Topic: Japanese people, here they come (Read 368 times)

Oh I love how you put all of that.
Discipline. This is one of their greatest feat.

Bitcoin is a legal money to them so it won't be a real problem unlike us who live in a place where we need to find a bitcoin accepting store in caves.  It is like an adventure just to find one.
So, because they can just use it anywhere, they will buy it without any regret at all but not a store of value.
They will spend it, yeah a larger percentage that they will.
Somehow, it is still not bad. Good circulation means something in the financial industry.

I have been wondering what is keeping the bitcoin price up and up when I was waiting to buy low for one of my students. The Japanese have always been a major player in this space together with their South Korean counterpart.

According to every other centralised exchange or crypto business, people are flocking to them. Why wouldn't they want to drive that fomo especially in times like these when everyone is forced to spend more time online?

Japan's a Bitcoin pioneer. Mt Gox had a lot to do with it, but eventually, it's the progressiveness of that society and a longstanding will for innovation that's led them down this path. What's also really good in previous stats I've seen is that they're more holders and less speculators!

The whole world is facing the corona virus issue including the Japanese people. Maybe for that reason we do not see a lot of rush by the Japanese or any country people to buy bitcoins at cheap rates. People are these days more concerned about their health and do not want to buy a lot of bitcoins at the present money as the future of everything is uncertain these days.

Japanese people come to crypto and absolutely, they love and comfortably use it.
We know how their people's behavior and it comes into economic growth, they are performing great as well. If they have to find crypto as another source of their income, I believe they make a huge investment in here and help the market bringing into another level. And I know, we need strong support from the community and makes the recovery a little bit faster than as we witness today (far from reaching back to $10k).

Everyone knows that and we are still here hanging in the forum and holding our Bitcoins.
There is actually nothing that is safe at the moment therefore I do think if someone or something is actually giving you a job and you are able to earn even a little at a time like this , then this is amazing , much better than what the government is providing.
People who are not whales and who are in the business , they stick with Bitcoins no matter what the value , it's called trust and assurance. That is why Bitcoins is so popular , because people trust it .
Soon enough it will go high again and people are just egarly waiting for a time like that .

From that point, positivity is really needed in order to hold from this current barrier, if indeed japanese people are now taking this opportunities
it will bring good impacts to this industry. Knowing how the this nations have the right discipline and attitudes they can lift the economy around crypto,
if they push it in the right directions and keep providing more investment then we will expect good outcomes after this crisis got resolved.

We all know that bitcoin is very near to halving and after every halving is a bull run for bitcoin. The current bitcoin prices are very tempting for buying it, if anyone has faith in crypto. Also these days i am hearing that carrying physical paper notes is also dangerous and this will lead to replace paper money to digital currency.
Japan was first few countries who adopted bitcoins and therefore Japanese people would not miss opportunity to buy bitcoins.

 
will see how it go lately

They are just taking advantage of the current situation. Almost everyone knows that it's always the best time to buy when everyone is doubting the capabilities of an asset to bounce back, especially bitcoin. You don't have to be from Japan to know that these opportunities are the real deal. Furthermore, we have seen bitcoin rise amid the downfalls it saw itself in, and it has done so not only once but many times. I will go so far as to call buying bitcoin on these times as common sense, as we all know where it takes us after all of these are said and done.

Fortunately, some other countries have not followed the example of Japan, which has completely underperformed in its economic strategy and has been at the top of countries for the longest time in terms of debt to GDP ratio. This information is surprising many, because they consider the Japanese to be very intelligent and smart people, but now it is obvious that from time to time they have politicians conducting very dangerous experiments in economics.

You don't have to be Japanese to know that this is a great moment to buy bitcoin, ever since it went under 6k. I know i would have, i i had any fiat money to begin with...

In addition, Japan is one of the few countries that correctly stopped the virus, so for them like China that situation pretty much over (at least inside their country). Not taking this opportunity to buy things this cheap would be stupid to say the least.

As for KYC, Japan has had long those strict regulations in place, so its not like they haven't already done it, they simply didn't see the opportunity to get in, but now they do.

I have said so before: Even a global economic crisis, will NOT hurt bitcoin. Price fluctuation does not mean getting hurt. While the economies that are backing most fiat currencies may actually fail (ie. the rapidly USD losing value), bitcoin's purchasing power will not fall with them, they are not pegged unlike the "stable coins" who will follow fiat to the death. Bitcoin may have temporarily lost some value, but thats where it ends. It is fundamentally different to fiat and therefore unchained to the global economy crisis.

Anyway just because Japan does this, or does that, should not be an indicator of anything. Some of them were also fooling around with ripple before so they can make mistakes...

For so many years, Japanese is known to be a respectful and discipline people they are really love what they are doing. The high percentage of new users in the bitbank exchange might be a panic, a panic that could trigger the bullish market. Just think of this, we are all sitting in front of the computer/smartphone feeling the possibility of a price hike in bitcoin then if these huge number of people starts to buy bitcoin then it might pull the bull out right? Although I'm skeptical about the KYC policy that they are having with it.

It's good to know that many Japanese people continue to believe in the power of Bitcoin,despite the crisis.
Perhaps the Bitcoin price recovered from 5K USD to 6,6K USD mostly because of the buyers from Japan.
We can't say the same thing about westerners.They keep BTC as long as they have profits.If the profits are gone,the westerners are gone too.The eastern mentality is more patient and resilient.
Anyway,I think that this article is advertising Bitbank.I've never heard anything about this exchange,so use it with caution.

This is good news, which indicates that the recent fall of the cryptocurrency market was not a panic, but only the need to withdraw funds by many people in order to prepare for quarantine in the context of the spread of coronavirus. When the price of cryptocurrency has fallen, visionary Japanese use this moment to be able to make a profit in the future. After all, no one has yet canceled the reduction of remuneration to miners in May, life will continue and the cryptocurrency market will work.

In ventilating my opinion, Bitcoin will continue to rise from now despite the Coronavirus scourge till Bitcoin halving in May. It may not be a steady rise but the price won't crash what we already have seen. And if the remedy to this pandemic is found before halving that means Bitcoin price will be to the sky. I think speculators and investors are buying now on this belief.

Yes, they know what they're doing and aware of the situation of the market. They are wise and known to be one of the most high-tech country in the world, knowing that the huge contribution in the technology comes from them.

If all the people does have the mindset of the Japanese people, they'll earn from it someday. It may not be as quick as the beginners think but this is all about the long term.

Looks like japanese people are smart because most people in various country would sell their positions especially my country where even if a short term correction occurs they would panic and sell thinking that Bitcoin might go to zero value, cause they have this concept about Bitcoin that its a scam because they're not properly educated about how Bitcoin works and its capabilities.

If there is a chance for Japanese people to earn then they will surely grab it especially if they are sure that they can profit to what they are doing. Right now the market is still low so it is still good for buying then hold for a long term one and I am sure that Japanese people are up for it.

Because trading is not that easy to engage especially if the investors are still newbie therefore there option if there are many people who are registering a new accounts to bitbank exchange is to buy low and sell high which is a long term investment.

This maybe because people in some areas of Japan has been prohibited to go out so their government can easily contain the virus, thus most people have the luxury of time to read about cryptocurrency, monitor the price, and invest in the most convenient price.
So, I guess this explains why Bitcoin seems to be gradually recovering after it fell as low as $4,000 level.
Nevertheless, crypto enthusiast would always find the recent blood bath an opportunity of a multiple profit.