effect of Japan on bitcoin price speculation

shinratensei_

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Quote from: giveen on April 28, 2017, 03:19:14 PM

See the price status we can only expect the japan adoption will have a long term effect on bitcoin as the price increased by 50$ which is actually less than expected. Or maybe the price won't increase much as people had already bought bitcoin before japan made it legal.

Long-term speculation about the japan latest news is can be being true. I mean if the bitcoin gets mass adoption in there and especially if the local store and everywhere already accepted bitcoin as a currency and it can be long-term effect for bitcoin.

Remember if that's a long-term speculation and not a short term one. Don't expect if the price of bitcoin gets pumped a lot in this time.

It will growth regarding the Japanese's adoption.

bohr

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Quote from: Herbert2020 on April 16, 2017, 02:13:41 AM

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

The effects are not going to be felt immediately this is the kind of thing that will take sometime before it gains any kind of momentum but if the adoption of bitcoin takes hold in japan then we will be able to make some money.

el kaka22

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Quote from: Pearls Before Swine on April 26, 2017, 12:21:57 AM

Quote from: zimmah on April 16, 2017, 10:10:00 AM

Quote from: Herbert2020 on April 16, 2017, 02:13:41 AM

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

well it seems like they will keep adding positive value to bitcoin.

as far as i know, a lot of people in japan still use mostly cash for payments, so any digital payment could be huge in japan because compared to cash it's much more convenient.

No it isn't. Waiting on confirmations? Transaction fees? Fuck that, it takes 12 seconds to give cash and get change back. Even less if you have the exact amount. Plus you have to go and buy bitcoin to begin with. Not at all more convenient.

I don’t find it that frustrating. When you are going to buy you already have made your mind to wait for it because of the reason that it is new technology related stuff. What all you need is to be patient and calm.

The giving cash concept is centuries old and developed so it seems easy to a few people in local. The bitcoin is much faster than that. If a country like Japan is accepting it then it means it has something to do better than the traditional one.

giveen

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See the price status we can only expect the japan adoption will have a long term effect on bitcoin as the price increased by 50$ which is actually less than expected. Or maybe the price won't increase much as people had already bought bitcoin before japan made it legal.

sana54210

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Quote from: Vaskiy on April 25, 2017, 11:03:18 PM

Quote from: ArdiPrabowo on April 25, 2017, 06:23:35 PM

Quote from: ekoice on April 16, 2017, 12:49:44 PM

Quote from: Herbert2020 on April 16, 2017, 02:13:41 AM

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Japan's adoption of bitcoins would definitely have an impact on bitcoins.But it would take some time to happen.

japan regulated bitcoin to legal currency
effect bitcoin price this now incraese very high

The ongoing price increase might be depending upon the regulations made by Japan on bitcoin usage, the Russian government accepting bitcoin as well the increasing contribution to bitcoinfrom the Asian countries. Possibly the upcoming days too give us a big increase in users as well the price.

It is possible in fact saying it will not be wrong that Japan played its part in the price increasing of the bitcoin. By allowing and recognizing the bitcoin by Japan have built more confidence to its users. As Japan is having a very well established economy and people from that economy now using it legally is a factor of making it popular. Now many people will demand for to get the Bitcoin and this raise in demand is directly proportional to the raise in the price of the bitcoin.

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Quote from: lionheart78 on April 25, 2017, 05:11:19 PM

Quote from: Pursuer on April 23, 2017, 03:27:52 AM

the technology is the blockchain technology and adopting that means creating your own alternate cryptocurrency. if they adopt that, then it has nothing to do with bitcoin.

Adopting does not necessary means you are to create a new cryptocurrency, it is more likely you are going to accept Bitcoin and its technology. Use it in whatever is advantage you can have over other currency. So basically when someone adopt, it does not mean creating a new one, it is either using the current technology with Bitcoin or creating a new one.

Even after adoption creating a new currency is not that bad idea. I will be basically doing well to the Bitcoin. As I have seen many altcoin supporters who while explaining it to you gives you the example of the bitcoin.

The next thing they do is they will tell you look at the price of the bitcoin it is going sky high. This is where they develop an image of the bitcoin unconsciously into the mind of others. It can be seen that many people sell the altcoin and came to bitcoin. This is the success of the bitcoin.

malcovixeffect

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It does a good effect on the price but with the current bitcoin state it cant handle mass adoption.
Maybe we cant reach the moon price hehe

BlackPanda

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It still does not look too significant. But right now I feel that bitcoin prices are improving for the better.
Although a little of course this is very profitable.

YuginKadoya

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Quote from: joshy23 on April 23, 2017, 12:32:53 PM

Quote from: YuginKadoya on April 23, 2017, 05:08:57 AM

Quote from: ?? on ??

