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Arif Emendi, a London-based businessman, has contributed to this opinion piece on cryptocurrency.Arif Efendi is a businessman who shares his opinion regarding cryptocurrency.Arif Efendi is a businessman whose views on cryptocurrency has been featured in the news recently. As a result, Sweden has urged the EU to stop bitcoin mining, a development that has spread across the globe.He added that there are still many positive aspects to cybercash.What's the fuss about Cryptocurrency. https://ctxt.io/2/AABQ_BktEg While cryptocurrency has been around for more than a ten year, it's only been in the last few years that it's become a household word.The media has been talking about cryptocurrency and they were recently the topic of conversation due to Sweden's desire for the European Union (EU), to stop mining Bitcoins.What exactly is cryptocurrency and what are all these things about?These are the types of questions I get asked after years of research and investing. Let's discover the world of cryptocurrency together.What exactly is cryptocurrency?Cryptocurrency is simply digital money. There are no physical coins or paper notes. The only way to earn money is via data.Additionally, they are digital currencies that are designed to facilitate peer-to-peer transactions that are free from central control. Bitcoin is among the most well-known cryptocurrency.Bitcoins and various other types of cybercash contain elements of decentralization since they are independent of an administrator or central bank.Another characteristic of cryptocurrency is its centralization of control, which provides enhanced security and anonymity since it utilizes cryptography.The advantages of cryptocurrency over traditional currencies. Because of cryptographic protocols, cryptocurrency can't be counterfeited and isn't devalued.In addition, cryptocurrency accounts cannot be "in the red" because they don't have a balance on their accounts.With a fair amount of trust, cryptocurrency lets for fast transactions among different parties anywhere on Earth.What is the difference between cryptocurrency and stocks?Cryptocurrency is different from stock by the fact that it's a digital currency that makes use of encryption to safeguard transactions.Cryptocurrencies are totally decentralized. That means they don't have any central bank or authorities to manage their use. https://skovsgaard-mann-2.technetbloggers.de/arif-efendi-explains-blockchain-and-cryptocurrency-relationships-1694696743 The market for cryptocurrency is mostly about investing in and trading with cryptocurrency.The stock market acts as an exchange on which brokers and dealers exchange stocks. Stocks represent ownership stake in a company and can therefore be traded or sold for profits based on the results of the business.The price of stocks fluctuates daily because of supply and demand, overall economic health, perception value by investors potential gains from business expansion, etc.But, prices for cryptocurrency typically are not more than 1-2% per day.Why is cryptocurrency so popular? https://ide.geeksforgeeks.org/tryit.php/ad795af7-3caa-4bad-a28b-35a0abbbd52e The popularity of cryptocurrency in today's society is increasing quickly. The benefits that cryptocurrency offers are why people are investing in it. Although information about cryptocurrency has been in circulation since its inception but more people are fascinated by the subject.Cryptocurrency offers people total control over their finances. https://www.openlearning.com/u/gottliebgalbraith-s0yuyy/blog/ArifEfendiWhyCryptocurrencyIsHereToStay It's not tied to banks or financial institutions. It's also decentralized because no one, business, or organization has the right to control it. Many people are drawn to cryptocurrency because they are able to control their money.What is the reason Sweden want to see the EU prohibit Bitcoin mining? https://courses.9marks.org/members/arif-efendiacjn887/activity/551246/ Despite its popularity, EU legislators are currently looking at new legislation that would bar the mining of cryptocurrency that is energy-intensive from being carried out in countries across the union.Due to cryptocurrency miners using electricity supplies in Sweden to make money for themselves Legislation is being considered. This is a well-known method of mining cryptocurrency in recent decades.When Bitcoin was introduced the first time, it was mined using machines that had normal processing units However, it soon was discovered that the process was too slow. So, now, cryptocurrency is produced by large mining pools. They consume huge amounts of power, which can be a problem for the Swedes.According to the writers of an open letter addressed to the EU, Bitcoin mining in Sweden currently consumes 1 TeraWatt? per year. https://penzu.com/p/680757ef The names of the individuals who sent the letter open to the EU are Bjorn Riser director of Sweden's Environment Protection Agency. Erik Thedeen director of Sweden's Financial Supervisor Authority.The amount of electricity generated is enough to provide electricity to around 200,000 households. Bjorn Risinger Erik Thedeen and others affirm that cryptocurrency mining is a good use of the increasing amount of renewable Swedish energy sources."If we were permitted to mine crypto-assets within Sweden and the EU, there's a chance that the renewable energies offered to us will not suffice to support the climate change that is required," the Swedes wrote in a letter addressed to the EU.Erik Thedeen, Bjorn Risinger Bjorn Risinger, and Erik Thedeen are both referring to Sweden's climate obligations under the 2015 Paris Agreement.The climate and cryptocurrency can coexistEven though cryptocurrency is more widely discussed and talked about than ever before it remains a source of controversy.It's an absolute pleasure to metoo to look at the infinite possibilities that cryptocurrency has. I'm sure that it will continue to grow and make more headlines in future.In the meantime, I'm hoping we'll discover a way to ensure that the cryptocurrency and the climate can coexist.