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May 03, 2017, 06:32:04 PM
 #21

This is great news. 10 exchanges? Wow. My country I think only have 2. What's good with this is that since they've already started treating bitcoins as legal payment, this could encourage more people to get into bitcoins. Sure some might first start with trading but considering how tech-savvy the Japanese population is, I wouldn't be surprised if they find other uses for it. Just as they've led the world in use of robotics, I hope they'll do the same with bitcoins.

Japan is moving very fast and stable because its very good work ethic and has become a culture for a long time, it doesn't take long to apply bitcoin in this country let alone about exchanger addition. I think Japan only takes the momentum of China exchanger policy, and enforces it with more positive interventions, so the volume increase is not hampered by the convoluted rules.

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May 03, 2017, 07:48:53 PM
 #22

The Japanese Bitcoin exchange market and industry have matured significantly over the past few months, to the point in which the country’s largest financial institutions and corporations have started to launch digital currency exchanges and trading platforms.

This is a very good news to all of us and we did see on how did Japan accepted and embraced bitcoin, they are a real game changer unlike China. It's a big country but all of the progress are being stopped by them.


In fact, one month after Japan started recognizing Bitcoin as a method of payment, more than ten new companies in the country are reportedly applying to become Bitcoin exchanges. Meanwhile, institutional investors are increasingly gaining interest in the digital currency.

It's really amazing to see even it is only a very short amount of time, we did see on how fast was the progress of bitcoin when it comes to pricing. Japan did really contributed the most.

How many Japanese Bitcoin exchanges do you think will launch this year?

It's hard to say because it will open a lot of new businesses and maybe they will be catering 2 big major exchange.

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May 03, 2017, 08:17:59 PM
 #23

Well, does it matter how many exchanges are in Japan? As long as there are reputable and secure exchanges available I would be glad.
I know that Japanese version of BitLicense is kinda harsh, so at this point it is safe to assume that every new/existing Japanese exchange will be similar to Gemini.

Interesting fact: Recently more than 50% of trading has taken place in Japanese yen, and only 28% in USD.
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May 03, 2017, 11:41:52 PM
 #24

Japan getting into the mix could balance out china's influence.

If japan goes into the mining business, it could also help to offset miner centralization which led to bitcoin unlimited having so much unfortunate support.

Russia entering the game could also have more positive effects in terms of increasing miner decentralization and nullifying china's influence on crypto.

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May 03, 2017, 11:51:23 PM
 #25

This is great news. 10 exchanges? Wow. My country I think only have 2. What's good with this is that since they've already started treating bitcoins as legal payment, this could encourage more people to get into bitcoins. Sure some might first start with trading but considering how tech-savvy the Japanese population is, I wouldn't be surprised if they find other uses for it. Just as they've led the world in use of robotics, I hope they'll do the same with bitcoins.

Japan is moving very fast and stable because its very good work ethic and has become a culture for a long time, it doesn't take long to apply bitcoin in this country let alone about exchanger addition. I think Japan only takes the momentum of China exchanger policy, and enforces it with more positive interventions, so the volume increase is not hampered by the convoluted rules.
Well I wouldn't call the Japanese a culture with good work ethic per say, they have the willpower to force themselves to work but by the sounds of the people I have met from Japan a lot of it is just getting to work and working so that you don't lose your job, since it's hard to recover otherwise.
Having more volume and influence from Japan would be a good thing, I hope the market continues to grow there.
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May 04, 2017, 12:16:11 AM
 #26

Japan getting into the mix could balance out china's influence.

If japan goes into the mining business, it could also help to offset miner centralization which led to bitcoin unlimited having so much unfortunate support.

Russia entering the game could also have more positive effects in terms of increasing miner decentralization and nullifying china's influence on crypto.
I do agree. China's influence will going to be weak as Japan and Russia tend to increase the volume in their country. This is such a good news for every bitcoin holders that hoping bitcoin to be used as major currency.

