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Author Topic: Japan's first mining pool?  (Read 1458 times)
julz
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October 25, 2011, 11:06:30 AM
 #1

Despite the japanese name of the bitcoin founder.. uptake in Japan so far seems pretty weak.

This site appears to have only just sprung up and claims to be "Japan's first mining pool"
https://www.bitcoin.ne.jp/


They also have a japanese dub of the famous bitcoin video:
http://www.youtube.com/user/bitcoinnejp#p/a/u/1/cXZOe3X6iYQ

'About bloody time' was my first thought.  How can such a high tech nation, with such an apparent love for the quirky, as well as being producers of sci-fi/anime/games  - be so slow to pick up on a concept as cool and revolutionary as bitcoin?

 
That the site is in English suggests it's still a case of bitcoin being 'introduced' to japan as opposed to interest catching on naturally.
Can any Japanese speakers comment on the general interest regarding bitcoin in Japan?

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julz
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October 25, 2011, 11:13:42 AM
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One possible reason for slow Japanese uptake that occurs to me, is that the 2011 tsunami/nuclear disaster has resulted in rolling power cuts and a general movement amongst people to do their bit to save power.  In that environment - it's hardly surprising 'mining' wouldn't be a popular idea.
Still - I'd have thought there would be some serious enthusiasm there for the digital currency concept.

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October 25, 2011, 11:28:28 AM
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No one really knows the identity of the Bitcoin founder, he may or may not be a Japanese.
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October 25, 2011, 11:31:35 AM
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No one really knows the identity of the Bitcoin founder, he may or may not be a Japanese.
Sure.. that's why I said Japanese 'name'.  'He' may also not be a he for all I know.

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October 25, 2011, 01:32:22 PM
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He is a he.

The Artificial Inteligence known publicly as 'Satoshi Nakamoto' self identifies with the male gender.

I know this because he/it told me.
MemoryDealers
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October 25, 2011, 03:07:39 PM
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As as American who has lived in Japan for about 6 years and speaks Japanese fluently,  I can tell you that Japnese are VERY conservative when it comes to money.  I organized a Bitcoin meetup group in Tokyo recently.
http://www.meetup.com/Tokyo-Bitcoin-Meetup-Group/
Only foreigners showed up.

Most Japanese still have a recent Japanese digital currency fresh in their minds.
It failed,  and investors lost billions of dollars.

http://en.wikipedia.org/wiki/Enten_controversy

I suspect Bitcoin adoption may be slow in Japan,  but I am doing everything I can to speed things up.

I launched www.bitcoin.co.jp a few months ago.

The few, technical Japanese I have spoken with in person about bitcoins seem to get it,  but it will take time.

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October 25, 2011, 03:10:38 PM
 #7

Thanks for the insight.  Interesting social differences and a massive digital currency failure is just really bad luck.

Also IIRC computer gaming isn't exactly that popular in Japan thus there are fewer high end GPU.  Mining on a PS3 produced less coins than it uses in electricity and that is in the US.  With Japan high electrical prices I would imagine mining as a portal to bitcoin is a dead end.
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October 27, 2011, 05:36:51 AM
 #8

The Japanese society is both modern and traditional.   They may have the latest technology but society values are still very conservative.  That may be the reason that there aren't many  world pioneers that are Japanese when it comes to new technology via the Internet.

As as American who has lived in Japan for about 6 years and speaks Japanese fluently,  I can tell you that Japnese are VERY conservative when it comes to money.  I organized a Bitcoin meetup group in Tokyo recently.
http://www.meetup.com/Tokyo-Bitcoin-Meetup-Group/
Only foreigners showed up.

Most Japanese still have a recent Japanese digital currency fresh in their minds.
It failed,  and investors lost billions of dollars.

http://en.wikipedia.org/wiki/Enten_controversy

I suspect Bitcoin adoption may be slow in Japan,  but I am doing everything I can to speed things up.

I launched www.bitcoin.co.jp a few months ago.

The few, technical Japanese I have spoken with in person about bitcoins seem to get it,  but it will take time.
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October 27, 2011, 05:58:37 AM
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1.just look at the house price and stock price of the Japan. Japanese are tired of speculation.

2.Japanese people are not very worried about the inflation.
Inflation rate (CPI) in Japan is very low in the last decade. look at the flat curve after the 2000. http://www.wolframalpha.com/input/?i=CPI+Japan

Indeed, there is deflation in Japan.




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worldinacoin
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October 27, 2011, 06:02:46 AM
 #10

It is not that the Japanese are tired of speculation, just that for the last ten years, they are grappling with liquidity traps and deflation threats which certainly slow down their appetite towards risk.
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October 27, 2011, 06:16:47 AM
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It is not that the Japanese are tired of speculation, just that for the last ten years, they are grappling with liquidity traps and deflation threats which certainly slow down their appetite towards risk.

Yep, we are agreeing with each other.

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October 27, 2011, 06:33:31 AM
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It is not that the Japanese are tired of speculation, just that for the last ten years, they are grappling with liquidity traps and deflation threats which certainly slow down their appetite towards risk.

And they have other things to worry about in Japan:

http://enenews.com/daiichi-elementary-4-million-bqm%C2%B2-of-cesium-in-soil-sample-from-school-in-chiba-10-1-%C2%B5svhr-at-another-elementary-school-nearby

I've heard that the total value of the property in Tokyo exceeded the total value of private land in the entire US at it's peak (but that seems outrageous to me and I have trouble swallowing it.)  It would be quite something if it went from that level to an abandoned ghost city, or one which only old people could live in.


worldinacoin
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October 27, 2011, 06:56:53 AM
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At the peak of the housing bubble in Japan, space of one toilet is more expensive than a mansion in the USA.
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October 27, 2011, 12:49:05 PM
 #14

Who cares about young little Bitcoin when you are in a nuclear disaster .

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