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    Author Topic: Japan to accept Bitcoin as payment method.  (Read 16372 times)

    • michkima
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    March 30, 2017, 04:11:57 PM
     #41
    Quote from: RhodaGila on March 30, 2017, 03:54:07 PM
    Quote from: Dimelord on March 30, 2017, 07:16:27 AM
    the first japan bill containing virtual currencies is expected to come on april which recognizes bitcoin as a method of payment.Although,it doesnot define bitcoin as a legal currency,it is still considered as a remarkable progress for bitcoin in japan.Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.
    Is this a serious or just nonsense?
    Actually this is good information, but why I do not believe the news. It would be nice if the included link or press releases or others who can prove and corroborate this story as a whole so that the information submitted is valid and enlightening.

    I agree, good information should include a proof of that information. However, if this would be true then it might be a great leap for bitcoins and probably this could be the jump off point of bitcoins getting adopted by the whole world. We just need a big push to really make bitcoin become a mainstream choice as a currency.

  • Slark
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    March 30, 2017, 04:20:58 PM
     #42
    Quote from: Dimelord on March 30, 2017, 07:16:27 AM
    Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.
    Good from Public Relations point of view, it is nice press for bitcoin as most people are not going to research details.
    And for them bitcoin will evolve to be a legal tender in Japan from now on, another boost for bitcoin credibility.
    The reality is more grim, especially considered that now transaction fees are as high as $0.5 so let's hope it will be fixed before 2020.

  • danherbias07
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    March 30, 2017, 04:24:05 PM
     #43
    Quote from: Slark on March 30, 2017, 04:20:58 PM
    Quote from: Dimelord on March 30, 2017, 07:16:27 AM
    Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.
    Good from Public Relations point of view, it is nice press for bitcoin as most people are not going to research details.
    And for them bitcoin will evolve to be a legal tender in Japan from now on, another boost for bitcoin credibility.
    The reality is more grim, especially considered that now transaction fees are as high as $0.5 so let's hope it will be fixed before 2020.


    I totally agree. That is one of the most important thing that will happen. The free advertisement for bitcoin.
    Just knowing the news or friends using it as a means of payment in a big event would make them question themselves to what that person used to buy a ticket.
    This is exciting and I did not expect that Japan will really take that big step into making it as a payment method that is almost like fiat.
    There will be a lot to happen in this year. Hope they are all good and not those just bashing around for selfish reasons.
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  • Winchester2211
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    March 30, 2017, 04:30:58 PM
     #44
    Quote from: roadbits on March 30, 2017, 11:09:04 AM
    Quote from: iv4n on March 30, 2017, 09:15:06 AM
    Quote from: mynhpark on March 30, 2017, 09:00:25 AM
    By the end of 2016, there were around 4200 Bitcoin-accepting merchants and storefronts in Japan, near quadrupling the total from 2015. Now, with the current progress in Bitcoin regulation made by Japanese authorities, the number of merchants accepting Bitcoin is expected to quintuple to 20000 this year. Indeed, good times for Bitcoin adoption are coming.

    And imagine all the people that will come to watch Olympics? No more bothering about currency exchanging, you go to another country and you pay with bitcoins in any restaurant, you can buy something else, what a relief will bitcoin be for people that plan to go there and have bitcoins.
    I hope we will see some statistics after Olympics about this topic, how many people will spend some bitcoins in this shops, this will be a test for bitcoin.
    Yes, this will be a test for Bitcoins. And the tourist doesn't need to stand in front of currency exchange shops to exchange their currency. But I have doubt that is this real news or fake. If it is real then the local currency exchange they will get big loss in this business.
    In April 2017 bitcoin will officially be means of payment throughout the country. So predprinimaet adopted the bill on amendments to the Law on the payment system of Japan.
    For the first time a proposal for the revision of the Law in favor of accepting bitcoin at the legal level was made in June 2016. As a result, in December of the same year was presented for the consideration of the first legislative amendments on this issue.
    The state authorities constantly emphasize that in the future bitcoin will become legal tender, but not official currency. The letter of the law clearly prescribes the difference between "digital currency" and "currency". The latter remains unchanged the monetary unit is Japanese yen.

