Why Bitcoin is Big in Japan

[PlusCoinINK]

-Miss Bitcoin
Mai Fujimoto, aka Miss Bitcoin on her social media platforms, figure-heads an attitude that seems to be crowing in the Land of the Rising Sun.

-Why the hype in Japan?
The attitude in places like China and even Korea is one of the people battling against the regulators. There is huge interest in these two nations from the citizens, but regulators have put their foot down.

-A good alternative
Bitcoin also comes at a great time for the investment-savvy Japanese as ultra-low interest rates from the deflation-battling central bank that has left investors scratching their heads for places to find returns on their cash.

Source: https://cointelegraph.com/news/bitcoin-its-big-in-japan

[jseverson]

Japan is known for being technologically advanced, so it's no surprise that the country as a whole embraces new technology. They know that technology must be nurtured, not feared.

People don't say it enough, but Japan's government also plays a huge role, being supportive of crypto in general. There are regulations, yes, but they're not overbearing, and they don't spout FUD like "stricter regulations will come". I'm sure it's easier to get into Bitcoin as a newbie if you don't have fears that the government will make life hell for you in the future.

[watervo1999]

The attitude in places like China and even Korea is one of the people battling against the regulators. There is huge interest in these two nations from the citizens, but regulators have put their foot down.

China’s ban on ICOs, and then exchanges, set a huge precedent in terms of the hard-nosed approach to digital currencies.

Korea also recently started taking steps towards its own style of the ban on digital currencies, however, despite that, there is still massive interest.

Japan also set its own precedent in the understanding of Bitcoin as back in April it was announced that Bitcoin was accepted as legal tender, instantly showing a positive approach from the government.

Japan also benefited greatly from China’s ban as many companies and investors crossed the Sea of Japan to set up shop on the Island.

Adoption
Japan was also the pioneer in terms of Bitcoin adoption as about six months ago there was a boom in businesses trying to integrate Bitcoin payment systems. Even salaries are starting to be paid partly in Bitcoin. A well-known commentator on the crypto-business in Japan Koji Higashi said:

“The involvement of big companies, the sense of security derived from government approval and media exposure really brought in a whole new group of people to the market.”

A good alternative
Bitcoin also comes at a great time for the investment-savvy Japanese as ultra-low interest rates from the deflation-battling central bank that has left investors scratching their heads for places to find returns on their cash.

However, some are suggesting that it is more hype and mania than savvy investing.

Higashi adds:

“Everyone else is doing it now and I heard they are making a lot of money. I have to get on it now. That’s a very Japanese way of thinking. To be honest, I am not sure if people are buying into Bitcoin based on rational decision-making. It feels more of a short-term irrational mania to me.”

[icanscript]

Regulation as the best practice is the secret of Big Bitcoin in Japan
This knowledge-based approach also depends on the importance of a reliable regulatory framework. Mt. The bankruptcy of the Gox prompted the Japanese government to decide on how to treat Bitcoin, and was preceded by a push by local regulators to license exchanges of crypto-currencies.
In this light, Japan has become the first country to regulate the exchange of crypto-currencies at the national level. Part of the government's efforts to use financial technologies as a means of stimulating the economy.
Japan's provisions help prevent misuse of bitcoins and other crypto-conversions for illegal activities and require banks and other companies to verify identity, store reports and report suspicious transactions.

[abhishek_bittu]

Many westerners tend to lump the east Asian economies together, but beneath the surface, there are many differences.

Here are my observations:

The Japanese economy has never really recovered from the collapse of the Japanese real estate market in 1989 - 1990, and the appreciation of the yen, also in that period (which was forced on the Japanese government by the Reagan administration through the Plaza Accord - Wikipedia) in 1985. Japan was hit by two economic punches at the same time: the banks had lots of bad loans on their books because of the collapse of real estate values, and Japanese exports became expensive. Because Japanese exports became expensive, many Japanese manufacturers started to move their factories to China, which fueled the growth of Chinese exports and the Chinese economy starting in the 1990s.
Unlike China, Japanese culture and the Japanese form of government does not allow for the rise of a single strong political leader who can make economic policy decisions. This is why Japanese banks continue to carry bad loans on their books, and this has constrained economic growth for nearly 30 years. The best analysis of this feature of Japanese society and political culture is the book The Enigma of Japanese Power - Wikipedia. This is completely different from China, which is ruled by Xi Jinping and the Central Committee of the Chinese Communist Party, and has Five-Year Plans for the Chinese economy.
On a social structure level, Japanese society does not embrace change well. Since 1990, the lifetime job commitment to one company has eroded, but it has taken time. Japanese women, unlike women in China, very seldom make it into management, and are still expected to quit their jobs when they have a child, and stay home and raise the children while the husband works. The general absence of generally-accepted public roles for well-educated women in Japanese society means that the society does not fully utilize a valuable asset. An important factor in the rapid development of the Chinese economy is the fact that smart, ambitious, hard-working women can lead companies and assume leadership positions in Chinese society if that is what they want to do. It is much harder for Japanese women to do this in Japan, and this explains why some smart ambitious women choose to leave Japan. This is a terrible loss for Japanese society.

