Topic: Japanese people, here they come (Read 383 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.

Yeah right:


Author:
By Yuya Hasegawa, a Market Analyst at bitbank, inc

Definitely going to trust those numbers.
If a company reports an increase in clients it's normal to think that the whole country is doing this, Japanese people are withdrawing every yen and putting all in Bitcoin.

But lets' look at the facts:
https://app.bitbank.cc/trade
Hmm, is that line going up or down, cause to me it sure looks like it goes downhill (volume at the bottom, not the price)

It has 125 million people earning around ten times more than Chinese people. You're hard to please.

China is long gone. Korea burnt itself out, is also a closed market so no foreign money can get in and out, and it has been another one with zero fees which makes volume meaningless.

Would we expect less from Japanese lol? Wise people will know that this can be a perfect chance to have a nice investment since the price is very affordable and can't really get much lower than it is now. People are panicking and cashing their money to save it home, mostly thinking that the crisis will have a huge influence on money liquidity, we're all seeing what this worldwide panic has done, people are acting without any proper thinking and Japanese got enough gray matter to make the correct choice lol.



reports measuring the volume by countries always state China, Korea and Japan in the first places also we can't except a large adoption there, by the end, it's a small island compared to china.

In my opinion, bitcoin will recover very quickly. A couple of months and we will see steady growth again. What do you think influences growth very much? Of course, the crisis! And now is the most favorable time for bitcoin.

That's a very good point. You've reminded me the biggest Japanese exchanges had zero fee trading just like China. That makes whatever impact Japan had at the time doubly irrelevant. They're well ahead in terms of retail adoption compared to most places. I'd be very intrigued to know if it's anywhere above negligible.

in 2017, japan was a big deal. i always had a tab open for bitflyer BTC/JPY, and so did other traders i know of. at one point BTC/JPY even represented 60% of all reported trading volume: https://www.cnbc.com/2018/06/22/bitcoin-tumbles-after-japan-watchdog-orders-exchanges-to-review-business-practices.html

after strict crypto regulations were passed, japanese exchange volume plummeted and japan fell off the radar. most of it was fake to begin with i'm sure, but fake volume can have a powerful effect. before 2017, we used to follow chinese exchanges for the same reason.

So it is the reason why the price of Bitcoin goes up recently I though that most of the people who panic sell their holding are buying it back.
I think it is a good sign for Bitcoin. The question now is if this would continue and Japan would make a big move towards crypto or Bitcoin.

If Japanese people were going to run in and save us they would've done it several years ago as they've had the opportunity all along.

I have genuinely never in my life seen any trader anywhere mention JPY volume or pay any attention to it. That says enough about adoption and interest there.

They love their cash above all. It's also revealing that I remember Roger Ver saying that everywhere he went and told locals about BTC they were intrigued, the only exception was Japan where the majority decided it sounded scary.

Japan will get there in the end alongside everywhere else but if it was going to lead it would be doing it already. It has tools and options few others places do.

If the stats are true, it will create more demand for bitcoin. I like Japanese people, the discipline, their way of life. The movement may be owed largely to our current pandemic situation. They don't care if they are required to undergo KYC because I believe they are one of the honest people on earth. Just my opinion. Because I remember reading their history, if someone did wrong, he will commit harakiri. So this is good news in crypto, more users, more demand, hence, increase in price.

Although BTC has not proven resilient to the current global crisis, most investors still know that the time is right to buy when the blood is on the streets. Many saw the opportunity to invest in BTC at an extremely good price (under $4000), probably assuming that the upcoming halving would still have a positive impact on the price increase. Looking at the short term, they have all already profited from the current price, and it is not at all unrealistic that they will profit in the long run.

However, perhaps the reason for investing in BTC by the Japanese should also be seen in the fact that BTC is completely legal in that country, and that there are many shops, restaurants, cafes that accept it as a means of payment. Therefore, it is possible for some to buy it only in the short term to get more for their money by paying for goods and services. This may be even more important if we know that crypto taxes in Japan go as high as 55%, which is definitely not at all attractive to large investors.

Not to promote this source bitbank, but according to them, the bloodbath or the recent bitcoin decline seem to be an opportunity for Japanese people to accumulate or buy more bitcoins. That is based from the number of people registering new accounts on the Japanese crypto exchange which is the bitbank.

Imagine, a 40 percent spike for the number of people is quite huge and KYC doesn't restrict that to happen. What does that mean?

For me, I know Japanese people's actions are so absolute and precise, they have huge discipline in many aspects that they take  and with regards to the recent market decline, I believe that they know what they are doing, and with that, accumulation of huge amount of cyptocurrency would be advisable for us to consider.