It has been over eight months since crypto dreams were shattered. Many saw their new Corvette ripped right out of their imaginary driveway. Some even saw their Lambo disappear. These were all optimists. Now, eight months later, there is a lot of bitterness and resentment in the air. You go on Facebook and there is nothing but crypto naysayers with their constant FUD. Comments like ” Bitcoin is going to zero” seem to surface quite often. Why are they even subscribed? I guess they are just your typical trolls getting their daily dosage. In cryptocurrencies, referring more to the currency part of it, sentiment is a big factor. In fact, there are even sentiment indicators nowadays. But don’t worry, I have seen this same response three times since 2013. In the next rally, they will all be back towards the very end of it.
In the last several weeks, there has been a lot of talk regarding two of crypto’s most popular personalities. This has ignited sentiment from both camps. No, it is not involving our beloved John Mcafee. He is taking pseudo pilates to increase his flexibility just in case Bitcoin doesn’t reach a million dollars by 2020. So if it is not him, who is it? Well, a few words have been exchanged between the leaders of two of the most talked about cryptocurrencies. We are talking about Tron and Ethereum. Tron wants to replace Ethereum. Ethereum wants to stay relevant and hopefully, for their sake, find some solution to their scalability concerns.
Tron Loves the Hype
As we all know, Justin Sun loves to market his product. He is a mastermind when it comes to creating hype. Some have criticized him for giving announcements of announcements. Regardless to say, he got Tron to where it is today. One of the top 13 cryptocurrencies in the world. And all of it with only one year in existence. Nonetheless, there is still the question by many as to whether Tron will provide something useful to the blockchain community. Only time will tell.
#TRON continues to grow at speed already at a third of #Ethereum’s transaction rate. #TRX $TRX https://t.co/PSEOTh0WUd
— Justin Sun (@justinsuntron) September 11, 2018
In the short time that Tron has been around, it has been accomplishing quite a bit. And Justin Sun takes no time to point out the things that are coming to fruition. He celebrates with the community as every milestone is reached. Some people see this as a bad thing. They state that he is pitching or promoting a product to people, thus, enticing them to invest their money on something that, according to these critics, has not proven itself. This is a valid argument. A lot of speculation is present in the crypto market as real practical uses have not yet unfolded. But that comes with any disruptive technology that isn’t built overnight. Either way, whatever Justin has done, has been successful in getting Tron on the world stage.
Ethereum and the Nice Guy
So now that Ethereum is trying to overcome its scalability concerns, you have Vitalik Buterin making remarks that make you wonder. Is he downplaying Ethereum, and crypto as a whole, so as to not mislead the people into blindly putting their money on cryptocurrencies? I get this argument from those that have an issue with the tokenomics of cryptocurrencies. If so, why is he being so nice? This Tweet pertains to the first article that states that the collapse of ETH is inevitable.
Fascinating: @VitalikButerin agrees with @JeremyRubin that the value of ETH will trend toward 0 unless changes are made to the protocol.https://t.co/9haLKJol8thttps://t.co/LuU8s2zspP pic.twitter.com/Y1kC48lKK1
— Jameson Lopp (@lopp) September 3, 2018
Would you invest in a stock where the CEO says “If we don’t merge with company XYZ, our stock will go down to zero.”? Of course not. So what’s the dilly? Does he have SEC concerns? Is he now a puppet? Is he just bad at PR? I do not know the answer. Maybe we will figure it out as the crypto market evolves. I remember seeing his videos of how Ethereum will change the world. What has changed? In order for a currency to succeed, you better have a lot of individuals share in the notion that it has value. With such remarks, you are essentially killing off those who believed in you. Not good in my opinion.
Vitalik ties to Justin
Then came the remark that ended in Vitalik calling out Justin Sun. It all started with Vitalik saying that the days of 1000x price increases were over. He then got slammed for saying this and responded: ”To be clear, I never said that there is no room for growth in the crypto ecosystem. I said there is no room for 1000x price increases. A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today's global wealth being in crypto.
Come on, no one in their right mind thought he was talking about the entire market cap. Either way, then came the jab at Justin Sun:
Me: obviously, let’s be realistic, the entire world wealth is not going to turn into cryptocurrencies…
Media: VITALIK IS A PESSIMIST!!!!!1!!1!
Guys, if you spin things this way you’re *incentivizing* people to act more like @justinsuntron
— Vitalik Non-giver of Ether (@VitalikButerin) September 12, 2018
Justin is Optimistic Justin
I do believe the entire world wealth will turn into cryptocurrencies like blackhole and grow much bigger in the future. Cryptocurrency will hit 10 trillion USD market cap before @Apple and @amazon do. We will see. Time will tell. #TRON #TRX $TRX
— Justin Sun (@justinsuntron) September 12, 2018
The Final Take
Does Ethereum have a solution to their scalability issues? Will Tron have the real use case to reach the masses? Will it take that long for these solutions to take shape? According to what Vitalik says, it will be a while before we see meaningful real world use. Is this just him admitting that they are having significant development issues? I, personally, although a firm believer in the Tron protocol, do not want Ethereum to go down the tubes. Although it would probably be beneficial for Tron, it may not be good for the crypto market as a whole. Many people will believe that crypto has issues if Ethereum folds. At the end, we all need people like Vitalik and Justin, who are leaders in the space, to work together to reach the ultimate goal. And for crypto to succeed, due to the nature of currencies in general, optimism is needed.
To sum it up nicely, one of our community members/leaders wrote this: ”With the ongoing waterloo of crypto world in contemporary times, the infighting amongst the leaders is the last thing that has to happen. Mudslinging will only build a new segment of odds to be tackled. In the process there will be a lot of beans that will be spilled. People not supporting crypto will be the only segment that will get fuel to their fire, and such exchanges will only create a bank of reason to fight with heightened ferociousness.
| This article was written by the Tron Spark team. Tron Spark is a digital content platform currently serving as a Tron Super Representative. We believe that with the help of the Tron community, we can inform and educate the masses on the exciting evolution of the Tron Protocol. Join the Tron Spark team and lets get the message across! |
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