Will Justin Sun dump 33 billion TRX on New Year's Day?

target

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Quote from: Yaunfitda on January 05, 2020, 08:10:12 PM

I'm not a TRX holder, but it doesn't make sense for Justin Sun to dump 33 billion worth of TRX. And I think he already confirmed it here:

Quote

The CEO of the TRON Foundation, Justin Sun, has revealed via a livestream that the organization will not sell the 33 billion TRX tokens, worth over $400 million, on the market and plans to keep them.

https://www.cryptoglobe.com/latest/2020/01/tron-foundation-won-t-sell-its-33-billion-trx-justin-sun-says/

See, it will just create chaos for them, so it won't be good in the long run. Perhaps this is just to create FUD around TRX and it's good that Justin step up and confirmed that there will be no selling.

This thread should be lock by the OP.

Justin conveniently wait til the price drop before announcing they will not sell.
Someone should ask how long will they keep the TRX worth $400M because certainly this issue will not even end until its been locked again. There wouldn't be a purpose of unlocking it if its just going to lie around there like waiting to be activated and dumped.

nicster551

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This news was too much exposed and I dont think Justin Sun will dump his unlocked coin on the market straight away. He is a smart guy who loves to hype simple things. I think the news about this unlocking is already prepared, he knows to people get FUD and sell their holdings but Justin anticipated this event and I think he bought a lot of trx on the market and he will sell it when he starts to hype some things again.

DabsPoorVersion

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Quote from: Yaunfitda on January 05, 2020, 08:10:12 PM

I'm not a TRX holder, but it doesn't make sense for Justin Sun to dump 33 billion worth of TRX. And I think he already confirmed it here:

Quote

The CEO of the TRON Foundation, Justin Sun, has revealed via a livestream that the organization will not sell the 33 billion TRX tokens, worth over $400 million, on the market and plans to keep them.

https://www.cryptoglobe.com/latest/2020/01/tron-foundation-won-t-sell-its-33-billion-trx-justin-sun-says/

See, it will just create chaos for them, so it won't be good in the long run. Perhaps this is just to create FUD around TRX and it's good that Justin step up and confirmed that there will be no selling.

This thread should be lock by the OP.

Things have already been cleared about this issue.
It is clearly just to spread FUD and tried to drop its price.
But luckily it does not have a huge impact and there is a few holders who panic sell their investment.

Everything is clear now, so OP this thread can be lock now.

hello_good_sir

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Quote from: Aabcde on January 05, 2020, 10:36:35 PM

The fact that there is now no dump done by Sun means that this prediction or question is not proven. Regardless of whether Sun will dump or not, the fact is that tron is shitcoin. Gradually it will lead to nothingness.
I already sold tron when there was still a profit opportunity. Good luck who is still locked by Sun lol

I don't think that TRON is necessarily a worthless token.

There are already a lot of projects that have established themselves on the platfrom that TRON has provided and there is no denying of that. That alone offers a lot of utility for the TRON token, which means that TRON has at least some intrinsic value as opposed to the vapourware on offer that have none.

But I'm not the biggest believer either, especially with how centralized the supply seems to be as well as the influence.

Aabcde

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The fact that there is now no dump done by Sun means that this prediction or question is not proven. Regardless of whether Sun will dump or not, the fact is that tron is shitcoin. Gradually it will lead to nothingness.
I already sold tron when there was still a profit opportunity. Good luck who is still locked by Sun lol

Yaunfitda

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I'm not a TRX holder, but it doesn't make sense for Justin Sun to dump 33 billion worth of TRX. And I think he already confirmed it here:

Quote

The CEO of the TRON Foundation, Justin Sun, has revealed via a livestream that the organization will not sell the 33 billion TRX tokens, worth over $400 million, on the market and plans to keep them.

https://www.cryptoglobe.com/latest/2020/01/tron-foundation-won-t-sell-its-33-billion-trx-justin-sun-says/

See, it will just create chaos for them, so it won't be good in the long run. Perhaps this is just to create FUD around TRX and it's good that Justin step up and confirmed that there will be no selling.

This thread should be lock by the OP.

btc_angela

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What do you expect from Justin? He is really a shill god in a sense. So perhaps he really has some grand scheme behind saying that he will dum 33 billion TRX, which didn't happened.

Maybe he is just hyping TRX, but then again we are still in the bear market, so I doubt that people are going to bite on it. Better wait till everything settles down a bit.

romanij

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33 million TRX coins is a huge amount. Most likely, JS has some grand plans. If this is the usual unlocking of coins, then this project is waiting for a very strong fall. TRON will lose a large number of investors and people will stop believing in it. Very sorry....JS started everything very nice and promising. But I'm not worried because I haven't invested in TRON.

