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Author Topic: Bitcoin Japanese exchanges increasing  (Read 3457 times)
Wesimon
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May 08, 2017, 04:55:15 PM
 #61

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 could be contributing to the recent rise in bitcoin price. There are probably several factors, but it has to play a role.

That is correct. Due to the high demand of bitcoin in Japan, bitcoin's price soared up very high and the evidence would be the 10 new companies that applied to become a Bitcoin exchanger. The recognition of Japan to Bitcoin and accepts it as a mode of payment triggered many people to engage in bitcoin, thus, making the demand go high rapidly.

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May 08, 2017, 06:03:19 PM
 #62

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 could be contributing to the recent rise in bitcoin price. There are probably several factors, but it has to play a role.

That is correct. Due to the high demand of bitcoin in Japan, bitcoin's price soared up very high and the evidence would be the 10 new companies that applied to become a Bitcoin exchanger. The recognition of Japan to Bitcoin and accepts it as a mode of payment triggered many people to engage in bitcoin, thus, making the demand go high rapidly.
The word soared up very high is a little too much, its kind of exaggerated .  Japan accepting bitcoin is just the beginning or stepping stone like what they say .  Japan is still experimenting bitcoin so we shouldn't be complacent aboit it yet  . Either way this new is undeniably a great news which proves bitcoins improvement .  If it continues we can expect some other countries to notice bitcoin and maybe also accepts it and of course a higher price . Let's just hope that nothing will break this momentum for now .

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May 08, 2017, 06:13:07 PM
 #63

Japan has taken a wise step to legalized bitcoin into their monetary system.
I would like to read how bitcoin being accepted and developing in this country, and it seems more merchants and companies cooperate to accept bitcoin transaction. "over 10 Japanese companies are reportedly launching bitcoin exchanges to capitalize on the growing demand for the cryptocurrency." https://www.cryptocoinsnews.com/10-new-bitcoin-exchanges-set-launch-japan/amp/
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May 08, 2017, 06:57:53 PM
 #64

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
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May 08, 2017, 07:10:36 PM
 #65

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
It's all very intense because of the fact that Bitcoin became popular in Japan and how they began to actively operate in the field of cryptography. In fact, it was necessary to wonder why until now this did not happen and not be upset today because of what is happening in the market of crypto currency.
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May 08, 2017, 07:13:57 PM
 #66

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.

Yeah and they just simply adopted bitcoin with their technology. News made it happen on their part. People out there are now seeing the benefits of it so why not take the chances.
Time for modern technology ciuntries to take that big leap. If this continues our countries will be late and that means a more expensive coin where every satoshi will matter.

 
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May 08, 2017, 07:18:22 PM
 #67

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
It's all very intense because of the fact that Bitcoin became popular in Japan and how they began to actively operate in the field of cryptography. In fact, it was necessary to wonder why until now this did not happen and not be upset today because of what is happening in the market of crypto currency.

Now with government regulations citizens from Japan are feeling more opened for crypto currencies, and Japan is also one of the leading countries for technology that makes crypto world more natural for them. This is only a beginning for crypto in Japan, they will push that on another level you will see, like they did with everything else. I wouldn`t be surprised if we see some official coin of Japan in some near future, they have money, technology and enough man power to make that happen.

 
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May 09, 2017, 08:30:08 AM
 #68

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)

But why? In my opinion it doesn't matter how much 1 bitcoin costs. What does matter is that people take their money out of a closet and start buying it. That's what's good for the economy.

I'm a biology student, not an economist, so please explain if I get something wrong.

