Haters Say TRON (TRX) is a Scam. They Might Have a Point.

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:

Oh, and this one:

And a lot of disputes like these:

The founder is a misleading hype man

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)

The announcement of so many deals has sparked the creation of memes like this one:

tron (trx) tronix justin sun shitcoin
twitter.com

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:

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.

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Stephanie attended University of California Santa Barbara and graduated with a double-major in economics and communications. After working for an accounting firm as an analyst for two and a half years, she began freelancing – specializing in writing content for accounting blogs. After branching out into writing how-to guides and even whitepapers on personal finance and financial technology, Stephanie began writing on cryptocurrencies and blockchain technology. She has been personally buying crypto coins for almost two years, and has written blog content for the past year and a half.

16 COMMENTS

  1. I bought the coin at 0.001 USD , I made almost 3 million when the coin is at 0.03 cents as of today. Currently there is a loss in translation between the Chinese and English from Justin’s words.

  2. I’m excited for crypto currency to get big enough so that professional writers start to write credible well written articles. I’m sorry, but this article is trash. Poorly written and poorly executed. I’m honestly surprised you were confident enough to sign your name to it, I guess good for you.

    • This is the typical response anytime anyone is critical of TRX. This is why everyone hates TRX. Just senselessly trashing a piece because it doesn’t fit the narrative that you want it to. Come on man.

  3. It seemed like a winning combination, and the initial price hike was encouraging. However, the momentum shut right down after that whale sold 6 BILLION COINS, and walked away with just over a billion dollars. That was disheartening, and while part of me says “stick with it, it can only get better” there’s only so much hope someone can have when the coin they bought at $.20 each is now down below $.03…..Caught the wrong end of that Pump-n-Dump, eh?

  4. Not a Tron investor here. At least for a while. For last two years I accumulate BTC, bought a lot of ETH and heavily invested on LTC and XLM since October. What I can perceive for some time is the hate campaign fuding on TRON is getting so deep that not only me but our entire group are starting to questioning that. Particularly in my case, I am just waiting a small pump on XLM to flip all my position of this trustworthy-established-coin into TRON. Question here is, all your points are to weak to prove that TRON are real shit. They are a ripoff of general uncreative cliché-ridden comments from sub reddits and pseudo-specialists from twitter, enraged by a young Chinese newcomer in the walled club. The fact that Justin Sun make so nice shit on twitter is just a plus to get into this TRON. Forget about what you read on internet. Crypto is not driven by project. In this case Tron is safe with a bare minimum protocol borrowed from someone else. What drive crypto are emotion and perception, and TRON have all the elements to keep pumping. Btw, what is the difference between a founder whose steal a whitepaper and a freelancer rewriting stereotyped commonplace into click-bait “content”?
    I am ready kid, delete it on.

  5. Hi!
    Tron owner here,

    My love of the token/coin is in the scope of it’s vision. Cryptocurrency was never appealing outside of speculative investment prior to Tron for me because the focus was hardly ever in it being an asset and rather just a share without a company to be a partial investor of.

    The product was often the share itself and through that felt superfluous.

    While the notion of tying the token/coin to a digital asset isn’t new and thus not unique to Tron, nor the idea of cross platform transfers, none of the previous engagements felt as though they would become adoptable by the mainstream.

    That isn’t against the technology, which many are sound, rather it is acknowledging that the first person to invent the wheel probably did not envision it being used in the ways we do today.

    Facebook wasn’t the first social media platform.
    Google wasn’t the first search engine.
    The Iphone wasn’t the first smart phone.

    You get my drift – In technology, it isn’t about who the first is to make a product but rather about the first to bring something intuitive to the people. With it’s scope and it’s aim to be highly accessible, with someone who already has experience doing so (through Chinese app’s or otherwise) I feel Tron might well be the one to bring the Blockchain to more people than just investors.

    And that is my sincere feeling about the project.

    If you were concerned about the project and wanted to donate this “shitcoin” away, send it to a faithful Hodler like me, Tron’s mah jam ATM 🙂

    0x73544e4fbf928e6528fe4e0409a02c276df03bd1

    • This is a more sensible reply to an article that isn’t necessarily favorable. If more TRX holders responded the way you did, unlike a certain someone above, people would harbor a lot less hatred for TRX.

  6. Amazing to see this click bait recycled FUD regurgitated by Stephanie Herrera here. Did you bother to go to the GITHUB page and see whats going on? Justin Sun goes out of his way to update and communicate does a amazing job. The development team is outstanding. This is cheap and sad to see!

  7. What Garbage..go to GITHUB to see what’s actually happening. testnet will launch soon! March 31 beta platform is released. coin burn coming. It’s like regurgitated twitter vomit 🤢 shameful journalism.

  8. The Tron community brought it on, which ironically, is one of the reasons I stopped believing in this coin.

    I initially bought the hype from information gained from other sources, it seemed solid, it was cheap, I invested.
    I then visited the reddit sub and was pretty appalled at what I saw there, it was a kids playground, exceptionally immature. As this reddit is somewhat endorsed by Tron, as another potential fanbase, it put me off.

    I then started researching via the few decent posts on that sub, from people who had actually looked into the facts.

    It soon became apparent that the ‘development’ of this coin was less than honest, the white paper plagiarism, which was completely impossible to refute.
    It got worse, the dev team were lifting code and changing the license notices – this code was open source, so sure, you can use it, but under it’s license terms, e.g. GPL – you have to leave the copyright notice intact.
    They weren’t doing that, they were just removing the licenses and changing namespace, variable and object references to Tron derivations.
    They were called out on this and did in fact put licenses back into the code they used – but last time I checked, the licenses were still wrong – the incorrect attribution in some cases.

    Then there’s the question over the misunderstanding that many in the West have about the Chinese market. An english speaking Chinese reddit contributor pointed out a few gaping holes in the entire project.
    Firstly, that Justin Suns companies, such as Piewo, were absolutely tiny in China, completely dwarfed by the big players – so much so, that most people in China didn’t even know they existed.
    Then there’s the fact that the Chinese leadership is not exactly a big fan of decentralisation.
    Add to that the very big gaping hole in the Tron plan, that WeChat currently does everything Tron could possibly imagine and more, but in a centralised controlled way. WeChat is simply massive – it is all pervasive in China and there’s little to no chance that Tron could steal that thunder, not in a decentralised fashion, anyway.

    You cannot point any of this out to the reddit sub without being swamped with a hail of hatred and downvotes.
    Any sensible, considered criticism is immediately pounced on and declared as FUD.
    Any bad news about Tron, such as the price, is immediately excused – it’s the “wales”, it’s “market manipulation”, “just HODL and Believe”
    It’s like a cult, really quite scary.

    I made my money on TRX as my first foray into Cryptocurrency and just got the hell out.
    The coin community it toxic, the leader gives out mixed messages and the product has absolutely nothing unique about it.

    To all intents and purposes, it’s just an ERC20 Token riding on the back of Ethereum technology.

  9. I will say this about the plagiarized whitepaper. Yes TRON borrowed stuff to pad their whitepaper, but its important to remember that the whitepaper was a placeholder. TRON is still in it’s infancy. Don’t expect this coin to go anywhere till 2020. Also plagiarism isn’t a big deal in china. The culture is different there.

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