Do you know about virtual currencies? graph of japanese statistics

The company Bird, who sell the virtual currency New Century Currency, and the tax accountants Meijidori, together run seminars on tax reduction, presumably including information on tax issues surrounding virtual currencies like Bitcoin. Thus, they jointly sponsored a survey by iResearch into buying and using virtual currencies.

I personally wouldn’t touch Bitcoin with a barge-pole, and as a regular reader of /r/Buttcoin and its sister sub-reddit /r/SorryForYourLoss I know all too well of the scam artists and frauds that infest the virtual money world.

Research results

Q1: Do you know about virtual currencies? (Sample size=6,930)

Know them well (to SQ) 3.5%
Know them (to SQ) 17.1%
Just heard the term 50.5%
Don’t know about them 28.8%

Q1SQ: Are you interested in purchasing or using virtual currencies? (Sample size=1,431)

Yes 37.0%
No 63.0%

Q2: Why are you interested in buying, using virtual currencies? (Sample size=300, multiple answer)

Can use the same currency the world over 32.0%
Can send money to other people with no or little fees 28.0%
Been a theme on news, etc 27.3%
Can cheaply and easily exchange it with dollars, Euro, yen, etc 26.3%
Can use with e-commerce 24.0%
The number of physical locations worldwide where it can be used is increasing 22.3%
Is an investement 19.0%
Much cheaper for international transfers 18.0%
Interested in BlockChain technologies 14.7%
Interested in the FinTech field 13.7%
Cheap and easy to exchange between virtual currencies 13.0%
Can protect my assets against hyper-inflation, other financial crises 12.7%
Can reduce tax (hide assets from tax, etc) 12.7%
Laws surrounding the use of virtual currencies have been amended 12.0%
Don’t want to miss out 4.3%

Q3: In the last year have you bought or held virtual currency? (Sample size=300)

Both bought and held (to SQ1) 23.7%
Neither bought nor held (to SQ2) 71.7%
Have bought, held, but not recently (to SQ3) 4.7%

Q3SQ1: How much in Yen are you currently holding in virtual currencies? (Sample size=71)

Under 10,000 yen 14.1%
10,000 to 49,999 yen 23.9%
50,000 to 99,999 yen 14.1%
100,000 to 499,999 yen 23.9%
500,000 to 999,999 yen 11.3
1,000,000 to 4,999,999 yen 7.0%
5,000,000 to 9,999,999 yen 2.8%
10,000,000 to 49,999,999 yen 1.4%
50,000,000 to 99,999,999 yen 0.0%
Over 100,000,000 yen 1.4%

Q3SQ2: Why do you not buy, hold virtual currencies? (Sample size=215, multiple answer)

There have been Mt Gox and other frauds 30.7%
Lots of virtual currency fraud, other negative news stories 25.6%
Has dodgy, shady, otherwise bad image 25.6%
Don’t know how to buy 25.1%
Don’t think now is the time to buy 25.1%
Don’t need to deal with virtual currencies 21.4%
There are lots of overseas exchanges, so it would be unsafe to buy 14.9%
Probably lose, won’t make money 14.4%
Don’t have friends, family who have dealt with virtual currencies 13.5%
Other 0.5%

Q3SQ2: Why have you quit buying, holding virtual currencies? (Sample size=14, multiple answer)

There have been Mt Gox and other frauds 42.9%
No longer need to deal with virtual currencies 28.6%
Lots of virtual currency fraud, other negative news stories 28.6%
Few shops, sites where they can be used 21.4%
Has dodgy, shady, otherwise bad image 21.4%
Price has dropped, I lost money 14.3%
Purchasing methods have become more strict, bothersome 14.3%
Don’t think now is the time to buy 14.3%
Inconvenient compared to other payment methods 7.1%

Q4: Which of the following virtual currencies do you know? (Sample size=300, multiple answer)

Bitcoin 96.7%
Ripple 23.7%
Ethereum 22.3%
Litecoin 17.7%
fujicoin 13.0%
Peercoin 12.0%
monacoin 10.3%
Dogecoin 10.3%
samuraicoin 9.7%
Stellar 9.7%
Dash 9.3%
BitShares 9.0%
MaidSafeCoin 8.7%
eternal coin 8.3%
Factom 6.0%
NEM 5.7%
Satoricoin 5.7%
Monero 5.0%

Q5: In the future, which of the following virtual currencies would you like to buy, interested in, want to use? (Sample size=300, multiple answer)

Bitcoin 87.3%
Ethereum 13.3%
Ripple 11.3%
Litecoin 8.7%
fujicoin 7.7%
Peercoin 5.3%
samuraicoin 5.3%
BitShares 4.7%
Stellar 4.7%
monacoin 4.3%
MaidSafeCoin 4.3%
Dogecoin 4.0%
Dash 3.3%
Satoricoin 3.3%
eternal coin 3.3%
NEM 2.3%
Factom 2.0%
Monero 1.7%

Q5: In the future, which one of the following virtual currencies would you most like to buy? (Sample size=300)

Bitcoin 82.3%
fujicoin 3.0%
Ethereum 2.7%
Ripple 2.7%
Peercoin 1.7%
samuraicoin 1.3%
MaidSafeCoin 1.0%
Litecoin 0.7%
Stellar 0.7%
Satoricoin 0.7%
monacoin 0.3%
eternal coin 0.3%
Dash 0.0%
Dogecoin 0.0%
NEM 0.0%
Factom 0.0%
Monero 0.0%
BitShares 0.0%

Q6: Where do you use, would you like to use virtual currencies? (Sample size=300, multiple answer)

  Want to Most want to
Internet shopping 51.3% 34.3%
Exchange 35.7% 17.0%
Receiving, making payments, overseas money transmission 33.7% 12.0%
Physical shops 27.0% 8.0%
ATM 25.7% 5.3%
Cafe 17.7% 4.0%
Ramen shop 17.3% 3.7%
Sushi shop 16.0% 2.0%
Yakiniku (grilled meat) restaurant 13.3% 1.3%
Corresponence courses 12.7% 1.7%
Donation 11.3% 2.0%
Dentist 9.7% 1.3%
Hairdressers 8.0% 0.7%
Veterinarian 7.0% 1.0%
Beauty clinics 7.3% 2.0%
Schools 6.0% 0.3%
Acupuncturist, chiropractise 5.7% 0.7%
Izakaya (dining pub) 13.0% 1.7%
Bar 8.0% 0.7%
Other 0.3% 0.3%

Q7: Have you ever attended seminars, study meetings, etc on virtual currencies? (Sample size=300)

Yes, often (to SQ) 9.7%
Yes, sometimes (to SQ) 19.7%
No, never 70.7%

Q7SQ: Were these seminars, study meetings, etc useful? (Sample size=88)

Yes, very much so 35.2%
Yes, somewhat 59.1%
No 5.7%

Q8: What do you think the future holds for virtual currencies? (Sample size=300)

Will become as common as credit cards, electronic cash 35.3%
Awareness will grow, but it will have limited application 26.3%
Once regulations are in place, it will eventually become commonplace 23.0%
Will stay a niche application 10.0%
Will just peter out 5.0%
Other 0.3%


Between the 12th and 16th of May 2016 6,930 members of the iResearch monitor group aged between 20 and 69 completed a private internet-based questionnaire. Of the approximately 530 people in Q1SQ who answered that they were interested in or had already bought virtual currencies, 300 were selected to answer the subsequent questions.


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.