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Japanese Can Soon Pay Their Utility Bills with Bitcoin
11–20 of 125 posts
Re: Japanese Can Soon Pay Their Utility Bills with Bitcoin
#12Earlier quoted context omitted.
It would be convenient if you have an income or savings in Bitcoin. Some people are attracted to using Bitcoin as a day to day currency and payments system, to reduce their dependence on mainstream banking. The "be your own bank" philosophy. Admittedly right now Bitcoin seems like a novelty, but it will never reach wider use without small "pointless" steps like this.
> Some people are attracted to using Bitcoin as a day to day currency and payments system, to reduce their dependence on mainstream banking. The "be your own bank" philosophy. Japan is, at least to my understanding, one of the last countries to develop such a mindset in the mainstream.
So the originators name Satoshi Nakamoto hasn't inspired more bitcoin adoption in Japan than elsewhere?
Re: Japanese Can Soon Pay Their Utility Bills with Bitcoin
#13Earlier quoted context omitted.
> Some people are attracted to using Bitcoin as a day to day currency and payments system, to reduce their dependence on mainstream banking. The "be your own bank" philosophy. Japan is, at least to my understanding, one of the last countries to develop such a mindset in the mainstream.
Ah, that is very interesting. I am not knowledgable about Japanese culture, so my answer was addressing "why pay with Bitcoin" generally.
Japanese culture is so hard to predict when it comes to tech uptake - you see an 80-year old man play with his Nintendo DS at the bus stop, Kyoto City is covered by free Wifi, Internet is fast and cheap, but the ATM closes down at 6pm and your hotel room advertises free fax (which you may actually end up needing)
Re: Japanese Can Soon Pay Their Utility Bills with Bitcoin
#14What is the advantage of this? Here in Japan every creditcard is giving you some kind of bonus program and encourages you to use that card for your bills so you automatically aggregate amazon / rakuten (japanese amazon competitor) / ANA / etc points. I mean, I guess I could exchange every month my yen into bitcoins and then pay with it, but why?
It would be convenient if you have an income or savings in Bitcoin. Some people are attracted to using Bitcoin as a day to day currency and payments system, to reduce their dependence on mainstream banking. The "be your own bank" philosophy. Admittedly right now Bitcoin seems like a novelty, but it will never reach wider use without small "pointless" steps like this.
It would be convenient if you have an income [...] in Bitcoin.
Miners, drug dealers, and who else exactly?
Re: Japanese Can Soon Pay Their Utility Bills with Bitcoin
#15What is the advantage of this? Here in Japan every creditcard is giving you some kind of bonus program and encourages you to use that card for your bills so you automatically aggregate amazon / rakuten (japanese amazon competitor) / ANA / etc points. I mean, I guess I could exchange every month my yen into bitcoins and then pay with it, but why?
I'll take a trustless payment system any day, to hell with plastic.
Re: Japanese Can Soon Pay Their Utility Bills with Bitcoin
#16A friend of mine who lives in Tokyo told me that in Japan it's near impossible to transfer money from one bank to another. He told me the way Japanese people transfer money between banks was to draw the cash out in one and pay it in to another. I'm prepared to be corrected if this tale isn't true.
However, with this in mind, it seems like quite a leap from a non-electronic intra-bank system to Bitcoin. On the other hand, it may be the poor banking system that's created this.
Re: Japanese Can Soon Pay Their Utility Bills with Bitcoin
#17> The service is the first of its kind in Japan, where Bitcoin is still a novelty in daily consumer life. Where is Bitcoin not a novelty in daily consumer life?
Definitely not a novelty. Lots of people use it to pay for ransomware.
Re: Japanese Can Soon Pay Their Utility Bills with Bitcoin
#18What is the advantage of this? Here in Japan every creditcard is giving you some kind of bonus program and encourages you to use that card for your bills so you automatically aggregate amazon / rakuten (japanese amazon competitor) / ANA / etc points. I mean, I guess I could exchange every month my yen into bitcoins and then pay with it, but why?
It would be convenient if you have an income or savings in Bitcoin. Some people are attracted to using Bitcoin as a day to day currency and payments system, to reduce their dependence on mainstream banking. The "be your own bank" philosophy. Admittedly right now Bitcoin seems like a novelty, but it will never reach wider use without small "pointless" steps like this.
It would be convenient if you have an income or savings in Bitcoin.
Wait, people save money in Bitcoin? If they are saving Bitcoin hoping it will go up in price, then why are they spending Bitcoin, instead of just Yen?
Re: Japanese Can Soon Pay Their Utility Bills with Bitcoin
#19A friend of mine who lives in Tokyo told me that in Japan it's near impossible to transfer money from one bank to another. He told me the way Japanese people transfer money between banks was to draw the cash out in one and pay it in to another. I'm prepared to be corrected if this tale isn't true. However, with this in mind, it seems like quite a leap from a non-electronic intra-bank system to Bitcoin. On the other h…
In my experience (10 years living in Japan) it's actually extremely easy to do bank transfers, so easy that actually many people use bank transfer to pay for online purchases. It does cost a bit though (from ~100 to ~600 Yens depending on the amount, time of day, and size of banks involved), and the sender has to pay that amount, not the receiver. That makes it an even bigger incentive for sellers to accept this way of payment.
Re: Japanese Can Soon Pay Their Utility Bills with Bitcoin
#20A friend of mine who lives in Tokyo told me that in Japan it's near impossible to transfer money from one bank to another. He told me the way Japanese people transfer money between banks was to draw the cash out in one and pay it in to another. I'm prepared to be corrected if this tale isn't true. However, with this in mind, it seems like quite a leap from a non-electronic intra-bank system to Bitcoin. On the other h…
Well as you suspected that is not true. Maybe your friend doesn't understand his bank interface? If anything the Japanese use bank transfer(furikomi) more than in the west because credit cards are less used.