TRON (TRX) is one of those altcoins that has a polarizing quality – people either love to trash talk this coin, or they will defend it to their death. The global fan base of Tronix has a heavy social media presence, especially on Reddit, and things can get pretty heated online.
The people who are mercilessly exercising their HODL muscles with their Tronix are super optimistic about this coin, and can get pretty salty pretty quickly if you ever express your doubt that TRON is going to change the world. Just browse through this coin’s Reddit page to get a sense of what I’m talking about.
On the flip side, there are a ton of people that hate this cryptocurrency – and flat out consider it a scam (more often called a “shitcoin”). And, when you look even a slightly hard at this project, it’s not clear how this is going to be more groundbreaking and unique than Stellar (XLM) or EOS (EOS) – just to give two examples.
So, why do are some people so convinced that Tronix is a shitcoin?
People throw a lot of dirt at Tron (TRX) online
This coin gets some pretty brutal hatred on social media outlets. People lump it into categories along with Ponzi-scheme coins direct imitations of other coins. Check these posts out:
Worthless projects in @CoinMarketCap top 100:
#14 Tron (vapourware, plagiarized whitepaper)
#35 Veritaseum (centralized ponzi)
#49 Hshare (0-value-add centralized $DCR direct clone)
#56 Dentacoin (blockchain dentists w 8 trillion coins)
#57 Electroneum (centralized, oversupplied)
— notsofast (@notsofast) February 3, 2018
Oh, and this one:
Someone please tell me why and how Tron is claiming to have 30 million users on its network when I'm not even sure bitcoin and Ethereum have 30 million active users. pic.twitter.com/Nqv9mxUXmh
— Joseph Young (@iamjosephyoung) February 5, 2018
And a lot of disputes like these:
You need to cut it out. And give us facts. As an investor in your tech. I think i speak for us all, that you need to start showing facts. No more shadow games. No more ground hog games. We need to see whats up, if not people will sell out.
— TheNewYorker (@xThe_New_Yorker) January 20, 2018
The founder is a misleading hype man
TRX is a total total shitcoin. It has risen only once ….. And some insider, probabely Justin himself, shorts it everytime it is expected to breakout….bigtime whales in Game…thats why even David gokhstein has also stopped tweeting about it…
— NAVEEN SEHRAWAT (@navianvils) January 20, 2018
People are just openly questioning the founder, Justin Sun’s weird PR strategy – where he hypes stuff up but doesn’t really gives details. He even misleads his followers when he announces deals, like he did with the Baofeng deal announcement, which was way oversold.
After he pulled that stunt, how can we really take new deal announcements seriously. I mean how meaningful are these new partnerships, in reality? (like the one below)
Strategic Partnership between TRON and GSC Makes One Hundred Million Users Get Access to TRON Network#TRX#TRON$TRXhttps://t.co/vnKyy6VigC
— Tron Foundation (@Tronfoundation) January 27, 2018
The announcement of so many deals has sparked the creation of memes like this one:
The whitepaper was plagiarized
A huge scandal rocked this cryptocurrency last month when someone on Twitter pointed out that most of the parts of the Tronix whitepaper that should have been original were actually copied from other blockchain projects.
The founder of this crypto coin didn’t even deny it – he just tried to pick up the pieces by saying some of the translated versions didn’t carry over the references that were supposed to have been made. Okay, so what is especially unique about this protocol if most of it is ripped off?
Sure, the project is interesting, and there are a lot of talented developers working on the endeavor (which is focused on sharing media like the iTunes store). But, unfortunately, the troubles this coin faces mostly come from the top – the founder, Justin Sun. He botched the response to the plagiarism thing and came off as super defensive.
The point is that he misled his fans and supporters of the currency. Truth matters when it comes to hyping up a piece of technology that is worth this much money.
There are a number of other complaints against Tronix
As you saw above, people accuse the Tronix founder of selling off his coin supply for personal profit. More than that, people think he did at 6.0 billion sell-off of TRX coins under a secret wallet. It turns out that it wasn’t his wallet, but – according to him – a ”market maker and private investor” who maintains the currency’s liquidity.
Tron Reddit supporters will tell you to ignore the hustle and bustle going on within social media and even to ignore the price action – just to focus on the underlying technology, and wait. They are convinced that this technology is the one, even though most of its core protocol isn’t original.
If they are so big on ignoring the price fluctuations – have them tell that to TRX’s founder. He seems to love tweeting about price movements and trade volume data. At least he does when the data is looking good for Tronix. He also likes to manipulate the price, as it would appear.
Oh, and there’s still not a product. The launch date is slated for March 31st.
Actually, there are a lot of developers joining the team and working on the final product – plus they are keeping the public updated with what they are working on:
TRON weekly report 01.27–02.02 #TRX #TRON $trx
— Tron Foundation (@Tronfoundation) February 5, 2018
It’s a shame that this coin is being mismanaged from the top.
What do you guys think? (I’m ready, TRON fans, bring it on)
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.