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Arif Emendi, a London-based businessman, contributes to this opinion piece on cryptocurrency.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 lately. According to Arif Efendi an entrepreneur, cryptocurrency has been under attack in recent years. A development that has seen bitcoin grow globally, mining was banned by the EU. https://tinted-tomato-fzmxm6.mystrikingly.com/blog/rethinking-hospitality-navigating-the-post-covid-era-with-arif-efendi-4e0c5558-0642-491b-a09b-4d7dda58fb34 He claims, however, that cybercash is still a great option, with many benefits.What's all the hype around Cryptocurrency?Although cryptocurrency has existed for more than a decade, it is only in the last few years that the term has been made a household word. https://ehlers-mcdermott-2.technetbloggers.de/rethinking-hospitality-navigating-the-post-covid-era-with-arif-efendi-1694696612 Cryptocurrencies have often made headlines and in recent times, they were the hot topic due to the fact that Sweden wants to ban the European Union (EU) to stop mining Bitcoins.What's the matter with cryptocurrency?These are questions that I have asked myself for several years following my investment and research. https://canvas.instructure.com/eportfolios/2388488/Home/Businessman_Arif_Efendi_on_Crypto_Investment Let's get together and get into the world of cryptocurrency.What exactly is cryptocurrency?Cryptocurrency is simply digital money. There are no notes or coins in order for using cryptocurrency. The only method to earn money is via data.Additionally, they are forms of digital currencies designed for usage on peer-to-peer networks devoid of central authority. Bitcoin is the most popular cryptocurrency.Bitcoins and cybercash have aspects of decentralization because they work without a central banking system or single administrator.Decentralized control is a reference to another cryptocurrency characteristic, namely an increase in security and security by using cryptography.The advantages of crypto over conventional currency are numerous. For instance, it is unable to be counterfeited or debased due to the cryptographic protocols that support the currency's existence.Additionally, accounts with cryptocurrency are not "in the red" since cryptocurrency doesn't actually have an account balance from which a deficit could be created.Finally, cryptocurrency allows for instant transactions between any party on Earth that have a reasonable degree of confidence.How is cryptocurrency different than stocks?Cryptocurrency is different from stock in the fact that it is a kind of digital currency that makes use of encryption to secure transactions.Cryptocurrencies can be used as an uncentralized currency. https://click4r.com/posts/g/11907568/ They are not dependent on any central banking system. The market for cryptocurrency typically involves cryptocurrency trading and investing.Stock market is an exchange on which brokers and dealers exchange stocks. Stock represents ownership of the company and can either be bought or traded with a profit, based on its performance.Prices for stocks fluctuate every day because of supply and demand, economic health, perceived value of investors and the possibility of profit from growth in a company.But, cryptocurrency prices fluctuate by less than 1 - 2 percent per day.Why is cryptocurrency so popular?The demand for cryptocurrency in the present day is increasing rapidly. People are purchasing cryptocurrency due to the benefits it can provide. While information about cryptocurrency has been available for many years, cryptocurrency is gaining more recognition.Cryptocurrency is a way for individuals to manage their money, rather than having to rely on banks and other financial institutions. As mentioned earlier, it is also decentralized, which means no person, group or business has ownership of it. This is one of the reasons that draw many individuals to cryptocurrency, including myself.Why does Sweden wish to see EU prohibit Bitcoin mining?Despite the popularity of cryptocurrency mining, EU legislators are currently considering new legislation that will stop energy-intensive cryptocurrency mining any EU member country.The legislation was drafted because cryptocurrency miners are using the power supply in Sweden to their advantage. It has been popularized in cryptocurrency mining in recent years. https://burgess-powers.federatedjournals.com/arif-efendi-explains-blockchains-relationship-to-cryptocurrency-1694696448 Bitcoin was created initially using computers equipped with standard processing units. However, it quickly came to light that it was slow. Therefore, Bitcoin is now created by massive mining pools. These pools use huge amounts energy, which poses a threat for the Swedes. https://etextpad.com/ The authors of an open letter addressed to the EU claim that Bitcoin mining in Sweden utilizes 1 TeraWatt? per year. The names are Bjorn risinger, director of the Swedish Environmental Protection Agency and Erik Thedeen from the Swedish Financial Supervisory Authority.The amount of electricity generated is enough to provide electricity to around 200,000 households. Bjorn Risinger and Erik Thedeen report that cryptocurrency miner uses increasing amounts of Sweden's clean energy."If we allowed extensive mining in Sweden of crypto-assets, there is an opportunity that the renewable energy 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 and Bjorn Risinger refer to Sweden's climate pledges in the 2015 Paris Agreement.The cryptocurrency and the climate coexistWhile cryptocurrency is more popular and talked about than it has ever been, it's still a source of controversy, as you can hear.Ipersonally am a huge fan of cryptocurrency and the endless possibilities it offers. It will be a big news story in the near future, I'm sure.I really hope that in the meantime we can work together to make the cryptocurrency and climate coexist.