[jassanpary]

I think Japan's is pro bitcoin approach could be the reason why bitcoin is big in Japan people in Japan are more interested in the bitcoin because rules and regulations are not so rigid should be very flexible there and also official, that's why it is big in Japan.

[Cobalt9317]

Since the introduction of the bitcoin in Japan by a miner I don't remember the name, it becomes popular because of the convenience it brings to the individual. not only that they also know that bitcoin possess anonymous transaction which fundamentally adapted by Nippon.

[angrygroceries]

Bitcoin really has the oppurtunity when it's at Japan - the country of technology. People are interesting about the new stuffs specially technology. What Bitcoin can give them is too much than they can expect about a technology stuff. It gave them blockchain technology, the new currency - which hard to be fake ...

[yonghaseo]

Traditionally and culturally Japanese  are one of the most optimistic people if we're talking about investments. A country of excellent technology so they're  seeing bitcoin as a great opportunity which they can earn more. No wonder why its it's big in Japan.

[BTCLovingDude]

bitcoin is big everywhere. it is a decentralized currency that people have chosen to use and invest in all around the world. it is even big in those countries that have issues with bitcoin or even banned it. like Venezuela for instance.
it is the power of bitcoin as a decentralized currency that makes it big.

it is bigger in Japan and more noticeable there because of the regulations that bitcoin has in Japan. because they adopted it as a legal way of payment with 0 taxes and that helped with the mass adoption among lots of merchants over there. so you see it more often.

[Alex_nutis]

Today bitcoin in Japan is a currency recognized at the legislative level. Bitcoin holders are protected by law, and its turnover is not regulated today.

[Df9898]

Because BTC owner from japan but another country have big value too because in japan first BTC from

[synapsisxxx]

Hmm these kind of figureheads may be quite important for many countries to alleviate public perception and fear. Almost the whole world is currently fighting crypto fud, be it international or domestic, and we need some strong guys in crypto who can do this. Almost all the big guys I have seen so far just shill or fud or buy stuff, it seems most have no interest in it after getting rich.

[gribble]

I think bitcoin is big in Japan except been explained by OP above base on the source of cointelegraph is the government of Japan had been support for the bitcoin, the government of Japan is friendly to bitcoin and the people of Japan had known about the bitcoin, the benefits of information, technology of bitcoin and any other related with the bitcoin, they can open their think about the new information and technology of internet.

[jtbcoins]

Japan is one of the first countries that accepted cryptocurrency. It is just a great country with people that ready for something new.

[tabas]

-Miss Bitcoin
Mai Fujimoto, aka Miss Bitcoin on her social media platforms, figure-heads an attitude that seems to be crowing in the Land of the Rising Sun.

I've seen her interview on a video and on how she is very popular in Japan to be called as Miss Bitcoin. And you know what? She's cute.  

Because BTC owner from japan but another country have big value too because in japan first BTC from

There's no assurance that Satoshi Nakamoto is a real Japanese, base on this account profile here in forum he's a good English Speaker and SN is like his pseudonym.

[endlasuresh]

Because BTC owner from japan but another country have big value too because in japan first BTC from

I agree on this part and may be the person from Japan only and they want to rule the world. Other countries don't trust Bitcoin or any coins since they are not banks or depends upon on the same rate So bitcoin is popular only in Japan.

[Ajiloveyuyun]

because Japan is a developed country that is not concerned with politics, they just want to shoot the science that exists without the hope of political interference

[Faiyz]

Japan is one of the most technologically advanced countries in the world. Also, the japanese are at the forefront of tech and has been very open to new ideas and things. It is no surprise that they are also one of the first to embrace bitcoin and crypto in general.

[Mer1251]

Because japan is the most high technology of the all even though a 8years old boy can know about bitcoin and bitcoin is now authorize in japan