Note from the CEO: Another day, another new word for bitcoin. We at FintekNews have stressed validation, acceptability and innovation but now we can add respectable. Here is an article that states rich developed countries are deciding bitcoin is on its way to mainstream. Hey everyone, we are talking Japan and Switzerland NOT Venezuela or Zimbabwe. Super cool.
The first few words in this article says “respectable is a prelude to mainstream”. Bitcoin of course needs to be legal, safe and acceptable as it works its way to being mainstream which is happening in Japan and even Switzerland. Not countries with failing currencies or economic conditions, but strong highly developed countries. This is a really good article that puts credence to bitcoin.
“Respectable is a prelude to mainstream. Bitcoin needs to seem normal, legal and safe before it can go mainstream. In this post we look at the signs of that happening in Japan.
Switzerland is another example of a rich developed country where Bitcoin is becoming respectable. Switzerland and Japan also have strong currencies. This is the opposite of the theory that Bitcoin adoption would happen first in countries with failing currencies. Many people were drawn to Bitcoin by dreams of stateless trust based on math replacing more authoritarian governance. So the meme got established that Bitcoin would first go mainstream in countries like Argentina; we debunked that theory here.
Japan is the third largest economy in the world (after America and China), so Bitcoin adoption here is a big deal.
Japan is where we go for some of the early history of Bitcoin. Magic The Gathering Online Exchange became MTGox. From trading cards beloved by nerds, they went to trading a currency beloved by nerds. When MTGox went bust and lots of people lost lots of money, it became a byword for the lawless dangerous world of Bitcoin.”