Japan is very serious about Bitcoin and they have a very aggressive rollout plan, from various angles.
Not long ago, the 1 April 2017 to be exact Japan announced that it will accept Bitcoin as a legal method of payment. I am sure many though it was an April Fool's joke, but they actually did it. Here is the news Article.
Japan Bitcoin law will come into effect tomorrow.
And then BITCOIN price spikes
The implication was tremendous as the Bitcoin price spiked as a result of this massive undertaking.
Japanese end Bitcoin consumption tax
Then another massive announcement was made when Japan announced that they officially ended the consumption tax on Bitcoin. You can read the full article here which was announced on 1 July 2017
Today is a big day for Bitcoin in Japan. From now onward, there is no longer a consumption tax of 8% on Bitcoin transactions. It will be interesting to see what effect this revised law will have on cryptocurrency adoption in the country. So far, Japan has been rather crazy about Bitcoin and other currencies. With this tax gone, things can only get better from here on out.
Japanese Government Officially Ends Bitcoin Consumption Tax
And then 2 days later as in today 4 July they an announcement are made that 260 000 stores will be accepting Bitcoin starting 10 July.
Three months after Recruit Lifestyle partnered with Japanese bitcoin exchange Coincheck to enable over 260,000 retail stores to accept bitcoin, the company has finally announced on Monday that its point-of-sale app is now bitcoin-ready. Immediately, a chain of 334 eyeglasses stores using the app announced that it will accept the cryptocurrency starting July 10.
You can read the full article Roll out of 260 000 Bitcoin stores in Japan begins
Japanese is definitely a country to watch from a crypto currency perspective. I n my opinion that a lot of Bitcoin will flow into Japan, especially now that the consumption tax is taking away and a lot of stores are starting to accept Bitcoin, and I can promise you that this is only the beginning. You never know they might even start to accept Steem when the time is right :)
I think our other countries should wake up and smell the Bitcoin :)
Happy Steeming!
To clarify are 260,000 stores accepting bitcoin or as your quote of the article says
There is a big difference, my mother is enabled to use bitcoin doesn't mean she does
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Yes, I think is what he meant..
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Maybe not today...but tomorrow :)
I guess it depends...does she live in HongKong? ...jk.
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A store might be enabled to accept Bitcoin or Visa card but it will not stop you from paying in 1 yen coins :)
At least if you stop over in Narita airport, hopefully they accept Bitcoins at the souvenir shop
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Bitcoin is going mainstream! Is this the last chance to get in on Bitcoin before everybody knows about it?
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The Asians always seem to lead the way when when it comes to technology. Cudo's to them and this is great for Crypto!!!
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great article @jacor! it is interesting to see how news and governmental action are changing direction of a bitcoin price! It is very hard to just crypto currency based on their ideas and business models compared to speculators. This is kind of sad, but at the same time it could increase media attention!
Thanks for educating the people @jacor! i will follow you then!
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Thank you very much for the comment @andreolf. I just love this stuff
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thanks for the answer Jacor! i just resteemit you article! i believe in the great content! cheers from switzerland
francesco
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When other countries are deliberating over whether to tax or regulate, here's Japan pushing this initiative full-force. Good on Japan!
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Because Bitcoin is the future and japanese knows it knowing that they are one of the leading country when it comes to technology.
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I do agree and they are also such friendly people. Love the Japanese :)
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They can solve the slow transaction problem by having a local storage of coins. In many ways it's like a cash office for a retail store. Only this system doesn't require an armored truck. It can all be digital.
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Wow, that's pretty impressive! Hoping this will happen in other countries aswell :-)
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They are an impressive nation the Japanese. I hope that other countries might follow suit.
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Japan is a very innovative country and a country that wants its citizens to be free and succeed financially. Most western governent including United states want to have control on everything including freedom and finance of its citizens...bad indeed.
@ jacor , thanks for sharing
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And this is why the Asians are always ahead.. Well done to the Japanese for being logical! Literally, it's not rocket science that BTC is going to be huge. I don't see what's so difficult about accepting a new currency in your shop.. Especially something as simple as Bitcoin.
We are currently launching a local buy and sell website in our area, and 2 days into the beta launch we were able to add Bitcoin as a payment option (The process took about an hour, if even).
Good post. I will leave you a follow :)
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Everyone are accepting BTC and people are saying it will be gone after 1st august , i think come on
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Lol... I think come on too :)
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Can't stump the...well,bitcoin :)
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Nice
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india, japan boy BTC is growing on a massive scale
thank you for this post Cheers mate !
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Awesome article good News for Bitcoin voted up and resteemed😎👍
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This is a very very good article. :)
I think Japan will consider about building their own cryptocurrency to replace bitcoin in the near future.
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I've got a feeling that this will be a catalyst for the rest of the market to adopt this currency and then government would want a piece of the pie and some how "stuffs" it up by causing the value to go down drastically...I would watch this decision/movement very carefully from a crypto investors perspective to be honest.
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Excellent point here philip. This could be a demo run for a future implementation of a state issued and controlled cryptocurrency..
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Thanks for the great post
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Great news for Bitcoin, thanks for sharing!
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Indeed great news. Thanks for the comment
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Thanks for sharing this! I just upvoted you
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I just post good thing about Japan few minutes ago. :)
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great
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Need to run but will check it out later.
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@Jacor -- Great Post. Very good information.
+260 000 new stores?
Seriously - this is almost unbelievable news. There is no doubt this initiative will certainly boost the price, adoption and acceptance of BTC.
Wow...kinda overwhelmed at this.
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Good! Japan's debt is 10 trillion, to 1 trillion GDP! They need competitive currency to escape this tailspin. Unlike the cartoon. That bear will eat them for lunch if they keep ignoring it.
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This is great news!
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Nice work @jacor! Hopefully this will see another price spike in Bitcoin, dragging along all the other alts with it :-)
Cg
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I am sure many other countries are definitely waking up to cryptocurrencies.
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That sounds great for bitcoin.
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Thanks for the comment @bigbear
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Kiff more south african peeps! I hope this catches on here, there use to be a few places you could use bitcoin, now you can hardly find any. Thanks for the info, and looking forward to more. cheers!
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Pretty sad knowing that something like this will NEVER happen in the United States of America. Especially the Tax part..a pipe dream to say the least..
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Lol, I feel you @chriscrypto , same here in South Africa.
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I could only imagine what the US looks like from the outside in, because from in here, it's one big power controlled, money hungry, unequally balanced, horribly produced reality TV show..
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Time to move to Japan! packing my bag now!
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Hello my dear friend
You are flattered
I gave upvvote this post
Good luck ♥
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How can we get South Africa to be innovative like Japan? I wonder how many of our leaders even knows what bitcoin or crypto currency is?
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Keep on traveling
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