Notes

Arif Elfendi Why Cryptocurrency is Here to Stay
Arif Efendi is a businessman from London who is quoted in an op-ed about his view on cryptocurrency and Sweden's call to the EU to stop Bitcoin mining.
Arif Efendi a businessman shares his view about cryptocurrency and Sweden's plans to ban Bitcoin mining.
Arif Efendi, a businessman, says that cryptocurrency has come under scrutiny in recent years. According to Arif Elfendi, cryptocurrency has been in the news lately.
However, he says that cybercash is a positive option because of its many benefits.

What's the fuss about Cryptocurrency?
Even though cryptocurrency has been around for more than a decade, it's only recently that it has been made a household word.

Cryptocurrencies often make the front of the news. Recently, they have were the focus of attention as Sweden wants to ban mining Bitcoin within the European Union (EU).

What's the matter with cryptocurrency?

Arif Efendi These are the questions I have asked myself for many years, after having invested and studying. Arif Efendi Let's get to it together, and discover the world of crypto.

What exactly is cryptocurrency?
Cryptocurrency is simply digital money. You don't need physical notes or coins to use cryptocurrency. The money exists strictly in the form of data.

Arif Efendi In addition, cryptocurrencies could be defined as digital currency designed to be used on peer-to-peer networks that do not have a central authority. Bitcoin is by far the most well-known cryptocurrency.

Bitcoins as well as other forms of cybercash can be considered decentralized because they don't have a central bank.

Decentralized control is a reference to another characteristic of cryptocurrency, which is the increased security and anonymity by using cryptography.
The advantages of cryptocurrency are much greater than traditional currencies. Due to the cryptographic protocol, cryptocurrency can't be counterfeited and debased.

Additionally, cryptocurrency accounts can't fall "into the red" as cryptocurrency doesn't have an account balance that could result in a deficit.

Finally, crypto allows for rapid transactions between anyone on the planet with a acceptable level of trust.

How is cryptocurrency different from stocks?
Cryptocurrency is different from stocks in the sense that it's an electronic currency that makes use of cryptography to secure transactions.

Cryptocurrencies are completely decentralized, meaning they don't have a central bank system or authority that controls the market. The cryptocurrency market is a place for investing and trading.

Stock brokers and dealers deal in stocks on the stock market. Stocks are ownership rights in companies and can be traded at a profit or resold at a profit depending upon the performance of the business.

The price of stocks fluctuates daily due to supply/demand economic health, the perceived value of investors and the possibility of profit from growth in a company.

But, prices for cryptocurrency rarely change more than 1-2 percent 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 because of the many advantages it can bring. Information on cryptocurrency has been in circulation for a long time, but in recent times cryptocurrency has sparked curiosity, which has led to more purchases of cryptocurrency than at any time before.

Arif Efendi Cryptocurrency offers people total control over their money. It's not dependent on banks and financial institutions. Arif Efendi As I mentioned, cryptocurrency is also uncentralized. It means it is not the property of any particular person or group, business or any other entity. This is the reason why many individuals to cryptocurrency, including me.

Why does Sweden wish for the EU to prohibit Bitcoin mining?
Despite its widespread popularity, cryptocurrency is not being thought of by EU legislators. They are currently considering new laws that could prevent energy-intensive cryptocurrency miners from being carried out throughout the EU.

The legislation is being proposed due to cryptocurrency miners draining the power supply in Sweden for their own gain. Since the last few years, it has become an increasingly popular way to generate cryptocurrency.

Bitcoin was first created using regular processing equipment. However , it became clear that the process was too slow. Thus, today, cryptocurrency is produced by huge mining pools. The Swedes are concerned by the fact that these mining pools require huge amounts of electricity.

Open letter to EU: Bitcoin mining in Sweden consumes 1 TeraWatt each year, according the authors. The names of those who wrote the open letter to the EU are Bjorn Riser director of Sweden's Environment Protection Agency, Erik Thedeen director of Swedish Financial Supervisor Authority


The amount of electricity produced can power up to 200 homes. Bjorn Risinger Erik Thedeen and others claim that cryptocurrency mining is a good use of increasing amounts of Sweden's renewable energy sources.

"If we were allowed to mine cryptoassets in Sweden and the EU, there's an opportunity that the renewable energy available to us won't suffice to support the necessary climate change," the Swedes wrote in a letter addressed to the EU.

Erik Thedeen & Bjorn Risinger are two terms used to are used to refer to Sweden's climate commitments under the 2015 Paris Agreement.

The cryptocurrency and the climate can coexist
While cryptocurrency is more popular and talked about than it has ever been, it is still a source of controversy, as you can hear.

I find immense joy in cryptocurrency and all the possibilities it offers. It will be a big news story in the near future, I'm sure.

In the meantime I hope that we can discover a way to allow cryptocurrency and the climate to coexist.



Read More: https://www.amazon.co.uk/Mֳ¼badele-Sֳ¼recinde-Selanikli-Mustafa-Efendi/dp/6257900778