[Lampwick]

Is anyone holding this? It's had a meteoric rise to a ~$17 billion market cap. But just today, someone has reportedly sold 6 billion tokens (around 10% of the circulating supply):

https://www.reddit.com/r/CryptoCurrency/..._trx_scam/

The CEO Justin says that it was not him, but "our private investor and market maker" who is also named Justin:

https://twitter.com/justinsuntron

What a funny coincidence! The CEO says it could not be him, because he only uses his Chinese name for registration, Yuchen, since it is "unprofessional" to do otherwise. Except for this screenshot of his laptop, which shows that he used "Justin" for another one of his accounts:

https://pasteboard.co/H1EANOp.png

What do you guys think? Are you still holding this or are you bailing? I never bought any, I got a tiny amount from an airdrop, which I sold.

If this crashes, I'm wondering what it will do to the confidence of the market.

[Daffy]

I am, Apparently there's going to be an announcement 6pm UK time about a big partnership with an entertainment company. See how it goes

[Turnus]

Got the small amount from an airdrop and picked up a little more at .08. I'll hold and see where this goes

[Roosh]

(01-06-2018 07:42 AM)Lampwick Wrote:  

Is anyone holding this? It's had a meteoric rise to a ~$17 billion market cap. But just today, someone has reportedly sold 6 billion tokens (around 10% of the circulating supply):

https://www.reddit.com/r/CryptoCurrency/..._trx_scam/

The CEO Justin says that it was not him, but "our private investor and market maker" who is also named Justin:

https://twitter.com/justinsuntron

What a funny coincidence! The CEO says it could not be him, because he only uses his Chinese name for registration, Yuchen, since it is "unprofessional" to do otherwise. Except for this screenshot of his laptop, which shows that he used "Justin" for another one of his accounts:

https://pasteboard.co/H1EANOp.png

What do you guys think? Are you still holding this or are you bailing? I never bought any, I got a tiny amount from an airdrop, which I sold.

If this crashes, I'm wondering what it will do to the confidence of the market.

It may not be accurate:

https://theripplecryptocurrency.com/tron-fud-alert/

But isn't TRON still years away from a product? Not sure why it got pumped.

[[email protected]]

I imagine the FUD is real on this one. The reason I never got in TRX was the same reason it shot up so quickly. The price was manipulated up using huge buy and sell walls put up by this "private investor helping to create liquidity". Essentially this private investor who is someone on the inside was pushing the price up with sell wall manipulation and then taking profits within these big buy and sell walls.

it made sense to me considering TRX hasn't been around that long (3-4 months) and has virtually nothing except a website yet jumped into the billion dollar cap and now #6. I am actually worried about what will happen to the market if it becomes clear he has been dumping

[BromigoMike]

(01-06-2018 09:07 AM)Daffy Wrote:  

I am, Apparently there's going to be an announcement 6pm UK time about a big partnership with an entertainment company. See how it goes

Where does is it say that?

[Lampwick]

(01-06-2018 12:35 PM)[email protected] Wrote:  

I imagine the FUD is real on this one. The reason I never got in TRX was the same reason it shot up so quickly. The price was manipulated up using huge buy and sell walls put up by this "private investor helping to create liquidity". Essentially this private investor who is someone on the inside was pushing the price up with sell wall manipulation and then taking profits within these big buy and sell walls.

it made sense to me considering TRX hasn't been around that long (3-4 months) and has virtually nothing except a website yet jumped into the billion dollar cap and now #6. I am actually worried about what will happen to the market if it becomes clear he has been dumping

Burner, I had a very similar reaction once I started looking at this coin. It has a lot of bad signs:

• Suspicious insider selling activity
• Bogus whitepaper with references to Star Trek, technobabble
• Shifty looking CEO with gay face (often closeted guys have issues)
• Obvious, sociopathic lying when confronted (The smart contract is flawed, we had to move the coins to cold storage. That Justin's not me, it's the other Justin).
• 60% of supply went to insiders
• Coin comes out of nowhere and nearly hits $20 billion
• Bogus site game.com which is supposed to be a partner
• Huge buy walls right now, probably to support insider dumping
• Instant rebuttal blog post from a supposed third party to the allegations on reddit, complete with reassurance and sales pitch at the end
• Fanatical community that shouts down everything as FUD and jealousy
• Dumbest of the dumb money is in this one, largely because it looks cheap (< $1) and has a cool name
  

Even if you take his excuses at face value, he's admitting that an insider is buying and selling to manipulate the market.

[Gas]

Interesting. I took some huge profit on this but still have a position. I agree Justin Sun has the most punchable face in crypto.

[Dafffy]

The founder announced it, was a bunch of bullshit. He confirmed nothing.

[mack10]

Tron will be a case study for years as one of the greatest crypto schemes ever. If you want to get rich, you need to sniff out the next Tron and put $500 on it.

When I feel like taking a break I read through some of the Twitter posts and the # of people outright panicked who bought in at ATH and are facing the harsh reality of the crypto world.

It's marketing genius but eventually it will crumble. People still buying it though, but they don't really seem sophisticated and they are always saying "THERE IS AN 8 YEAR PLAN GUYS DON'T WORRY ALIBABA IS GOING TO BE A PARTNER SOON" as the whales continually milk them dry. And, of course, MUCH LAMBOS.

Anyone who is Chinese, can speak the language, or has insight into what is actually happening in China around this train wreck I would love to hear some unbiased insight.

[Cattle Rustler]

(01-07-2018 04:06 AM)Gas Wrote:  

Interesting. I took some huge profit on this but still have a position. I agree Justin Sun has the most punchable face in crypto.

Ian Ballina tops Justin Sun.

[Heightcel]

Scam coin, pumped by a lot of whales. Look at how Justin acts on social media, compared to someone like Vitalik Buterin, he's constantly announcing new partnerships with low amounts or zero proof. buy at your own discretion

[Turnus]

Was given some free tokens through an AirDrop and threw some play money at it at .06. We'll see if it goes anywhere or not but certainly not putting any additional funds into it. Doesn't feel right.

[Jean Gabin]

This has been one of the craziest shills/runs I've seen, props to the CEO/Justin Sun for pumping his coin like crazy with little more than a copied whitepaper.

[westcoastlink]

Got 500 free tron from Binance the other day with the remaining 1600/6000 I purchased @ 3.4 cents. Really not sure if it's still gonna make a jump when the bull run is back on since it's sitting around 6 cents now. I'll probably just watch to see what happens.