digital currency. It is a digital form of money. There aren't physical coins or notes. Data is the only form of money.

Furthermore, cryptocurrencies are types of digital currency designed for usage on peer-to-peer networks that are not controlled by a central authority. Bitcoin is the most well-known cryptocurrency.

Bitcoins, and other types cybercash, contain elements that allow for decentralization. They function without the intervention of central bank or administrator.

One more characteristic of cryptocurrency is its decentralized controlthat provides more secure and private because it uses cryptography.
There are many advantages to cryptocurrency over conventional currency. https://www.librakitap.com.tr/index.php?option=com_content&view=article&id=441&Itemid=105 The cryptographic protocols behind the existence of cryptocurrency ensure that it can't be debased or counterfeited.

Furthermore, cryptocurrency accounts aren't able to fall "into the red" as cryptocurrency doesn't have an account balance which could cause deficit.

With a decent level of trust, cryptocurrency lets for fast transactions between various parties on Earth.

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

They do not have a central bank system, and are decentralized. Arif Efendi The cryptocurrency market is primarily about cryptocurrency trading and investing.


The stock market permits dealers and brokers to trade stocks. Stocks are a form of ownership in a company and can be traded or sold for an income based on their performance.

https://twitter.com/arifouo Stock prices fluctuate every day because of demand and supply in addition to the overall health of an economy, investor perceptions of worth, the likelihood of growth of a company, and many other factors.

However, cryptocurrency prices are usually less than 1-2% per hour.

Arif Efendi What is the reason why cryptocurrency is so popular?
It is rapidly growing in popularity in our modern society. The people who buy cryptocurrency are buying it for the many benefits it provides. While information about cryptocurrency has been around since its inception but more people are fascinated by it.

Cryptocurrency allows people to have complete control over their finances instead of relying on banks or financial institutions. It's also distributed, which means nobody, no group or person can manage it. A lot of people like me are attracted by cryptocurrency because of the ability to manage their personal finances.

Arif Efendi Why is Sweden so determined to have Bitcoin mining shut down by the EU?
Despite its popularity in the EU lawmakers are currently studying new legislation that will prohibit energy-intensive cryptocurrency mining being carried out in all countries of the union.

This law was introduced since cryptocurrency miners are using the power grid in Sweden to benefit. It is a well-known method of mining cryptocurrency in recent years.

Bitcoin was initially mined with ordinary processing units. However it was found to be inefficient when it first came out. Thus, Bitcoin is now produced by large mining pools. The Swedes are worried by the fact that these mining pools use huge amounts of electricity.

Arif Efendi A letter addressed to EU authors states that Bitcoin mining in Sweden is now consuming 1 TeraWatt an hour annually. The authors' names are Bjorn Raisinger, Director of the Swedish Environmental Protection Agency, Erik Thedeen, Director of the Swedish Financial Supervisor Authority

It's the equivalent to the amount of electricity required for 200,000 households to have power. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining uses more and more of Sweden's renewable energy.

"If we were allowed to mine crypto-assets within Sweden and the EU, there's a chance that the renewable energies that we have available will not suffice to support the necessary climate change," the Swedes wrote in a letter addressed to the EU.

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

Climate and cryptocurrency coexist
Although cryptocurrency is now more widely discussed and talked about than it ever was, it is still a subject of debate.

It's a pleasure for me, too, to be able to envision the endless possibilities that cryptocurrency has. It will be a big news story in the near future I'm sure.

In the meantime, I hope that we can find a way for cryptocurrency and the environment to coexist.



Website: http://www.ispir.gov.tr/kadizade-mehmed-arif-efendi