Japanese getting into Bitcoin?

[dancupid]

There seems to have been a radical change in the last few days on mtgox in Japanese yen:

http://bitcoincharts.com/charts/mtgoxJPY#czsg2012-03-01zeg2012-08-15ztgSzm1g10zm2g25zvzcv

I've always kept my eye on this chart as mtgox is in Japan, but I was always disappointed until the last few days.
Is there any known reason for this?

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[WikileaksDude]

It means that the word of bitcoin is passing around, at least I hope it is this.

[caveden]

Perhaps this is the reason? https://mtgox.com/press_release_20120815.html

According to MtGox, a few banks automatically convert the wires they send to Japan to JPY, even though the wire was not denominated in JPY.

[dancupid]

Perhaps this is the reason? https://mtgox.com/press_release_20120815.html

According to MtGox, a few banks automatically convert the wires they send to Japan to JPY, even though the wire was not denominated in JPY.

I'm not so sure, since I think mt.gox has a Hong Kong bank account. And it's being going on for a few days.

[caveden]

See this: https://bitcointalk.org/index.php?topic=98988.0

They have an account in Japan.

[dancupid]

See this: https://bitcointalk.org/index.php?topic=98988.0

They have an account in Japan.

OK - but it also states "Starting September 1st, 2012 " - but perhaps that's why they need to deal with this issue and perhaps explains it.
Though I'd much rather hear someone telling me that the Japanese have decided that Bitcoin is the new Tamagotchi - anyone?
Is Bitcoin the new Tamagotchi?

[rjk]

Perhaps this is the reason? https://mtgox.com/press_release_20120815.html

According to MtGox, a few banks automatically convert the wires they send to Japan to JPY, even though the wire was not denominated in JPY.

This is not related. The JPY conversion is a stupid fuckup on the part of the intermediate bank, because they convert USD --> JPY and then JPY --> USD instead of going USD --> USD.

[DutchBrat]

Perhaps this is the reason? https://mtgox.com/press_release_20120815.html

According to MtGox, a few banks automatically convert the wires they send to Japan to JPY, even though the wire was not denominated in JPY.

This is not related. The JPY conversion is a stupid fuckup on the part of the intermediate bank, because they convert USD --> JPY and then JPY --> USD instead of going USD --> USD.

It's a well thought-through fuck-up as they charge money for the conversions 

[World]

Maybe it's just because this video conference?  
twitter ‏@rogerkver
I just presented Bitcoin to over 150 business people in Japan via skype for over an hour.
http://twitter.com/rogerkver/status/233164241799098368/photo/1

[dancupid]

Maybe it's just because this video conference?  
twitter ‏@rogerkver
I just presented Bitcoin to over 150 business people in Japan via skype for over an hour.

If that's the reason then it really shows how powerful these simple meetups and proselytizing can be.
The same thing happened in China a few weeks ago and it seems to have made a big difference.
50% (arbitrary guess) of people who hear about bitcoin will understand the potential straight away.

[DublinBrian]

The japanese should like bitcoin because forex trading is quite popular there. Before the 2008 crisis there were a lot of japanese housewives playing the "carry trade", borrowing in yen and depositing into USD, EUR, AUD and ISK, to make money on the interest rate spread.

Google "mrs watanabe carry trade" for details.

[Stephen Gornick]

The japanese should like bitcoin because forex trading is quite popular there. Before the 2008 crisis there were a lot of japanese housewives playing the "carry trade", borrowing in yen and depositing into USD, EUR, AUD and ISK, to make money on the interest rate spread.

Google "mrs watanabe carry trade" for details.

I've really been surprised at how little activity there is in Japan.    For the world's third largest economy and the tenth most populous nation, I'ld have figured Bitcoin would have gained much more traction by now. 

There aren't even any individuals offering to do local trades there (shows the closest trader is in Korea)
 - https://localbitcoins.com/postal_code/japan/tokyo

[acoindr]

The japanese should like bitcoin because forex trading is quite popular there. Before the 2008 crisis there were a lot of japanese housewives playing the "carry trade", borrowing in yen and depositing into USD, EUR, AUD and ISK, to make money on the interest rate spread.

Google "mrs watanabe carry trade" for details.

I've really been surprised at how little activity there is in Japan.    For the world's third largest economy and the tenth most populous nation, I'ld have figured Bitcoin would have gained much more traction by now. 

There aren't even any individuals offering to do local trades there (shows the closest trader is in Korea)
 - https://localbitcoins.com/postal_code/japan/tokyo

Hmm, and the Japanese section of this forum is relegated to "other" with a mere 2 pages of activity since 2010.

https://bitcointalk.org/index.php?topic=877.0

[MemoryDealers]

I'm working on some interesting things in Japan.
More Bitcoin stuff will start happening here soon.

Later this month,  I will be giving a much bigger presentation on Bitcoins in Akihabara  (The electronics district in Tokyo)
I will try to have it video taped and put on youtube.

I think the biggest holdup currently, is that there are no Japanese language wallets yet.

[kiba]

I've really been surprised at how little activity there is in Japan.    For the world's third largest economy and the tenth most populous nation, I'ld have figured Bitcoin would have gained much more traction by now.  

There aren't even any individuals offering to do local trades there (shows the closest trader is in Korea)
 - https://localbitcoins.com/postal_code/japan/tokyo

Even though Satoshi is supposedly Japanese, we never really have major Japanese participation.

[niooron]

According to the internets, most japanese don't know english and don't care about stuff outside their country.
So there.

[niko]

The japanese should like bitcoin because forex trading is quite popular there. Before the 2008 crisis there were a lot of japanese housewives playing the "carry trade", borrowing in yen and depositing into USD, EUR, AUD and ISK, to make money on the interest rate spread.

Google "mrs watanabe carry trade" for details.

I've really been surprised at how little activity there is in Japan.    For the world's third largest economy and the tenth most populous nation, I'ld have figured Bitcoin would have gained much more traction by now. 

There aren't even any individuals offering to do local trades there (shows the closest trader is in Korea)
 - https://localbitcoins.com/postal_code/japan/tokyo

The prevailing sentiment in Bitcoin world may be too US-centric, egocentric, and anarchist for  the Japanese taste and culture. Different narratives are needed to get the Japanese interested in discovering Bitcoin as a technology and deciding on its ideological implications. Perhaps a good start is DublinBrian's forex pitch above.

[cypherdoc]

most Bitcoiners here just don't realize how early we are in this whole thing.  when whole countries like Japan haven't even come online to any significant degree you begin to realize just how far we have to go.

[acoindr]

most Bitcoiners here just don't realize how early we are in this whole thing.  when whole countries like Japan haven't even come online to any significant degree you begin to realize just how far we have to go.

Very true. It's because we're immersed in Bitcoin daily that it's easy to forget the reality that Bitcoin is known by approximately .015% of the world's population (yes, I invented that stat).

[tvbcof]

I've really been surprised at how little activity there is in Japan. ...

The prevailing sentiment in Bitcoin world may be too US-centric, egocentric, and anarchist for  the Japanese taste and culture. ...

Or their culture may start to evolve at a more rapid rate due the radiation and the realization that their government is directly responsible for their calamity due to actions (or lack thereof) before, during, and after the Fukushima meltdowns.