effect of Japan on bitcoin price speculation

[dihari]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Well, if this increasing bitcoin price is caused by the thing you have showed, I hope there will be more exchange that provide more international currency pair with bitcoin like btc/eur, btc/cad, btc/gbp, and more pair in another foreign currency. It will help bitcoin widespread and regulated.

[1714804974]

1714804974

[1714804974]

1714804974

[1714804974]

1714804974

[Weatherby]

I think that in recent years, Japan will have an impact on bitcoin. If attempts to develop a crypto currency will be successful, it will significantly raise the price.

What do you mean by attempts to develop another currency and it will significantly raise the price of bitcoin.

Well, if this increasing bitcoin price is caused by the thing you have showed, I hope there will be more exchange that provide more international currency pair with bitcoin like btc/eur, btc/cad, btc/gbp, and more pair in another foreign currency. It will help bitcoin widespread and regulated.

More currency pairings might increase the volume of bitcoin it will be interesting to see major economies being used to pair bitcoin and i am sure if any exchange try to pair those ,it is no doubt that you will be seeing a spike in volumes and that is what it is showing.I expected a correction already but the price is looking strong for now to have any major changes .

[KennyR]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Well, if this increasing bitcoin price is caused by the thing you have showed, I hope there will be more exchange that provide more international currency pair with bitcoin like btc/eur, btc/cad, btc/gbp, and more pair in another foreign currency. It will help bitcoin widespread and regulated.

As quoted the legal usageof bitcoin in a developing nation which has a strong technology profile will be considered as a key for other countries to regulate bitcoin as well increase the usage of bitcoin. Already most popular currency pairing as well based on locality were​found on exchange websites. Now this will soon be common even on government websites.

[CyberKuro]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Just imagine what will happen if the whole of Europe or the USA declare bitcoin as a legal currency and not just as a commodity. Bitcoin will fly

if you give it wings.... but governments are holding the strings that blocks it from flying. I recently asked a popular gaming site on their position

on accepting Bitcoin as a online payment option and they said that they cannot do this until bitcoins are accepted as a legal tender. 

Agreed and Japan seems to be the best country which has declared their perception about bitcoin as the king of cryptocurrency world.
Japan exchanges has one of the highest rate of daily transaction and we expect for massive adopters in there which they might be adopt this technology. Unfortunately, other countries still doesn't state it as legal tender for daily transaction but development of bitcoin in Japan might inspire others to follow, hopefully. Maybe, other major countries will permit it if bitcoin become scalable and there is no transaction issue such as we have right now.

[Pursuer]

Japan exchanges has one of the highest rate of daily transaction

you can't measure the "rate of daily transactions" going in and out of an exchange, unless you know all their bitcoin addresses and are watching and analyzing the whole blockchain.
I think you mean the "daily trade volume" which is a completely different thing, and yes that is high.

and we expect for massive adopters in there which they might be adopt this technology.

the technology is the blockchain technology and adopting that means creating your own alternate cryptocurrency. if they adopt that, then it has nothing to do with bitcoin.

Maybe, other major countries will permit it if bitcoin become scalable and there is no transaction issue such as we have right now.

what you call "transaction issue" is not a concern for any country while making a decision about letting bitcoin be legal or not or even do what Japan did and accept it as a real currency.

[ivanpoldark]

That would be surprising if Japan with its high tech industry and progressive thinking remained at the side for too long. This country has already surrendered its position in manufacture to China and South Corea. They can`t afford to lost future financial instruments like bitcoin. Hence, such a high demand and interest to BTC, and i think its just starting.

[YuginKadoya]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Well,we couldnot expect any price change in bitcoin in short term.But japan accepting bitcoin would definitely have a positive impact on bitcoin's price on a long run.Demand for bitcoin would increase which would eventually increase bitcoin's price.

Every Positive news regarding bitcoin would have a great effect to it, and by japan accepting and using it, we can see a slight movement up, are we gonna see a $1300 mark for the month of May? we will see, and not only japan that is gonna be open about bitcoin because next year will be very fruitful for bitcoin because Russia will accepting and be using bitcoin as well, I think it will be another positive feed back for us!

[freedomno1]

Japan is pretty chill though they like a cash-based society regardless of how much technology they have.
From vending machines to shops they avoid the high fees Visa and credit cards have so other than suica its really just plain old cash that gets the job done. What is really needed is more bitcoin tourists using the shops that take Bitcoins ^^.