Quote from: Herbert2020 on April 16, 2017, 02:13:41 AM

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Well,we couldnot expect any price change in bitcoin in short term.But japan accepting bitcoin would definitely have a positive impact on bitcoin's price on a long run.Demand for bitcoin would increase which would eventually increase bitcoin's price.

Every Positive news regarding bitcoin would have a great effect to it, and by japan accepting and using it, we can see a slight movement up, are we gonna see a $1300 mark for the month of May? we will see, and not only japan that is gonna be open about bitcoin because next year will be very fruitful for bitcoin because Russia will accepting and be using bitcoin as well, I think it will be another positive feed back for us!

We are above $1300 now and touching $1400 soon. Indeed, Japan has influence the big jump of bitcoin price since the its inception earlier this month. I hope that other country will follow what Japan has set up. So that the price of bitcoin will even soar up to the end of 2017.

As of this time bitcoin's value is $1297.40 and yes it is nearing the $1300 indeed well I will not say it's gonna get near $1400 value for sure but well that is just my hint, but I think I am pretty sure about it, because when we landed this 1300 value it took us a long time, but it is still my speculation even if japan has accepted bitcoin that is what I am feeling.

Kemarit

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Quote from: bamboylee on April 26, 2017, 07:07:09 AM

Quote from: Pearls Before Swine on April 26, 2017, 12:21:57 AM

snip
No it isn't. Waiting on confirmations? Transaction fees? Fuck that, it takes 12 seconds to give cash and get change back. Even less if you have the exact amount. Plus you have to go and buy bitcoin to begin with. Not at all more convenient.

Though what you mentioned are all valid issues bitcoin is facing right now that is holding adoption and price hike back, the topic is the effect of japan's move to bitcoin. Making bitcoin legal in Japan opens a lot of opportunity for bitcoin users and maybe even other cryptocurrencies. Japan will be the model for other countries and if it becomes successful in Japan, other countries may follow and will make bitcoin grow more on price.

Absolutely Japan making bitcoin legal in their country open a lot of opportunities to us. Now I'm thinking of buying items from Japan and paying with my bitcoin. Grin

Or we can sell something that Japanese people want and they pay us with their bitcoin.

Although for me the Japan effect on the price of bitcoin will be only felt long term. Its barely a month since making it legal so we still need to see how the price will move in 6 months time. Japan is setting a precedence, and I hope other country will follow what they have set regarding bitcoin adoption.

bamboylee

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Quote from: Pearls Before Swine on April 26, 2017, 12:21:57 AM

snip
No it isn't. Waiting on confirmations? Transaction fees? Fuck that, it takes 12 seconds to give cash and get change back. Even less if you have the exact amount. Plus you have to go and buy bitcoin to begin with. Not at all more convenient.

Though what you mentioned are all valid issues bitcoin is facing right now that is holding adoption and price hike back, the topic is the effect of japan's move to bitcoin. Making bitcoin legal in Japan opens a lot of opportunity for bitcoin users and maybe even other cryptocurrencies. Japan will be the model for other countries and if it becomes successful in Japan, other countries may follow and will make bitcoin grow more on price.

Pearls Before Swine

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Quote from: zimmah on April 16, 2017, 10:10:00 AM

Quote from: Herbert2020 on April 16, 2017, 02:13:41 AM

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

well it seems like they will keep adding positive value to bitcoin.

as far as i know, a lot of people in japan still use mostly cash for payments, so any digital payment could be huge in japan because compared to cash it's much more convenient.

No it isn't. Waiting on confirmations? Transaction fees? Fuck that, it takes 12 seconds to give cash and get change back. Even less if you have the exact amount. Plus you have to go and buy bitcoin to begin with. Not at all more convenient.

hase0278

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Quote from: RoommateAgreement on April 25, 2017, 11:22:35 PM

i think we can say that the current rise is because of Japan, at least partly.
but the more important effect of Japan, which will also affect the price in long term, is the effect they had on other countries. a lot of other countries are now talking about doing a similar thing. Russia for example has finally changed their mind and are taking a more friendly approach towards bitcoin. and with more countries accepting bitcoin and making it officially legal, the price can spike up fast.

So probably in long term Japan's bitcoin price speculation will also have good effect? If all other countries will take Japan as an example it would be positive on the outside on the long run but it will be a hassle since I know many regulations will be created pertaining to bitcoin which might make it hard for it to be converted to fiat on a daily basis. Also, it might bring more price manipulation in the future because of many countries speculating bitcoin that might try to control the price.

