Japan to accept Bitcoin as payment method.

[_nur]

but btc fee is too expensive and slow

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[neochiny]

--
I pointed out why earlier in this thread, it is the cost of electrical power.   In Tokyo we are paying well over 20 cents (US) per KWH!   In China power is probably 1/4 to 1/3 the cost it is in Japan.  So even though the Chinese government is very hostile to virtual currencies there is a lot more involvement.   Additionally the cost of living in China is much lower so that is what drives Chinese involvement.   

I don't think very many Japanese understand much about Bitcoin or even care.  Most of the people talking about Bitcoin here seem to be younger.   A lot of kids seem to know a good deal about it though.   

In some parts of Europe and the US power is pretty cheap and you have people heavily involved on their own, maybe not so much  Bitcoin but in virtual currencies of some kind.   It isn't the law that drives it, it is simple economics.

That being said Japan is used to virtual money.   There are more credit cards now and point cards are extremely popular.   While Japan is still more cash focused that say the US, in some ways people are more used to money being just numbers here.   Most on-going bills are paid from bank account transfers and mostly that is automatic.   The only monthly bill I have to pay is gas and even that I go to a convenience store like 7/11 and pay there.   In fact there are very few bills you can't pay at a convenience store and they don't charge any fees for that.

Japanese are very progressive when it comes to technology.   It isn't the government that drives that, it is the people that drive the government.   However when it comes to safety the Japanese are ultra-conservative.   That is what will slow Bitcoin adaption because Bitcoin isn't very safe in the eyes of many people.   

At the least, the danger of exchanges suddenly disappearing with thousands or millions of users money would be minimized if not, totally eliminated.
With Japan officially accepting Bitcoin, local exchanges would be wrapped up in laws and regulation, which would, in turn provide a somewhat safer avenue for the users/would-be.
All they'd have to worry about then would be the intense volatility and p2p transactions.

[iamTom123]

This can be a big boost to Bitcoin though I have not seen the news making an impact on the value of Bitcoin. Anyway, this is already a big good news considering that Japan is a big economy. I am wishing that Japan can be able to counterbalance the hegemony of China relative to Bitcoin. Though am still wondering what can be the difference between a form of payment (the status stamped on Bitcoin) and being a currency...

[bncbnc]

This can be a big boost to Bitcoin though I have not seen the news making an impact on the value of Bitcoin. Anyway, this is already a big good news considering that Japan is a big economy. I am wishing that Japan can be able to counterbalance the hegemony of China relative to Bitcoin. Though am still wondering what can be the difference between a form of payment (the status stamped on Bitcoin) and being a currency...

yes its looking very new in present time but i think in future al all the government are going to accept bitcoin as legal legal currency and hen they will use bitcoin as payment method. but currently i do not think that there is still any country where they have consider bitcoin as legal currency.

[boyptc]

So after the bad impact of what did the BTU made to the core bitcoin and now we are on the rise, I mean bitcoin. It's a great news, we know how Japan is the most innovative country in the world, they will make the market of bitcoin boost and will add up another demand to the market of bitcoin which will end up price pump.

[Yuuto]

the first japan bill containing virtual currencies is expected to come on april which recognizes bitcoin as a method of payment.Although,it doesnot define bitcoin as a legal currency,it is still considered as a remarkable progress for bitcoin in japan.Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.

That's nice.

I would think that the US would be the first country to do something like that, but no, apparently Japan is ahead of US by a mile.

After all, Satoshi was Japanese, right?

It just proves that if governments are able to accept something that is better than fiat, they will succeed. And yeah, if that happens then i will definitely go to the 2020 olympics, no doubt about that

[e-coinomist]

I don't think very many Japanese understand much about Bitcoin or even care.  Most of the people talking about Bitcoin here seem to be younger.   A lot of kids seem to know a good deal about it though.

Exactly the right attack angle. The older generation got their habbits and got along without bitcoin for a long timespan. Old habits never ever change.

After all, Satoshi was Japanese, right?

We don't know. Maybe analysing his english dialect would allow some geotagging. Just recognized mine beeing very british, "analyze" would have been american english.

[hisuka]

This is a great news accepting bitcoin as payment method in Japan. This is a nice development in bitcoin community, creating this kind of service will attracts more users of bitcoin. Japan is one of the leading top countries in using bitcoin a nice though.

[megynacuna]

This can be a big boost to Bitcoin though I have not seen the news making an impact on the value of Bitcoin. Anyway, this is already a big good news considering that Japan is a big economy. I am wishing that Japan can be able to counterbalance the hegemony of China relative to Bitcoin. Though am still wondering what can be the difference between a form of payment (the status stamped on Bitcoin) and being a currency...

yes its looking very new in present time but i think in future al all the government are going to accept bitcoin as legal legal currency and hen they will use bitcoin as payment method. but currently i do not think that there is still any country where they have consider bitcoin as legal currency.

The OP was making specific reference to Japan and was hoping it gets passed thus April and so we shouldn't look into the far future or a country like Japan to accept,adopt and integrate Bitcoin into their systems.

[Question123]

Oh thats good news to the bitcoin world. If japan accept bitcoin as payment method it can help to us to become bitcoin more popular. If japan release news about bitcoin many people there for sure read the article and become interest to invest bitcoin and if this happen bitcoin price will increasing and us will become happy and thankful.I hope many country also will accept bitcoin.

[JanpriX]

the first japan bill containing virtual currencies is expected to come on april which recognizes bitcoin as a method of payment.Although,it doesnot define bitcoin as a legal currency,it is still considered as a remarkable progress for bitcoin in japan.Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.

