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Arif Efendi A businessman from London is quoted in an op-ed about his view on cryptocurrency and Sweden's request to the EU to stop Bitcoin mining.Arif Efendi is a businessman who is a skeptic regarding cryptocurrency.Arif Efendi is a businessman whose views on cryptocurrency has been in the news recently. According to Arif Efendi, who is a Swedish businessman, cryptocurrency has been under attack in recent years. This is a phenomenon that has grown globally.He also said that there are numerous positive aspects of cybercash.What's the fuss about Cryptocurrency and its hype?Although cryptocurrency has been around for more than a decade year, it's only been within the last few years that it's become a household phrase.The cryptocurrency market has often been the subject of headlines and recently became the topic of conversation because Sweden is urging the European Union (EU) to prohibit mining Bitcoins.What's the significance to all this? http://www.checkcompany.co.uk/director/10391833/MR-ARIF-EFENDI What exactly is cryptocurrency?These are the common questions I have encountered over the years of investing and research. Let's discuss it, and discover the world of crypto.What exactly is cryptocurrency?Cryptocurrency is simply digital money. It doesn't require physical notes or coins to make use of cryptocurrency. The only way to make money is to use data.Additionally, they are forms of digital currencies designed to be used on peer-to-peer networks without central authority. The most well-known cryptocurrency is Bitcoin.Bitcoins and cybercash also have elements decentralization as they work without a central banking system or single administrator.The decentralized control is tied to another cryptocurrency characteristic: enhanced anonymity and security due to cryptography.<iframe src="https://www.youtube.com/embed/1YyAzVmP9xQ" width="560" height="315" frameborder="0" allowfullscreen></iframe>There are many benefits to cryptocurrency over traditional currency. It isn't easy to counterfeit or debased because of the cryptographic protocols that assure its existence.A cryptocurrency account can't be "into red" since it does not have an account balance, from which a deficit may occur.Additionally, cryptocurrency permits fast and instant transactions between parties from all over Earth with a fair amount of confidence.What is the difference between cryptocurrency and stocks?Cryptocurrency is distinct from stocks in the sense that it's a form of digital currency that uses cryptography to secure transactions.The cryptocurrency market does not have a central bank system. The cryptocurrency market is a place for investing and trading.Dealers and stock brokers trade stocks on the stock market. A stock is an ownership interest in the company. It is traded at a profit , or exchanged for cash depending on the performance of the company.Prices for stocks fluctuate daily because of supply and demand and economic health overall, perception value by investors, potential gains through company expansion, etc.However, cryptocurrency prices rarely fluctuate by more than 1 percent per day.Why is cryptocurrency so popular?The cryptocurrency market is growing rapidly in popularity right now. The people who buy cryptocurrency are doing so because of the benefits it offers. While information on cryptocurrency has been in circulation since the beginning but more people are fascinated by it. https://www.unwomenuk.org/product/marina-perez-simao-arifefendi Cryptocurrency allows people to have complete control over their money instead of relying on banks or financial institutions. As I mentioned it is also uncentralized. This means that it is not the property of any particular person, group, company or any other entity. Many people like me are attracted by cryptocurrency because of the possibility of managing their own money.What is the reason Sweden want to see the EU prohibit Bitcoin mining?Despite its popularity EU legislators are currently looking at new legislation that would bar the mining of cryptocurrency that is energy-intensive from being used in any country in the continent. https://acikerisim.uludag.edu.tr/handle/11452/14743 The legislation was drafted since cryptocurrency miners are using the electricity supply in Sweden to their advantage. In recent times, it has become an increasingly popular way to mine cryptocurrency.Bitcoin was initially developed on normal processing equipment. However it soon became obvious that the procedure was slow. Most cryptocurrency today comes from large mining pools. These pools use huge amounts power, which can be a problem 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 writers include Bjorn Risinger (director of the Swedish Environmental Protection Agency) and Erik Thedeen (director of the Swedish Financial Supervisor Authority). https://www.imdb.com/title/tt0254001/characters/nm0022342 This amount of electricity is enough to supply power to 200,000 homes. Bjorn Risinger and Erik Thedeen claim that cryptocurrency miners consume more and more of Sweden’s renewable energy."If we allowed widespread mining in Sweden of crypto-assets, there's a danger that the amount of renewable energy available will not be enough to meet the demands of the climate change that we need to undertake," wrote the Swedes in their letter to the EU.Erik Thedeen & Bjorn Risinger are two terms used to are used to refer to Sweden's climate commitments in accordance with the 2015 Paris Agreement.The coexistence of climate and cryptoWhile cryptocurrency is now more popular and talked about than ever before however, it is still a source of controversy as you can tell.It's a pleasure for me, too, to be able to envision the endless possibilities of cryptocurrency. It'll be a major news story in the future I'm certain. https://www.tiktok.com/@MS4wLjABAAAA-r3IrzsxRirDQc0mLtA9c0wQohri4FiyEutrjM0VreNN3RBJZ0-TTxf_TjeoDasI I am hopeful that we will find an avenue to allow cryptocurrency and the climate to coexist in the interim.