Japan now #1 in volume

[lionheart78]

Good to know that the Chinese exchanges don't have a monopoly on Bitcoin trading.

Japan may be number one now in volume but Chinese exchanges enjoyed a highest volume for a long time and i know in future they will retain the highest volume again. Seeing other countries like Japan in the Race with china in Bitcoin adoption is sure a healthy  competition for bitcoins overall.

Those high volume was fake.  You can see how fake it was when those big exchanges implemented fees on trade transaction.  But yeah,  I agree that world wide adoption and competition is healthy for Bitcoin economy.  As far as I know Japan is more Bitcoin friendly than China.

[Pattberry]

Good to know that the Chinese exchanges don't have a monopoly on Bitcoin trading.

Japan may be number one now in volume but Chinese exchanges enjoyed a highest volume for a long time and i know in future they will retain the highest volume again. Seeing other countries like Japan in the Race with china in Bitcoin adoption is sure a healthy  competition for bitcoins overall.

Those high volume was fake.  You can see how fake it was when those big exchanges implemented fees on trade transaction.  But yeah,  I agree that world wide adoption and competition is healthy for Bitcoin economy.  As far as I know Japan is more Bitcoin friendly than China.

The popularity of bitcoin in Japan started evolving last year as there was a growing demand for bitcoin and things might even change in Japan in the future as there are rumors that Japan is planning to legalize bitcoin as a currency. There may be new rules and regulation coming up and really looking forward to how the future holds.

[Yakamoto]

Good to know that the Chinese exchanges don't have a monopoly on Bitcoin trading.

Japan may be number one now in volume but Chinese exchanges enjoyed a highest volume for a long time and i know in future they will retain the highest volume again. Seeing other countries like Japan in the Race with china in Bitcoin adoption is sure a healthy  competition for bitcoins overall.

Those high volume was fake.  You can see how fake it was when those big exchanges implemented fees on trade transaction.  But yeah,  I agree that world wide adoption and competition is healthy for Bitcoin economy.  As far as I know Japan is more Bitcoin friendly than China.

The popularity of bitcoin in Japan started evolving last year as there was a growing demand for bitcoin and things might even change in Japan in the future as there are rumors that Japan is planning to legalize bitcoin as a currency. There may be new rules and regulation coming up and really looking forward to how the future holds.

It's kind of strange how advanced Bitcoin has been getting within countries like Japan and a lot of other countries in Asia as well. I don't mind it at all to be completely honest, and something like what we have now is fine by me.

I'm more surprised that China is not longer leading in volume though, they were on top for essentially the existence of Bitcoin since 2013 iirc.

[syaripudin]

This is a competition where every country can take part for the crypto competition. Of course japan is a country with a very advanced technological capacity. Many residents have a high IQ, this makes bitcoin a choice for people in Japan. So I'm not too surprised by this. Currently japan and china are the two countries that use bitcoin most, but this will be a healthy competition. Because crypto is a currency that no one can cheat.

[Black Angel]

It's hard to find valid data about bitcoin users, it's all just prejudice and not easy to prove, but I think china is still the biggest because the biggest mining is in china.

[FiniteKez]

Where are you seeing Japan as #1 in volume? Looking at http://data.bitcoinity.org I'm seeing these volumes for the past couple weeks:

Volume (in BTC)	Week 7/23	Week 7/16
USD/BTC	621k	982k
CNY/BTC	180k	255k
JPY/BTC	94k	168k

Looks like Japan's volume is still way behind both China and the US.

[moviebuff777]

It seems that Japan is now #1 in volume. China will start having less and less relevancy as other countries catch up in the importance of bitcoin. When this happens, we will see how 3 figures a BTC was always as cheap as hell. The days of chinese government backed price manipulation are numbered. PBOC trick to short the market is increasingly less effective as price recovers quickly. Shorters beware.

