Bitcoin Japan – Japan is fast becoming the powerhouse of the bitcoin market
Bitcoin Japan – On 29th September 2017, a decision by Japanese authorities is helping the country cement its place as a driving force for bitcoin, at a time when China is turning its back on virtual currencies. Since April 1 this year, as the world market value of bitcoins and other cryptocurrencies has surpassed over $50bn, a growing number of online exchanges, funds, and remittance companies have been scrambling to make formal registrations with the Japan Financial Services Agency. The registrations process is expensive, demanding, laced with invisible tripwires and not all applicants, by any means, will be successful.
Bitcoin Japan -Japan’s Financial Services Agency (FSA) officially recognized 11 companies as registered cryptocurrency exchange operators. bitFlyer, One of the registered companies has more than 800,000 users, according to the firm. The company’s CEO, Yuzo Kano, said the new rules cement Japan’s position as the epicenter for bitcoin trading “Japan has been exploding with demand for both bitcoin trading as well as virtual currency services,” Kano said in a press release 29th September 2017 . This is the latest decision in Japan to show support for digital currency.
Bitcoin is the largest and best-known digital currency moreover its peers pose a threat to the established money system by effectively circumventing it. Money as we know it depends on the authority of the state for credibility, with central banks typically managing its price and/or quantity. Cryptocurrencies instead rely on their supposedly unhackable technology to guarantee value.
Why Bitcoin Price Will Continue to Increase to $10,000 Despite Recent Correction
At the time, the majority of users, traders and investors still remained skeptical toward the ability of the Bitcoin Core development team’s transaction malleability and scaling solution Segregated Witness (SegWit) to efficiently scale the Bitcoin network.
In late August, ahead of the price correction of bitcoin brought on by the People’s Bank of China, the country’s central bank’s ban on initial coin offerings (ICOs), many financial analysts such as Max Keiser increased their interim price target from $5,000 to $10,000.
At the time, the majority of users, investors and traders nevertheless remained skeptical toward the ability of this Bitcoin Core development group’s transaction malleability and scaling solution Segregated Witness (SegWit) to effectively scale the bitcoin network.
Over the previous two weeks, the bitcoin community and industry have seen drastic change in the bitcoin network. For SegWit-enabled wallet and transaction users, around 30 to 50 percent reduction in fees has been imposed, and the development teams of widely-recognized non-custodial bitcoin wallet systems like GreenAddress consider the reduction rate of bitcoin fees could surpass the 50 percent mark in the upcoming months.
Bitcoin japan – Over the past two weeks, the community and industry have seen drastic change in the bitcoin network. The size of the Bitcoin mempool has decreased from 150 to 6 million bytes and Bitcoin blockchain congestion has been relieved. For SegWit-enabled wallet and transaction users, around 30 to 50 percent reduction in fees was imposed, and the development teams of widely-recognized non-custodial Bitcoin wallet platforms such as GreenAddress believe the reduction rate of Bitcoin fees can surpass the 50 percent mark in the upcoming weeks.