Bitcoin Cash (BCH) Payments to be Accepted at Japan’s Gem Castle Yukizaki Luxury Watch Store
The recent sluggishness in prices has impacted everyone, from the flagship coin like Bitcoin to newbies like Dash green. However, no one has had it as rough as BCH. There was the expected bear run after the prices had reached its Zenith in January 2018. When the prices had apparently stabilized in the mid $6000 price range, the coin decided to conduct its hard fork. The internet is already littered with stories of how amiable that whole saga was. The end result, a hash war that started just as crypto assets started another downward trend. This incredibly bad timing saw its value plummet from around $600, in early November, to $126 at the time of writing.
Watch Out for The Options
However, the new year has brought new hope for this flaying industry. Recently a slew of companies have registered their interest in trialing cryptocurrencies; this has seen an up-tick in the usage of BCH as well. Now an entrepreneur and leading BCH backer, Roger Ver has expanded on these opportunities. It was recently announced that a major watch dealer in Japan will soon begin to accept payments in BCH tokens.
In this recent tweet he noted, “One of the biggest and fanciest watch shops in all of Japan wants to start accepting Bitcoin Cash for their watches. Send the owner a tip to show your support!”
One of the biggest and fanciest watch shops in all of Japan wants to start accepting Bitcoin Cash for their watches. Send the owner a tip to show your support!
— Roger Ver (@rogerkver) January 25, 2019
Renewed Faith in BCH
After the spate of bad news around Bitcoin Cash last year, there has been more positivity surrounding the performance of the coin. With over 900 retail outlets now accepting BCH coins as payments for goods and services, they aren't doing too badly. This is despite the fact that the cryptocurrency is not even considered very popular.
The renewed acceptance has been attributed to a resurgence in business confidence and the fact that BCH enables micro-transactions, with low fees. This makes it easy to process inexpensive transactions at negligible costs.
Top Crypto Destination
On top of that, this is another example of Japan embracing the nascent industry. The techno wonderland has been doing everything they can to boost crypto involvement in the country. Its regulatory framework makes such ventures both possible and probable. Thus, not only BCH but also Ripple, with its payment services, have been making significant headway in the Japanese market. Along with that, some Japanese businesses have now started to offer the option of employees receiving their salaries via crypto assets.
With its slow yet continuous improvements both in terms of the programming and the asset value, this is a positive development for the digital coin. The fact that this is happening in Japan, a market sympathetic to the Crypto cause, makes this easier for BCH as it tries to regain the market trust it had prior to the debacle of November. Whether this is just a footnote in history or a stepping stone to bigger things, only time will tell.