Is It Possible To Use Only Bitcoin In Japan? - page 2.

Xester

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Quote from: Vialaia on April 10, 2017, 03:41:21 AM

Due to the official adoption of Bitcoin in Japan as a means of payment, the thousands merchants will accept the virtual currency this year. But what the actual facts are? Whether you can easily pay for goods and services in Japan using Bitcoin? This helped us to understand BitKan officials. BitKan marketing director Ruby Chen conducted a three-day experiment, which showed how in reality it was possible to use Bitcoin...

Read more here https://bit.news/eng/is-it-possible-to-use-only-bitcoin-in-japan/

Bitcoin is still in the experiment process in Japan and we cannot expect it to go full blast within a week. It will take a long time for everyone to adjust and adapt to the new technology in payment. But it will not take a very long way for Japan since they are very well identified with technology and they are very technical in terms of computer, smartphones and applications. The most important thing is that they have started to move with bitcoin and it is only the beginning.

OliynyK

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With Japan Officially recognizing Bitcoin now people have to fill in their verification details if you are depositing a huge amount and i even heard that you need to hand over a video verification which is really serious about how they are looking to monitor every users and have a record regarding that and with the Olympics coming to Japan it will be a huge thing for the tourist to use bitcoin rather than converting to fiat to use which is really good.

Soul Reaper

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See as of now it ain't possible.
Even though bitcoin has gained a lot of acceptance,
And ask a huge amount of users.
Many still may not know about it yet.
Such a situation can occur not now,
But I think a decade from now,
We can see bitcoin as the king currency,
All over the world.

gracia0023

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Japan is smart. They will not fully rely on bitcoin itself. Bitcoin reliance is a very risky thing to do. Based from the bill they passed last April 1 (correct me if i am wrong), they did not fully legalize bitcoin as a currency in Japan, they just accept bitcoin as a method of payment.

When it comes to the possibility of only using bitcoin in Japan, it is possible but very unlikely.

xuan87

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I saw the experintal video about the person only rely on bitcoin for 72 hours, it is really cool but to survive totally only based on bitcoin still not the time yet, maybe in few years later after more shop accepting bitcoin then it will be possible, I can see that Japan is going to be the first country that you can survive only by bitcoin

Winner

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Quote from: Dorky on April 10, 2017, 06:14:42 AM

You can actually use only bitcoin in Japan.

All you need to do is sell some of your bitcoin in exchange for yen, and spend your yen in Japan.

The most easy method to using Bitcoin to survive in Japan would be to have Bitcoin transferred to Yen or another type of Currency. That method allows anyone with Bitcoin to survive not only at a place like Japan though they could survive at other places as well.

I think that Vialaia was trying to ask if there was any possibility if someone could just use Bitcoin to survive in Japan. I am pretty sure that there isn't that much Bitcoin accepting stores within the Japan area so it'll be pretty tough though possible.

iram3130

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Quote from: Dorky on April 10, 2017, 06:14:42 AM

You can actually use only bitcoin in Japan.

All you need to do is sell some of your bitcoin in exchange for yen, and spend your yen in Japan.

That can be done in any country mate. The OP is talking about using Bitcoin without converting it to fiat. And that is quite not possible at present.
The government is friendly towards Bitcoin market but I think economically it'll affect Japan because the fluctuations in the Bitcoin market is high and a sudden dump will make it bad for Japan.

Dorky

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You can actually use only bitcoin in Japan.

All you need to do is sell some of your bitcoin in exchange for yen, and spend your yen in Japan.

talkbitcoin

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All I know is that I know nothing.

i don't think people can live on bitcoin "only" today. maybe someday in the future when price is more stable though. because the price fluctuation may seem good to those who have invested in bitcoin and see it as such but when you want to use it as a currency, obviously you would like it more to have an stable price.

i should add that this is the first step towards that day though. and i am very excited about this news.

tokenmarket

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Quote from: Vialaia on April 10, 2017, 03:41:21 AM

Due to the official adoption of Bitcoin in Japan as a means of payment, the thousands merchants will accept the virtual currency this year. But what the actual facts are? Whether you can easily pay for goods and services in Japan using Bitcoin? This helped us to understand BitKan officials. BitKan marketing director Ruby Chen conducted a three-day experiment, which showed how in reality it was possible to use Bitcoin...

Read more here https://bit.news/eng/is-it-possible-to-use-only-bitcoin-in-japan/

In terms of law and other kind of regulations, it will need time to adapt bitcoin for mass use in Japan, considering that majority of people find it complicated.

