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Arif Efendi, an English-based businessman, offers his opinions regarding crypto and Sweden's demand for the EU prohibit Bitcoin mining.Arif Efendi, a businessman, shares his views regarding cryptocurrency and Sweden's plan to stop Bitcoin mining.Arif Elfendi, a businessman from Pakistan, says cryptocurrency has been controversial in recent times. According to Arif Emendi, cryptocurrency has been scrutinized in recent times.He added that there are many positive aspects to cybercash.What's all the fuss about? Cryptocurrency.Although cryptocurrency has been around for more than a decade, it is only in recent years that it is now a common term.Bitcoin and other cryptocurrency-related currencies have been in the news a lot lately. This is due to Sweden wants to ask the European Union, (EU) to not allow the mining of Bitcoins.What's the deal with cryptocurrency?After years of study and investments this is a question I frequently get asked. Let's explore the world cryptocurrency together.What is cryptocurrency?It is basically a digital currency. There aren't any paper bills or physical coins using cryptocurrency. All money is in the form data.Additionally, they are digital currency designed for peer-to-peer transactions that are not subject to central control. Bitcoin is the most popular cryptocurrency. https://siet.ub.ac.id/info/staff/390eac2 Bitcoins and various other types of cybercash are decentralized because they are not governed by a central bank or administrator.One more characteristic of cryptocurrency is the centralization of control, which provides more secure and private since it utilizes cryptography.The advantages of cryptocurrency are numerous in comparison to conventional currency. Due to the cryptographic protocols used to guarantee the currency's existence it is not able to be counterfeited nor debased.A cryptocurrency account is not able to become "into red" because it doesn't have an account balance, from which a deficit could occur.Finally, cryptocurrency allows for instant transactions between parties anywhere on Earth with a fair amount of confidence.What makes cryptocurrency different from stocks, and how can it be utilized to increase their value?The cryptocurrency market is distinct from stock in that cryptocurrency is an electronic currency that utilizes cryptography to protect transactions.They are completely decentralized. https://ventsmagazine.co.uk/arif-efendi-explains-how-crypto-is-used-in-the-football-industry/ That means they do not have an official central bank system or authority to regulate them. The cryptocurrency market usually involves trading and investing in cryptocurrencies.The stock market allows dealers and brokers to trade stock. Stocks are ownership rights in companies and can be traded at a profit or resold for profit, based on the performance of the business.Stock prices fluctuate due to supply and need, overall economic health, the perception of value by investors, the company's growth potential, etc.But, prices for cryptocurrency rarely change more than 1-2% a day.Why is cryptocurrency so popular?Cryptocurrency is rapidly increasing in popularity today. The people who buy cryptocurrency are buying it for the many benefits it provides. Although cryptocurrency information has been around for a number of years, it is now receiving more interest.<iframe src="https://www.youtube.com/embed/7ZcGB1M7Hbw" width="560" height="315" frameborder="0" allowfullscreen></iframe>Cryptocurrency allows people to have the ability to control their money in full instead of having to rely on financial institutions like banks and other. https://www.researchgate.net/profile/M-Efendi It's also distributed, which means that any group, company, or individual can control it. Many people like me are drawn to cryptocurrency due to the possibility of managing their personal finances. https://belleten.gov.tr/tam-metin-pdf/1323/tur What is the reason why Sweden would like the EU to prohibit Bitcoin mining?Despite its popularity the EU legislative body is currently examining new legislation that would prohibit the use of energy-intensive crypto mining conducted in countries within the union.This law was introduced since cryptocurrency miners are using the power supply in Sweden to benefit. https://scholar.google.co.id/citations?user=1H3CimcAAAAJ This has been a popular practice in the field of cryptocurrency mining in recent years.Bitcoin was first created using ordinary processing units. However it soon became evident that the procedure was slow. So, now, cryptocurrency is produced by large mining pools. The Swedes are worried about the fact that these mining pools consume huge amounts of energy. https://www.contactcenterworld.com/profile/arif.efendi/ Open letter to EU: Bitcoin mining in Sweden consumes 1 TeraWatt? each year, according to the authors. The authors include Bjorn Risinger (director of the Swedish Environmental Protection Agency) and Erik Thedeen (director of the Swedish Financial Supervisor Authority).This is enough electricity to power the homes of 200,000 people. According to Bjorn Risinger and Erik Thedeen, cryptocurrency mining makes use of more of Sweden's renewable energy sources."If we allow extensive mining crypto-assets into Sweden, there is the chance that the renewable power that we have will not be enough to support our transition to a more sustainable climate," wrote the Swedes in a letter addressed to the EU.Erik Thedeen and Bjorn Risinger refer to Sweden's climate commitments under the 2015 Paris Agreement.The environment and cryptocurrency could coexistAlthough cryptocurrency is now more widely discussed and debated than any time in the past in the media but it's still in the middle of controversy.It's an absolute pleasure to metoo to see the endless possibilities that cryptocurrency has. I am certain it will stay around and will make headlines in the future.In the meantime, I'm optimistic we'll come up with a solution that allows the cryptocurrency and the climate can coexist. https://www.orientalartauctions.com/object/art3003919-an-ottoman-prayer-book-by-mehmed-arif-efendi-1266-ah-1849-ad