Bitcoin Forum

 bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

You should say Asia-ex China. Demand definitely isn't sky rocketing in China, due to the government's tough stance against Bitcoin.
In countries like Japan and South Korea, friendly regulation has helped demand take off.

Asia doesnt only focuses on China alone since there are lots of countries which are included on it which same as you mention like Japan and South Korea did somehow lift up bitcoin inspite of such Ex-China regulations  ;D
If its skyrocketing then this thing is really a good new and now we do see prices are already climbing up not on adoption but because on the upcoming events.

The upcoming hardfork on the 25th this month might play a role in this matter. In any case, Bitcoin is about to hit a new ATH. Previous ATH was on september the 2nd with a value of $4975 and market cap of over $82 billion. Currently we're looking at a price around $4900 and a market cap of over $81 billion. I took the mentioned numbers from coinmarketcap.com btw.

Right, China is not the only country in Asia and banning bitcoin by them should not affect the interest of the other country. It might have affected the price of bitcoin but of course bitcoin will not die of that, there are countries who have big interest with bitcoin like Japan and Korea and if this countries decided to invest more, surely bitcoin's price will increase more. Banning bitcoin only made it more interesting and if we are going to talk about the future, countries who have stayed with bitcoin will certainly be more advanced.

It appears that the reasons is mostly japan and philippines because they were the first asian countries to adopt and legalized bitcoin then the other countries who is having doubts have finally made up their mind then few days after south korea decided to invest in bitcoin. I guess after they saw that the other near countries is buying a crypto currency that might change one countries economy for good they've decided to take the risk.

Bitcoin became popular in Asia that's one factor to be considered why bitcoin have a huge bumps in its price, people started to adapt to its virtual potential to market and expecting the price to increase throughout the year and even next year we're expecting it to have a very positive potential to break it's market price record increase.

If ever it is true,  its a good news.  Eventhough bitcoins is popularly known in my country,  still in a bitcoin user, so its a big news for me.  I
If only bitcoins is known widespread in asia,  i guess it will be a big help (especially in those in third world country in asia). So, i supposed i should celebrate.  Go asian country for bitcoins.

I think. For the time being, India and Southeast Asia have not shown greater interest in BTC, if so. That BTC will speed up in the future. One thing that can be predicted is that BTC will soon break through $ten thousand.

For a start Japan has legalized bitcoin so the demand from them is huge. And they are now the #1 country in terms of trading volume, followed by another Asian giant, South Korea. Although the bitcoin price is really peaking this past few days, the reason is that the looming hard fork on Oct. 25 might be involved and this is the effect that we are seeing. So demand plus speculation = bitcoin price skyrocketed and going to the moon. But don't forget that its not only in Asia though, bitcoin has no boundaries is that Asia is leading the revolution for this new technology and its taking the world by storm.

Of course indeed, at first on the beginning of 2nd quarter this year when Japan gives a go signal for bitcoin as a legal tender, the demand skyrocketted and also indicates a bullish trend of bitcoin price ranging to 2000 USD. There are also other Asian countries that are an early adaptor of bitcoin like Philippines and Indonesia. Then, China is the undisputed king of mining pool almost 70 percent of shared mining pools are there, the unbeatable bitcoin ASIC mining manufacture. South Korea and INDIA are joining the bitcoin bandwagon from trading to ICOs, regulating ICOs area good benefit to ASIAN countries for sustainable cryptocurrency and blockchain industry.Pseudo-named Satoshi Nakamto was agreat influence to Japanese bitcoin adaptor.

Well it dipped for a while and is now rallying back. Plenty of Asian countries have also shown optimism regarding Bitcoin, such as Japan and Taiwan. This translates to consumer optimism and increased demand.

Bitcoin was initially traded by merchants in some particular countries but now this revolutioning currency has become popular internationally.
People over different countries have been appearing more intereted with bitcoin than regular fiat currencies.
Money transfer networks like moneygram, western union are much expensive and time taken than bitcoin, so there is the reason for skyrocketing bitcoin demand.

