Japan to accept Bitcoin as payment method.

[Pattberry]

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.

Japan is really showing the world how things have to be done and they are making things convenient to their tourists by starting accepting bitcoin and it will be a huge thing if people are able to spend through bitcoin during the Olympics which will be the major attraction in the whole world and there will be another halving during that time and i wonder what the price would be at that time.

[1714862243]

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[digaran]

So if it does not recognize it as legal currency then what are they doing exactly? I thought Japan was allowing the use of bitcoin since 2 years ago?
A country can not say that they'll accept something as a payment method which that thing is basically a currency and doesn't include laws in written form and doesn't add those laws to their constitution(book of laws). because you know talking words wont cut it.
Anyhow, who ever does not accept bitcoin as currency is an idiot IMO wanna know why? you as a buyer are buying something that costs $500 so you then pay with bitcoin and the seller automatically receives fiat in their bank account they only are short minded not to keep and hold the bitcoins to sell with much more profit later let them be, they can also price their products a few bucks higher to cover the conversion fees that the processor is deducting from the fiat amount sending to their bank account but you know how many people over time would purchase from you after they find out about bitcoin and it's benefits and convenience of using?

[romero121]

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.

Japan is really showing the world how things have to be done and they are making things convenient to their tourists by starting accepting bitcoin and it will be a huge thing if people are able to spend through bitcoin during the Olympics which will be the major attraction in the whole world and there will be another halving during that time and i wonder what the price would be at that time.

Truly Japan is evolving as an example for the digital growth and technology advancing in all sectors of life. They give importance to technology, because of the same Japan progress high in the Country's infrastructure and as a center for more markets. The support from government is the one that makes it effective.

[Labumi]

While they are going to consider Bitcoin as a payment method, they even recognise it's asset-like qualities and seem to have a deeper understanding of Bitcoin.  It's very refreshing compared to, say, Indian politicians still thinking it might be a Ponzi scheme.

Absolutely right. the Japanese had thought one step ahead compared with countries that have a level of higher market quality, such as the US or China. Japan is more concerned with the quality and efficiency of every thing that is needed by citizens or the world. So, the possibility of Japan is a country that became the precursor to the acceptance of the bitcoin as payment tools
 

[eternalgloom]

While they are going to consider Bitcoin as a payment method, they even recognise it's asset-like qualities and seem to have a deeper understanding of Bitcoin.  It's very refreshing compared to, say, Indian politicians still thinking it might be a Ponzi scheme.

Absolutely right. the Japanese had thought one step ahead compared with countries that have a level of higher market quality, such as the US or China. Japan is more concerned with the quality and efficiency of every thing that is needed by citizens or the world. So, the possibility of Japan is a country that became the precursor to the acceptance of the bitcoin as payment tools
 

I would not say that it is something exclusive to Japan, there are already some European countries that have a similar vision about Bitcoin.
Just take a look at this list, specifically most European countries on there have a pretty good stance on Bitcoin.

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

[thisappointed]

A new round of greater fools not knowing what they do. Investing now is extremely risky.

Are you saying that you are also a fool by investing your money in bitcoin, by investing your time in bitcoin? Well, yeah it is true that investment is risky but I don't think that it is risky when it comes to bitcoin. It will become risky if you are not patient enough to wait for the right time comes where you can convert your bitcoin into fiat, and if you are just going to convert it recklessly, then it is possible that you will lose huge profit from it.

And it is a wise decision of Japan because bitcoin is a very great coin amongst all of the Altcoins here in the crypto world, some of us are just seeing bitcoin that way, they have still doubts and what if, but I'm sure that they will regret it in the end, and they will said "I should have invested on bitcoin a long time ago".

[maydna]

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.

Read about it couple of days back. Awesome news for bitcoin users. We can expect it to be mass adopted from now on. Slowly but surely. Japan was always friendly towards Bitcoins and are way ahead when it comes to technology or technological advancements. The world need to catch up to them.

i see that there is mass adoption in every country and i am sure that bitcoiner is rise from the one year ago and i hope the mass adoption will be reach more people. so if this is happen, then we can see that there will be many people is using bitcoin in many places and this could be affect for another country that will accepting bitcoin like what japan did. i think if one country is interesting with new technology, they will learn about that and if they see that new technology can give advantage for them and people, then i think they will apply and approve new technology as their part.

