Bitcoin Forum

http://asia.nikkei.com/Politics-Economy/Policy-Politics/Japan-eyes-treating-bitcoins-the-same-as-real-money

Japanese people are brilliant, not using  bitcoin would proof that they are not that smart after all .

I wonder what influence that would/will have on Mt Gox?  If all of a sudden they didn't steal out crypto, rather they took our money, that would surely increase the severity of any punishments doled out, as well as possibly increasing the final payout to those who were stolen from.

I bet they don't back date it, or take into account Mt Gox though.  Still good that Japan is moving the right direction, or is it that they can charge a negative interest rate on it if it is real money?!

basically calling them "assets"


so like other assets which by definition are a form of currency, but that does not mean that its treated the same as FIAT.

Already Japan has a positive response towards bitcoin. Recently got a news about the issuing of their own digital currency. Even if this happens soon bitcoin would get a good recognition in other countries too.

Exactly, he/they could be actually from any part of the world.

Bitcoin being place in headlines is great especially in a country where most people are busy working their ass off. Not sure though what other crazy ideas will Japanese do with Bitcoin if it becomes a native currency.

Not only Japan! "Hopes are high for the currencies as both investment targets and low-cost methods of payment. Monetary authorities worldwide are setting out to regulate the technology, starting with measures to prevent money laundering and other illicit activity."

I'm so excited about all this! I feel like living a true revolution!!  ;D

Do they have the permission from Satoshi Nakamoto?

haha i think they certainly have permission from satoshi lol  ;D

I think this is the start if journey for the recognition of bitcoins by governments. I feel I'd others follow suit then things will look brilliant

It was to be expected after the Mt Gox fiasco and the prevention of further bad press for the country. Like they say, "  Under the FSA's proposed definition, virtual

currencies must serve as a medium of exchange, meaning that they can be used to purchase goods and services. " Regulation would help to protect the consumer,

but it would also stifle innovation, if it is too strict and expensive. {Example BitLicense New York}

then they are not understanding what bitcoin really easy, and it is not only an asset for speculation, but an instrument of payment principally...

So if I am understanding this correctly?
They will remove their current currency and use bitcoin as the standard?

Or will they just accept bitcoin as a alternative currency?
And provide a safe place for people in japan to trade bitcoins?

It seems that they would try to tighten it's freedom in order to increase the security of it among users there and most affected one's would be those exchanges that operate there in Japan and normal people as well. Although what their trying to do is for safety purposes, I'm afraid their going to mess the whole situation even further up by getting involved directly.

As long as they don't consider it to be illegal, then it's not necessarily all bad.  In what ways are they going to regulate?

This regulation will hit the Japanese exchanges the most because they will need to obtain a license from the government to continue operation. Anyway Japan is a forward-thinking nation they will figure this out no worries  ;)

nop i did it

the blockchain is the instrument of payment. the protocol linked to satoshis genesis block is the instrument of payment. but bitcoin is becoming the term to use for the units/tokens. not the protocol.

EG
"bitcoins blockchain" can be compared analogically as visa america
bitcoin can be compared analogically as dollar
"litecoins blockchain" can be compared analogically as visa europe
litecoin can be compared analogically as euro

thats why "blockchain" buzzword is becoming a thing.. not only because its a better term than 'cryptocurrency' but it also helps define what people are talking about when they use the word 'bitcoin' as its not good to call the token, the ledger database and the protocol code, just bitcoin.

It is a great information if its is true since it will be the beginning of a new era and bitcoin will be accepted by other countries as well in near future. Hope for the best and pray it may come true very soon.

It is good and bad at the same time. Recognizing bitcoin as 'normal' currency is great move. But you have to realize that will mean subjecting them to tighter oversight.
It will mean consumer protection at the cost of restrictions and maybe harsh laws. Are we ready for bitcoin licensing?

But can they license it? I mean, this is the best part of bitcoin. No one can control it.

Nakamoto Team ?


http://nakamotogroup.com/Corrections.aspx

http://imagizer.imageshack.us/a/img903/5932/Suzhvq.jpg


WRONG WAY AHEAD.

Bitcoin can not be regulate ... at all.

Its good that Japan wants to see Bitcoin as a normal currency, we need a first country that recognizes it as money. Some users are afraid about after that exchanges could be asked for licenses, but after MtGox, Cryptsy... I don't expect that bitcoin were regulated by governments, but could be good that exchanges need some regulation to be more secure for new bitcoin users.

It fits that Japan would be first to recognize it as money.  I will be interested to see how this process works, other countries could follow leading to more adoption. Good news.

A country will never use BTC only currency unless its real money would inflate down to - 10000% ..

Anyway Japan is a hi-tech country and maybe BTC will spread faster there than anywhere else.

