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Author Topic: [2016-02-25] Guardian: Japan considers making bitcoin a legal currency  (Read 597 times)
LiteCoinGuy
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February 25, 2016, 03:39:49 PM
 #1

Japan considers making bitcoin a legal currency

Japan’s governing Liberal Democratic party is planning to propose legal changes that would define bitcoin and other cryptocurrencies as currencies.

The changes would mean bitcoin could be more tightly regulated and taxed, and are likely to lead to more investment in developing cryptocurrency infrastructure in Japan.

http://www.theguardian.com/technology/2016/feb/25/japan-to-make-bitcoin-legal-currency

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indiemax
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February 25, 2016, 07:12:06 PM
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Sounds like a good idea,suppose the trade off is to get adoption,regulation is gonna have to happen

but i'm OK with that,we can evolve once were in the door Grin
Carlton Banks
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February 25, 2016, 11:45:40 PM
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regulation is gonna have to happen

Lol, how do you regulate a computer network that regulates itself, and cannot be altered? It's like trying to put a leash on the wind. Besides, why would anyone believe that any actions of the Japanese government could influence Bitcoin's success?

Bitcoin has been immensely successful in spite of 6 years of regular attacks by all sorts of established organisations. That one of those organisations has suddenly decided to recognise the inevitable is of little consequence.


Authority is not the truth; truth is the authority. Bitcoin is the truth machine. Government is the lie machine. Where do you stand?

Vires in numeris
Minecache
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February 25, 2016, 11:54:23 PM
 #4

I'll believe it when I see it.

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Zedmony
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February 26, 2016, 11:05:29 AM
 #5

If the bitcoin is legalised as a currency in Japan. It will affect the decisioin in other countries. So it is good.
Carlton Banks
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February 26, 2016, 12:04:09 PM
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If the bitcoin is legalised as a currency in Japan. It will affect the decisioin in other countries. So it is good.

Anyone who wants to wait for government recognition/permission clearly doesn't understand what Bitcoin is all about. All private currencies in recent years have been targeted, by governments, as counterfeiting operations.


Bitcoin changed that forever. And no-one asked permission, or for recognition. And now, governments are beginning to say "oh, you Bitcoin people need recognition from us, that's what you need". Funny how they've come crawling now that they realise it can't be stopped.


Bitcoin was heavily discredited by governments, financial "experts" and central banks for the first 5-6 years of it's life, and now they want to acknowledge it? As a Bitcoiner, I do not recognise or acknowledge the Japanese government (or any other) whatsoever.

Vires in numeris
Dekker3D
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February 26, 2016, 12:12:49 PM
 #7

Japan is hi on tech so I guess bitcoin can thrive there. Also, it'll bring the price further upwards if the population will make use of it so it's a win-win for bitcoin.

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February 26, 2016, 02:56:43 PM
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regulation is gonna have to happen

Lol, how do you regulate a computer network that regulates itself, and cannot be altered? It's like trying to put a leash on the wind. Besides, why would anyone believe that any actions of the Japanese government could influence Bitcoin's success?

Bitcoin has been immensely successful in spite of 6 years of regular attacks by all sorts of established organisations. That one of those organisations has suddenly decided to recognise the inevitable is of little consequence.


Authority is not the truth; truth is the authority. Bitcoin is the truth machine. Government is the lie machine. Where do you stand?


Anyone with a hole in their ass knows Gov is the lie machine Wink
I don't think you grasp the importance being accepted and what that brings to the table for Bitcoin and other alt coins

like I said, get a foot in the door and evolve, ffs Devs and miners won't hand over Bitcoin
 or do you prefer standing outside the banking system with your protest sign dreaming of utopia waiting to be let in ?

ain't gonna happen Grin
Carlton Banks
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February 27, 2016, 01:11:02 AM
 #9

regulation is gonna have to happen

ain't gonna happen Grin

regulation ain't gonna happen. come regulate my Bitcoins. Not happening.

Vires in numeris
LiteCoinGuy
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February 27, 2016, 07:56:37 AM
 #10

The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of volume of trading, it is by far the largest market in the world.[1]

https://en.wikipedia.org/wiki/Foreign_exchange_market

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February 27, 2016, 08:27:54 AM
 #11

I find it very hard to believe. When it comes to these sort of artciles; Action speaks louder than words. But I am sure it will have some impact on the average joe's of this world. Perhaps they will feel a bit more safatey when using Bitcoin.

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February 27, 2016, 10:08:16 PM
 #12

Japan's attitude towards BTC is pretty bizarre. As far as I can tell there's virtually nothing going on there in terms of adoption. Is this down to innate conservatism or lack of interest? Would something like this kick it off?

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February 28, 2016, 05:01:45 AM
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Guys. Read the article in the OP. It is all about taxation, and attracting investment in Japan. Seems to me, any government that wants to get in on the ground floor of both taxation and investment should want to look at legalization
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