Bitcoin knows no borders

I have sold handmade Bitcoin-themed goods to people in more than 10 countries using Bitcoin payments.

Through that experience, I have come to see Bitcoin as convenient money that knows no borders.

The biggest reason is that Bitcoin allows people from different countries to transact using the same unit: sats.

For example, I am Japanese and live in Japan, but I often sell my products to customers in South Korea. If I list my prices in Japanese yen, I think it would be difficult for Korean customers to immediately understand how much something costs.

One option would be to display prices in Korean won. However, if I sell to people in South Korea, Vietnam, South Africa, and many other countries, I would need to constantly adapt my prices to different currencies. That would be very difficult for me as a small independent creator.

I also considered using U.S. dollars. But in countries like Japan and South Korea, dollars are not a currency that people use in their daily lives, so it did not feel like the best solution.

With Bitcoin, however, I can simply write a price such as "21,000 sats."

People who are interested in Bitcoin generally understand sats, and Bitcoin enthusiasts can be found all over the world. In fact, more than 90% of my sales come from customers outside Japan.

Of course, some people might say that pricing goods in Bitcoin is difficult because Bitcoin's price fluctuates.

While Bitcoin's volatility has become lower than it was in the past, it is still true that the price can move significantly. Personally, though, I do not worry too much about Bitcoin's price fluctuations.

The reason is that handmade products are not a business where there is only one exact price that works. Handmade creators constantly experiment with pricing, adjusting it based on their own experience and circumstances.

Because I work in that environment, I have learned to accept Bitcoin's price fluctuations as part of the process.

That said, I do think it would be easier to run my business if Bitcoin's price became more stable, and I hope that stability will continue to improve in the future.

I realize that this view may be a minority opinion. At least in Japan, very few Bitcoin supporters seem to hope for price stability.

I understand why many people see Bitcoin primarily as an investment asset and view its volatility as one of its attractions.

However, I am not an investor.

I do not spend my time hoping that Bitcoin's price will skyrocket, nor do I hope that it will crash.

I believe that, in the future, Bitcoin may become known not only as an investment asset, but also as money that people actually use.

There is one more thing I should mention.

I do not currently HODL Bitcoin.

The reason is simple: in Japan, managing Bitcoin taxes as an individual merchant is extremely complicated.

One possible solution would have been to establish a corporation and manage Bitcoin through a company structure. However, for a small one-person handmade business like mine, creating a corporation was not a realistic option.

I never owned a large amount of Bitcoin to begin with, but because of the tax burden and accounting requirements, I no longer hold any Bitcoin today.

Some people may say that I have surrendered to government regulations. Perhaps that criticism is fair.

But this is also the reality of operating as a small independent business owner in Japan.

Although I only accept Bitcoin payments, I still need Japanese yen to purchase materials and ship products. As a result, I convert the Bitcoin I receive into yen shortly after each sale.

For a long time, I felt uncomfortable admitting that I do not HODL. I assumed that many Bitcoin investors would criticize that decision.

However, after learning about projects and communities from many different countries, I realized that I am not alone.

There are many people around the world who use Bitcoin as a tool, not simply as an investment.

Because of that, I can now confidently say that I do not HODL Bitcoin.

Unfortunately, I do not believe Bitcoin payments will become widespread in Japan anytime soon.

When someone spends Bitcoin to buy a product or service in Japan, that transaction can create a taxable event. This means additional record-keeping and tax calculations are required.

Imagine buying a single cup of coffee with Bitcoin.

You may need to know the acquisition price of your Bitcoin, compare it to its value at the time of payment, calculate any gain, and then report that information during tax season.

For most people, paying in yen is simply more practical.

That is one reason why I focus on selling my products internationally rather than within Japan.

Bitcoin is borderless money.

If it is difficult to build a Bitcoin-based business inside Japan, then it makes sense for me to connect with people in other countries instead.

I also hope that if Bitcoin payments become more common around the world, Japan may eventually reconsider its tax treatment of Bitcoin.

If that happens, perhaps my small business can serve as one example of how Bitcoin can be used in everyday commerce.

At present, many people in Japan still view Bitcoin as something suspicious.

I think there are people around the world who feel the same way, but in Japan there is also a significant number of people who have a negative view of investing in general.

Some people grew up during a time when bank deposits paid meaningful interest. They were taught that saving money in a bank was the responsible thing to do.

Some even view investing as an attempt to make money without working for it.

Because of this, discussions about investing are often avoided. Personally, I have almost never talked about investing with the people around me.

Since Bitcoin is primarily known in Japan as an investment asset, many people conclude:

"Investing is suspicious."

"Bitcoin is an investment."

"Therefore Bitcoin must be suspicious too."

At least, that is how I think many people see it.

Even members of my own family think Bitcoin is suspicious, and they dislike it.

Still, I continue this work because I want them to understand one simple thing:

Bitcoin itself is not a scam.

My goal is for my family to understand that Bitcoin itself is not a scam.

And if my work can become a small example that helps people understand how Bitcoin can function as borderless money, then I would be very happy.

Note: This article is based on the content of a video published on my YouTube channel.