You get everything right, in general

What you don't get is that to make this policy of "people taking their money out of a closet and buying Bitcoin with it" even remotely successful, literally millions of people will have to buy bitcoins, and that would produce an exponential demand with Bitcoin prices hitting astronomical figures. In other words, there are not so many bitcoins as there should be people wanting to buy them if the Japanese government were really going to implement something along these lines and hoped to achieve a noticeable result at that

Thanks for the explanation. Indeed you've noticed what I can't understand so far. Even now I think that a limited number of bitcoins can't be a problem because that only would lead to the increasing of bitcoin price. Why is it bad for the economy if the price of one satoshi was $1? But I have a feeling that I can't get it because I'm not aware of some mysteries of the economy

Even self-proclaimed gurus of economics here can't grasp that

But the answer is pretty simple though. If we assume that fiat dies and Bitcoin takes over, the constant appreciation would be devastating to the economy. I've even created a thread where I explained everything in pesky details, and no guru or otherwise ventured to challenge that explanation. In short, the reason is that the profit margins of producers (if we calculate them in bitcoins) change non-linearly in respect to change in Bitcoin appreciation rates. In other words, they would decline faster than Bitcoin might appreciate. To add injury to insult, they may and will in fact turn negative at some level of appreciation, i.e. profits will become losses (when the proceeds stop covering expenses), and thus the producers will have to shut down their businesses altogether and fire their stuff. How can that be good? On the other hand, if Bitcoin continues to remain outside the economy, then its price will be mostly irrelevant

I've read it three times, but it's really hard to grasp. What I understood is that if fiat dies it would be bad for all of us and that in that case we wouldn't be able to enjoy even an enormous price of bitcoin whatever high it was.

What's the purpose of money appreciation if you are unemployed?

Indeed, it will never come to that (I mean Bitcoin taking over fiat), but if we imagined that, than constant appreciation would make production a losing deal because producers would be better off overall if they fired their stuff and kept their bitcoins rather than invested them into their production. In other words, they would get more profits via mere Bitcoin appreciation, and without doing anything at that. Right now idly sitting on money is a losing game since inflation is constantly eating away its value

Thanks for taking time to elaborate and clarify. Now, first time in my life, I understand it. Inflation stimulates production and, hence, employment. The situation when money is constantly rising in value encourages people to do nothing and that's definitely a bad thing for the economy.
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May 09, 2017, 09:00:46 AM
 #69

Inflation is really a mechanism for the growth of exports. The higher the inflation, the cheaper the cost of production in the country. This of course happens at the expense of people, but it is a fact. Remember what was established by the Chinese economic miracle? The governments of many countries have used the mechanism of inflation to fight with the competitors on the world market.
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May 09, 2017, 09:45:04 AM
 #70

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
yes apparently bitcoin users in Japan has increase because over than $1 billion bitcoin transactions in Japan from last month it is prove that Japanese people has very concern to bitcoin and currently there are 13 exchanges available in Japan and i have to says that Growth of bitcoin in that country More rapidly rather than in my country

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May 09, 2017, 11:23:34 AM
 #71

It is great see how a country support bitcoin, after the government legalized bitcoin there are so many shop and people start to used bitcoin, and so many exchanger has opened, this will create a positive things for japan's economics, I think we will see more great things about bitcoin from Japan and I predicted there will be a lot of exchanger opened in Japan, it will be more than 30
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May 09, 2017, 02:06:52 PM
 #72

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
yes apparently bitcoin users in Japan has increase because over than $1 billion bitcoin transactions in Japan from last month it is prove that Japanese people has very concern to bitcoin and currently there are 13 exchanges available in Japan and i have to says that Growth of bitcoin in that country More rapidly rather than in my country


If you notice the rapid increase on the  price of bitcoin then you can attribute it to Japans adoption of bitcoin. The increasing demand and support of the Japanese people have been the cause of the shift of bitcoins price from 1200$ to 1500$ per coin. It is indeed a small step for Japan and a big leap for bitcoin industry. With the rapid increase in value it is not only Japan that have a huge demand on bitcoin but other countries also since they do not want to be left behind and they wanted also to hold bitcoin and get huge profit later.
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May 09, 2017, 02:09:57 PM
 #73

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
yes apparently bitcoin users in Japan has increase because over than $1 billion bitcoin transactions in Japan from last month it is prove that Japanese people has very concern to bitcoin and currently there are 13 exchanges available in Japan and i have to says that Growth of bitcoin in that country More rapidly rather than in my country


can you provide more information about the things you say please.
for example how do you know there have been 1 billion bitcoin transactions in Japan, are you talking about trading volume or transaction count? there two are very different.

also i know of bitFlyer, BTCBox and i think Zaif was also in Japan, where did you bring the 13 exchanges from and would you please list them?

