Notes

Arif Efendi The reason why cryptocurrency is here to stay
Arif Efendi is a businessman from London who shares his views on cryptocurrency, as well as Sweden's request for the EU's ban on Bitcoin mining.
Arif Efendi Arif Efendi a businessman shares his views on cryptocurrency and Sweden's proposal for banning Bitcoin mining.
Arif Elfendi, a businessman from Pakistan claims that cryptocurrency has become controversial in recent times. According to Arif Efendi, cryptocurrency has come under scrutiny in recent times.
Arif Efendi But, he says that cybercash still has lots of positive qualities to offer.

What's all the fuss about Cryptocurrency and its hype?
Arif Efendi Although cryptocurrency has existed for more than a year time span, it's only in the last few years that it's been an everyday phrase.

The news has been all about crypto and the cryptocurrency was recently the talk of the town because of Sweden's wish for the European Union (EU), to ban mining of Bitcoins.

What's the big deal and what is cryptocurrency actually?

These are some of the questions I get asked after years of researching and investing. Let's discuss it, and discover the universe of crypto.

What exactly is cryptocurrency?
Digital money is crypto in its most basic form. Cryptocurrency is digital money. There aren't physical notes or coins. It is solely as data.

They are digital currencies that are able to be used in peer-to-peer networks without any central authority. Bitcoin is by far the most well-known cryptocurrency.


Bitcoins as well as other forms of cybercash contain elements of decentralization since they are independent of the central bank or administrator.

One of the other advantages of cryptocurrency is its decentralized controlthat provides increased security and privacy because it uses cryptography.
Arif Efendi The advantages of cryptocurrency are numerous when compared to traditional currencies. It isn't easy to counterfeit or devalued because of the cryptographic protocols that assure its existence.

A cryptocurrency account can't be "into red" because it doesn't have a balance in the account and a deficit might occur.

With a fair amount of trust, cryptocurrency also allows for almost instantaneous transactions among different parties anywhere on Earth.

What's the difference between stocks and cryptocurrency?
Cryptocurrency is more than stocks , because cryptocurrency is a digital currency which makes use of cryptography to conduct transactions.

They are decentralized, meaning they don't have a central bank system or authority controlling their operations. The cryptocurrency market involves investing and trading.

The stock market is an exchange on which brokers and dealers deal in stocks. Stocks represent ownership interests in a company and can be sold or traded to earn profits based on its performance.

The price of stocks fluctuates based on supply and need, overall economic health, the perception of value by investors, company growth prospects, etc.

However, prices for cryptocurrency do not fluctuate by more than 1-2 percent per day.

What is the reason why cryptocurrency is so hot?
The popularity of cryptocurrency is growing in the present day society. The people who buy cryptocurrency are doing so due to the benefits it can provide. While information about cryptocurrency has been in circulation for some time but there is an increase in the interest in cryptocurrency.

The cryptocurrency gives users the ability to control their money in full instead of relying on banks or other financial institutions. It's also decentralized, meaning that no one entity, group, or person is able to use it. The ability to be in control of your own money is what draws many people, including me, to cryptocurrency.

What is the motivation behind Sweden would like to stop Bitcoin mining within the EU?
Despite its ubiquity, the EU legislature is currently looking at new legislation which would ban cryptocurrency mining that is energy intensive from being conducted in countries within the union.

The legislation was enacted due to the fact that cryptocurrency miners were using electricity to benefit themselves in Sweden. It has become a common method of cryptocurrency mining in recent time.

Bitcoin was first mined on normal processor units. Then it became evident that this was too slow. Today, cryptocurrency is produced via large mining pools. These pools use huge amounts electricity which is a concern for the Swedes.

Open letter to EU: Bitcoin mining in Sweden consumes 1 TeraWatt per year, according to authors. The names of the writers are Bjorn Risinger, director of the Swedish Environmental Protection Agency, and Erik Thedeen, director of the Swedish Financial Supervisory Authority

It is enough power to power the homes of 200,000 people. https://www.theexeterdaily.co.uk/news/sport/arif-efendis-perspective-unrivaled-allure-uefa-games Bjorn Risinger and Erik Thedeen claim that cryptocurrency miners are using more and more of Sweden’s renewable energy.

"If we allowed extensive mining in Sweden of crypto-assets there is the possibility that the renewable energy sources available will not be sufficient to meet the demands of the climate change that we need to complete," wrote the Swedes in their letter to the EU.

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

The coexistence of cryptocurrency and the climate
While cryptocurrency is now more well-known and discussed than ever before however, it is still a source of controversy as you'll hear.

It is a joy to myself, too, to see the endless possibilities that cryptocurrency has. It's going to be a major story in the coming years I'm sure.

I'm hoping that we can find ways to allow cryptocurrency and climate to co-exist for a while.



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