That said the market penetration is there but the usage is a bit low as can be interpolated from the Bitcoin BTM machines in operation.
https://coinatmradar.com/country/107/bitcoin-atm-japan/

I have noticed some bitcoin price tracking sites like Coindesk, bitfinex and other sites has added the Yen (Japnese currency) in the price chart along with the USD and EUR measuring. It shows that bitcoin implementation rate in Japan and rate of swap over the cash less society. I do not think that touristers will attract to use the BTC atm in Japan as they don't have enough tourist spots in there.

Having been to Japan in the last week trust me when I say there is a demand for Bitcoin machines in Tokyo and throughout Japan for tourists on the JR Pass using the local exchanges in Asakusa and Shinjuku at TravelX the exchange rate of a single Canadian Dollar was only 68 Yen per dollar while the best rate I found was a mere 72 outside of Narita.

The market Rate is 80-81 even with a commission rate of 5-7% a Bitcoin machine would still get 74/76 yen per Dollar and have more bang than using a currency exchange. The 7 Eleven Machines have a $5 Fixed fee and a near 3 Cent/yen per dollar fee so around 3% for me but it really depends on the persons banking what their cost is so BTM's do provide valid competition both on the Visa conversion side and the people who bring extra cash over as long as the machine has a decent set of bills it can recognize. Either way the spread is there for healthy competition.

CASH ABM -SERVICE CHARGE  5.00 Per Withdrawal
TOSHIMA-KU TOKYO 100.00 JPY @ 1.268300000000
SHIBUYA-KU TOKYO 200.00 JPY @ 1.259800000000
AOBA-KU SENDAI-SHIMIYAGI 500.00 JPY @ 1.255200000000
NAKAGYO-KU KYOTO-SKYOTO 500.00 JPY @ 1.250400000000

https://www.google.ca/?gws_rd=ssl#q=yen+to+cad
Current Cad Rate 1.2375

With good food tons of shrines, anime goods, bars and good vending machine drinks + Rail passes money drips out ^^.
Hopefully not another machine in Ginza though (... hard as heck to find anything with all those buildings) Mumble The Snack

That said this is Gox's homebase there are users lurking around just not as many merchants at least haven't looked at how many use Point of Sale.
I do like how a city is crowdfunding in Japan using Bitcoin
http://www.coindesk.com/japanese-city-raises-bitcoin-donations-preserve-historic-park/
https://coincheck.com/donations/16

Making a small dent ^^

[maydna]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

i am expecting high increase of bitcoin price as bitcoin is legal in japan, i am thinking that it will give a good affect for bitcoin price. the volume is increase also and we can see in japan market, bitcoin have a good place and i hope people from japan will help bitcoin like in the other place. in short time, i expected the price will be increase like what we see now and for long term, the other country will be following japan and it will make many people will adopt bitcoin and makes the price is increase into next level.

[joshy23]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Well,we couldnot expect any price change in bitcoin in short term.But japan accepting bitcoin would definitely have a positive impact on bitcoin's price on a long run.Demand for bitcoin would increase which would eventually increase bitcoin's price.

Every Positive news regarding bitcoin would have a great effect to it, and by japan accepting and using it, we can see a slight movement up, are we gonna see a $1300 mark for the month of May? we will see, and not only japan that is gonna be open about bitcoin because next year will be very fruitful for bitcoin because Russia will accepting and be using bitcoin as well, I think it will be another positive feed back for us!

We are above $1300 now and touching $1400 soon. Indeed, Japan has influence the big jump of bitcoin price since  the its inception earlier this month. I hope that other country will follow what Japan has set up. So that the price of bitcoin will even soar up to the end of 2017.

[Maheshkumar_Hrangkhawl]

We are above $1300 now and touching $1400 soon. Indeed, Japan has influence the big jump of bitcoin price since  the its inception earlier this month. I hope that other country will follow what Japan has set up. So that the price of bitcoin will even soar up to the end of 2017.

Apart from Bitfinex, none of the exchanges are showing a rate of more than $1250 per coin (right now it is around $1350 in Bitfinex). The rate is $1241.10 in Bitstamp, and $1238.79 in BTC-E. So there is some distance to go before we touch $1300.

[virasog]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Well, if this increasing bitcoin price is caused by the thing you have showed, I hope there will be more exchange that provide more international currency pair with bitcoin like btc/eur, btc/cad, btc/gbp, and more pair in another foreign currency. It will help bitcoin widespread and regulated.