I think today its is the sideway trend. Yeah, Asia countries like bitcoin so much. I think one factor for its boom in Asia not just for the economic giant but third world Asian country is that it gives them a chance to earn bitcoin to help them survived in their country. And even most of them are treating bitcoin as a job so no wonder the price of bitcoin is skyrocketing on that corner. And Japan, South Korea and even Taiwan now are bitcoin friendly resulting on so much optimism about it. And I think that Asia will continue to show desire and willingness to buy bitcoin in the next coming years.

This is actually surprising because Asia is full of traditional countries and most are not so welcome to new and foreign concepts such as this.

I agree that a factor could be the friendly approach there is for Bitcoin in countries like Japan - I believe that their legal system allows the bitcoin users to maximize its use and potential. Along with this, the popularity and interest for bitcoin has increased. It is also true that some users in Asia has been treating bitcoin as "sideline income" or way for them to earn extra, so I guess this contributes to the growing demand for Bitcoin in that area.

What are the reason behind this? why don't you try researching it? Did you ever know that Japan has listed a lot of exchanges for bitcoins? even if China is ban ICOs, Japan and Other countries like Philippines are obviously supporting bitcoin.

I'm sure Asian countries are getting more involved into bitcoin as compared to previous statistics. There are more interested countries apart from china and Korea who recently ban the thing. The major potential market in that side is India which is having second largest population after the china and they have full potential to acquire the digital market. The regulations how ever are under process in India where tax authorities will be watching the bitcoin trades. But that's not completely I ole meted yet and it will surely take time. Until the time people will keep investing into bitcoin and the flood of investment shall rise until then.

This is likely the biggest factor at the moment. The FOMO (fear of missing out) from the potential 'dividend' of the split coin is making a lot of people switch from altcoins into BTC. You can see this suppressing the prices of various alts right now. There's probably a bit of fiat being moved from the sidelines as well. It's similar to what happened leading up to the August 1st BCC/BCH split. It will be very interesting to see if we get the same follow through after the split this time as that could lead us up to $6000 or above.

There are more than 40 countries in the continent of Asia, and most of those countries are supporting Bitcoin,

As Bitcoin gain popularity, and almost every part of the world are reaching by Bitcoin. Asian people are open minded as I could see, and they are open for new things or technology, Asian are extremely enjoying Bitcoin.  

Phillippines has a huge, internet savvy population. They also have large remittances. So it is inevitable that Bitcoin becomes popular there. Demand in Japan has been driven by bitcoin-friendly regulations.

I think because amongst the regions in the entire World. Asia aside from china obviously have more leniency regarding cryptocurrency and has kept an open mind regarding the trade and people are much more willing to invest and sell and trade than other races.

in Asia only several countries admit bitcoin as the currency including Japan but because most of the countries from that continent don't banned bitcoin that's why demand for bitcoin is very increasing however i was wondering that there is a plan for some people buy bitcoin because hardfork and they want free money if bitcoin split to bitcoin gold 1 : 1 so that's why bitcoin price still climbing up untill today

The population in Asia alone is a whopping 4.4 Billion in 2016. That leaves the other 3.4 Billion spread across America, Africa, Europe and Australia. The demand here in Asia is really high due to its huge population and it is increasing by the minute. Over the past few years technology have also significantly risen in most of it's region. Thus creating a Goldilocks zone for cryptocurrency. Huge volume of user plus internet = Skyrocketing demands.

I am from Asia and I am living in a third world country that accepts Bitcoin. I am happy even though our country is not a highly developed one but still we can interact with Bitcoin though central bank regulated our local exchanges we are sitll happy because cryptocurrencies are not banned in here though not legalized but is accepted by the government. Asia has big role in cryptocurrency because based on what I've observed Asian countries are more active in crypto investments.  Maybe because majority of countries in Asia are in still in the process of developing. Most of Asian has extended families so helping each other like sharing ideas about cryptocurrency is easier. Here in my country most of online earners are into crypto because of the fact that it is more profitable in cryptos than fiat money and also, in crypto there is no need for us to be having a masters degree or having skills, internet connection, mobile phone and ideas are enough.