[Mumbeeptind1963]

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.

Well, thats good. Countries are now aware in a cryptocurrency so called bitcoins. I hope that in our country it will have that too. I think someday it will come and it is a great help for us.

[LFC_Bitcoin]

Japan are no where near as involved as China but this can still only be good news for a country with such a huge population to recognise bitcoin as an official currency.

More fuel for the rocket.

[iqlimasyadiqa]

Japan are no where near as involved as China but this can still only be good news for a country with such a huge population to recognise bitcoin as an official currency.

More fuel for the rocket.

This is a good start. because the creation of such a change then other countries will try to apply bitcoin as one of the official currency in their country.

[posternat]

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.

Thats a great news from such a technically advanced country like japan.Previously,most of japanese lost their interest in bitcoin due to Mt.Gox shut down.Its good to see now they have started adopting bitcoins once again.Since 2020 Olympics is a world event,if bitcoin is accepted at that time,then surely it would give a big publicity to bitcoin through out the world.

I agree with you. The Olympics is a very important event. And many people will learn about bitcoin. This will make it more popular. It is a pity that the Olympics are not this year. This would help bitcoin

Yes, if so, this might be a form of advertising bitcoin, and can help more to popularize, maybe, accepting as way of payment like using it as an option for transaction, then people will be curious on what is this then they gonna search for it and learn how to have it.

[darkangel11]

I love good news like this. What I find interesting is the fact that Asians are considered the smartest people in the world with the average IQ in Japan and China being over 100, yet China constantly fights bitcoin and their stubborn governments doesn't want innovation and technology to flourish. The Japanese on the other hand embrace everything that can make their life easier.

[YuginKadoya]

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 never have doubted japan in the likes of innovation in their country and if they had see some other stuff that are invented by somebody or someone they would rather bought it and make something big in terms of that invention for their countries sake! and in terms in bitcoin they had seen something innovative with it that is why they are thinking of bitcoin for the transaction method.

[antonioa]

I hope that this news will very well affect bitcoin. Thanks to this important government decision, bitcoin will become stronger and its price will stabilize.

[mhd japar siregar]

if japan has received bitcoin, I feel, in the near future, the various countries of the world will start accepting bitcoin.
Japan is a country highly regarded the technology that they have, so they might develop something extraordinary for bitcoin.

[erikalui]

That's awesome to hear and another country willing to use bitcoin as a payment method gives it global recognition as well. Hope my country to takes some steps and promotes the currency as now they are just calling out the users of crypto currencies.
 
I heard about their acceptance in Jan when their banks were talking about using bitcoins and blockchain technology. I guess it's because they have many users who are using bitcoins. I found this article where they have many conditions for users of bitcoins:

https://swarajyamag.com/insta/government-notifies-simplified-income-tax-return-forms-for-easy-compliance

[peter0425]

i really hope that this news will bring bitcoin closer to being mass adopted globally. This is really good news for us, since we all know that Japan is no. 1 in terms of innovation technology solutions. By accepting bitcoin, I believe bitcoin ecosystem will be boosted by the Japan. So we have China (which influence is declining), Japan is not far behind. They may even over take China now, as the Chinese is cracking down bitcoin trading there.

[chaser15]

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.

It's a regulation about the usage of bitcoin and that will all the possible measurements if bitcoin was being used to an illegal activities same with their Yen currency or outside currency. That kind of movement is really a good sign of having bitcoin be accepted fully at 100%, not just in Japan but in any other country that will follow the same or already existed there.

Just keep in mind that if the regulations or any laws about bitcoin will be pushed hard, expect a fiat life with bitcoin life as they will have same regulations that will applied legally.

[e-coinomist]

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.

[wck]

Japan are no where near as involved as China but this can still only be good news for a country with such a huge population to recognise bitcoin as an official currency.

More fuel for the rocket.

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.