 
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May 04, 2017, 12:26:06 AM
 #27

That is good, bitcoin japanese exchanges increasing, it is good for growing of bitcoin on there
 in my opinions will many exchangers bitcoin,
because bitcoin started​ be adopted by Japan and it will takes many users of bitcoin on Japan
slow but sure bitcoin exchangers will be increasing on other countries.
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May 04, 2017, 01:31:29 AM
 #28

Japan getting into the mix could balance out china's influence.

If japan goes into the mining business, it could also help to offset miner centralization which led to bitcoin unlimited having so much unfortunate support.

Russia entering the game could also have more positive effects in terms of increasing miner decentralization and nullifying china's influence on crypto.

I don't think japan will offset the miner centralization of china simply because the electricity rate there is very high compared to china. It's another thing if they use other kind of power beside electricity. On the other side,it's good to see bitcoin grow very well in Japan.
Answering the op, i think about 2 more exchange will launch in japan this year.

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May 04, 2017, 01:48:00 AM
 #29

Japan getting into the mix could balance out china's influence.

If japan goes into the mining business, it could also help to offset miner centralization which led to bitcoin unlimited having so much unfortunate support.

Russia entering the game could also have more positive effects in terms of increasing miner decentralization and nullifying china's influence on crypto.

I don't think japan will offset the miner centralization of china simply because the electricity rate there is very high compared to china. It's another thing if they use other kind of power beside electricity. On the other side,it's good to see bitcoin grow very well in Japan.
Answering the op, i think about 2 more exchange will launch in japan this year.
As the bitcoin users increase the increase in the bitcoin circulation can be expected to happen. The same can be used as a profiting source by the exchange authority or corporates who have good backing to start a exchange website. Also the risk is low, because of the legalized use.
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May 04, 2017, 05:04:24 AM
 #30

Probably this one of the reason aside from ETF review why price of bitcoin today pump an all time high no wonder if prices will go to the moon for the next few months..nearly approaching $2000/btc. 


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May 04, 2017, 06:34:12 AM
 #31

Japan getting into the mix could balance out china's influence.

If japan goes into the mining business, it could also help to offset miner centralization which led to bitcoin unlimited having so much unfortunate support.

Russia entering the game could also have more positive effects in terms of increasing miner decentralization and nullifying china's influence on crypto.

I always said that to feel the impact of Japanese market coming into the bitcoin landscape, I say lets wait for at least 6 months. But damn, looks like Japan is getting really hard on it and establishing a lot of exchanges there. Japan is truly leading the revolution for bitcoin to be really go globally in the next few years. In contrast, China's influence of the market is dwindling because of the Japanese aggressive move in terms of volume trading. They will probably leave the mining for the Chinese now, as electricity in Japan is expensive. At least we have someone to balance out the effect of the Chinese in bitcoin ecosystem.

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May 04, 2017, 06:54:10 AM
 #32

Japan is a big and progressive county, recognizing bitcoin is already a big success for the entire market, I can already see how big the demand would be in the future to come. Honestly, I am not surprise with the current price hike, this should brought by the emerging market of bitcoin, more development makes bitcoin more precious.

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May 04, 2017, 08:55:31 AM
 #33

This is just the beginning. The other countries are going to take notice of what the Japanese government did. I am sure that China and Russia are carefully studying the implications. And trust me, if China recognizes BTC, it is going to be huge

It would be interesting to know what are the real reasons for the Japanese government to be so loyal toward Bitcoin. Regarding other countries, Russia is highly unlikely to follow Japan's lead, at least, not to the degree of accepting Bitcoin as a rival currency. Further, I warn people not to be too enthusiastic about governments finally "noticing" Bitcoin. It is not given that the "acceptance" that these governments may be looking and going for will make many Bitcoin users happy

It is not even clear as of yet what the Japanese government is actually up to

Yes, we can't know what the Japanese government is up to, but regardless, they are already doing a good thing for bitcoin. I think the rise we are witnessing nowadays is in a good measure due to the fact that the Japanese government has recently started treating bitcoin legally as a form of payment

We can't say that for certain

It may be a Trojan horse decision (don't know how to call such actions properly). I don't necessarily mean evil or otherwise rogue intentions but I'm still curious what has been driving them to do that. After all, accepting Bitcoin as legal tender (provided it is really so) means tougher competition for the Japanese Yen. On the other hand, the government of Japan was fighting with deflation for literally decades, so they may be wanting exactly that, i.e. inflation for the Yen?

