Bitcoin Forum

Just  the end of yesterdays stocks exchange japan right now is leading the market. It shows that japan was not being so quite when it comes to crypto currency. What are your thoughts about this?

I'd be interested to know if Bitcoin prices are quoted in daily business news bulletins yet.

I guess this is to be expected from them especially when they announced few months ago that they will treat Bitcoin as a legal currency for their country and that they will have major retailers/store that will accept them as a payment method. It is just so amazing to think that even though their country is quite small in terms of geographic size, their passion/interest for crypto in general is so huge.

That's not a big news, because once after legalizing bitcoin suddenly the market grew higher as more than 25000 stores started accepting bitcoin as similar to the currency. By that time itself the trading volume peaked high, so after a long journey now this has been officially announced.

Even if in my opinion Japanese really are so weard. They never fail us to excel in most of the things that they do. Whether if it is from their culture, destructive weapons,advanced technology high intellectual capacity and now starting to dominate the crypto currency world is just another stepping stone for a Japanese

Japan were too advamced now that they will not let to miss the advancement of cryptocurrencies the mere fact that Japan is into making things easier and convenient they will really put attention into cryptos since they were already implementing btc as mode of payment legally.

where do you get this data from?
i only know 2 tools: coinmarketcap which is excluding the JPY markets, and in that list there is only 1 exchange with 0 fees and a high volume.
and also this: https://data.bitcoinity.org/markets/volume/30d?c=c&t=b
which is showing JPY to be 9.55% of total while USD is 56.78% of total volume.

also what do you mean by "Stock exchange Japan"? are you by any chance talking about the xcoin (Click Security) which is a forex exchange?

Because Japan did full accepted the potential of Bitcoin even their own government supports it so with this no doubt that Bitcoin's bloom there is like a cherry blossom season.

Japan has already declared bitcoin as legal and that may be the reason behind such a huge trade. Japan is one of the leading country in leading bitcoin users. Even china may have been such due to its high population and also high availability of technology. japan was not at least expected by me to be the most efficient users in bitcoin.

The Japanese government is way ahead of the game. And here we are in the US trying to keep our dollar afloat   ::)

It's crazy the kind of impact a few trade & economic laws can make on the culture and future wealth of a country.

I agree with you, Japanese market is the first market in the world to value Bitcoin and see Bitcoin as a means of payment in the country. I think this will motivate more Bitcoin users in the future

Japan is having the highest volume because Bitcoin is 100% legal in that country, unlike the situation which we have in other countries such as the United States (it is not 100% legal there), Russia, China and India. And Bitcoin has risen from $1,000 per coin to $3,500 per coin solely as a result of the demand from Japan. Just imagine how much it can rise further, if China legalizes it.

I'd love to hear thoughts from someone living in Japan. Is it just trading, or people are using it in groceries, subways etc.
 
The truth is always further than what it seems.

Nope, it is not BS. We have seen reports from all over that Japan is becoming the new Bitcoin Hub. The government is also Bitcoin friendly, and this makes merchant adoption a lot easier. https://news.bitcoin.com/rollout-of-260000-bitcoin-accepting-stores-in-japan-begins/

You will see a lot more merchants coming on-board, once SegWit lock-in. The spam attacks slowed down merchant adoption, because it painted a bad picture of what Bitcoin was supposed to be.

Great news. If more Asian countries follow Japan one day, the price of Bitcoin could start to sky-rocket.

maybe not for groceries but there are a lot of shops around Japan that have started accepting bitcoin as soon as it became a legal method of payment and then a lot more started accepting bitcoin when the taxes on bitcoin payment was removed.
it is a slow process until people start using bitcoin on a wide scale, you can not expect that overnight people suddenly start spending their bitcoin all over the country.

I didn't expect anything different from Japan. This is the country that create trends in technology and fashion. So, I think in couple of years other countries will take their experience and create something their own on this base.

The MtGox land rises again.

Wasn't without reason that the biggest exchange in the early days was Japanese based. They have tech in everything

Japan has officially become the world's largest bitcoin exchange market by taking over US and china.

Zero fee trading has made it possible to reach this position.

China has been pushed to third place since it has halted its BTC withdrawals in february.

Surprisingly,Poland has reached the sixth place.

We could soon expect South korea also to join the competition as bitcoin has to be soon legalized in south korea.

It looks that the country of Japan is taking a serious steps toward bitcoin and it reflected in the volume of trades in bitcoin and i think that it will have a bigger volume in the future because we all know that Japan is one of the newest country that made bitcoin as a fully legal currency in their country and that is the advantage of the pioneers because they can really enjoy the benefits of bitcoin like huge increase on their investment for the recent price pumps.

Not really surprising to read, but could you provide a link to it. As far the volumes are concerned, it was about to happen as they are a big Country in Asia, and they know the importance of technology, they are the pioneers in driving this technology. Plus their airlines were also about to accept it. There was news that even Olympics were supposed to accept it, but don't know what happened. After China, Japan has been really instrumental in rising the prices.

Japan seems to be one of the first countries where Bitcoin is accepted in the "Everyday-Life".

