In our previous post, we had mentioned about few details regarding the TRON cryptocurrency.
Now, we would elaborate over the prices clearly, followed by few of the well-known controversies related to this currency. Also, we would give our final verdict over TRON.
What are the speculations related to the TRON Prices?
The 2 main factors that define the prices of the tokens are –
- Supply – A person needs to think if there would be excess inflation hindrance to the prices, i.e. decrease in economic growth.
The price of the TRON token is sufficiently linked to the demand for the platform.
- Demand – A person investing must also investigate if there would be enough demand for the tokens with the exchanges. (In fact it is better to expect more demand to be on safer side)
TRON created a fixed supply of tokens (100 billion TRX) meaning a zero inflation rate but that doesn’t mean that new tokens won’t enter the market though.
A total of 40% of the tokens were sold during the ICO, meaning 60% of the tokens will enter the market at some point so how will they be distributed?
- 35% – TRON Foundation/Ecosystem – It was recently announced that all of these tokens will be locked until January 1st 2020.
- 15% – Private Offering – No further details provided
- 10% – Peiwo Huanle Technology Ltd – No further details provided but CEO Justin Sun is also the founder of Peiwo. A question could potentially be raised here about where these tokens have in fact gone.
Coin Market Cap currently lists TRON as having a circulating supply of 65 billion; this would mean that all of the tokens that could enter the market have already done so.
Hence, both the ways, TRON is successful.
Where should a person go to buy TRON Tokens?
The Tokens can be purchased from any of the crypto exchanges but it’s better to purchase them from Binance. (Click link to visit page.) Binance tends to sell the tokens at comparatively good prices along with an option for liquidity.
Where can a person store the purchased Tokens?
Since TRON is one of the main Ethereum based tokens, hence the TRON tokens can easily be stored in any of the ERC-20 wallets which are compatible.
MyEtherWallet is also a good option but since it got hacked recently so one may hesitate but either ways this is the link for its download.
Another option are offline wallets (cold wallets) since they are a safer option than any of the online wallets (hot wallets) for longer storage options. One of the best ones is the Ledger Offline Wallet or the Ledger Nano S.
Recent Controversies –
Controversy No. 1 – Justin Sells TRX worth 6 billion
A post on Reddit alleged Justin of selling 6 billion TRX which later got erased when it was proven wrong but this controversy did have few effects to not only TRON’s founder Justin Sun but also to the Litecoin’s founder Charlie Lee (after a Twitter comment).
“Justinpets” was the name of the wallet account held by Justin which was linked to CryptoKitties. Over a 3 week period, the post claimed the account sold so many TRX tokens.
Justin clarified on his official Twitter account that the wallet didn’t belong to him and that he uses his official Chinese name ‘Yuchen’ for any sort of registration.
Lee had also deleted his comments on twitter which had accused Justin.
Controversy No. 2 – Acquisition of BitTorrent
had an eye for BitTorrent for quite some time, this was evident in Tron’s whitepaper, which included 8 unique
references to BitTorrent.
When 2 CEOs tried to save BitTorrent from its new project in Silicon Valley, they not only got fired but also got shut down. And Justin found this opportunity and indeed saved the firm which was struggling.
After a month of legal struggle and many misunderstandings based on the Letter of Intent, Justine has finally reached his last stages in the acquisition process. (No official announcement yet).
Justin’s Tron Foundation reportedly holds TRX worth $1.65 billion, even though it isn’t sure if this fund is used for the purchase of the company, but either ways, Tron is wealthiest among the other cryptocurrencies.
Justin’s vision has always been to build a decentralised internet and with BitTorrent’s peer-to-peer technology, it could very well be possible.
Controversy No. 3 – TRON’s whitepaper is a copy
TRON came under fire after analysis of their whitepaper and was found that a large percentage of it to be copied, almost word for word, from the IPFS and Filecoin whitepaper. The diagram below shows just how much was alleged to have been copied and details the lack of references.
Sun responded to this by saying that the original Chinese version of their whitepaper featured a number of references but since the alternative versions (English, Korean etc.) were translated by volunteers, they had missed a number of important details as well as the references.
TRON have since removed all versions of the whitepaper from their website and have released a new whitepaper.
with this the TRON review comes to an end. They have their own advantages and
few disadvantages due to controversies but either ways, one must always do a
good amount of research before moving forth in the crypto world.
Hence, Crypto investment should be considered like any other type of investment and a lot of thought must be put to it. After all, this investment also requires money, and in fact it requires a lot of money.