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Author Topic: Japan and the United States equaled the volume of bitcoin trades  (Read 806 times)
deisik
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May 08, 2017, 02:36:08 PM
 #21

That is what government is all about. Japanese government accepted bitcoin is stimulates they economic, now Japan has become the hub of bitcoin and others crypto currencies today because the government create an enabling environment for it. Third world countries should emulates the same thing by adopting bitcoin as a mode of payment and they Economic will turn dramatically.

They just accepted bitcoin as a currency, nothing more.
Stimulating the economy? How? On what level?

In order to really stimulate the economy bitcoin would have to do something better for the economy than other currencies legal in Japan at this moment

Well, other currencies are mostly depreciating

While Bitcoin seems to be heavily appreciating as of late. Maybe, that's the difference you are looking for. Further, it is assumed that Bitcoin is beyond government control, so that could be another quality that distinguishes Bitcoin from "other currencies legal in Japan" presently. In this regard, it is more like gold, and local population may be interested in that. Anyway, you still should somehow explain why the Japanese government made Bitcoin legal. What is your take on this?

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Dimelord
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May 08, 2017, 02:48:59 PM
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Statistics shows that the trading volume in dollars and yen higher than ever, but some believe that these figures should be taken in excess. For example, when China dominated the bitcoin market, this is due to the fact that the trading platform is allowed to trade without fees, which dramatically increased the volume of sales in RMB. Because Chinese exchanges added to the Commission, the trade volume of BTC / CNY in China fell. One of the advantages of a Japanese bitcoin trading is the fact that Japanese stocks do not charge commissions for transactions. It's a little alarming skeptics, since statistics JPY / BTC can be inflated for this reason.

Don't compare Chinese and Japanese market in terms of volume. Japan now is dominating the trading volumes as much 50%. Followed by USA. No fake volumes going on. Bitcoin ecosystem has been flourishing with a lot of money now specially coming from the Japan. We have to remember that Japan has a lot of money and it makes sense to them to just put in it bitcoin ecosystem since it is already a legal tender to them.
Definitely there is no fake volume generated in japan as china.They are already pioneers in bitcoin adoption,but lost interest in bitcoins due to Mt.gox failure.But now they have returned to bitcoin adoption by accepting bitcoin as legal payment.Trade volume would increase more in future.
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June 12, 2017, 04:49:03 AM
 #23

stompix, i live in a third world country so i agree 100% with your idea. but i´d like to add some concept that i posted in other topic: in my opinion, the reason that japanese government accepted bitcoin like a legal currency is that they want to accept the nem as legal currency,too. but because bitcoin is older they had to accept it in first place. in last months two japanese exchangers bit flyer and zaif added this coin in your platforms, both owners are members of the team that have created this coin and a big japanese bank has adopted your blockchain to register all the transactions done for your clients (2.5 million transactions per day reducing your fees 90 %). i believe that in one or two years all japanese banks will work with the nem blockchain. consequence of this the nem price has increased 3000% in last three months. i´ve read your blockchain is really better than bitcoin blockchain, they need 8 confirmations but the time to do it has been reduced to a few seconds. besides, the mining process doesn´t exist in the nem ecosystem they talk about halving were the users can receive rewards too but to receive your rewards you have to buy a certain amount of nems. it doesn´t depend of the power of your devices and you haven´t to participate in a mining pool like bitcoin. so i´m thinking that nem could replace bitcoin as the main cryptocurrency at least in japan.
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