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Author Topic: which country trade most in btc  (Read 7839 times)
malikusama
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June 07, 2017, 11:28:42 PM
 #41

I think US is on the top till now, having maximum number of bitcoin users. Now Japan is also accepting bitcoins as legal currency this shows the interest of Japanese towards bitcoins. China is also increasing number of users day by day. Not sure who will lead in the future.

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June 08, 2017, 11:05:53 AM
 #42

Well, I stand to be corrected. The country of China has the largest numbers of Bitcoin traders at present when compared to other countries of the world, but Japan is coming up in recent time followed by the United State of America.

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June 08, 2017, 10:49:04 PM
 #43

I think US is on the top till now, having maximum number of bitcoin users. Now Japan is also accepting bitcoins as legal currency this shows the interest of Japanese towards bitcoins. China is also increasing number of users day by day. Not sure who will lead in the future.
i think mo one know the actual number of btcoin users, and it is also not possible to say that what country has the great number of bitcoin users, because it is anonymous. but in general as people says that the number of bitcoin miner are more in China and as per their population it is expected that the number of bitcoin users will be greater in china than any other country. and therefore China will be trading bitcon the most.

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June 09, 2017, 12:44:40 PM
 #44

I think China is the leading country to use Bitcoin, because it very much popular in this country. Many user comes from China, so China would be the number one country..

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June 09, 2017, 04:39:26 PM
 #45

The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. Whilst the majority of countries do not make the usage of bitcoin itself illegal (with the exceptions of: Bangladesh, Bolivia, Ecuador & Kyrgyzstan), its status as money (or a commodity) varies, with differing regulatory implications. While some countries have explicitly allowed its use and trade, others have banned or restricted it.
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
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June 09, 2017, 08:20:09 PM
 #46

I think China is the leading country to use Bitcoin, because it very much popular in this country. Many user comes from China, so China would be the number one country..
I also think that China is very much working in the field of crypto-currency. The fact is that according to statistics, even the maximum number of the miner  is there. Many experts have long said that the main control is behind the Chinese. But recently, Japan is practically breathing in the back of the head to the Chinese in the use and extraction of Bitcoin.
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June 10, 2017, 01:20:29 AM
 #47

Living in China I barely see daily use cases of BTC (aka no shops accepting, online or offline)

Since people have been mentioning that Japan has seem mass adoption, can someone from Japan confirm that? Are we seeing shops and retails using bitcoin as payment options?

Thanks

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Blake_Last
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June 10, 2017, 04:48:18 AM
 #48

Based on CoinDesk Research, China remains the dominant player controlling the highest volume traded in bitcoin. Perhaps this is because China has the most number of exchanges that opened prior to non-Chinese exchange market. BTCC, for example, is the longest-running bitcoin exchange in the world. They have their own pool that mined around 11% of all squares, according to bitcoinmining, and controls around 240 in PH/s metric scale. Besides, they have cheap electricity which is one of the most important elements in mining operation.

Now I suggest you read the following articles as they give a very informative insight as to why China dominates in bitcoin mining:

Change in China (And What It Means For Bitcoin) by Noelle Acheson

China's Market Dominance Poses Questions About Global Bitcoin Trading Flows by Joon Ian Wong

China's Dominance In Bitcoin Mining



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metalbean
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June 10, 2017, 08:37:59 AM
 #49

Based on CoinDesk Research, China remains the dominant player controlling the highest volume traded in bitcoin. Perhaps this is because China has the most number of exchanges that opened prior to non-Chinese exchange market. BTCC, for example, is the longest-running bitcoin exchange in the world. They have their own pool that mined around 11% of all squares, according to bitcoinmining, and controls around 240 in PH/s metric scale. Besides, they have cheap electricity which is one of the most important elements in mining operation.

Now I suggest you read the following articles as they give a very informative insight as to why China dominates in bitcoin mining:

Change in China (And What It Means For Bitcoin) by Noelle Acheson

China's Market Dominance Poses Questions About Global Bitcoin Trading Flows by Joon Ian Wong

China's Dominance In Bitcoin Mining




Have you factored in the changes in Chinese regulation in Jan/Feb this year when the government disallowed illegal "fake" trading whereby insider buy and sell who reduced China's daily trading by a very big proportion. I still believe that China could be the biggest trading country still, but it has dropped significantly since the ban. I am not sure how their government did it but I suspect each trade might actually be taxed (very small amount) so it basically disincentived the exchanges to keep trying to one up each other by performing fake trades.

My 2 cents.

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June 10, 2017, 05:20:49 PM
 #50

Living in China I barely see daily use cases of BTC (aka no shops accepting, online or offline)

Since people have been mentioning that Japan has seem mass adoption, can someone from Japan confirm that? Are we seeing shops and retails using bitcoin as payment options?