They say some inflation is healthy for the economy, they say that deflation is what should be avoided at all costs because it encourages people to not spend their money, so I think you have a point here. But if they think Bitcoin will help to save their economy and that's why they encourage using it, I think that's a good thing.
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May 04, 2017, 02:10:05 PM
 #34

The news coming from Japan are very good for Bitcoin. Japan is a huge market, a huge number of users where there is a very close relationship with technology. It´s possible that the rise in the price of bitcoin we are experiencing is closely related to what is happening in Japan. It will be interesting to see if other countries follow their example, in particular will have to see the steps that occur in China, neighbor and rival.
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May 04, 2017, 02:18:07 PM
 #35

The Japanese Bitcoin exchange market and industry have matured significantly over the past few months, to the point in which the country’s largest financial institutions and corporations have started to launch digital currency exchanges and trading platforms.

In fact, one month after Japan started recognizing Bitcoin as a method of payment, more than ten new companies in the country are reportedly applying to become Bitcoin exchanges. Meanwhile, institutional investors are increasingly gaining interest in the digital currency.

How many Japanese Bitcoin exchanges do you think will launch this year?

This is a good news about bitcoins adoption and for sure price will surely main affected here which means it will surely rise up.Its not surprising that adoption on that place comes very high because thats the origin on where satoshi lived(correct me if im wrong)  they do accept its invention and now they are now on the trend.Talking about how many possible exchanges will come out,no one really knows after all.


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May 04, 2017, 02:35:18 PM
 #36

Here are some 2015 GDPs via Google:

Russia: 1.3 trillion
India: 2.0 trillion
Japan: 4.1 trillion
China: 10.9 trillion
USA: 18.0 trillion

People have always focused on China, and Russia to some extent. But Japan alone is already quite significant. And India will likely follow this month. Could this start as a trickle, and then snowball ? Could this be the beginning of the time that all of us have been waiting for?
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May 04, 2017, 02:55:08 PM
 #37

Here are some 2015 GDPs via Google:

Russia: 1.3 trillion
India: 2.0 trillion
Japan: 4.1 trillion
China: 10.9 trillion
USA: 18.0 trillion

People have always focused on China, and Russia to some extent. But Japan alone is already quite significant. And India will likely follow this month. Could this start as a trickle, and then snowball ? Could this be the beginning of the time that all of us have been waiting for?
Do you have a source for mentioning that India would likely soon be following?
I would've thought that they could very well be implementing regulations against Bitcoin as opposed to for it...

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May 04, 2017, 03:12:26 PM
 #38

https://news.bitcoin.com/indias-government-may-be-preparing-to-legalize-and-regulate-bitcoin/

Maybe likely was the wrong word to use. Other "sources" I've read made it sound that way. But we should find out soon one way or the other.
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May 04, 2017, 03:19:43 PM
 #39

This is just the beginning. The other countries are going to take notice of what the Japanese government did. I am sure that China and Russia are carefully studying the implications. And trust me, if China recognizes BTC, it is going to be huge

It would be interesting to know what are the real reasons for the Japanese government to be so loyal toward Bitcoin. Regarding other countries, Russia is highly unlikely to follow Japan's lead, at least, not to the degree of accepting Bitcoin as a rival currency. Further, I warn people not to be too enthusiastic about governments finally "noticing" Bitcoin. It is not given that the "acceptance" that these governments may be looking and going for will make many Bitcoin users happy

