Re: Japan ends 8% consumption tax on bitcoin Today

Good BOOST for monday.

The boost won't be that big. Japan still isn't the leader in trading. Also, somebody should investigate how their Bitcoin businesses are really doing.
I suspect there could be big interest in the currency but only out of curiosity and very little real use.

Last time I heard, Japanese were all over bitcoins. They were buying like hell and also that the bitcoin price in Japanese exchanges was pretty higher than the other exchanges.

I heard rumours some Chinese whale traders switched to using Japanese exchanges after the Chinese government froze withdrawals on the Chinese exchanges. If that's true the end of the 8% consumption tax could be very bullish.

As I understand the Chinese exchanges have already resumed withdrawals on May 31, so those rumors might only be that, just rumors.

From what I read they are only allowing small withdrawals that are no use to whale traders. I think it might be 10 Bitcoins a day with a maximum of whatever a million dollars a year is in yuan.