[2017-04-05] Bitcoin to Be Accepted at 260,000 Stores in Japan by This Summer

[Gembul]

News Bitcoin - Bitcoin to Be Accepted at 260,000 Stores in Japan by This Summer

Only a few days after bitcoin officially became a method of payment in Japan on April 1, two major Japanese retailers have partnered with Japanese bitcoin exchanges to start accepting the digital currency for payments.

Bic Camera is a major consumer electronics retail chain in Japan. Many of its stores are either located in front of a train station or are directly connected to one, making them very easily accessible with lots of foot traffic. Bitflyer is the largest bitcoin exchange by volume.

READ MORE >>> https://news.bitcoin.com/bitcoin-accepted-260000-stores-summer/

[ImHash]

In God I Trust

One of the greatest news I've heard in 2017 so far, but suddenly my happiness turned into sorrow when I remembered the max transactions per second that network of miners can effectively process is 3-5 and what will happen 1 year from now if we are still with no working solution and there will be demand for 25 transactions per second and growing exponentially?
BU needs to drop the childish actions such as spamming the network all the time to force the public to switch and support their hard fork and let the SW activates then LN should come in play  because clearly the world is signalling that they want to use bitcoin. (Japan being an advanced country with technological capabilities in support of using the bitcoin payment method and other countries will definitely follow).

[Iranus]

In God I Trust

One of the greatest news I've heard in 2017 so far, but suddenly my happiness turned into sorrow when I remembered the max transactions per second that network of miners can effectively process is 3-5 and what will happen 1 year from now if we are still with no working solution and there will be demand for 25 transactions per second and growing exponentially?
BU needs to drop the childish actions such as spamming the network all the time to force the public to switch and support their hard fork and let the SW activates then LN should come in play  because clearly the world is signalling that they want to use bitcoin. (Japan being an advanced country with technological capabilities in support of using the bitcoin payment method and other countries will definitely follow).

Actually I disagree, because SegWit also won't reach a consensus quickly at all.

There's an attitude of just hard forking and moving on later, as if a hard fork wouldn't be damaging and dividing to a very well established coin - not to mention that SegWit is much better as a temporary solution (no need for a HF, effective block size increase within reason, potential for LN in the future which BU doesn't have).

What's even more important is that Bitcoin wallets are accessible and the concept is obvious to the lay man.  I think this is underestimated - people don't have to know everything but when it's gradually being adopted it has to be even more obvious, so that hopefully it will be used more in these retailers.

[Coin-Keeper]

While we may not all agree on the "technical solution" to the problem, we can all acknowledge that mass deployment of BTC at retail outlets is going to demand quick transaction completion.  If I am standing in the number 2 position in a retail line and I am detained for 3 minutes while btc user #1 holds me up, I am pissed!

[Kprawn]

I think this is one of the reasons other governments does not want to accept Bitcoin as a "currency" ..... They know big retailers will take Bitcoin

mainstream and they want to stop or delay that. I am glad to see Japan opening their doors to Bitcoin and also to Bitcoin tourists. They will see

the benefit of this move in the future. 

[TIDOVEE]

I dont believe the slow transaction could affect the adoption by the government, Japan adopted it any way with all its challenges. The tech acumen of the japan environ favour a lot. I also know the population will pull strings in the technology

[royalfestus]

While we may not all agree on the "technical solution" to the problem, we can all acknowledge that mass deployment of BTC at retail outlets is going to demand quick transaction completion.  If I am standing in the number 2 position in a retail line and I am detained for 3 minutes while btc user #1 holds me up, I am pissed!

Have never been in such a situation but cant imagine waiting like I used to for confirmation of transaction on a queue buying bitcoin. It wont get easier thats y the best provided solution should be adopted. It is the envy of some other altcoin that have not spent enough time to expose its flaws

[richardsNY]

I think this is one of the reasons other governments does not want to accept Bitcoin as a "currency" ..... They know big retailers will take Bitcoin

mainstream and they want to stop or delay that. I am glad to see Japan opening their doors to Bitcoin and also to Bitcoin tourists. They will see

the benefit of this move in the future. 

Big difference is that Japan is having somewhat of a Bitcoin friendly attitude compared to how hostile other countries are. That being said, it remains to be seen how friendly Japan will remain when Bitcoin starts growing larger and larger. It won't have a significant impact in the coming years, but as Bitcoin gains more and more popularity, it will slowly become more of a potential threat to the government.

[Dangdutcoin]

Thats a great news for bitcoin world..

[Slark]

I wonder why they imposed this limit: "Customers are allowed to pay up to 100,000 yen ($904)"
Bitcoin is more suited to be used as payment method for expensive goods or trades, it can't be counterfeited after all.
Are they still afraid that there will some way to hack the payments?

[zhangswujip]

So 260,000 stores ? It’s great news ! but Bitcoin is not able to handle a volume of 1 transaction per day per store right now. 300.000 is about the maximum per daily volume it can handle. + no instant transaction so how is that going to work ?

[nobody911]

This is great news for the bitcoin community, hopefully more countries will follow Japan, but I see people complaining that we need Layer 2 because the network will be congested, Well in my opinion bitcoin is almost 10 years now, for it to work it means the governments of the world need to start adopting it, if they don't adopt it with in its first 10 years, then when?

[maybtc]

If this year at least 100 thousand sellers will try to work with Bitcoin, then next year there will be millions of them.

[pixie85]

Great news! Japan is leading the way.

So 260,000 stores ? It’s great news ! but Bitcoin is not able to handle a volume of 1 transaction per day per store right now. 300.000 is about the maximum per daily volume it can handle. + no instant transaction so how is that going to work ?

We still have time it's not going to happen in a month. I'm sure by the time there is a real need for this number of transaction we'll get an update that will make transactions faster.
People are already looking for a way to do it, we'll just need to choose one project and give it our full support.

[renfangfua]

Japan agreed, it will be nice test platform, people will finally realize than that segwit and the off-chain and side chain tech will bring is not equal to the solution of DASH it’s instant sent technology, the sooner people realize this the better we are all off.