HomeTechnologyThe benefits of Bitcoin and the current prevalence

The benefits of Bitcoin and the current prevalence


One of the generally accepted advantages of Bitcoin is that payment fees are low. For overseas remittances, Japanese banks will charge 4,000 to 8,000 yen, tens of thousands of yen, and about 1% of the exchange fee. For example, in the case of remittance of 100 million yen, it is calculated that a fee of 1 million yen or more will be charged. On the other hand, with Bitcoin, there is no concept of international money transfer, so you can send money at a fee of 20 to 100 yen both domestically and internationally, and ultimately you can make the fee free. It can also play a role like an international currency, so once you have your money in bitcoin, you don’t have to convert it to another country’s currency. Currently, there are about 200 kinds of virtual currencies, but Bitcoin has 95% of the market share. So Bitcoin is the current winner of cryptocurrency. Bitcoin value record in the future If the sphere (measuring the value of goods with bitcoins) is established, it is possible to sell and purchase everything in coins and to do business without any cash.

General consumers will also be able to receive salaries in Bitcoin and make payments in Bitcoin. If the use spreads to this extent, the advantages of Bitcoin such as settlement fees, remittance fees, free from exchange fees, currency internationality and anonymity will take shape. In Japan today, it is difficult to recognize the merits peculiar to Bitcoin because the Japanese Yen has international credit. However, in developing countries, bitcoin is often more stable than its own currency. Demand for Bitcoin can be expected in these countries. The current spread of Bitcoin is about 800 billion yen in issuance. The upper limit for issuing Bitcoin is set to 21 million coins, and currently 25 coins are newly issued by mining once every 10 minutes. The mining half-life of the bitcoin supply pace is 4 years. And while the supply pace gradually decreases, the total number of coins issued is asymptotic to the upper limit of 21 million coins. Bitcoin is not yet widespread in Japan. Given this situation, we would like to make Bitcoin somehow popular.

It is easy to convert bitcoin-southafrican-system, if use proper techniques and follow the rule of bitcoin. One can also take advice from expert how to change small amount to millions.

Legal regulation of Bitcoin

This is a fairly difficult topic. It is always a matter of debate as to whether or not laws should be regulated when new businesses emerge, not limited to Bitcoin. And in these issues, it cannot be unequivocally said that operators should not have regulations. Businesses that are free to do anything often follow the path of decline.

There is an analogy that if you graze sheep freely in the pasture, the grass will be depleted and the sheep will die. In general terms, regulation is not necessarily a bad thing. Especially in the case of Bitcoin, it is my personal opinion that regulation is better. We believe that if we do not continue to regulate it, it will be virtually impossible to continue business. Specifically, money laundering, international credit for payments and unchecked issues like these can leave consumers vulnerable to fraud. Just as there was a fraud case in which the currency of the Iranian dinar was sold at a price 100 times the rate, there is a large risk that a company will aim to trade at a price far from the rate, targeting ignorant consumers. , For example, in the virtual currency of Ripple, there are already traders who trade at a price 10 times the market price. However, it is difficult to immediately condemn these acts as illegal, because these actions are also established as business as long as there is an agreement between the parties. So, in general terms, many people find it desirable to protect consumers by some degree of regulation. However, at present, the Japanese government has issued guidelines to forgo the regulation of Bitcoin. Therefore, we are responding in the form of self-regulation between businesses.

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