Re: [2017-4-02]Bitcoin Tops $1100 As Japanese Payments Law Goes Into Effect
I'm not sure that a surge in Japanese consumers has actually resulted in that much of a surge in demand. Maybe a little bit, but I think the balance of skepticism and optimism with a hard fork has been the main factor for a while and might continue to be. I don't think that too many Japanese people are going to think, "Wow! I have to register my identity on exchanges now! I'd better buy some Bitcoin! So, what's the best exchange nowadays? Mt. Gox?"
I hope the Japanese will use bitcoin in their purchase. That will provide support to the bitcoin.
In order for Bitcoin to be used as payment tool on a large scale, it must offer a significant better usability experience when it comes to buying goods locally. As long as that isn't the case, people will prefer to pay with their fiat currencies. That's why I believe the implementation of Lightning Network will push Bitcoin closer to competing with fiat on local level.
Yes, SegWit & LN will definitely be needed for this to go mainstream in Japan. It only takes 1 bad experience for a new user to turn them
against this technology. I have had a personal experience where I introduced someone to Bitcoin and they made a transaction in a time where
one of these spam attacks was done.... the person had to wait 2 hours for his transaction to confirm and they abandoned Bitcoin because of
that.