But Nakamoto is American or British

in his forum posts he had perfect english typical to a native speaker. might have been a Japanese American though

This is good for BTC as japan is one of the smart people.

It´s only natural that this is happening. Satoshi Nakamoto the inventor of bitcoin is from Japan. Of course it would be easier to have an influence like this on his own country.

If such regulations comes to reality. Large number of users can be found over the regions of japan too. So as China make changes in market price of bitcoin, japan too will make fluctuation with its increased users.

If this thing is real then there are a lot to be considered before taking the next step.
The first question could be: Will the people accept it? Can they adapt through it or they are too lazy to know what it is?

Risk and maybe some good news can be seen but it will be hard.

I am afraid if Japan is serious in doing this,would hamper the growth of bitcoin. By regulationg bitcoin, means they want to control bitcoin in thier country? I think its a wrong move but, maybe they know more than us.

Venezuela is getting close - inflation there of 720% (I kid you not).

But they are reacting with force against those who use BTC (miners being arrested etc).

Where are you getting this information from? Satoshi Nakamoto is a pseudonym and nobody knows where he or she or they are from. I can also grab a fake name from a movie or a story book and

nobody will be able to track my origin based on that. Satoshi, might even have chosen that name, to redirect their search and confuse the people looking for him. {For this discussion, I will refer to him

as a man} Japan can claim nothing based on the name Satoshi chose... It's just a name.  ::)

that's really nice. if an advanced country like Japan accepts bitcoin as money, the other countries will probably follow it's stepfoot. however, hope bitcoin will be mainstream

This is good news. A push forward in the right direction!

Japan is usually pretty restrictive in nature,just look at how many people they allow to settle there or the food restriction in trade.
If anything bitcoin will be stifled with Japanese regulations.

Japan tends to be very advanced, but also to put on regulations on things, that is true. Let's wait and see what happens.

You are completely wrong, IMO. Satoshi Nakamoto is just a pseudonym, and his/her/their identity is yet to be known AFAIK, and there is no substantial evidence that he/she/they is a Japanese. For instance, my name is Bruce Lee, but I'm not a Chinese. (No, Bruce Lee isn't my name.)

They should do as well... There is few differences between dollar and btc because dollar has no gold standard... Dollar is just a digital currency like BTC... Dollar is supporting by US government and older than BTC, that's all...

Japan really needs to get something going their population is on a downward spiral and China is getting more aggressive.
The first Country to really jump into the future is going to get all the spoils as the rest play catchup. The cyber economy is going to blossum with this virtual reality door opening. Fear like others have stated that Japan will be overbearing in the regulations.

It indeed is a good news if it is true.If Japan government accept the existence of bitcoin as a currency,it will boost the popularity of bitcoin worldwide.It will also add to Japanese economy as many Japanese e commerce site would star accepting Bitcoin

It's great that they're finally accepting it as a true currency, but I fear that it will cause the kind of government control that Bitcoin hoped to avoid in the first place. At least it would be like herding cats if they ever do try to pull a quick one...

Now they will fund research in miners that are exclusive to the Japanese government that will be more powerful (and maybe more energy efficient) than the current Antminers :(

Yeah he has of course more influence there then in other parts of the world because he is from there.
i think it would be very difficult to get this to happen in other countries.

bitcoin create by japanese,and of course its make sense if japan try to be first country that regulate bitcoin as currency,and i think japanese peoples will support this,because i know so many people on japan love bitcoin,and also so many bitcoin exchange in japan,lets wait next news about this,and i wish japan would be the first country ever that make bitcoin as currency in their country.

Japan has always been a pioneer in many technological fields. so i am so glad to see that they are once again proven that they want to stay with the technological advances and embrace the future instead of living in fear of it like many other countries.

Yup, they have a good feeling in technology, Because they can predict the future, that's why they believe in Bitcoin.

it would be a huge thing for bitcoin. if they stop just considering and actually regulating bitcoin in their country, i will expect a big movement (even bigger than halving effect) in bitcoin price.

Little by little bitcoin is getting support from various countries. As a part is this from the japan regulating bitcoin as a currency.

That would be interesting in a way, Of bitcoin being treated like a legal currency and therefore getting more accepted, not thrilled by the word regulating since that mostly means tons of restrictions though..

japan again,they found bitcoin,and then they want be first country that can regulated it,always japan who lead the future. but i can fully believe that this is will happen with easy and without any problem. lets wait what effect f regulation to us as non japanese people.

Regulation is the one thing that stops me from thinking Japan will do this in a open gesture towards bitcoin. Regulate to control seems more like the agenda for them and can see other Countries falling into this mindset.

