Topic: Asia can be the biggest crypto market - page 8. (Read 2269 times)

Asian cryptocurrency or even the worldeide cryptocurrency market in dominated by china.
Many rich people in china invested their assets into crypto currency and their country is very populated, and as we know chinese people are really close with each other. I think markets price will have a movement when they are doing mass sell or mass buy to crypto currency

True, the regulation can be changed, but if there was at least something, businesses and institutions would know that the government is serious about regulating crypto. As it is right now, there is no certainty, and they won't invest in something that can be banned 2 days later. Regulatory uncertainty is not the only reason, but it is one of the bigger ones, no doubt about it.

Reputation is still one of the problems that cryptocurrency is facing, because there have been quite a good number if projects with good products amidst the scam projects, yet there are still some setbacks.
Let crypto be accepted worldwide and let regulation that favour s it come it, you will see the great change. Although, many of these good projects these days, want to have presence in Asia.

The Philippines is also crypto friendly as you can see from the many new exchanges here based in the Philippines and all of these are approved by BSP (Central Bank of the Philippines). Bitcoin is also legal in this country and is also applicable to other transactions such as online store purchases and so on. So it is not surprising that the number of people discovering bitcoin has increased and it is increasing day by day!

It’s quite true, for how many years I have been studying Asian cryptocurrency markets and I understand that it is in Asia that the largest number of investors who invest in cryptocurrency and most importantly that a lot of Asian countries want to work and cooperate with cryptocurrencies and cryptocurrency technologies, so I often invest in cryptocurrency companies located in Asia and where the team itself is also mainly from Asia.

No real use? are you blind there are lots of ways now to use crypto people are just saving their cryptos because they believe that it will increase the price when the huge adoption comes.

Of course the regulations are the main reason preventing adoption, what else could it be? How is a possibility of changing regulations somehow raising adoption when they can't have them or use them
in the mean time? Or did i misunderstood something. They have most potential markets for sure, because of the population, but the local governance is pretty harsh with it penalties.

In India it was planned that even promotion of cryptos was going to be illegal, not sure if that did pass yet, but i think that you have to be pretty optimistic to come back to full adoption from that.

I certainly agree with you. With Asia's huge population, it could really be the biggest crypto market. Honestly, most investors are from Asia. Countries like the Philippines, Indonesia and Japan are open for crypto adoption and acceptance. Most merchants from these countries are also starting to accept crypto. In our country, lots of us are into crypto adoption not just for investment but also as a mode of payment and a second currency.

yes you are right Asia can be a big market for cryptocurrency because its population reaches 4.6 billion. and in my opinion cryptocurrency only takes time to get to mass adoption. I see the development of crypto in Asia is very positive. in my country Indonesia cryptocurrency has been established as a commodity subject that can be traded on the futures exchange. and in other countries such as Singapore, the Philippines, Japan and Korea crypto have also begun to be accepted as digital assets and in some of these countries there are legalizing bitcoin as a means of payment.

Asia isn't that strict when it comes to regulations unlike in the US, as you can see there's an ongoing hearing for the Libra project. That's why we can say that it's one of the biggest market ever. But once all the other continents started to tune in to this market, they will dominate it. So far, what we can see right now are those countries that are open to crypto and the other nearby continents are still in the phase of learning the pros and cons of it if ever they will regulate it.

Just like a lot of countries in Asia, cryptocurrencies are not accepted as a legal tender because they are not under monetary laws as currencies. Well, how could they create a law on cryptocurrencies as a currency with all the confusions about regulation regarding circulation, volatility, blockchain, and other technicalities of it? Countries are still getting the hang of cryptocurrency as a currency and not just as an investment, asset, or security. 

As an Indonesian citizen, I can already see that currently the development specifically in my country is quite strategic because many people have started to know about cryptocurrency investments. plus the State has given a stance regarding cryptocurrency that is not prohibited in my country. but as an investment it is not a tool for payment

Right, in Japan it is fully legal about crypto. And in Indonesia, you only can use it as commodities or maybe investment. By the way rules sometime have bad effect too because people in Indonesia will take the risk by themself and no regulation means they're not protected (IMO).

You did not get the point I was talking about, what I mean is in Indonesia you can freely trade it and owning cryptocurrency. But there is a law prohibiting people to use it as a form of payment because it has not been regulated yet by the local government. Unlike Australia and Japan, you can trade it freely there and treat it as a form of currency.
adopting cryptocurrency as a form of currency in those 2 countries is possible but in Indonesia you will not be able to.

No doubt that lots of funds from crypto circulate from Asia that includes China. Only few from Western Country since projects have tight security when it comes to term. If all countries can cash in more investment I think marketcap can blow out so big again. Its good some country are now embracing crypto, and expected to influence other countries. Malta is one of the country that reshaping the regulation for crypto. Yes, it's small country but I do hope some other country follows.

The government's stand on cryptocurrency has had been playing that big role in the growth of this industry in this side of the map. Take for example how the cryptocurrency industry got almost into a halt when China decided for the ban, although Bitcoin can still be owned and traded P2P in China they are not doing it on the open anymore for fearing of government reprisal. There is nothing to change in the regulation when the government regulating is adamant on its strong position not to recognized and regulate the said thing.

I agree with the assessment that there is that big potential in Asia to contribute a lot towards the growth of cryptocurrency particularly Bitcoin. Even without China recognizing Bitcoin, Asia remains a big powerhouse in this industry and it can be safe to assume that visible growth can be seen in the statistics. Just imagine had China and India openly embracing Bitcoin albeit in a strict and hugely regulated environment, there could have been an explosion here not seen anywhere.

Scams and frauds which utilize cryptocurrencies are also playing a big role why many people seem to be detached and afraid to join the cryptocurrency bandwagon. Certainly, when you are burned even just once it can take a lot of time for you to change your impression and mindset. Losing money in many scams around, people got convoluted view on cryptocurrency.

I am sure there are many reasons why up to now adoption of cryptocurrency in Asia is not that very rosy but as I said the potential is really there so we might be requiring some time for this to happen. Japan and South Korea are both countries qualified to be poster kid for this industry. Anyway, the industry is still young and there is no need to fast track things when it is not possible to do so.

Yea, they are be the biggest market for crypto. But it is not necessary because of their population, it is as a result of their development. They are now more technologically driven. In as much as Africa is having troubles with internet access, I still think it can still be one of the biggest markets. And crypto’s real use will come when block chain technology becomes a bid deal in the tech space.

True, in Indonesia there is no prohibition on cryptocurrency even now many products adopt blockchain, the government does not give any rules so I think this is very friendly in Indonesia. Singapore, South Korea and Japan are developed countries so it can be called friendly.

If something is banned, it gets more attractive

China is planning to have their own stablecurrency like, but still considers as cryptocurrency. For now many investors are still came from China and  in terms of mining they are present too. The trading and regulations are not still smooth for them, but based in topic Singapore, Japan ,Korea and many asian countries are open for adoption of crypto except China in terms of being decentralized. Soon as the technology improves many business will accept that crypto is a next big thing in Asia.