It is not even clear as of yet what the Japanese government is actually up to

Yes, we can't know what the Japanese government is up to, but regardless, they are already doing a good thing for bitcoin. I think the rise we are witnessing nowadays is in a good measure due to the fact that the Japanese government has recently started treating bitcoin legally as a form of payment

We can't say that for certain

It may be a Trojan horse decision (don't know how to call such actions properly). I don't necessarily mean evil or otherwise rogue intentions but I'm still curious what has been driving them to do that. After all, accepting Bitcoin as legal tender (provided it is really so) means tougher competition for the Japanese Yen. On the other hand, the government of Japan was fighting with deflation for literally decades, so they may be wanting exactly that, i.e. inflation for the Yen?

They say some inflation is healthy for the economy, they say that deflation is what should be avoided at all costs because it encourages people to not spend their money, so I think you have a point here. But if they think Bitcoin will help to save their economy and that's why they encourage using it, I think that's a good thing.

I agree with Deisik, they wouldn't jump the bandwagon if they wouldn't have any benefit from it. I still can't imagine how it could be eventually harmful to bitcoin though. Maybe they really just want to jump start their slowing economy. Bitcoin would encourage people to pull out some savings out to buy it for the profit. When they do cash out, that money is going back to the economy. Even if they just hold, the gov't can earn from the exchanges.

Here are some 2015 GDPs via Google:

Russia: 1.3 trillion
India: 2.0 trillion
Japan: 4.1 trillion
China: 10.9 trillion
USA: 18.0 trillion

People have always focused on China, and Russia to some extent. But Japan alone is already quite significant. And India will likely follow this month. Could this start as a trickle, and then snowball ? Could this be the beginning of the time that all of us have been waiting for?
Do you have a source for mentioning that India would likely soon be following?
I would've thought that they could very well be implementing regulations against Bitcoin as opposed to for it...

Yeah, they seem to be quite negative towards it and might even see it as an alternative method for people trying to hoard money (they demonetized their 2 largest bills).

 
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May 04, 2017, 03:21:54 PM
 #40

This is just the beginning. The other countries are going to take notice of what the Japanese government did. I am sure that China and Russia are carefully studying the implications. And trust me, if China recognizes BTC, it is going to be huge

It would be interesting to know what are the real reasons for the Japanese government to be so loyal toward Bitcoin. Regarding other countries, Russia is highly unlikely to follow Japan's lead, at least, not to the degree of accepting Bitcoin as a rival currency. Further, I warn people not to be too enthusiastic about governments finally "noticing" Bitcoin. It is not given that the "acceptance" that these governments may be looking and going for will make many Bitcoin users happy

It is not even clear as of yet what the Japanese government is actually up to

Yes, we can't know what the Japanese government is up to, but regardless, they are already doing a good thing for bitcoin. I think the rise we are witnessing nowadays is in a good measure due to the fact that the Japanese government has recently started treating bitcoin legally as a form of payment

We can't say that for certain

It may be a Trojan horse decision (don't know how to call such actions properly). I don't necessarily mean evil or otherwise rogue intentions but I'm still curious what has been driving them to do that. After all, accepting Bitcoin as legal tender (provided it is really so) means tougher competition for the Japanese Yen. On the other hand, the government of Japan was fighting with deflation for literally decades, so they may be wanting exactly that, i.e. inflation for the Yen?

They say some inflation is healthy for the economy, they say that deflation is what should be avoided at all costs because it encourages people to not spend their money, so I think you have a point here. But if they think Bitcoin will help to save their economy and that's why they encourage using it, I think that's a good thing.

That would make sense if Bitcoin price surged to a million dollars per coin

Since Bitcoin is likely to be even more deflationary than any other currency out there. What fiat currency do you know that has grown in value a few times within a year? There is no such currency since the growth of that scale would be devastating to any economy. In this manner, the whole effort may be aimed at substituting the Japanese Yen with Bitcoin in the savings of people so that greater amounts of local currency entered circulation (which would be good for inflation)

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