bitcoins - skyrocketing demands in Asia - page 2.

TheQuin

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Quote from: MissionPhailed on October 10, 2017, 02:30:40 PM

Quote from: arcds9 on October 10, 2017, 12:11:44 PM

bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

The upcoming hardfork on the 25th this month might play a role in this matter. In any case, Bitcoin is about to hit a new ATH. Previous ATH was on september the 2nd with a value of $4975 and market cap of over $82 billion. Currently we're looking at a price around $4900 and a market cap of over $81 billion. I took the mentioned numbers from coinmarketcap.com btw.

This is likely the biggest factor at the moment. The FOMO (fear of missing out) from the potential 'dividend' of the split coin is making a lot of people switch from altcoins into BTC. You can see this suppressing the prices of various alts right now. There's probably a bit of fiat being moved from the sidelines as well. It's similar to what happened leading up to the August 1st BCC/BCH split. It will be very interesting to see if we get the same follow through after the split this time as that could lead us up to $6000 or above.

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Quote from: arcds9 on October 10, 2017, 12:11:44 PM

bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

I'm sure Asian countries are getting more involved into bitcoin as compared to previous statistics. There are more interested countries apart from china and Korea who recently ban the thing. The major potential market in that side is India which is having second largest population after the china and they have full potential to acquire the digital market. The regulations how ever are under process in India where tax authorities will be watching the bitcoin trades. But that's not completely I ole meted yet and it will surely take time. Until the time people will keep investing into bitcoin and the flood of investment shall rise until then.

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Quote from: arcds9 on October 10, 2017, 12:11:44 PM

bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

What are the reason behind this? why don't you try researching it? Did you ever know that Japan has listed a lot of exchanges for bitcoins? even if China is ban ICOs, Japan and Other countries like Philippines are obviously supporting bitcoin.

orions.belt19

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Quote from: Siren on October 10, 2017, 10:54:48 PM

Quote from: Almat on October 10, 2017, 10:20:25 PM

Well it dipped for a while and is now rallying back. Plenty of Asian countries have also shown optimism regarding Bitcoin, such as Japan and Taiwan. This translates to consumer optimism and increased demand.

I think today its is the sideway trend. Yeah, Asia countries like bitcoin so much. I think one factor for its boom in Asia not just for the economic giant but third world Asian country is that it gives them a chance to earn bitcoin to help them survived in their country. And even most of them are treating bitcoin as a job so no wonder the price of bitcoin is skyrocketing on that corner. And Japan, South Korea and even Taiwan now are bitcoin friendly resulting on so much optimism about it. And I think that Asia will continue to show desire and willingness to buy bitcoin in the next coming years.

This is actually surprising because Asia is full of traditional countries and most are not so welcome to new and foreign concepts such as this.

I agree that a factor could be the friendly approach there is for Bitcoin in countries like Japan - I believe that their legal system allows the bitcoin users to maximize its use and potential. Along with this, the popularity and interest for bitcoin has increased. It is also true that some users in Asia has been treating bitcoin as "sideline income" or way for them to earn extra, so I guess this contributes to the growing demand for Bitcoin in that area.

Siren

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Quote from: Almat on October 10, 2017, 10:20:25 PM

Well it dipped for a while and is now rallying back. Plenty of Asian countries have also shown optimism regarding Bitcoin, such as Japan and Taiwan. This translates to consumer optimism and increased demand.

I think today its is the sideway trend. Yeah, Asia countries like bitcoin so much. I think one factor for its boom in Asia not just for the economic giant but third world Asian country is that it gives them a chance to earn bitcoin to help them survived in their country. And even most of them are treating bitcoin as a job so no wonder the price of bitcoin is skyrocketing on that corner. And Japan, South Korea and even Taiwan now are bitcoin friendly resulting on so much optimism about it. And I think that Asia will continue to show desire and willingness to buy bitcoin in the next coming years.

h0lybyte

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Bitcoin was initially traded by merchants in some particular countries but now this revolutioning currency has become popular internationally.
People over different countries have been appearing more intereted with bitcoin than regular fiat currencies.
Money transfer networks like moneygram, western union are much expensive and time taken than bitcoin, so there is the reason for skyrocketing bitcoin demand.

Almat

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Well it dipped for a while and is now rallying back. Plenty of Asian countries have also shown optimism regarding Bitcoin, such as Japan and Taiwan. This translates to consumer optimism and increased demand.

yugyug

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Of course indeed, at first on the beginning of 2nd quarter this year when Japan gives a go signal for bitcoin as a legal tender, the demand skyrocketted and also indicates a bullish trend of bitcoin price ranging to 2000 USD. There are also other Asian countries that are an early adaptor of bitcoin like Philippines and Indonesia. Then, China is the undisputed king of mining pool almost 70 percent of shared mining pools are there, the unbeatable bitcoin ASIC mining manufacture. South Korea and INDIA are joining the bitcoin bandwagon from trading to ICOs, regulating ICOs area good benefit to ASIAN countries for sustainable cryptocurrency and blockchain industry.Pseudo-named Satoshi Nakamto was agreat influence to Japanese bitcoin adaptor.

