Bitcoin Forum

with bitcoin price breaking the $4000 price barrier we are on the rise to the moon.

meanwhile looking at the market, the Japanese are showing an extraordinary demand for bitcoin. currently 46% of the total volume comes from Japan in August alone. source: CryptoCompare

there is obviously an increased interest from investors in bitcoin instead of alternatives such as gold, stocks and bonds these days and that is growing fast.

https://i.imgur.com/RG4w8dL.jpg

read the article here: https://www.cnbc.com/2017/08/12/bitcoin-vaults-to-new-record-above-4k-boosted-by-japan-and-multiplying-its-value-fourfold.html

46 percent? That's an insane amount of volume they're pushing through their exchanges, what in the hell is pushing that kind of demand within Japan? Is it just speculation or is the Bitcoin economy really that alive within the asian island?

I feel worse that I wasn't dumping money into Bitcoin considering the recent market swing, maybe I should really start looking into it before the market explodes upwards. Very, very impressive to say the least. That's absolutely insane.

If there are any Japanese online right now, would you mind weighing in and giving your opinion as to what your thoughts on the reason for the demand being so high?

Just imagine what will happen if countries such as China and Russia legalize Bitcoin. We will witness similar (or even higher) volumes from each of these nations. Even if the Bitcoin ETF was approved by the SEC, we could have witnessed 10x volumes from the United States alone.

46% is too small, it should be at least 70% ;D
have you forgotten that Japan is the first and biggest country that has officially adopted bitcoin?
i dare say it is the only country that has legally announced bitcoin is a "legal method of payment". that alone shoots the adoption and consequently the volume and price high.

on top of it all, Japan has the biggest Forex broker in the whole world according to statistics of last year. that Forex broker has added bitcoin to their platform.
read about it here: https://bitcointalk.org/index.php?topic=1941988.0
3 months ago i speculated this will have a huge effect on bitcoin price.

Does that mean Japan has the most owned bitcoins all over the world? If it's true then it will make their country more richer. This is a big step and smart choice at the same time.

well, higher volume only means there is a lot of trades on their exchanges. that is what the source reports. that doesn't necessarily mean the people in Japan "own" more bitcoin.

but also at the same time, as i said above the fact that this country has legalized bitcoin as a "legal method of payment" and also using bitcoin as payment has 0 taxes means a lot of people will buy and own bitcoin just to use it as payment. and there are already about 300,000 merchants there reported to be accepting bitcoin, tax free. that is a big distribution of bitcoin over the country. and helps the growth a lot.

The prices of Bitcoin has risen exceptionally none would have expected it to reach 4k so soon, it's making a mockery of all other investments. Available in the market. I am not really surprised that Japan is leading this revelation, cause they are one of the leading Asian country to actually regulate it, then they can use it now as a currency so it's very good and efficient for them.its given their economy a solid boost, wonder when will other countries get the hint.

it is not really that hard to believe though!
and it is not unexpected either. many speculators were predicting a near $4000 price by now (a little lower like <5% lower) and here we are at their speculation.

besides, it is the adoption, it always happens like this. a very slow rise at first which is nearly stable then it speeds up at first with some corrections, and then it speeds up a lot. we are still at that first speed up which is small.

Hot damn! I though japan was fairly into bitcoin especially due to how technologically advanced they are. I guess the next time I see bitcoin getting pumped up, I'll think of Japan. 46% Holy crap...

Does that mean the people in Japan own almost half of all the bitcoin is held by people in japan, or is it something else?

0% tax huh. No wonder the Japanese crowd is diving in. Not to mention the legalization of bitcoin in Japan months ago. Good for them. Meanwhile in the United States.. people need to use capital gain or loss tax treatment on sales and exchanges, correct me if I'm wrong, but if I remember correctly the capital gains tax percentage in the United States can go up to 35%? I feel so sorry for the American crowd.

It doesn't mean that people in Japan own almost half of all bitcoin, it just means that they trade at lot.
Somebody could be holding on to a couple of million bitcoins and they just wouldn't show up in the trading volumes at all.

