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So what did Justin Sun do at this time?
He returned to the cryptocurrency circle, plagiarized Ethereum's code, issued TRX, and sold this project that looked similar to ETH and BTC to investors.
What was TRONâs slogan at the time?
Although it is a bit of a borderline, it is widely circulated: "The bigger the TRON, the more TRONs there are." TRON had almost no technical accumulation at the time. It simply issued points on Ethereum, and then directly copied the Ethereum code. It was even once ridiculed by Vitalik as the "Proof of Copy" mechanism. In fact, the concept of TRX was originally copied from ETH, and the subsequent application imitated EOS.
But even though he copied, Justin Sun did two things right.
The first incident happened after the September 4, 2017 turmoil. Justin Sun quickly transferred BTC and ETH out of China, and he has never set foot in the mainland since then (because he has been under border control). At the same time, he left the burden of dealing with domestic issues to his fellow senior, and then launched TRX spot and contract trading on Binance. By controlling the market on Binance and making long and short double explosions, he accumulated the first pot of gold in his life.
The second thing is that Bao Erye helped Justin Sun establish a connection with USDT. USDT was originally issued on the BTC chain, but because BTC block confirmation takes 10 minutes, which is far slower than Ethereum, USDT was migrated to Ethereum. However, as Ethereum transfer fees rose, USDT eventually moved to TRX. TRON thus got a big bargain (although the fees for transferring USDT on many networks are now cheaper than TRX, many platforms still only support TRX due to TRX's first-mover advantage). I personally believe that these two things laid the foundation for 99% of TRON's market value today.
However, people seem to have forgotten that Bitcoin was originally invented as an electronic currency for money transfer. Today, many on-chain transfer needs are met by TRX, and the fee for each transfer is about $1 (which actually steals the cake of Bitcoin miners), which most users can accept. The only problem is that TRX is not as decentralized as imagined. Many people think that Justin Sun is simply the Yuan Shikai of the currency circle. He is better at keeping up with hot topics and creating topics than any other Chinese public chain founder. Every day, apart from exaggerating publicity and attracting traffic, he seems to have no other abilities. Combining his name and the shameless operations over the years, some people joked that his final destination may be "Yu" which means prison. The money he made was basically obtained by deceiving and cheating. I hope the US Department of Justice will act soon and send him in.
In the next few years, Sun Ge may face a huge hurdle, and life in prison may be the lightest outcome for him. Let's wait and see.
For those who think I am right, I suggest you pay attention to Marvin the Martian Dog, Muskâs concept meme coin, which is sprinting to Mars and is expected to be listed on Binance soon.
Musk concept meme coin⌠ïž
đžName: Derived from Musk's beloved dog, which he often mentions on Twitter
đžCelebrate his birthday on November 1st every yearđ (emphasis!!)
đžeth is driven by the strongest community, with strong consensus and has passed cg.
The latest Martian dog concept, Marvin the Martian⌠ïž
Musk said in an interview that he would take Marvin to Mars. The expected market value will soon exceed 100 millionâŒ ïž (Look for the genuine Marvin 7055, the others are fake)
Just move your little finger and you may be able to buy a Huawei mobile phone worth 10,000 yuan by the end of the year!!!
