So Tron or "TRX" as its traded my two cents

in #cryptocoins6 years ago

So here im going to make a post and try to contribute to this wonderfl site. Instead of shariang my useless doodles I figured I would try and drop some info on a popular coin that had a lot of people feeling very optimistic. I hope it stll can .. As i roll though life i realise that staying true to my own advice and High hopes low expecttions can never let ya down .

TRONIX and its sudden dip


TRON is designed to ‘heal the internet’ globally by creating a free content entertainment system on the now popular blockchain technology. It is designed to make the payment, storage, development and credit sharing easy for entertainment enthusiasts. It enables a person in one continent to purchase live entertainment from another continent. It helps overcome the traditional payment hurdles such as having a bank account in a bank outside your country.

Background of TRON
TRON was started by Justin Sun. He serves as the company’s CEO. Over the years, he has had his notable moments having appeared twice in Forbes 30 most influential Asians under 30. He was the protégé of Jack Ma the founder of Alibaba. Sun is also recognized as having started Peiwo which is the Chinese equivalent of Snapchat. His popularity has enabled TON to grow at a very fast rate.

TRON has issued two previous ICOs which sold in seconds. According to Sun, TRON will become a new king of the distributed economy where streaming of videos, gambling, and digital entertainment will be extremely easy and fun. The users of this cryptocurrency will own their own unique economy.
How does Tronix work?
TRONIX is the cryptocurrency which runs TRON. This crypto is the one which is being used for the service of a distributed economy. There is a ‘Smart Contract Protocol’ in TRON and which enables the users to easily access the features of the crypto. This protocol allows users to publish, store and own data freely. It also allows the users to enjoy ownership rights to their content and decide what, when and how to share it.
TRON can also play host between developers and users. It can be used to verify the authenticity and the compliance of credit information of both parties. The crypto is also well designed to be used in gaming currency exchanges as well as online gambling.

Reason for TRON (TRX) Dip
TRON (TRX) Dips after Cash out Allegations
An allegation was made against Justin Sun, The TRON founder that he sold billions of TRX tokens, leading to FUD price.

TRON (TRX), one of the fastest growing tokens leading into 2018, took a tumble after a Reddit post alleged that TRON founder, Justin Sun, has sold over 6 billion TRX.
The Reddit post points towards a wallet (0x60dfe511ef939e25843471e34e856e5b2e07c92a) and claims that it belongs to Justin Sun, and shows that 6 billion TRX were sold for ETH and cashed out for hundreds of millions of dollars.
The poster then goes on to question the project’s legitimacy, worrying investors and leading to a dip in TRX price, which went from a high of $0.20 to a low of $0.14 today.
The two reasons why the Reddit poster and the community believe the wallet belongs to Justin Sun are:
The large volume of TRX tokens
The wallet (0x60dfe511ef939e25843471e34e856e5b2e07c92a) is linked to a CryptoKitties account called justinpets
Following the allegations, even Litecoin creator, Charlie Lee sent out a Tweet, asking Justin Sun whether he sold his TRX worth $500 million. Interestingly Justin had earlier said that Charlie Lee selling his LTC was ‘a pity’.
This was what actually causes investors and the community at large to keep on dumping the coin.

let me know what you think, follow me @Germs20Germs still need to setup my instagram no snapchat.. ill let the requests tell me what social media is actually important. feed back very welcome email me at [email protected] or direct message me here. Thanks for reading this to the end.

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Hola @uglygerms, upv0t3
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