Yes, all these markets compared with bitcoins will give good boost to the bitcoins. You remember we have pairs in forex like USD/JPY, USD/AUD and now these pairs with bTC is a new trend. Hope it will provide more value to bitcoins.

[lionheart78]

the technology is the blockchain technology and adopting that means creating your own alternate cryptocurrency. if they adopt that, then it has nothing to do with bitcoin.

Adopting does not necessary means you are to create a new cryptocurrency, it is more likely you are going to accept Bitcoin and its technology.  Use it in whatever is advantage you can have over other currency.  So basically when someone adopt, it does not mean creating a new one, it is either using the current technology with Bitcoin or creating a new one.

what you call "transaction issue" is not a concern for any country while making a decision about letting bitcoin be legal or not or even do what Japan did and accept it as a real currency.

Everything about the coin either it is a good thing or a bad thing is always an issue with the government specially if they are to adopt Bitcoin.  They study both the negative and positive impact and if ever positive outweigh the negatives, then they will more likely to adopt it.

[ArdiPrabowo]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Japan's adoption of bitcoins would definitely have an impact on bitcoins.But it would take some time to happen.

japan regulated bitcoin to legal currency
effect bitcoin price this now incraese very high

[Vaskiy]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Japan's adoption of bitcoins would definitely have an impact on bitcoins.But it would take some time to happen.

japan regulated bitcoin to legal currency
effect bitcoin price this now incraese very high

The ongoing price increase might be depending upon the regulations made by Japan on bitcoin usage, the Russian government accepting bitcoin as well the increasing contribution to bitcoin​from the Asian countries. Possibly the upcoming days too give us a big increase in users as well the price.

[Mbokani]

price increase might be depending upon the regulations made by Japan on bitcoin usage, the Russian government accepting bitcoin as well the increasing contribution to bitcoin​from the Asian countries. Possibly the upcoming days too give us a big increase in users as well the price.

The Asian countries have been participating in the bitcoin echo system from the beginning and it is evident from the fact that many huge farms are centered around China and the first big bitcoin exchange MTGOX was from Japan ,so you really cannot undermine the contribution of these countries and it is a good thing for the government to come up by regulating bitcoin and now more countries will be regulating bitcoin and with the review of ETF coming up i guess we would see another rally.

[RoommateAgreement]

i think we can say that the current rise is because of Japan, at least partly.
but the more important effect of Japan, which will also affect the price in long term, is the effect they had on other countries. a lot of other countries are now talking about doing a similar thing. Russia for example has finally changed their mind and are taking a more friendly approach towards bitcoin. and with more countries accepting bitcoin and making it officially legal, the price can spike up fast.

[hase0278]

i think we can say that the current rise is because of Japan, at least partly.
but the more important effect of Japan, which will also affect the price in long term, is the effect they had on other countries. a lot of other countries are now talking about doing a similar thing. Russia for example has finally changed their mind and are taking a more friendly approach towards bitcoin. and with more countries accepting bitcoin and making it officially legal, the price can spike up fast.

So probably in long term Japan's bitcoin price speculation will also have good effect? If all other countries will take Japan as an example it would be positive on the outside on the long run but it will be a hassle since I know many regulations will be created pertaining to bitcoin which might make it hard for it to be converted to fiat on a daily basis. Also, it might bring more price manipulation in the future because of many countries speculating bitcoin that might try to control the price.

[Pearls Before Swine]

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

well it seems like they will keep adding positive value to bitcoin.

as far as i know, a lot of people in japan still use mostly cash for payments, so any digital payment could be huge in japan because compared to cash it's much more convenient.

No it isn't.   Waiting on confirmations?   Transaction fees?  Fuck that, it takes 12 seconds to give cash and get change back.  Even less if you have the exact amount.   Plus you have to go and buy bitcoin to begin with.   Not at all more convenient.

[bamboylee]

snip
No it isn't.   Waiting on confirmations?   Transaction fees?  Fuck that, it takes 12 seconds to give cash and get change back.  Even less if you have the exact amount.   Plus you have to go and buy bitcoin to begin with.   Not at all more convenient.

Though what you mentioned are all valid issues bitcoin is facing right now that is holding adoption and price hike back, the topic is the effect of japan's move to bitcoin. Making bitcoin legal in Japan opens a lot of opportunity for bitcoin users and maybe even other cryptocurrencies. Japan will be the model for other countries and if it becomes successful in Japan, other countries may follow and will make bitcoin grow more on price.