In 2016, Jiang Zhuoer wrote an article saying that 4,000 RMB (yes, RMB) was the beginning of the bull market. At the same time, a newbie paid to ask Sun Yuchen, then "Jack Ma's disciple", whether to buy Bitcoin. Sun Yuchen's answer was: 6,000 RMB is not cost-effective and is not recommended.
Then the time came to May 2017. Bitcoin surged to about 18,000 yuan, and the market was on fire. Lao Mao's Yunbi.com launched the first quantum chain, and the ICO price was about 2 yuan per coin. It surged to more than 50 yuan at the opening, which was more than 20 times higher. This triggered the ICO craze of ETH (which is essentially the same as today's meme craze).
What did Sun Yuchen do at this time? He returned to the cryptocurrency circle, copied the Ethereum code, and issued TRX to deceive leeks, ETH and #BTC. What was the slogan of TRON at that time? It was also quite close to the truth, TRON has many big venues.
Tron did not have any technical accumulation at the time. It simply issued points on ETH first and then copied the Ethereum code. Vitalik Buterin once ridiculed Tron's proof mechanism as proof of copy.
But even though he copied, Justin Sun did two things right.
The first thing was that after the turmoil on September 4, 2017, he quickly left China with BTC ETH (since then he dared not set foot in the mainland again as he was under border control), abandoning his fellow student to take on the mess in China, and launched TRX spot and contracts on Binance, and then accumulated his first pot of gold by controlling both long and short positions on Binance.
The second thing is that Bao Erye helped to get involved in #USDT. USDT was initially issued on the BTC chain, but it took 10 minutes for BTC to confirm a block, which was much slower than Ethereum, so USDT was moved to Ethereum. Later, because Ethereum transfers were too expensive, it was moved to TRX. TRX picked up a treasure in this way.
I personally think these two things have laid the foundation for 99% of TRON's market value today. Then what? Then people forget that#Bitcoinwas originally invented as an electronic currency for money transfer.
Today, many on-chain transfer needs are met by TRX, and in many scenarios, the transfer fee is about $1 per transaction (this actually takes away the cake from Bitcoin miners), and most users can accept it. The only problem is that TRX is not as decentralized as imagined.
I often feel that Justin Sun is the Yuan Shikai of the cryptocurrency world, stealing the low-hanging fruit of the blockchain revolution. Let’s wait and see.