Jating

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Quote from: arcds9 on October 10, 2017, 12:11:44 PM

bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

For a start Japan has legalized bitcoin so the demand from them is huge. And they are now the #1 country in terms of trading volume, followed by another Asian giant, South Korea. Although the bitcoin price is really peaking this past few days, the reason is that the looming hard fork on Oct. 25 might be involved and this is the effect that we are seeing. So demand plus speculation = bitcoin price skyrocketed and going to the moon. But don't forget that its not only in Asia though, bitcoin has no boundaries is that Asia is leading the revolution for this new technology and its taking the world by storm.

lzby2000

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I think. For the time being, India and Southeast Asia have not shown greater interest in BTC, if so. That BTC will speed up in the future. One thing that can be predicted is that BTC will soon break through $ten thousand.

adiksau0414

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If ever it is true, its a good news. Eventhough bitcoins is popularly known in my country, still in a bitcoin user, so its a big news for me. I
If only bitcoins is known widespread in asia, i guess it will be a big help (especially in those in third world country in asia). So, i supposed i should celebrate. Go asian country for bitcoins.

miyaka26

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Bitcoin became popular in Asia that's one factor to be considered why bitcoin have a huge bumps in its price, people started to adapt to its virtual potential to market and expecting the price to increase throughout the year and even next year we're expecting it to have a very positive potential to break it's market price record increase.

Sadlife

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It appears that the reasons is mostly japan and philippines because they were the first asian countries to adopt and legalized bitcoin then the other countries who is having doubts have finally made up their mind then few days after south korea decided to invest in bitcoin. I guess after they saw that the other near countries is buying a crypto currency that might change one countries economy for good they've decided to take the risk.

yrreg ger

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Quote from: Zadicar on October 10, 2017, 01:41:57 PM

Quote from: jjacob on October 10, 2017, 01:34:33 PM

Quote from: arcds9 on October 10, 2017, 12:11:44 PM

bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

You should say Asia-ex China. Demand definitely isn't sky rocketing in China, due to the government's tough stance against Bitcoin.
In countries like Japan and South Korea, friendly regulation has helped demand take off.

Asia doesnt only focuses on China alone since there are lots of countries which are included on it which same as you mention like Japan and South Korea did somehow lift up bitcoin inspite of such Ex-China regulations Grin

If its skyrocketing then this thing is really a good new and now we do see prices are already climbing up not on adoption but because on the upcoming events.

Right, China is not the only country in Asia and banning bitcoin by them should not affect the interest of the other country. It might have affected the price of bitcoin but of course bitcoin will not die of that, there are countries who have big interest with bitcoin like Japan and Korea and if this countries decided to invest more, surely bitcoin's price will increase more. Banning bitcoin only made it more interesting and if we are going to talk about the future, countries who have stayed with bitcoin will certainly be more advanced.

MissionPhailed

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Quote from: arcds9 on October 10, 2017, 12:11:44 PM

bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

The upcoming hardfork on the 25th this month might play a role in this matter. In any case, Bitcoin is about to hit a new ATH. Previous ATH was on september the 2nd with a value of $4975 and market cap of over $82 billion. Currently we're looking at a price around $4900 and a market cap of over $81 billion. I took the mentioned numbers from coinmarketcap.com btw.

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Quote from: jjacob on October 10, 2017, 01:34:33 PM

Quote from: arcds9 on October 10, 2017, 12:11:44 PM

bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

You should say Asia-ex China. Demand definitely isn't sky rocketing in China, due to the government's tough stance against Bitcoin.
In countries like Japan and South Korea, friendly regulation has helped demand take off.

Asia doesnt only focuses on China alone since there are lots of countries which are included on it which same as you mention like Japan and South Korea did somehow lift up bitcoin inspite of such Ex-China regulations Grin

If its skyrocketing then this thing is really a good new and now we do see prices are already climbing up not on adoption but because on the upcoming events.

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Quote from: arcds9 on October 10, 2017, 12:11:44 PM

bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

You should say Asia-ex China. Demand definitely isn't sky rocketing in China, due to the government's tough stance against Bitcoin.
In countries like Japan and South Korea, friendly regulation has helped demand take off.

arcds9

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bitcoins - skyrocketing demands in Asia, it is true........So, what are the reasons behind this?

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