The more countries the better because it spreads the demand to more people but it also reduces the risk that one country will try to control bitcoin. And I find mean the regular citizens of a country, but the government or a small group of powerful people. Diversification is very important to the health of bitcoin.

[doedz]

Where are you seeing Japan as #1 in volume? Looking at http://data.bitcoinity.org I'm seeing these volumes for the past couple weeks:

Volume (in BTC)	Week 7/23	Week 7/16
USD/BTC	621k	982k
CNY/BTC	180k	255k
JPY/BTC	94k	168k

Looks like Japan's volume is still way behind both China and the US.

Good information, china has always been the biggest rival for america and japan. In the future China will become a Super Power State, many predict as it is.

[favila]

Where are you seeing Japan as #1 in volume? Looking at http://data.bitcoinity.org I'm seeing these volumes for the past couple weeks:

Volume (in BTC)	Week 7/23	Week 7/16
USD/BTC	621k	982k
CNY/BTC	180k	255k
JPY/BTC	94k	168k

Looks like Japan's volume is still way behind both China and the US.

Good information, china has always been the biggest rival for america and japan. In the future China will become a Super Power State, many predict as it is.

OP's post was from February when Japan was number 1 for a while in BTC. USD is however always king, whenever China, Japan or South Korea have shown up as number one in volume it has usually been based on data from exchanges with little or no fees which inflated the volume.

[tonlong]

Where are you seeing Japan as #1 in volume? Looking at http://data.bitcoinity.org I'm seeing these volumes for the past couple weeks:

Volume (in BTC)	Week 7/23	Week 7/16
USD/BTC	621k	982k
CNY/BTC	180k	255k
JPY/BTC	94k	168k

Looks like Japan's volume is still way behind both China and the US.

Good information, china has always been the biggest rival for america and japan. In the future China will become a Super Power State, many predict as it is.

China's dominance of bitcoin ends at their ability to steal power from a lazy state government when it comes to infrastructure maintenance and monitoring. China is nothing in the grand scheme of bitcoin, the USA has and always will dominate Bitcoin.

[jc89]

Where are you seeing Japan as #1 in volume? Looking at http://data.bitcoinity.org I'm seeing these volumes for the past couple weeks:

Volume (in BTC)	Week 7/23	Week 7/16
USD/BTC	621k	982k
CNY/BTC	180k	255k
JPY/BTC	94k	168k

Looks like Japan's volume is still way behind both China and the US.

I guess Japan had its time on the first spot sometime in February. But we can really see the aggressivess among these countries and how competitive they are in every aspect of country rivalries that we see even in bitcoin world. Like I've said in other threads, whatever the US started, its rival countries will always try to cope up and compete.

[Theb]

I guess this is relevant to Japan's government making Bitcoin an official payment method in their country. From my perspective businesses and certain individuals in Japan are taking advantage of it and buying Bitcoin to use in their business like their own Exchange. The only thing left to prove my theory is for Korea to follow Japan in terms of volume in the market for Bitcoin.

[Vaskiy]

In such a short time period reaching high volume is really an impossible task, though the country has got legalized usage of bitcoin with more stores accepting bitcoin generating a good circulation of the digital currency around the network. Japan has been competing hard to be the leader of cryptocurrency, but that takes time.

[Kaller]

Seriously?

This is quite shocking to me. I get that cryptocurrency is officially legal and regulated in Japan, but it is also higher in volume than the US? Really?

I would never have thought this... very surprising.

[HalfDeck]

I guess this is relevant to Japan's government making Bitcoin an official payment method in their country. From my perspective businesses and certain individuals in Japan are taking advantage of it and buying Bitcoin to use in their business like their own Exchange. The only thing left to prove my theory is for Korea to follow Japan in terms of volume in the market for Bitcoin.

Well this is the result of the accept Bitcoin as new payment system in Japan, I think other country on the world's should study them and application to payment system in more country soon before the value of Bitcoin increasing more.