Bitcoin Crash Poised to Make Japan Cryptocurrency Leader

In a prior Steemit post, I warned that the South Korea government was making a huge mistake spreading FUD into the bitcoin and broader cryptocurrency market. They backed off a little from their initial furor, which is to their credit.

Now, China, which has never been truly cryptocurrency or blockchain friendly, wants to clamp down on their already restrictive cryptocurrency policies. They want to restrict any and all access to bitcoin and altcoin exchanges, not just Chinese exchanges.

I argued previously that such draconian actions will alienate their own citizens, and push people to cryptocurrency friendly nations. In Asia’s case, this nation is Japan. An even greater incentivize is that Japan is already a bitcoin leader.

These new Chinese crackdowns will only drive more economic activity to Japan!

Chinese news site Sina acknowledged that government crackdowns have sprouted cryptocurrency exchanges in Hong Kong and Japan…Japan! As you know, the Chinese and the Japanese have a long-standing rivalry.

I simply cannot explain why China and South Korea would willingly push more economic activity to Japan, other than to say that for China specifically, they calculate that the opportunities lost from bitcoin is less severe than an outright fiscal outflow panic that would be caused if they allowed Chinese citizens to do whatever they wanted with their money.

It couldn’t be any more clearer – a communist country wants centralized control. A democratic nation allows people economic freedom, and thus at least tolerates decentralized platforms.

Watch this space very carefully…Japan will establish itself as the undisputed cryptocurrency leader over the next few years!