Recently, more than 100 people has participated in what has been seen as the biggest Bitcoin meet-up in Tokyo, Japan. The presence of Roger Ver, the CEO of Bitcoin.com, and jihan Wu, CEO of Bitmain  only makes the meet-up even more influential in the Japanese Bitcoin community. Bitkan, a well-known Chinese company specialized in OTC escrow platform also makes the Japanese community more familiar with China’s situation. 8btc has followed the event and now let’s review the highlights of this meet-up in Japan.

Roger Ver: Bitcoin is at risk of losing its dominance in crypto world

Roger firstly reclaimed his continuous love to Bitcoin for believes that the fast confirmation, low transaction fees and decentralization of Bitcoin brought tremendous economic impacts of Bitcoin on the world, or at least when the block is not as congested as it is now. Roger has long been calling these import features of Bitcoin as Bitcoin’s “economic code”.

Roger said:

“For the first time in the history of the world, anyone can now send or receive any amount of money with anyone else, anywhere, instantly, basically for free, and it is impossible for anyone, including governments, to stop them.”

Then Roger said that due to the network congestion, Bitcoin’s dominance has been challenged by altcoins and thus actions must be taken.

Roger Ver

Wuji Han: There is only one global chain

on the other hand, Jihan Wu, emphasized the legitimacy of scaling by quoting Satoshi’s previous comments:

 “There is only one global chain. The existing Visa credit card network processes about 15 million Internet purchases per day worldwide.  Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost.  It never really hits a scale ceiling. If you’re interested, I can go over the ways it would cope with extreme size.

By Moore’s Law, we can expect hardware speed to be 10 times faster in 5 years and 100 times faster in 10.  Even if Bitcoin grows at crazy adoption rates, I think computer speeds will stay ahead of the number of transactions.”

Jihan Wu

Bitkan: China’s voice 

Bitkan, a company headquartered in Shenzhen, China and China’s first OTC escrow platform, has also made voice of China’s community heard in the meet-up. Ruby Chen, the Market Manager of Bitkan, presented a speech sharing the development of China’s OTC.

“Bitcoin OTC trading volume in China has been up by 20 times in February as Chinese major exchanges were required by PBOC to suspend Bitcoin/Litecoin withdrawal. The trading volume in Bitcoin exchanges are just a tip of the iceberg. There are huge amounts of OTC trading which are unmeasurable in the world and the huge need of OTC trading should not be ignored.”

Ruby has told 8btc that Bitkan has already become China’s most popular app for OTC trading on which Bitkan will guarantee the safety of the trade.

When asked about why Bitkan is interested in a meet-up in Japn, Bitkan said:

“We are just excited that Bitcoin in Japan is becoming increasingly acceptable. Japan’s government will soon begin to recognize Bitcoin as a legitimate method of payment, which will help further enhance the popularity of Bitcoin in Japan further. For some reasons, some people will favor OTC trading rather than exchanges. Bitkan, as fast-developing company, has a global vision to meet the demands of OTC trading worldwide. We look forward to making our contribution to the Bitcoin community. The meet-up in Japan this time is impressive, as we again have felt the enthusiasm of Japanese to Bitcoin.”

 Ruby Chen From Bitkan

8btc has long been following meet-up concerning Chinese Bitcoin community. Please also see Exclusive: Roger Ver Agreed that House of Bitcoin is On Fire in Core’s Meet-up