Bitcoin Forum

Just like the title, in my country, Japan, I think people are leaving blockchain scene believing that there's no future.
In Korea, on the contrast, people are waiting for the listing of the KLAY, the token made by Klaytn.
Which is the real??

When the price of Bitcoin and other top cryptocurrencies like ETH goes down by 10-20% and it doesn't recover for at least a couple of weeks, it does start to affect the schedules of their project. Last year when I was still in a bounty campaign they suddenly extend the duration of the campaign and this was the time when Bitcoin was somewhere between $4,000 their reason was to give the price some time to recover.  

I think the decline of bitcoins will have a little / much impact on new projects. But the value of this new coin will be based on real needs, tested over time with more positive and growing news as bitcoin and the market recover. This, they need a solid foundation, efficiency and early product development. Because bitcoins can explode huge amounts as expected to break the record price right in 2020.

I was watching a video from Japan that's made by Asian Boss and saw a bill board of bitcoin so I'm quite shock to see and can't believe that it's truly happening in Japan. And is that for real in Japan?

If it's about your title, yes the falling of bitcoin price might affect the projects. Actually, I've seen projects that can't go on last year because they can't consider the price of bitcoin as good to go.

Ya it is obvious that btc price will play dominant role in altcoin price as price is manipulated and it has become a big issue , ico funding has become worse year by year , even good project are not getting fund from investor as btc undergo pumps and dumps and that scared them to invest in current market. IEO might improve funding chance in the future.

I think Japan is one of the country who are working towards to implement blockchain payment system in their country so I don't understand why you were saying that japan leveing projects?

Price fall in bitcoin does affect on the prices of altcoins most of the time but not always to be honest.

Yes. It affects quite a lot. It can be seen as typical as 2018. When the BTC dump and Altcoins are also dump; ICO projects failed a lot. The BTC affects the entire Crypto market.

bitcoin and its has absolutely no effects on other "projects". but when there are no real projects and all we have are pump and dumps that are created to feed the bitcoin traders, they all get dumped hard as bitcoin has  a small drop.

otherwise any real projects that may exist out there are doing their own thing.
and in most countries including and specially Japan there is a lot of growth in bitcoin adoption and consequently in adoption of blockchain technology.

Anything that affects Bitcoin will affect other alternative coins in terms of price. Most project will fall off from the cliff immediately the price of Bitcoin fell up to 20%. Bitcoin is like the king in the crypto space which most of the time determine the price of others.

I don't think Japanese people are leaving blockchain since in the first place their government supported it. Maybe there are people who do not understand very well the essence of the cryptocurrency and how it is too fast to change it's volatility everyday.

Korea's Kakaotalk blockchain business with their new ICO project called CLAY/KLAY might seems to be interesting to some users since they were offering a 90% growth in a certain market that's why people are acting like that.

That happened because its dominance is really big right now. I do believe that if this continues then it could be really difficult for alts to grow. Looking at the marketcap, it's clear that alts have tried to break out from Bitcoin dominance but failed, however, they should eventually break it if BTC keep rising and stabilizing just like the previous bull run.

Well, currently it's certainly the case that Bitcoin's price has a rather large effect on the prices of other coins.
That said, this might not always be the case in the future. It's certainly possible that another coin, like ETH for example, takes over Bitcoin's position as main trading pair to other cryptocurrencies.

Quite a lot of exchanges are already using other coins as main trading pairs, but Bitcoin is still very much dominating in that regard.

yes there is a possibility that other projects ( token/alts ) can fall when bitcoin's value is falling and infact it did happen several times before  .however there were times that btc falls but other projects were still stable and continue to increase on thier own  .  


you said people on japan are leaving the blockchain scene but your still asking if what is real ? japan is a well develop country and blockchain/cryptos is a perfect fit to thier economy as it adds more invotation so i dont think they would quit  .  same as with korea  but i dont know if what is klay/klaytn your talking about  .

Bitcoin was used as the basis of this market so whenever bitcoin falls alts  value also followed, and since everything is according speculations
most of those alts suffered when bitcoin falls as those panic sellers adding the pressures instead of keeping their assets onhold they tend to sell it back to bitcoin to cash it out to fiat.

The price of Bitcoin effects the entire market and nobody can deny that. When Bitcoin goes down it brings down 90% of all alts as well.
I doubt people in Japan have such a negative opinion about the blockchain. They can think whatever they want about a particular cryptocurrency but the blockchain technology is revolutionary and even those who are against crypto are not trying to deny that.  

Most of the time when bitcoins price tends to go down it all drags down most of coins in the market but not all cases because there were projects tend to go up no matter whats the current condition overall.

I dont have much knowledge about that KLAY thing and can you verify or give links about such news for japan leaving blockchain?

I have invested both time and money in two projects that were well publicised on net but as at today there are at loss of 93 to 95% loses. Since listed in an exchange last month and the listing was done when bitcoin was in a bullish trend. The projects have to find a way were emotions around bitcoin should not affect there price if not some of them will not be in existence in some years to come.

Yes, it is already observed that the fall of the price of Bitcoin affects the prices of the altcoins. Bitcoin is the most famous, used cryptocurrency right now around the world, and it is normal that its volume and market affect the whole crypto market, that is why even when the BTC price increase we see that most altcoins go up too.

I don't think the fact that Bitcoin is the most famous is the reason why it's dominance is so great. IMO it's the fact that most coins/tokens pare paired with BTC and because a lot of those project doesn't produce any real product yet, is the reason why their price could be easily moved by BTC movement.

Most ICOs don't have the actual product now, still on test net or development phase or whatever, except for a few.

Because bitcoin has been used to determine the real price of the whole altcoins, any movement in the bitcoin price even a few percent will give a huge impact to the whole of altcoin. Some have tried to leave from the bitcoin domination but they can't and for me the domination of bitcoin to the whole of crypto and project can't be replaced.
This just like a rule in the crypto when a new coin must use bitcoin to determine its price even some projects were using stable coin still can't leave from the bitcoin's effect.

the decline in bitcoin prices greatly affects the ico sales that have already taken place and often the ongoing programs or projects often provide a very long duration to wait for the moment the investors begin to return. in my opinion the price of bitcoin greatly affects the crypto market and the ico sales program

There were lots of platforms do exist though and we can see it on the top rankings but still most of the or all do tied up with BTC pairing.So if there's a fall on bitcoins price and
due to Bitcoin dominance is too big compared to combined percentage of altcoins then its just normal to see that the entire market would be heavily affected.
There might be some projects can stand up but they would still be dragged down.