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May 09, 2017, 02:56:50 PM
 #74

What's the purpose of money appreciation if you are unemployed?

Indeed, it will never come to that (I mean Bitcoin taking over fiat), but if we imagined that, then constant appreciation would make production a losing deal because producers would be better off overall if they fired their stuff and kept their bitcoins rather than invested them into their production. In other words, they would get more profits via mere Bitcoin appreciation, and without doing anything at that. Right now idly sitting on money is a losing game since inflation is constantly eating away its value

Thanks for taking time to elaborate and clarify. Now, first time in my life, I understand it. Inflation stimulates production and, hence, employment. The situation when money is constantly rising in value encourages people to do nothing and that's definitely a bad thing for the economy.

Yeah, I should have explained it that way right at the start

Producers are in fact interested in a small, predictable inflation since they pay wages with already depreciated monies. Basically, that's called an inflation tax, people who get paid last (such as hired workers, pensioners, welfare recipients and their likes) suffer most from inflation. For the rest of the pack, it is a winning game. Those who get newly printed money first have an advantage since they can buy everything at old, low prices

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May 09, 2017, 08:23:09 PM
 #75

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
yes apparently bitcoin users in Japan has increase because over than $1 billion bitcoin transactions in Japan from last month it is prove that Japanese people has very concern to bitcoin and currently there are 13 exchanges available in Japan and i have to says that Growth of bitcoin in that country More rapidly rather than in my country



Another interesting possibility is that Japan could grab the technological lead in Bitcoin, or at least parts of the overall technology.

There are numerous examples of how Japan leads the world in some technologies, one important one that I have seen "in action" is robotics.  The USA is almost completely absent from leadership in robotics, the leading robot makers are Japanese and Swedish (some German & Swiss).  China is rumored to investing heavily in robotics too.

My point is that Japan could very well capture the heart of many important parts of BTC technology should they wish.
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May 10, 2017, 03:09:31 AM
 #76

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
yes apparently bitcoin users in Japan has increase because over than $1 billion bitcoin transactions in Japan from last month it is prove that Japanese people has very concern to bitcoin and currently there are 13 exchanges available in Japan and i have to says that Growth of bitcoin in that country More rapidly rather than in my country



Another interesting possibility is that Japan could grab the technological lead in Bitcoin, or at least parts of the overall technology.

There are numerous examples of how Japan leads the world in some technologies, one important one that I have seen "in action" is robotics.  The USA is almost completely absent from leadership in robotics, the leading robot makers are Japanese and Swedish (some German & Swiss).  China is rumored to investing heavily in robotics too.

My point is that Japan could very well capture the heart of many important parts of BTC technology should they wish.

Early adopting countries of bitcoin will definitely have a head start in technology. Japan recently approving of bitcoin could set off an economic arms race for crytocurrency technologies and quickly force other competing economies to adopt bitcoin in fear of falling behind.
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May 10, 2017, 03:48:06 AM
 #77

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?

In my country itself is having about 5 exchage , where bitcoin is not legalised by the government ( and also not declared as illegal , government says clearly that use it at own risk , we will not established for any type of money loss in bitcoin and other cryptocurrency ) .But here in the JAPAN , the government of the Japan declared bitcoin as the legal way of payment and legal way of the earnings , but put SE rules to use bitcoin and also put some tax system .
So probably it may be possible that 100s of small and big exchanges enter in the bitcoin business , in this year .

