Coincheck of Japan Rolls Out Bitcoin (BTC) Payment for Gas

[dothebeats]

Knowing how most of the Japanese are frugal when it comes to money, I'm sure tons of people would be taking advantage of this offer. Even though it adds another layer of service the Japs have to use, they'd still do it in a heartbeat. It would be better if more and more services would be covered by Coincheck in Japan in order to get the Japanese widen their perspective on bitcoin. They deem it mostly as a trading tool but not really something that can be used in real life, and perhaps this is a start of that change in POV.

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[Beparanf]

It may only be the start of coincheck to accept more products to be paid in by bitcoin.It will sure to widen the adoption of bitcoin especially that it can easily be a way for them to purchase something useful and at the same time they have investment on them if they wanted to hold it. Japan is too good in advance technology and in adopting it, once they do adoption some countries might also follow them so buying goods will be easy with crypto now.

[clickerz]

Knowing how most of the Japanese are frugal when it comes to money, I'm sure tons of people would be taking advantage of this offer. Even though it adds another layer of service the Japs have to use, they'd still do it in a heartbeat. It would be better if more and more services would be covered by Coincheck in Japan in order to get the Japanese widen their perspective on bitcoin. They deem it mostly as a trading tool but not really something that can be used in real life, and perhaps this is a start of that change in POV.

I am  happy that more and more company are opening up in accepting cryptocurrencies  especially bitcoin. It will not take  long terms for bitcoin to become mainstream, if every other day we read this kind of implementation.Adaption is real indeed, hope more integration is to be done for convenience and ease of transaction.

[Kakmakr]

This is great news!

I have always said that people should find ways to incentivize the public to rather opt for paying for services and goods with Bitcoin. The only incentive I could think of that would give people a reason to switch to Crypto currencies, would be if they could get something back from doing that.

A discount or refund for paying with Bitcoin is a huge incentive for people to rather pay with Bitcoin and this should be standard practice on most online platforms. <So if people pay with other payment options, they should pay more for the service or goods.>   

[alyssa85]

Knowing how most of the Japanese are frugal when it comes to money, I'm sure tons of people would be taking advantage of this offer. Even though it adds another layer of service the Japs have to use, they'd still do it in a heartbeat. It would be better if more and more services would be covered by Coincheck in Japan in order to get the Japanese widen their perspective on bitcoin. They deem it mostly as a trading tool but not really something that can be used in real life, and perhaps this is a start of that change in POV.

This is the big hope. Adoption happens when people are incentivised to use bitcoin/crypto.

If you look back to the adoption of the internet - it really started to take off in terms of online retailing when the public became aware that things were cheaper if you bought online.

[1Referee]

It will not take  long terms for bitcoin to become mainstream, if every other day we read this kind of implementation.Adaption is real indeed, hope more integration is to be done for convenience and ease of transaction.

It's a big dream, and I am fully supporting more merchant adoption, but people here seem to be overly bullish on everything they read. I'm strongly of believe that despite all the cheering for adoption, Bitcoin isn't being utilized much to pay for the goods offered by merchants. It will require additional discounts to tempt people to use their coins, which is something Coincheck seems to understand.

Bitcoin is too precious to be spent similar to how people usually spend their dollars and whatnot. On top of that, the fees merchants save by not processing the payments through Visa/Mastercard (which are usually 2-3% per transaction) should largely be given as discount to those paying with Bitcoin. As long as people are being given discounts, they're open to spend Bitcoin. The incentive has to be there.

[sandra_x]

The article is a bit confusing.... is it only 3% that you save on a monthly basis, or is that on top of the 3% in discount when you pay with Bitcoin? I personally think it's just 3% on a monthly basis.

I'm not sure what other cash back programs are running in Japan as we speak, but if it's unique to Bitcoin, then it might incentivize people to actually pay their gas bills in Bitcoin. If it isn't unique to Bitcoin, then probably not.

Either way, this is great news for Bitcoin nonetheless. I have seen people complain about not being able to pay for their every day spendings in Bitcoin, well, we're getting there slowly but surely.

A 3 per cent discount for making your gas purchase using bitcoin, another 3 per cent as an incentive to use their wallet. It may be small but it does resonate with one of  the core idea of bitcoin, which is using it as an means to pay for goods and services, not just as an investment vehicle or asset.

[Lucius]

So it's no wonder that in a country where you can buy a car for Bitcoin, you can also buy fuel for that same car, and pay in Bitcoin. All this is possible because Bitcoin is a regular means of payment in Japan, which means that everyone is able to provide services and sell goods in a very simple way by using Bitcoin.

Yet as has been pointed out, Bitcoin is generally still considered a store of value then as currency. From a normal human perspective, there is nothing strange about it, if you bought Bitcoin at a price of $10k, there is no logic to spend it when the price is $8k. Moreover, if some experts speak about $100k in the next few years, it further affects the consumption of real coins.

[alyssa85]

So it's no wonder that in a country where you can buy a car for Bitcoin, you can also buy fuel for that same car, and pay in Bitcoin. All this is possible because Bitcoin is a regular means of payment in Japan, which means that everyone is able to provide services and sell goods in a very simple way by using Bitcoin.

Yet as has been pointed out, Bitcoin is generally still considered a store of value then as currency. From a normal human perspective, there is nothing strange about it, if you bought Bitcoin at a price of $10k, there is no logic to spend it when the price is $8k. Moreover, if some experts speak about $100k in the next few years, it further affects the consumption of real coins.

I think this is domestic gas bills (as in gas for home heating) not gas as in petrol for your car.

[Google+]

if gas companies in Japan have started to make payments using cryptocurrency it will be able to give a very good effect because this can be one of the strategies to raise the price of bitcoin because demand will definitely increase when many use cryptocurrency for payments like this.

[ReiMomo]

if gas companies in Japan have started to make payments using cryptocurrency it will be able to give a very good effect because this can be one of the strategies to raise the price of bitcoin because demand will definitely increase when many use cryptocurrency for payments like this.

No doubt that bitcoin will become popular because of that service in Japan, they are mostly adopted in technology all over the world.
And that's a really good idea because it is big for a lot of car owners especially when they gas up it is less hassle for them to be able to pay using bitcoin and also a 3% discount on a monthly basis is really great help as well. However, I do not think if someone spending their bitcoin when the market is bear rather than they are accumulating on it and used cash instead. They will use Bitcoin once the price is quite high.