I known for a quite now that Japan's rate of acceptance regarding Bitcoin is very high but I didn't know that they will actually create a Japan Bill containing cryptocurrencies. Japan is indeed innovative and has a keen eye in looking out for technologies that will become huge in the future. They see it in Bitcoin and now, they are doing everything to integrate it in their community. High time indeed for Bitcoin in the Japanese community.

[PokerFace3]

It seems to me that most people posting here don't really seems to know very much about Japan.   Japan hasn't been unfriendly to Bitcoin and there are even some BTC ATMs around Tokyo.   A lot Bitcoin events have happened in Japan, remember Mt. Gox?  (About 20 minutes from where I live.)

The problem in Japan isn't laws, the problem is the cost of power.   It has been getting better, but I'm still playing about $0.23 / kwh.   There will be some nodes setup and a lot of people will use Bitcoin but probably it will be curbed a bit because electrical power isn't cheap in Japan.  

And Toshiba seems to be in trouble regarding that Westinghouse subcompany, not to talk at all about Tepco. But that's just energy politics. How about the growing potential regarding from this piece of news?

I would calculate it as zero, zilch, nada. As you allready mentioned Bitcoin ain't no newcomer arriving at Tokyo, but instead left it's biggest fuming crater right there. I doubt there is still anybody leaving nearby discovering Bitcoin for the very first time.

Well in Tokyo you can find different kinds of ATMs and vending machines so there is no surprise that you find bitcoin ones located around the city which makes people educated and informed about bitcoin even if they don’t actually use it, but the thing that is still not yet implemented is spending it like normal money, that is going to take a while to make shops accept it.

[azguard]

--
I pointed out why earlier in this thread, it is the cost of electrical power.   In Tokyo we are paying well over 20 cents (US) per KWH!   In China power is probably 1/4 to 1/3 the cost it is in Japan.  So even though the Chinese government is very hostile to virtual currencies there is a lot more involvement.   Additionally the cost of living in China is much lower so that is what drives Chinese involvement.   

I don't think very many Japanese understand much about Bitcoin or even care.  Most of the people talking about Bitcoin here seem to be younger.   A lot of kids seem to know a good deal about it though.   

In some parts of Europe and the US power is pretty cheap and you have people heavily involved on their own, maybe not so much  Bitcoin but in virtual currencies of some kind.   It isn't the law that drives it, it is simple economics.

That being said Japan is used to virtual money.   There are more credit cards now and point cards are extremely popular.   While Japan is still more cash focused that say the US, in some ways people are more used to money being just numbers here.   Most on-going bills are paid from bank account transfers and mostly that is automatic.   The only monthly bill I have to pay is gas and even that I go to a convenience store like 7/11 and pay there.   In fact there are very few bills you can't pay at a convenience store and they don't charge any fees for that.

Japanese are very progressive when it comes to technology.   It isn't the government that drives that, it is the people that drive the government.   However when it comes to safety the Japanese are ultra-conservative.   That is what will slow Bitcoin adaption because Bitcoin isn't very safe in the eyes of many people.   

At the least, the danger of exchanges suddenly disappearing with thousands or millions of users money would be minimized if not, totally eliminated.
With Japan officially accepting Bitcoin, local exchanges would be wrapped up in laws and regulation, which would, in turn provide a somewhat safer avenue for the users/would-be.
All they'd have to worry about then would be the intense volatility and p2p transactions.

This can be true and good with your statement. This is something that has been waited for quite some time first talk about this to Japan officially accept was in 2015 but they stop talking about it and now all is different.

This may be signal for other countries to accept it as well.

[jovs]

the first japan bill containing virtual currencies is expected to come on april which recognizes bitcoin as a method of payment.Although,it doesnot define bitcoin as a legal currency,it is still considered as a remarkable progress for bitcoin in japan.Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.

This is really a good news that a particular country already accepted or already implemented for bitcoin to be part of their currency which is great and we can really prove out that its not possible for a country to accept bitcoin completely.I wish i had lots of bitcoins and go to japan to spend them without the need of exchanging to local fiat.

A country like japan has a highly industrialize technology base. So accepting bitcoin on that particular country is possible to happen. And if it happen by the end of the year or mid year the effect through the value of bitcoin will become a progress on upgrading bitcoin itself for transaction purpose. And as you said japan will be the host country of 2020 olympics. So the bitcoin demand will increase at its value also increase. And it would be the start of the other country on becoming open on accepting bitcoin on transaction wise or business base.

[vantyzz]

I hope that this news will stabilize the bitcoin rate. Thanks to the legalization bitcoin will receive many new users. This will strengthen its position

[BitcoinMarshal]

I hope that this news will stabilize the bitcoin rate. Thanks to the legalization bitcoin will receive many new users. This will strengthen its position

I am not sure about this bitcoin is not going to stable just in few days its need some good time and too many users for this Japan is bitcoin friendly but most of Japan's peoples have not too much information about this new generation taking interest but elders still not interested

[DarkIT]

Well, I hope this news will make other countries accept bitcoin, and make the price becomes higher and stable. I believe, that this is beginning to bitcoin is becoming more popular in developed countries.

[felipehermanns]

That is good news.
My question is: what will happen if BU make the fork? That will be really bad for this recent improvement in Japan. What you guys think?

[Dux2K]

I will say only this why they waited for so long, this will be good for bitcoin community.
Hope that other will follow them.

[Winitall]

Good news.
But is it mean Japan starting regulate crypto currencies  or bitcoin only?
What about payments in alt?