Thanks

I'm very surprised at your answer. I was sure that bitcoin in China is developing very quickly and is being accepted in all stores. And in terms of sales China leads. But it turns out that everything is not so.
thanks for the info

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June 11, 2017, 05:10:10 AM
 #51

Living in China I barely see daily use cases of BTC (aka no shops accepting, online or offline)

Since people have been mentioning that Japan has seem mass adoption, can someone from Japan confirm that? Are we seeing shops and retails using bitcoin as payment options?

Thanks

I'm very surprised at your answer. I was sure that bitcoin in China is developing very quickly and is being accepted in all stores. And in terms of sales China leads. But it turns out that everything is not so.
thanks for the info

In the day-to-day stuff, such as paying in restaurants and renting a bike. Things are pretty cashless and everyone uses wechatpay and alipay. I would go so much to say that in certain stores ~50% is paid through apps.

However there is no sight with crypto in daily use case. Trading yes but not daily usage.

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June 11, 2017, 10:30:47 AM
 #52

I am looking for demographics. where btc is used most. We have just started accepting BTC
at our web hosting company that mainly sell VPS, Ded servers and Entrepreneur solution.

I am looking for some stats. please guide.
Once bitcoin trade took place more in US, but now china has overthrown it.Yuan makes up 100% of all bitcoin trading in 2017 which was less than 10% in 2012.So most of bitcoin trading is done in china.

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June 11, 2017, 10:56:29 AM
 #53

No doubt most bitcoins transactions per day or even per month is within china,china has the most number of bitcoins users and bitcoin mines which boost numbers of transactions in their country,philippines and united states i think is one of the most number of transactions in the world






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June 11, 2017, 03:55:10 PM
 #54

No doubt most bitcoins transactions per day or even per month is within china,china has the most number of bitcoins users and bitcoin mines which boost numbers of transactions in their country,philippines and united states i think is one of the most number of transactions in the world
My country is philippines and I think also my country is one of the country have many transaction using bitcoin. Filipinos are very active in bitcoin world I see the group that they have many filipinos active and they post even midnight or they active 24/7 . I hope my country will be the list of top 10 most country have bitcoin user. United states also have many bitcoin transaction.

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June 11, 2017, 05:03:50 PM
 #55

No doubt most bitcoins transactions per day or even per month is within china,china has the most number of bitcoins users and bitcoin mines which boost numbers of transactions in their country,philippines and united states i think is one of the most number of transactions in the world
My country is philippines and I think also my country is one of the country have many transaction using bitcoin. Filipinos are very active in bitcoin world I see the group that they have many filipinos active and they post even midnight or they active 24/7 . I hope my country will be the list of top 10 most country have bitcoin user. United states also have many bitcoin transaction.
Among the Asian nations once after China, Korea and Japan, Philippines has a good market for bitcoin. This is because of the increased acceptance in the country without regulations but not much oppositions from the government keep them more active in bitcoin. Hope by the years to come the competence will be high, because of the increasing legalized usage.

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June 11, 2017, 05:08:35 PM
 #56

I think US is on the top till now, having maximum number of bitcoin users. Now Japan is also accepting bitcoins as legal currency this shows the interest of Japanese towards bitcoins. China is also increasing number of users day by day. Not sure who will lead in the future.
The US does not have a chance to involve in Bitcoin as much as the China is doing. You need to know that there are many Chinese are trading bitcoin in their country and most of the world bitcoin volume is created by the Chinese. Therefore, they have a great impact over the bitcoin price and some major altcoin on the market


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June 11, 2017, 08:06:00 PM
 #57

I guess the bigest trader or the most trader country is korea as all we know bitcoin today is the legal currency that we can use in the korea though it is so expensive there but based on the blog that i read korea has a biggest stock of the bitcoin today and traders also.
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June 11, 2017, 09:21:02 PM
 #58

A lot of countries to consider with highest volume of bitcoin that is being trade. After Japans acceptance, next is Korea and for sure Europe, America and other countries in South East Asia. Also include India into it, I haven't saw a demographics about it but it seem that bitcoin is popular on those that I mentioned.

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June 12, 2017, 03:21:29 AM
 #59

My country is philippines and I think also my country is one of the country have many transaction using bitcoin. Filipinos are very active in bitcoin world I see the group that they have many filipinos active and they post even midnight or they active 24/7 . I hope my country will be the list of top 10 most country have bitcoin user. United states also have many bitcoin transaction.

Indeed, the Philippines is very active in bitcoin trade.

Any idea which exchanges do Pinoy prefer? And is it used actively as a means to remit money back to PH?

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June 12, 2017, 08:58:51 AM
 #60

No doubt most bitcoins transactions per day or even per month is within china,china has the most number of bitcoins users and bitcoin mines which boost numbers of transactions in their country,philippines and united states i think is one of the most number of transactions in the world

that is wrong, now japan is leading one in trade volume china is secodn now, this after the japan adoption as of bitcoin, i can imagines if china were to adopt bitcoin like japan it would be the first one again

but only because they more than other, so it's safe to think that despite the huge number people in china there are few people trading bitcoin now, because japan is much smaller and have a better volume...
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