Notes

Arif Elfendi Why Cryptocurrency is Here to Stay
Arif Efendi, an English-based businessman, offers his opinions about crypto, as well as Sweden's request that the EU prohibit Bitcoin mining.
Arif Efendi, a businessman has his own opinions about cryptocurrency and Sweden's plans to stop Bitcoin mining.
Arif Elfendi businessman from Pakistan claims that cryptocurrency has become controversial in recent months. According to Arif Efendi cryptocurrency has been featured in the news lately.
He said that there are many positive aspects to cybercash.

What's the fuss concerning Cryptocurrency?
Although cryptocurrency has been around for since the beginning of time however, it's only recently been made a common phrase.

Cryptocurrencies have often made headlines and recently became the talk of the town due to the fact that Sweden would like to ban the European Union (EU) to stop mining Bitcoins.

What is cryptocurrency ? And what does it all mean?

These are the types of questions I often get after many years spent researching and investing. Let's get together and get into the world of cryptocurrency.

What is cryptocurrency?
Arif Efendi Digital money is crypto at its most basic. There aren't any physical coins or paper bills with cryptocurrency. The only way to make money is to use data.

They are digital currencies that are able to be used in peer-to-peer network without central authority. Bitcoin is the most popular cryptocurrency.

Bitcoins as well as other forms of cybercash are not centralized since they do not have a central banking institution.

Decentralized control is related to a different characteristic of cryptocurrency that is enhanced security and anonymity because of its use of cryptography.
There are many benefits to cryptocurrency over traditional currencies. It isn't easy to counterfeit or devalued due to the cryptographic protocols that guarantee its existence.

Additionally, accounts with cryptocurrency cannot go "in the red" since cryptocurrency doesn't have a real balance, from which a deficit can be derived.

Arif Efendi Additionally, cryptocurrency permits fast and instant transactions between people anywhere on Earth with a reasonable degree of confidence.

https://artofhealthyliving.com/why-legalize-cannabis-arif-efendi/ How does cryptocurrency differ from stocks?
Cryptocurrency is different from stocks in the sense that it's an electronic currency that utilizes cryptography to secure transactions.

Cryptocurrencies have no central banking system and are decentralized. https://www.imdb.com/title/tt0254001/characters/nm0022342 The market for cryptocurrency usually involves investing and trading in cryptocurrency.

The stock market is where brokers and dealers trade stocks. Stock represents ownership of a company, and it can either be bought or traded with a profit, based on its performance.

Prices for stocks fluctuate daily due to supply and demand and economic health overall and the perception of value by investors and potential profits from company expansion, etc.

But, prices for cryptocurrency rarely fluctuate more than 1-2 percent each day.

Arif Efendi What is the reason why cryptocurrency is so popular?
The cryptocurrency market is growing rapidly in popularity today. People are purchasing cryptocurrency because of the benefits it can provide. Arif Efendi Information on cryptocurrency has been around for many years, but more recently cryptocurrency has been arousing curiosity, which has led to more cryptocurrency transactions than at any time before.

Cryptocurrency allows people to have complete control over their finances instead of having to rely on banks or financial institutions. It's also decentralized which means that no individual, group or company is able to use it. The ability to be the sole owner of your money is the reason that draws lots of people, like myself to cryptocurrency.


What's the reason Sweden want to see the EU prohibit Bitcoin mining?
https://www.dreamstime.com/arifefendi280_info Despite its popularity it isn't currently being considered by EU legislators. They are currently examining the possibility of introducing legislation that would hinder energy-intensive cryptocurrency miners being used throughout the EU.

This legislation was proposed since cryptocurrency miners are using the power grid in Sweden to benefit. It is now a well-known method for mining cryptocurrency in recent times.

Bitcoin was initially created with computers equipped with standard processing units. But, it soon became evident that it was slow. Bitcoin is now generated using large mining pools. These pools consume huge amounts energy, and this is something that is a concern for the Swedes.

According to the authors of an open letter to the EU, Bitcoin mining in Sweden is now consuming 1 TeraWatt each year. The names of the individuals who sent the letter open to the EU include Bjorn Riser director of Sweden's Environment Protection Agency. Erik Thedeen director of Swedish Financial Supervisor Authority

This electricity is enough to power the homes of 200,000 people. Bjorn Risinger Erik Thedeen and others claim that cryptocurrency mining uses the increasing amount of renewable Swedish energy sources.

In a letter sent to the EU, the Swedes stated that allowing extensive mining of crypto-assets from Sweden could lead to a shortage of renewable energy sources to meet the required climate change.

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

The climate and cryptocurrency can coexist
Although cryptocurrency is more widely discussed and well-known than ever before, it remains controversial as you'll hear.

It is a joy to myself, too, to be able to envision the endless possibilities of cryptocurrency. I am sure it is going to be around for a while and it will create a lot more news stories in the near future.

I really hope that , in the meantime, we can work together to ensure that the cryptocurrency and the climate coexist.



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