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May 11, 2017, 08:35:48 AM
 #78

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 could be contributing to the recent rise in bitcoin price. There are probably several factors, but it has to play a role.

That is correct. Due to the high demand of bitcoin in Japan, bitcoin's price soared up very high and the evidence would be the 10 new companies that applied to become a Bitcoin exchanger. The recognition of Japan to Bitcoin and accepts it as a mode of payment triggered many people to engage in bitcoin, thus, making the demand go high rapidly.
Japan’s acceptance to the BTC is a great turning point in the progress of the prices of the bitcoin. Before it was the recognized by the Japan government the prices were high too but after that the Bitcoin prices got a boost and are getting higher every day. Also the companies that applied will create a great scope in the market of Japan for the BTC.
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May 11, 2017, 09:44:40 AM
 #79

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
yes apparently bitcoin users in Japan has increase because over than $1 billion bitcoin transactions in Japan from last month it is prove that Japanese people has very concern to bitcoin and currently there are 13 exchanges available in Japan and i have to says that Growth of bitcoin in that country More rapidly rather than in my country



Another interesting possibility is that Japan could grab the technological lead in Bitcoin, or at least parts of the overall technology.

There are numerous examples of how Japan leads the world in some technologies, one important one that I have seen "in action" is robotics.  The USA is almost completely absent from leadership in robotics, the leading robot makers are Japanese and Swedish (some German & Swiss).  China is rumored to investing heavily in robotics too.

My point is that Japan could very well capture the heart of many important parts of BTC technology should they wish.

Early adopting countries of bitcoin will definitely have a head start in technology. Japan recently approving of bitcoin could set off an economic arms race for crytocurrency technologies and quickly force other competing economies to adopt bitcoin in fear of falling behind.


Exactly, Other nation will be left out on this technological revolution lead by Japan in they choose not to accept bitcoin. With regards to the exchanges in Japan increasing, it only make sense because they have accepted bitcoin as legal tender. So we will see big, medium and small scale exchanges popping around up to the end of the year in Japan.

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May 11, 2017, 12:51:39 PM
Last edit: May 11, 2017, 07:35:14 PM by deisik
 #80

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.
yes apparently bitcoin users in Japan has increase because over than $1 billion bitcoin transactions in Japan from last month it is prove that Japanese people has very concern to bitcoin and currently there are 13 exchanges available in Japan and i have to says that Growth of bitcoin in that country More rapidly rather than in my country



Another interesting possibility is that Japan could grab the technological lead in Bitcoin, or at least parts of the overall technology.

There are numerous examples of how Japan leads the world in some technologies, one important one that I have seen "in action" is robotics.  The USA is almost completely absent from leadership in robotics, the leading robot makers are Japanese and Swedish (some German & Swiss).  China is rumored to investing heavily in robotics too.

My point is that Japan could very well capture the heart of many important parts of BTC technology should they wish.

Early adopting countries of bitcoin will definitely have a head start in technology. Japan recently approving of bitcoin could set off an economic arms race for crytocurrency technologies and quickly force other competing economies to adopt bitcoin in fear of falling behind.


Exactly, Other nation will be left out on this technological revolution lead by Japan in they choose not to accept bitcoin. With regards to the exchanges in Japan increasing, it only make sense because they have accepted bitcoin as legal tender. So we will see big, medium and small scale exchanges popping around up to the end of the year in Japan

But did the Japanese government actually legalize Bitcoin as legal tender?

I hope you understand what legal tender means. So did the Japanese government in fact declare they they are going to accept Bitcoin as a means of payment for taxes and public debts as well as other such duties, fees and penalties? Somehow I thought they just agreed to legalize Bitcoin in the same way as other fiat currencies are legal in Japan. If I'm wrong about that, how are you technically going to pay taxes with Bitcoin there? Do they provide the addresses of government wallets to which you can send coins as payment for taxes? And what about exchange rates given Bitcoin insane volatility, as well as the authenticity of tax payers?

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