One group of traders has risen to dominate bitcoin trading
REUTERS/Yuriko Nakao Japanese men in their 30s and 40s are driving the cryptocurrency market. They overtook their Chinese counterparts after regulators started to shut down exchanges. Many JapaneRead full story
Bitcoin is a big boom in Japan. For example, one of the famous Japanese IT company, GMO Internet, start paying its employees’ salaries partially in bitcoin. One of the reason behind this boom is that Japanese government granted cryptocurrencies legal status as a means of settlement and officially recognized 11 digital currencies exchanges. This has encouraged investor interest.
I would suggest that young Japanese men in this demographic are dominating more than just bitcoin trading. I think there is a definite tendency to trade generically not just in the crypto space....
Bitcoin is indeed a very popular topic at NewsPicks Japan. It's no coincidence that the age range and gender described in the article represents our core user demographic as well.
Japan is certainly uniquely positioned to emerge as a key ecosystem for cryptocurrencies.
I still believe Bitcoin has some fundamental flaws that prevent it from being the cryptocurrency of the future. Even if it is recognized by other governments, it will never be adopted as usable currency if recent levels of volatility persist.
Acceptance of cryptocurrency is and will be high among cultures and generations that accept the virtual as something that exists. If gamers have no problem paying fiat currency for a weapon in a computer game, then the leap to wide acceptance of a distributed cryptocurrency is a small one. Some cultures and generations will jump sooner than others. Japan has obviously leapt.
Ah, why Japanese people...
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