This can be possible because the inventor of Bitcoin is from Japan so it normal for Bitcoin to have more a an influence in Japan. I hope everything works out for him and Bitcoin.

japan supports bitcoins

i think this is great news Japanese as one of the big countries in asia have proposed handling bitcoin as equivalent to conventional currencies
and i thought this is will good for future of bitcoin and bitcoin users

it seems that every country is following the same logic.

when something cannot be controlled, its far far easier to first of all make it illegal. and then secondly make new laws to allow a certain type of person to be allowed to use it.

this logical method is easier then just trying to make only certain people allowed to use it without making it illegal first

I also not sure about it. Satoshi Nakamoto is not from Japan. Although the name seems like Japna or korean but he was not from these country.
The only thing confirm is that he invested the greatest idea, the digital currency

For sure this exact issue has been addressed in a global banking forum a few times and they have decided to restrict its nature and are all slowly working towards doing this. Its to clear when you see multiple countries pushing the same rules,bills and laws.

Various technological advancement were put forth to the world by Japan. Also I have seen them better in robotics technology, so can expect mining with the help of robotics technology for their own cryptcurrency generation.

i love the fact that a lot of different countries in the world are beginning to realize the power of bitcoin and the demand it has created in the world and the people in their country.
and that is the only thing they can do they have to regulate bitcoin since they can not control it if they don't, this way they take back some control.

Japan should Consider Regulating Bitcoin as Currency. Once they do it, more countries of the world will follow. I think Bitcoin is very good for thrid world country as it will give them relief from IMF and other organizations.

Since bitcoin is invented by Japanese, Japan is the world most Bitcoin friendly country.
If they don't realize this, this will be a sad story.

It is assumed that Bitcoin was invented by a Japanese person, there isn't really any evidence to support that though. For all we know it is an anagram or some other code name, or even just a generic name.

I don't doubt it was invented by someone who was Japanese, but I just want to clear up that there isn't any evidence yet.

For all we know Satoshi Nakamoto may be an alias. There is no guarantee he/she is Japanese. I think I have read somewhere that they did a research on the writing style and allegedly based on the type of words used it was concluded that Satoshi may be a British citizen. I don't know what to believe any more.

Nice question ;D

It definitely is an alias. Whether it is an alias for somebody who is Japanese or not, we do not know.
I don't think the nationality of Satoshi matters in any case.

Lol how would they even contact Satoshi Nakamoto if the person/alias himself/herself has not yet revelead himself/herself to the public. Satoshi Nakamoto remains anonymous after contributing such good idea to our world. If they get a permission from the real Satoshi Nakamoto, then that would be on the news. Because they got to talk to the reason why all of us are here in bitcointalk forum in the first place. ::)

not easy as you hope,if japan legaling bitcoin as local currency,other country will not easy to follow do that,japan is big or maybe biggest country who learn to developing bitcoin,but not with other country. and so far IMF do nothing with bitcoin.

Could see Japan laying the ground work but they need to be on the same level as other Countries in their restriction for them to stifle bitcoin in any way.
With all the issues in Europe I doubt they get around to figuring out how to take bitcoin into regulative stages.

I think we all have to decide to regulate bitcoin as a currency, as bitcoin is a useful currency and if we want to make it successful and establish all over the world and to make it a stable currency, we have to regulate it as a normal currency.

always good news when bitcoin accepted very well in some countries,and japan will give us any hope that bitcoin can be more than now,i believe in future not only japan who considering this,i wis europan country will don better than japan.

Well, this is the internet afterall. Of course we just can't believe everything the internet says. I can't even believe these science websites at some times because at some point, what they post are just random stuff that are either not proven, or just made-up stuff they post to gain views.

If Japanese government regularise bitcoin,it would be the first country to do it and there must be a reason for them to do this.It only going to make this assumption stronger that bitcoin was born in Japan.Maybe Satoshi is campaigning for bitcoin there to be regularised and with all the wealth that he has,it is just possible for him

It has been talked about in plenty of Countries,Japan just seems to be the one driving the fastest at the moment.
Japan needs something to drive the economy as they age and the kids have no children they are facing some dire problems with staying a float. Also the earth quakes love them in a bad way.

It is a great information . Hope for the best and pray it may come true very soon.
Since it will be the beginning of a new era and bitcoin will be accepted by more countries as well in near future

G7 promises aggressive action on 'financing terrorism'

Talks in Japan focus on "terror-funding" and tax evasion, but finance ministers disagree on how to boost global growth.



Would it be a reach to think they addressed bitcoin with their thinking of raising taxes in the current global downturn?
Think we are heading more toward having bitcoin submit so it is not a issue when rates are increased to pinch the common folk tighter.
Just not buying Japan is on board with bitcoin being free and open source as we may think they are.
History does not point that way at all.