What are your thoughts on Japan?

[TaunSew]

Japan's economic development, along with Korea and Germany, was arguably a bubble to begin with.   A lot of it was economic appeasement during the cold war to maintain US influence in Europe and East Asia, and to prevent the spread of Communism and revanchism among the defeated countries.

Look at automobiles for instance - why were Japanese and South Korean automobiles allowed to flood the US market after the 1960s?  In contrast, when does one ever see an American automobile in Korea or Japan unless it's a collectible vehicle or a Harvey Motorcycle enthusiast?

Empires are often costly affairs - not only are fortunes spent on military but then there's all the "bribes" (economic and trade) to maintain the world order.   The British Empire often bribed native leaders in Africa and India - the US empire today continues this policy but now it's called foreign aid, which is taking money from poor people in rich countries and giving this money to rich people in poor countries (Mubarak was a very wealthy man).

[Nerazzura]

The suggested guideline in the Japanese government are these,

1. Bitcoin is considered as material, NOT as currency (so it is like precious metal like Gold, Platinum.,,.)
2. Banks are prohibited to exchange bitcoin and currency. Making dedicated account is also prohibited.
3. Security brokers are prohibited to deal with bitcoin transaction
4. Capital gain tax and cunsumer tax (VAT) are imposed
5. Consider additional regulation in derivative trades

Even though it is a progress to make clear guideline as a law, practically they are not restricting our activities. I welcome their decision and wish they alter it with more restriction.

Apart from tax which is not relevant to non-Japanese residents like us, and Japanese bitcoin exchange who wants to have dedicated account in Japanese bank for their clients, nothing is changing from the current situation I wonder. Nobody exchange bitcoin using Japanese banks or Japanese security brokers. I don't know they really understand there is virtually no bitcoin exchange except mtGox. I don't know they understand what exchange is and the role of banks. At least by this there is no reason for banks to deny transfer money from / to bitcoin exchange. They say this guideline is the first in developed countries, I doubt it is and effective at all.

ohh, that's why only few people from japan using bitcoin
and in this forum too, i never met japanese user
i think their gov restricted is too strong for bitcoin

[alani123]

Holly necroposting cow. How did you found this post after all those months?

[Cluster2k]

As soon as the Japanese are forced to source debt funding from overseas the country, in its current form, is finished.  240% debt to GDP ratio financed at around 0.7%.  25% of all taxes collected today go to servicing old debt.  What happens when Japan is forced to pay a princely sum like 1.5%?

Fukushima Daiichi will continue to eat billions of dollars for years to come.  Savings rate is currently 3% and dropping.  Rapidly shrinking working age population yet no significant immigration.  Aging population that will come for their savings and realise there is nothing there.  South Korea and China have eaten Japan's electronics and automotive manufacturing advantage.

I like Japan.  Been there a few times and enjoy aspects of the culture.  Shame it will suffer severe crises in the decades to come.

[alani123]

I'll just go ahead and lock this thread. It's old and irrelevant now. I wonder why people keep replying.