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Author Topic: bitFlyer the world's largest bitcoin exchange Jan 2017? How?  (Read 1744 times)
Doms
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February 17, 2017, 06:47:43 AM
 #21

Japan really doesn't seem to have taken to Bitcoin in any way whatsoever.

No kidding. According to CoinATMradar, there are only 11 BTC ATMs in all of Japan. Meanwhile Toronto alone has 48 of them.

https://coinatmradar.com/

Meanwhile in France you got only 3 ATM xD

Well to be fair that must be difficult as hell considering our rigorous legislation.
Regulation has its cons ^^
And in the Philippines, there is only 1 BTC ATM at the moment, with the other two still on planning stages as to where to strategically-locate them. On another note, this huge volume being generated by this new player seems to have attracted a lot of clients already. For how long these clients will stay in that exchange is going to be the big question, given that the period for zero fees is coming to an end in a few weeks' time.
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February 18, 2017, 01:35:19 AM
 #22

Japan really doesn't seem to have taken to Bitcoin in any way whatsoever.

No kidding. According to CoinATMradar, there are only 11 BTC ATMs in all of Japan. Meanwhile Toronto alone has 48 of them.

https://coinatmradar.com/

Meanwhile in France you got only 3 ATM xD

Well to be fair that must be difficult as hell considering our rigorous legislation.
Regulation has its cons ^^
And in the Philippines, there is only 1 BTC ATM at the moment, with the other two still on planning stages as to where to strategically-locate them. On another note, this huge volume being generated by this new player seems to have attracted a lot of clients already. For how long these clients will stay in that exchange is going to be the big question, given that the period for zero fees is coming to an end in a few weeks' time.
So the ones in the 7-11 convenience stores there do not count as atm's?
They do them as token purchases then you get a receipt to redeem online correct?
Just like the way a top card is purchased for you mobile I would assume.

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Seansky
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February 18, 2017, 03:08:06 AM
 #23

Japan really doesn't seem to have taken to Bitcoin in any way whatsoever.

No kidding. According to CoinATMradar, there are only 11 BTC ATMs in all of Japan. Meanwhile Toronto alone has 48 of them.

https://coinatmradar.com/

Meanwhile in France you got only 3 ATM xD

Well to be fair that must be difficult as hell considering our rigorous legislation.
Regulation has its cons ^^
And in the Philippines, there is only 1 BTC ATM at the moment, with the other two still on planning stages as to where to strategically-locate them. On another note, this huge volume being generated by this new player seems to have attracted a lot of clients already. For how long these clients will stay in that exchange is going to be the big question, given that the period for zero fees is coming to an end in a few weeks' time.
So the ones in the 7-11 convenience stores there do not count as atm's?
They do them as token purchases then you get a receipt to redeem online correct?
Just like the way a top card is purchased for you mobile I would assume.
I am from the Philippines and I know that those in 7-11 convenience stores does not count as atm's since it can only be used for cash ins but it can't be used for cash out. For converting bitcoin to fiat, we can use ordinary atm cardless using the service of coins.ph but it wouldn't count as bitcoin atm since it is still ordinary. It's kinda like just for paying bills at payment centers when buying at 7-11 convenience stores and you don't redeem it online, it just goes into your coins.ph account peso balance directly after receiving your payment with indicated reference number then you can buy bitcoin. It ain't like how a top up card is purchase for your mobile.
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February 18, 2017, 02:16:00 PM
 #24

I am seriously thinking about opening an account with them and start to trade.
Any suggestions from you guys on this?

........EtherSphere........
.....ICO Starts on 5th August, 4:00 PM UTC.....
.......High ROI Social Ethereum Games
........BENEFITS WHITEPAPER ANN THREAD GITHUB REDDIT TWITTER........

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Victorycoin
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February 19, 2017, 01:13:54 PM
 #25

Yup. Zero fees. And if that 400,000 figure is true then 399,000 of them will be foreigners looking for action. Japan really doesn't seem to have taken to Bitcoin in any way whatsoever.