Ah, okay thanks for the information. I just never knew what total volume, so thanks for clearing that up.

Is there any information we could get on which country has the most or least bitcoin, I would love to see a figure like that and it would really put things in perspective.

The top 5 countries were bitcoin is in demand are: Japan, the U.S., China, South Korea, and India

China is still the third while India where bitcoins were not that popular earlier have reached the top 5 market volume where maximum users trade on exchanges like unocoin and coinsecure.

Every since bitcoin is said to be legalized in India, the demand has increased and same is the case with South Korea too. China is far away in that matter while since Japan is leading, they should take a step too. Many stores too are accepting bitcoins and the recent price increased because of their market trading volume only. From US, it's 25 and others are 12% each.

Go Japan!!!! .....They should get rewarded for their bold decision to legalize Bitcoin as a currency. I spoke to a friend in Tokyo

recently and he says Bitcoin is growing like crazy. People are saying it is the next "Gold"  ;D .....I can just imagine what will

happen when other countries do the same ----> $10 000 per Bitcoin ...here we come!  ::)

Its good to see the value of bitcoin reaching new all time highs. Its good for all the people who invested in bitcoin. Seeing it valued more than+$4000 just makes me believe that it might reach $10000 by the end of this year. All the speculations which were made some time back are coming true.

Bitcoin will soon reach $5k or more and Japan who has legalised and done most of the investment would have made a huge profit.Japan did the right thing by making it as a form of payment.I think more countries would try legalizing and make it mainstream.Japan did make a bold decision about Bitcoin and they were rewarded  for it.

It's interesting seeing people earn so much over the past week :) Really crazy with what's going on, but I wish we knew exactly all the catalysts and parties involved in the price point. Or maybe that would ruin the speculation aspect to it, who knows?

Yeah, bitcoin is on fire. Everyone hopes that it should break 5k mark within One month as there are so much positive vibes around bitcoin. It's quite interesting to see, how Japan is driving the bitcoins from front seat.

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Japan is doing this because of the fact that their government has recently removed excess taxes on bitcoin.

If the US government did the same, then bitcoin would be absolutely skyrocketing and demand within the US will completely blow out of the roof. But they're not. In fact they are tightening as far as i know because of the fact Bitfinex is dropping USA customers.

Just don't get too hot headed on the current pump, though. I think that the price is artificially high at the moment, may come down any moment.

But still, it seems like Japan is quickly taking charge here, outpacing China, Korea, USA, Australia.

There are long term capital gains tax (assets held for longer than a year) and short term capital gains tax (assets held for less than a year). It can go as high as 39.6% for short term and 25% for long term. That is for the very wealthy though. Most people will be in a much lower bracket. I am in a very low bracket. 15% for short term capital gains. 0% for long term gains.

It won't be long before the so far silent voices of the exchanges, miners and users from places like India, Republic of Korea and Japan will start making themselves heard, once they realise just what kind of beast Bitcoin is! I can just imagine what kind of impact almost half of the world will have if just the entire population of China and India hook on.

The current scene is dominated by the opinion of "the West" and China, but today's giants will experience diminishing effects of the influence they are trying to exert on Bitcoin.

Bitcoin already outperformed gold and its already a x3 of the gold oz price and i think that it will reach more highs in the future and having bitcoins right now is a great advantage because we can see more profits sooner than later because of the countries that leading the bitcoin bull run like Japan.

the day that i read this Japan news about legalizing bitcoin in their country, i know that this will be the stepping stone bitcoin needed for years in direction of its mass adoption.

and now it is finally starting to take place. mostly thanks to Japan. all the countries were stalling, overthinking things or setting hard laws about bitcoin and its regulation, ... meanwhile Japan went ahead and simply made it legal and then as if it wasn't enough they removed taxes on it :D

#this is just the beginning...

I don't feel so much in Japan. I knew existence of bitcoin, too, but invested one is this month. Many Japanese people don't invest.