DoublerHunter

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As of now, you can't use bitcoin only in Japan because they are still in the beta testing period where they just testing what will be the impact of bitcoin in their country and especially to their economy. If bitcoin will be successful in their country then it will become another national currency and it will be accepted nationwide and after that you can use bitcoin only just like their traditional currency.

xypos

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Quote from: btcdiggingmaster on April 10, 2017, 05:13:05 AM

I think it will damage the economic conditions of Japan if they make bitcoin is only payment method. They make bitcoin as another method of payment for digital currency.

There is no doubt they are not going to make the bitcoin only payment method, it is obvious that the JPY will stay.
Bitcoin might be used as another way to pay for groceries, bills and in different shops but they won't replace their currency because:

1) They just started recommending bitcoin as a payment method for merchants in the country
2)It is fairly a fresh event in there, but im sure many people have already used btc in there.
3) Implementing bitcoin as a currency for everyday use would be very hard for now- we would need many new solutions to improve speed of blockchain, and to lower the fees on every transaction.

bettercrypto

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Using only Bitcoin in Japan is not possible. There are already other country that acknowledge Bitcoin as mode of payment. One of which is the Philippines. Aside from Japan, Bitcoin is used in the Philippines through a third party processor in paying Bills and other online services. This only signifies that Bitcoin is not Japan exlusive usage.

ice18

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This is impossible at this moment in Japan even in 2-3 years are you referring to bitcoin to use as a main currency in Japan instead of fiat money?This will not happen at this point, maybe in online stores but not in most physical stores or businesses.

btcdiggingmaster

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I think it will damage the economic conditions of Japan if they make bitcoin is only payment method. They make bitcoin as another method of payment for digital currency.

ethereumhunter

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i think its really difficult to use only bitcoin and its not just in japan but in every country as bitcoin is not yet to accepted in many country. we still need fiat to buy something in our offline life. beside that, we still can not use bitcoin in many country to buy something but in future, i am sure that we can use bitcoin in many places. as long as bitcoin is not yet accepting in all country, there will be just a dream to use only bitcoin in one country.

timerland

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Quote from: KennyR on April 10, 2017, 04:29:04 AM

Only bitcoin is really a hard thing, because Japan as an country that gives importance to digital growth now have focused on digital growth of economic system. As a part they have regulated bitcoin causing a sudden increase of around 20% bitcoin acceptance from the online and offline merchants.

And that is the best part about this, Japan is probably going to lead in bitcoin shopping, that was a great move of their government to encourage people using cryptocurrencies.
Im very glad that Japan is supporting cryptocurrencies growth ( mostly bitcoin of course ) because other countries may take this as an experiment.
If it is going to work good, then we may see even more countries following the steps of Japan to implement bitcoin as a one of a payment methods.

Anyway, nowadays it is not possible to live only with bitcoin in Japan, they support merchants adding this kind of payment, but it will take time to see this method available in most of the shops there.
I assume it will be around 2-3 years if not longer, im sure that not every company is happy about the cryptocurrencies law change in the country of the blooming cherry.

KennyR

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Only bitcoin is really a hard thing, because Japan as an country that gives importance to digital growth now have focused on digital growth of economic system. As a part they have regulated bitcoin causing a sudden increase of around 20% bitcoin acceptance from the online and offline merchants.

Rahar02

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Maybe yes in the future, let's say 1-2 years later but not in this year as the article stated : Overall Chen says the trip was successful, but bitcoin is still difficult to use all the time in Japan. Chen hopes that because of Japan's recent legalization law, bitcoin will be easier to use in the region in the near future.
Bitcoin isn't accepted everywhere and still there are some disadvantages to use bitcoin in daily transaction.
However, Japan seems the best country which regulated bitcoin as official payment and a lot of merchants will adopt it, but surely it will grow better over time, and the price already recover to $1200 again.

Qartada

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No. There may be a few stores who accept it if you search all over the place, but in practice you just can't. This is a three-day experiment - what if she had to pay for fuel in her car, or public transport, or even just use pretty much any service, most of which don't accept Bitcoin.

The Japan Bitcoin laws need time to mature and settle with merchants. The "thousands merchants" that you mentioned don't even accept it yet as far as I'm aware, and even then it won't actually be a lot in the overall scheme of things.

Experiments like this have been done before, with people doing experiments of living on Bitcoin for a week, but that's very hard and if you live outside of a major city you're not even going to be able to eat, let alone live your everyday lives.

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