  • Captimiz
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    March 30, 2017, 04:31:35 PM
     #45
    Other countries did this years ago.

  • Slark
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    March 30, 2017, 04:45:11 PM
     #46
    Quote from: Captimiz on March 30, 2017, 04:31:35 PM
    Other countries did this years ago.
    What are you talking about? Are you talking about cryptocurrency or fiat?

    There is no other cryptocurrency which is considered a legal tender in Japan at this moment.
    Perhaps you are thinking that because altcoins are not banned they are on the same level of acceptance as BTC, no they are not.

  • olubams
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    March 30, 2017, 04:49:08 PM
     #47
    Quote from: Dimelord on March 30, 2017, 07:16:27 AM
    the first japan bill containing virtual currencies is expected to come on april which recognizes bitcoin as a method of payment.Although,it doesnot define bitcoin as a legal currency,it is still considered as a remarkable progress for bitcoin in japan.Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.

    I will really appreciate the link to the source of the story then I can make my comment more deductively however with the assumption that its legit then its good news all the way as we have another news coming from that end ans thos predicting the end of bitcoin every now and then have been put to shame one more time...

  • lovesybitz
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    March 30, 2017, 06:16:09 PM
     #48
    Quote from: Dimelord on March 30, 2017, 07:16:27 AM
    the first japan bill containing virtual currencies is expected to come on april which recognizes bitcoin as a method of payment.Although,it doesnot define bitcoin as a legal currency,it is still considered as a remarkable progress for bitcoin in japan.Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.
    That was cool! Smiley even it is not formally bitcoin as their currency at least they made a new step for it about in bitcoin. And not far to be happen that by 2020 bitcoin would be use as payment, wish in my country will do the same thing as Japan did.

  • skorupi17
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    March 30, 2017, 06:17:30 PM
     #49
    This is quite interesting. The acceptance of Japan in using bitcoin is, I think, included in the great achievements of bitcoin as of now. Due to this event, no doubt that bitcoin will start its major growth specifically in the asian countries.

  • skorupi17
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    March 30, 2017, 06:21:10 PM
     #50
    Quote from: olubams on March 30, 2017, 04:49:08 PM
    Quote from: Dimelord on March 30, 2017, 07:16:27 AM
    the first japan bill containing virtual currencies is expected to come on april which recognizes bitcoin as a method of payment.Although,it doesnot define bitcoin as a legal currency,it is still considered as a remarkable progress for bitcoin in japan.Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.

    I will really appreciate the link to the source of the story then I can make my comment more deductively however with the assumption that its legit then its good news all the way as we have another news coming from that end ans thos predicting the end of bitcoin every now and then have been put to shame one more time...

    This seems to meet your demand. This was posted earlier due to great demand. Grin

    The link contains the further details about this thread.

    Quote from: bamboylee on March 30, 2017, 01:17:11 PM
    This is really good news for the bitcoin community. This is a big step to bitcoin acceptance.  I hope other countries will do the same.

    Quote from: paul gatt on March 30, 2017, 01:07:18 PM
    That's a great news, but I doubt its credibility, give us a way to verify it.

    You can read it here, it is up to you if you will believe this or not. Just hope this is not an April Fool's day joke.

    https://news.bitcoin.com/japan-bitcoin-method-payment-april-1/

  • BitcoinPanther
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    March 30, 2017, 06:21:21 PM
     #51
    Japan has been friendly with bitcoins. They are the first one to recognize Bitcoin as legal tender, so it is not surprising to see Japan acknowledging Bitcoin as payment method.  I hope all country would accept Bitcoin as japan did.

  • dothebeats
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    March 30, 2017, 06:42:42 PM
     #52
    Time to put Japan to my bucket list, I guess, and also they made it easier for our citizens to go there as tourists so why the hell not visit Japan in the upcoming Olympics? Also, it would be nice if common necessities and street foods in particular would be purchased using bitcoin because Tokyo is also known for their takoyaki and stuff in the streets.

