Re: Bitcoin Japanese exchanges increasing

I read today online that Japanese bitcoin capitalization is more than that of usa! This makes Japan to be the next hub of bitcoin investment.

yes apparently bitcoin users in Japan has increase because over than $1 billion bitcoin transactions in Japan from last month it is prove that Japanese people has very concern to bitcoin and currently there are 13 exchanges available in Japan and i have to says that Growth of bitcoin in that country More rapidly rather than in my country

Another interesting possibility is that Japan could grab the technological lead in Bitcoin, or at least parts of the overall technology.

There are numerous examples of how Japan leads the world in some technologies, one important one that I have seen "in action" is robotics. The USA is almost completely absent from leadership in robotics, the leading robot makers are Japanese and Swedish (some German & Swiss). China is rumored to investing heavily in robotics too.

My point is that Japan could very well capture the heart of many important parts of BTC technology should they wish.

Early adopting countries of bitcoin will definitely have a head start in technology. Japan recently approving of bitcoin could set off an economic arms race for crytocurrency technologies and quickly force other competing economies to adopt bitcoin in fear of falling behind.

Exactly, Other nation will be left out on this technological revolution lead by Japan in they choose not to accept bitcoin. With regards to the exchanges in Japan increasing, it only make sense because they have accepted bitcoin as legal tender. So we will see big, medium and small scale exchanges popping around up to the end of the year in Japan

But did the Japanese government actually legalize Bitcoin as legal tender?

I hope you understand what legal tender means. So did the Japanese government in fact declare they they are going to accept Bitcoin as a means of payment for taxes and public debts as well as other such duties, fees and penalties? Somehow I thought they just agreed to legalize Bitcoin in the same way as other fiat currencies are legal in Japan. If I'm wrong about that, how are you technically going to pay taxes with Bitcoin there? Do they provide the addresses of government wallets to which you can send coins as payment for taxes? And what about exchange rates given Bitcoin insane volatility, as well as the authenticity of tax payers?