The Asian people are the one who are being aggressive in bitcoin and they are the leading race in the world who are adopting bitcoin and implement it into their lives as a part of their source of income aside from their job and some of them just leave their job and focus in bitcoin because they believe that it will be a good decision to focus full time in bitcoin so they can earn more and learn more with it.

The demand for bitcoin soared in Asia. This is a normal thing. Bitcoin has a lot of advertising campaigns around the world. There are many people in the world who already know and use bitcoin. Asia has many developing countries. Bitcoin can help the country's economy change. This is why demand for bitcoin is skyrocketing

The last time I checked, Asia is a continent, and China was having issues with the use of bitcoin. Maybe some countries in Asia are now accepting bitcoin, but China government has not given a full usage of bitcoin yet which is giving a tough time for miners in the country.

Yeah this. East Asia have a favorable view of it although it seems banning ICOs would become a norm for a while. It's also quite accepted in Southeast Asia. Philippines and Vietnam has recognized the legality of it and the other ASEAN members seem to be warming up as well.

Well, logically the demand in asia is definitely going to he larger than all the other continents primarily because asia is home to some of the biggest and most populated countries in the wirld - Russia, China and India.

Given the number of people living in asian part of the world, makes it easy to understand why the demand is higher in asia for crypto as conpared to the demand in other countries or regions in the world.

It's because of the population which co-relates to the number of users,traders, and investors. As we all know China contributed huge and we have seen how it affected the prices when FUD happened. So the use of bitcoin with legality is very important. It's more secure to use such thing especially when you have nothing else to depend on.

Not all over Asia bitcoin's demand is skyrocketing, don't focus with Asia only or if you have source about this kindly give it or insert it. I would say that it is not only in Asia that the demand of bitcoin is skyrocketing but in different continents and the reason for it are these;
1. Bitcoin gold
2. Everyone now understand that bitcoin is quickly increasing so those people are now buying for future investment.

The mind set of being rich quickly if they buy Bitcoin.  The statement of people that Bitcoin will be $100k to $1million in 5 to 10 years made an impact to make people think that Bitcoin is the easiest way to get rich, just buy, hold and then sell when price hit the $100k mark.  There is also an active marketing program in Asia and that too helped so much.

Yes in my country many people are now taking interest in bitcoin. They are investing in bitcoin because they have realized that bitcoin is a very profitable coin business in the world. Although there are some threats in investment in bitcoin but still Asian countries are investing in bitcoin with a large amount of people and money. It is a good sign for the betterment and success of bitcoin.

Bitcoins popularity is increasing with which people are understanding about bitcoins and are using and investing in them which maybe the reason of the increase in demands or it could be also that this hardfork is coming which would definitely increase the price as people are buying bitcoins to get more free Bitcoin gold which could be profitable and I hope it is.

China is indeed a part of Asia and it had recently blocked bitcoin but the good thing for crypto market is that bitcoin defeated China and it survived the hurdles created by the sleeping giant for bitcoin. Bitcoin has proved that this currency is decentralized and no country can get control over bitcoin. Yep, many countries have started utilizing the amazing features of bitcoin such as Pakistan, India etc.

You are right the demand is really high because people in aisa always try to get save from paying any tax in whatever way it is possible. Bitcoin not the complete solution to it but as i said it is still one way in order to save those extra funds. Another reason could just be to gain profit from the coin

Asia is quite big and there are lot of people in Asian countries. Just like in the country where I am from. The increase in population results to a greater problem in poverty.  And when poverty is present a demand in job is also increasing.
In terms of bitcoin, the population causes a greater demand. People see bitcoin as an income to solve poverty.

China was trying to control the prices of bitcoin but bitcoin proved that it is not confined to any single part of land it is versatile and it gives neutrally to all and as china bans bitcoin their own citizens are opposing their decisions and all they want is to take off the ban so that they can continue to make profits and get the economic aid from the bitcoin.