  • oktana
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    March 30, 2017, 07:59:30 PM
     #53
    Quote from: dothebeats on March 30, 2017, 06:42:42 PM
    Time to put Japan to my bucket list, I guess, and also they made it easier for our citizens to go there as tourists so why the hell not visit Japan in the upcoming Olympics? Also, it would be nice if common necessities and street foods in particular would be purchased using bitcoin because Tokyo is also known for their takoyaki and stuff in the streets.

    When exchanger market like huobi and okcoin got intervention of China government, Japan has claimed the biggest exchange by volume in Asia through bitflyer, it's just a figment of small children because enthusiastic exchanger volume back into US market. Japan still improve crypto system in his own country, but there is no achievement of significant popularity among globally, but this is only waiting for time momentum.

    But with bitcoin recognition as legal tender in that country, they would be the first example of a country that's very friendly to Bitcoin.

  • Sundark
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    March 30, 2017, 08:13:27 PM
     #54
    Quote from: BitcoinPanther on March 30, 2017, 06:21:21 PM
    Japan has been friendly with bitcoins. They are the first one to recognize Bitcoin as legal tender, so it is not surprising to see Japan acknowledging Bitcoin as payment method.  I hope all country would accept Bitcoin as japan did.
    I wouldn't call it friendly. Their bitcoin laws are pretty harsh.

    They introduced their own version of BitLicense, and if you thought that NY version of this document is bad go check out Japan interpretation, it is way worse.
    I think it was because Mt.Gox was in Japan, so now Japanese authorities try to enforce harsh laws to eliminate possibility of another fiasco.

  • Antoshka
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    March 30, 2017, 09:39:49 PM
     #55
    Quote from: Sundark on March 30, 2017, 08:13:27 PM
    Quote from: BitcoinPanther on March 30, 2017, 06:21:21 PM
    Japan has been friendly with bitcoins. They are the first one to recognize Bitcoin as legal tender, so it is not surprising to see Japan acknowledging Bitcoin as payment method.  I hope all country would accept Bitcoin as japan did.
    I wouldn't call it friendly. Their bitcoin laws are pretty harsh.

    They introduced their own version of BitLicense, and if you thought that NY version of this document is bad go check out Japan interpretation, it is way worse.
    I think it was because Mt.Gox was in Japan, so now Japanese authorities try to enforce harsh laws to eliminate possibility of another fiasco.

    No matter what prompted the Japanese government to recognize bitcoin as a means of payment, the main thing is that it is good for bitcoins. This will make it even more popular in many countries of the world

  • staceyoh
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    March 30, 2017, 09:58:58 PM
     #56
    That is great! Japan is one of the country
    who accepts bitcoin. I hope some countries
    will also accept bitcoin.

  • springgers
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    March 30, 2017, 10:02:12 PM
     #57
    Bitcoin does belong back into it's fore father's land.
    Satoshi is Japanese and so it belongs to be big and prosper within it's motherland...

    JAPAN! Grin

  • Yakamoto
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    March 30, 2017, 10:06:13 PM
     #58
    Quote from: Dimelord on March 30, 2017, 07:16:27 AM
    the first japan bill containing virtual currencies is expected to come on april which recognizes bitcoin as a method of payment.Although,it doesnot define bitcoin as a legal currency,it is still considered as a remarkable progress for bitcoin in japan.Hope, most of tourists who would go to japan to see 2020 olympics would be able to pay in bitcoins.
    I'm impressed that Japan is doing something like this, I don't know if it will be beneficial at all considering the nature of government and what it does to stuff like Bitcoin, but considering they're the biggest or second biggest country using Bitcoin right now I have a feeling they might be able to do something with Bitcoin and not screw it up.

    However, I do not know or understand Japanese politics.

  • Qartada
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    March 30, 2017, 10:10:53 PM
     #59
    While they are going to consider Bitcoin as a payment method, they even recognise it's asset-like qualities and seem to have a deeper understanding of Bitcoin.  It's very refreshing compared to, say, Indian politicians still thinking it might be a Ponzi scheme.
    BlockWake - Bitcoin Doubler

  • Rinder
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    March 30, 2017, 11:48:58 PM
     #60
    Well it looks like an amazing way to promote bitcoin, even not legalizing bitcoin Japan is already mooving forward others countries, it will be nice to watch on tv some logo of bitcoins, hope new investors will come into crypto world.
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