RoommateAgreement

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Bazinga!

i think we can say that the current rise is because of Japan, at least partly.
but the more important effect of Japan, which will also affect the price in long term, is the effect they had on other countries. a lot of other countries are now talking about doing a similar thing. Russia for example has finally changed their mind and are taking a more friendly approach towards bitcoin. and with more countries accepting bitcoin and making it officially legal, the price can spike up fast.

Mbokani

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Quote from: Vaskiy on April 25, 2017, 11:03:18 PM

price increase might be depending upon the regulations made by Japan on bitcoin usage, the Russian government accepting bitcoin as well the increasing contribution to bitcoinfrom the Asian countries. Possibly the upcoming days too give us a big increase in users as well the price.

The Asian countries have been participating in the bitcoin echo system from the beginning and it is evident from the fact that many huge farms are centered around China and the first big bitcoin exchange MTGOX was from Japan ,so you really cannot undermine the contribution of these countries and it is a good thing for the government to come up by regulating bitcoin and now more countries will be regulating bitcoin and with the review of ETF coming up i guess we would see another rally.

Vaskiy

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Quote from: ArdiPrabowo on April 25, 2017, 06:23:35 PM

Quote from: ekoice on April 16, 2017, 12:49:44 PM

Quote from: Herbert2020 on April 16, 2017, 02:13:41 AM

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Japan's adoption of bitcoins would definitely have an impact on bitcoins.But it would take some time to happen.

japan regulated bitcoin to legal currency
effect bitcoin price this now incraese very high

The ongoing price increase might be depending upon the regulations made by Japan on bitcoin usage, the Russian government accepting bitcoin as well the increasing contribution to bitcoinfrom the Asian countries. Possibly the upcoming days too give us a big increase in users as well the price.

ArdiPrabowo

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Quote from: ekoice on April 16, 2017, 12:49:44 PM

Quote from: Herbert2020 on April 16, 2017, 02:13:41 AM

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Japan's adoption of bitcoins would definitely have an impact on bitcoins.But it would take some time to happen.

japan regulated bitcoin to legal currency
effect bitcoin price this now incraese very high

lionheart78

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Quote from: Pursuer on April 23, 2017, 03:27:52 AM

the technology is the blockchain technology and adopting that means creating your own alternate cryptocurrency. if they adopt that, then it has nothing to do with bitcoin.

Adopting does not necessary means you are to create a new cryptocurrency, it is more likely you are going to accept Bitcoin and its technology. Use it in whatever is advantage you can have over other currency. So basically when someone adopt, it does not mean creating a new one, it is either using the current technology with Bitcoin or creating a new one.

Quote from: Pursuer on April 23, 2017, 03:27:52 AM

what you call "transaction issue" is not a concern for any country while making a decision about letting bitcoin be legal or not or even do what Japan did and accept it as a real currency.

Everything about the coin either it is a good thing or a bad thing is always an issue with the government specially if they are to adopt Bitcoin. They study both the negative and positive impact and if ever positive outweigh the negatives, then they will more likely to adopt it.

virasog

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Quote from: dihari on April 22, 2017, 07:05:32 PM

Quote from: Herbert2020 on April 16, 2017, 02:13:41 AM

I don't see any topics about this so here we go.

according to coinmarketcap.com when you sort the table based on volume, among the top 10 exchanges sorted by daily volume you can see 4 of them are BTC/JPY markets with a total of $36,444,090 volume currently for the past 24 hours.
although 3 of them have an * above them which can mean there is no fee (or some other thing) on these exchanges.

apart from high trade volume my main subject is the fact that Japan recently adopted bitcoin on a massive scale since it is now legal and a legit currency.

so what do we expect from all this in short or long term.

Well, if this increasing bitcoin price is caused by the thing you have showed, I hope there will be more exchange that provide more international currency pair with bitcoin like btc/eur, btc/cad, btc/gbp, and more pair in another foreign currency. It will help bitcoin widespread and regulated.

Yes, all these markets compared with bitcoins will give good boost to the bitcoins. You remember we have pairs in forex like USD/JPY, USD/AUD and now these pairs with bTC is a new trend. Hope it will provide more value to bitcoins.

Maheshkumar_Hrangkhawl

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Quote from: joshy23 on April 23, 2017, 12:32:53 PM

We are above $1300 now and touching $1400 soon. Indeed, Japan has influence the big jump of bitcoin price since the its inception earlier this month. I hope that other country will follow what Japan has set up. So that the price of bitcoin will even soar up to the end of 2017.

Apart from Bitfinex, none of the exchanges are showing a rate of more than $1250 per coin (right now it is around $1350 in Bitfinex). The rate is $1241.10 in Bitstamp, and $1238.79 in BTC-E. So there is some distance to go before we touch $1300.

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