This article from cointelegraph supports this:
https://cointelegraph.com/news/major-japanese-retail-chain-marui-now-accepts-bitcoin-payments

One thing is puzzling me: Bitcoin was not designed for the paying products in shops, due to its restrictions in transaction speed. So, hopefully it will work in Japan anyway - otherwise it could also show that Bitcoin does not work in this field ... which would be bad for Bitcoin's reputation

That is where bcc comes into play :p

Haters gonna hate! :p

I think their willful acceptance of Bitcoin has paid off and nobody will be surprised if they make even bigger strides going forward. It is about time other countries realize that Japan and the likes who have made these bold decisions to legally allow Bitcoin in their respective jurisdictions are going to benefit immensely financially and so the earlier they do same the better. I'm the least surprised about their trade volumes really.

I have been expecting this for quite some time. There is a build-up of excitement and Bitcoin volume in Japan primarily because their government is recognizing Bitcoin as a currency and it is very legal in the country. Japan leads the way on this arena and we have to thank the Japanese leaders for opening up their mindset and seeing the many possible benefits that Bitcoin can bring to the country.

Now, you have to couple that with the fact that Japanese are very speculators and they have a sizable amount of savings that they can use for any venture. All of these factors are working together right now, making Japan as one of the best market for Bitcoin, that is if it is not the best already.

We have many things to learn about the Japanese market...and I think other nations should take notice of how Japan welcomed Bitcoin with open arms.

China was pushed down because
1. introduction of trading fees (prior exchanges there were just putting up artificial buy and sell to boost their exchange ranking, once the government forced exchanges to charge, the transaction dropped alot. After the drop they were still no2 iirc.

2. After the government instituted withdrawal it dropped further but the the withdrawal halt is not lifted, you can withdraw freely.

I think Japan is a country that very interested about technology. This makes them quickly accept anything, especially technology to advance their nation including bitcoin. They always want to be the best if it's related with technology, because their society has been aware the importance of technological developments, so with pleasure they are accept it. This is what makes the development of bitcoin in Japan is currently very rapid, evidenced a lot of places that receive payment using bitcoin.

I think there's might be some relation between a bitcoin trade volume in japan, with a news that right now, merchant in japan are accepting bitcoin. even the big dept store are deciding to accept the bitcoin payment method. Japan is one the country that have a great technology facility, Its not suprisingly that the country will do a big adopted to bitcoin.

Japan has been known for high end technology for decades.
And the people there profit from it a lot, and usually are up to date on what is the future.
If They have those high amounts of Bitcoin tradings, I am sure we are on the right path.
As long as they do not sell everything at least.

Yes, government of japan has the main role behind this success. Government of Japan supported bitcoins and it gradually jumped a lot over there. I have never thought that Japan would be the leading share holder of bitcoin. Even if the government from other countries support bitcoin, it will move with a rocket speed.

Japan has always been one of the first to introduce advanced technologies and its interest in them has always been very large. It is not surprising that even now it is practically the leader in the volume of transactions in the field of digital currency. The circulation of crypto-currency in the country there has already been legislated and a minimum 8% tax on profit from the crypto currency has been set. In general, the Japanese are great, they should admire.

This is not a very shocking news at all. Japan has been one of the first handful of countries that supported all out to Bitcoin. And now, this is another great news all the way from the Land of the Rising Sun!

Great job, Japan! You are always one step ahead!

So what do you guys think what if japan will be hosting the largest mining farm in the world instead of china? Would it be more Beneficial for us or there would be no similarities for our current situation?

All predict the same thing but unfortunately there is no development of the big miners from Japan, in terms of technology and readiness may be more qualified japan but now they are still focusing on the development of bitcoin market in the country, I also have not seen any news bitflyer is used by the globa tradersl, I think they are still in the preparation stage.

since Japan has been officially becoming one of the earliest country legalizing bitcoin, it has no surprise that more people are using bitcoin thus bitcoin volume of trading in Japan is skyrocketingly high.

Well, I got the point  unlike china where everything is so cheap. Japan has a high cost of living which really not good for an aspiring miners well anyways ill just have to move on in this matter

I don't think that you mean stock exchange and more likely crypto exchange. Unless they started to trade cryptos on their respective stock exchanges (like the JSX I believe it is called), which would be a pretty cool step for them as a country exploring the crypto economy.

It makes a lot of sense to see Japan have a huge volume of Bitcoin trade now, especially since their government fully legitimized it (even after Mt.Gox). Their population also seems like a group that would be particularly interested in getting involved with something like Bitcoin, when you're considering the mindset of that country as well.

Every one like to make profit and Bitcoin is a very profitable things, no wonder people like to trade Bitcoin and with governments already legalized the citizen getting more excited about Bitcoin and Bitcoin does gives more profit than other investment

The japan discovered bitcoin (satoshi nakamoto who discovered bitcoin) so they know that how they can use bitcoin and they are the first so they are many bitcoin user and also scammer.

Japanese discovered bitcoin and Japanese are first to use in which it helps there economy to grow more therefore it is right that they will earned and enjoy the initial sucess of bitcoin. I wish our govertment will do such regulations to improve our economy.

For me personally, japan is a country that has a high consistent level. So in my opinion, if Japan accept bitcoin it is certain they will focus more on bitcoin market and do not rule out they also use other cryptocurrency, but the volume is not too big. So, that's not a problem for all of us. Because every country and person has a desire to do something, respect and better be selfish in order to get a bigger profit