How does BitFlyer make it's money? The Chinese exchanges were making money through charging interest for margin trading - is BitFlyer using the same model?
it is just part of promotion , the site says transaction fees free at least for two weeks as campaign to attract people to trade there. so i guess after that the fee will be there as usual , no way they can make it last forever.
That's right, they are out to mop up those volumes of trade China is taking for granted and may have to introduce some fees in the long run. That goes to highlight what to expect when government tries to flex its muscle on Bitcoin and I hope they get to learn something this time around. Bitcoin is like the wind, it goes where it wants!

Quote
also if you take a look to alexa stats http://www.alexa.com/siteinfo/bitflyer.jp , the whole traffic come from japan only , hmmm is there something wrong?
The statistics from Alexa must be showing the face value of the traffic it monitored, but the real description of the traffic is hidden somewhere in the space, because those Chinese traders know better than leave tracks of their deals, knowing their government was after them.
 

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youdacapt
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February 19, 2017, 02:53:30 PM
 #26

Yup. Zero fees. And if that 400,000 figure is true then 399,000 of them will be foreigners looking for action. Japan really doesn't seem to have taken to Bitcoin in any way whatsoever.

How does BitFlyer make it's money? The Chinese exchanges were making money through charging interest for margin trading - is BitFlyer using the same model?
it is just part of promotion , the site says transaction fees free at least for two weeks as campaign to attract people to trade there. so i guess after that the fee will be there as usual , no way they can make it last forever.

also if you take a look to alexa stats http://www.alexa.com/siteinfo/bitflyer.jp , the whole traffic come from japan only , hmmm is there something wrong?

OK thanks. It means they will be the "biggest exchange" only for a short period of time.
i guess so , worth to see if this exchange will keep growing day by day or just take an opportunity on chinese exchange which have make a lot of trader disappointed with a new regulation about trading fee etc.

bitflyer itself has been there for few years , yet they are only prioritize japanese bitcoin trader, but now seems like ready to open for worldwide trader.

A huge losses if China market doesn't immediately prepare to take back its position on world bitcoin market. Japan only running a massive promotion to attract visitors. China will not think too long, they will play a different strategy for anticipating.


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Victorycoin
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February 23, 2017, 06:09:29 PM
 #27

Yup. Zero fees. And if that 400,000 figure is true then 399,000 of them will be foreigners looking for action. Japan really doesn't seem to have taken to Bitcoin in any way whatsoever.

How does BitFlyer make it's money? The Chinese exchanges were making money through charging interest for margin trading - is BitFlyer using the same model?
it is just part of promotion , the site says transaction fees free at least for two weeks as campaign to attract people to trade there. so i guess after that the fee will be there as usual , no way they can make it last forever.

also if you take a look to alexa stats http://www.alexa.com/siteinfo/bitflyer.jp , the whole traffic come from japan only , hmmm is there something wrong?

OK thanks. It means they will be the "biggest exchange" only for a short period of time.
i guess so , worth to see if this exchange will keep growing day by day or just take an opportunity on chinese exchange which have make a lot of trader disappointed with a new regulation about trading fee etc.

bitflyer itself has been there for few years , yet they are only prioritize japanese bitcoin trader, but now seems like ready to open for worldwide trader.

A huge losses if China market doesn't immediately prepare to take back its position on world bitcoin market. Japan only running a massive promotion to attract visitors. China will not think too long, they will play a different strategy for anticipating.
It is all good for the Bitcoin community if the this competition between exchanges in China and Japan ensues as it will brew more volumes of transaction which by extension would translate to much more demand for Bitcoin and which is exactly what keeps its value up and climbing. One more thing is that it would send a clear signal across to all those governments thinking of standing in the way of Bitcoin.

..C..
.....................
........Finally C is .........
..............
...........            ............
       ............            ............
...................      ....................

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