Mallyx

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Quote from: Anonylz on December 31, 2019, 08:48:41 AM

Quote from: Mallyx on December 30, 2019, 11:17:54 AM

Quote from: target on December 30, 2019, 11:15:01 AM

Quote from: sureshnsnet on December 30, 2019, 10:03:46 AM

snip

1. Let people believe 33b will be dumped
2. Buy a lot of TRX
3. Make the announcement of the announcement that 33b TRX will be burned

I don't see share your view, because nobody will be willing to buy more trx knowing fully well that 33b more will be injected in the current circulation, am afraid this is not the type of announcement that makes people fomo to buy more rather i think this will have a huge impact on price, justin sun should know better than dump such a huge amount, am sure this is fake news.

Well, that's mostly a joke, they don't need to do that. But burning still can be a plan.

Anonylz

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Quote from: Mallyx on December 30, 2019, 11:17:54 AM

Quote from: target on December 30, 2019, 11:15:01 AM

Quote from: sureshnsnet on December 30, 2019, 10:03:46 AM

snip

1. Let people believe 33b will be dumped
2. Buy a lot of TRX
3. Make the announcement of the announcement that 33b TRX will be burned

I don't see share your view, because nobody will be willing to buy more trx knowing fully well that 33b more will be injected in the current circulation, am afraid this is not the type of announcement that makes people fomo to buy more rather i think this will have a huge impact on price, justin sun should know better than dump such a huge amount, am sure this is fake news.

justdimin

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First of all I didn't know Justin Sun had half of all Trons in the world, right now there is about 66 billion trons available and if he owns 33 billion of that, it means tron is faaaar faaar less decentralized than I assumed, dude could do whatever he wants to price of tron with that type of wealth.

However assuming it is true, if he actually goes up and sells 33 billion of it, he would crash the price which we all know but how much he would crush is not clear. Right now the whole volume is around 1 billion, and that is 500 bought and 500 sold, if he sells 33 billion that would first be faced with regular prices which he would make the most profit from but then it would go down as little as 10 satoshis and even lower, in which case Tron is as good as dead.

Ahimoth

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Quote from: luppecuppe on December 30, 2019, 05:35:09 PM

Justin Sun is a good investor. I don't think you'd do anything like that. The TRX price has already fallen. There are also many claims about Justin. I think he could do something different to raise the price.

Justin Sun doesn't want tron to fall that worst, and this is just a FUD for tron holders to influence any possible panic. This man is the creator of tron, and he won't allow this situation to fall at hopeless situation. Don't let this bad thoughts gather negative impact on us, much better if we can handle more stressful times but not on uncertain and non sense opinions.

adjed

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Justin would likely burn some portion of it and he would make sure he makes an announcement of an announcement of the burn, I don't think selling it right now is an option for them since too many eyes are on that 33 billion tokens and if he dumps such huge amount, those still left supporting the project would lose faith in it.

Who remembers Justin Sun's prediction about Tron being top 4 on CMC before the end of the year? Well we are in the last day of the year and people are trolling him on Twitter, below is an example Grin

Mallyx

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Quote from: Coin-1 on December 30, 2019, 03:07:37 PM

Quote from: Mallyx on December 30, 2019, 11:17:54 AM

Quote from: target on December 30, 2019, 11:15:01 AM

Quote from: sureshnsnet on December 30, 2019, 10:03:46 AM

I am sure the Tron team will have better plans to do after 33 billion unlock Tron coins, I think we have to wait for official news about that from the Tron team maybe they will give after unlocking Tron coin and my suggestion to Tron coins holders do not sell your coins in panic for any unofficial news regarding this.

Yes their plan is to dump. You can always think of something else but why unlocking these funds if it won't be put to use and this is when you see how practical it can be for them to dump than hold it. One possibility is they will distribute it to the dapps developer who does it with TRON for cheaper price which will still end up dumped. Its just two days left but Sun hasn't announced anything yet.

1. Let people believe 33b will be dumped
2. Buy a lot of TRX
3. Make the announcement of the announcement that 33b TRX will be burned

If the TRON Foundation wanted to burn these coins, they would destroy 33 billion TRX as soon as possible, that is, immediately after TRON migrated from the Ethereum blockchain to its new mainnet. Perhaps they sought to encourage holders to exchange ERC20 tokens for TRX coins and raise investor expectations.

Alternatively, Justin Sun has not yet made any announcement in order to see how the crypto community will respond to this event. The current TRON price is $0.013, so 33B TRX cost about $450 million. According to CoinMarketCap, the total capitalization of this cryptocurrency is $900 million, so the unlocked amount of TRX coins is really huge.

I think the TRON Foundation should again lock these 33B TRX (or some part of these coins) and thus reassure TRON holders and investors.

Yup, the sum is too big.
Let see if they are greedy or not.

luppecuppe

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Justin Sun is a good investor. I don't think you'd do anything like that. The TRX price has already fallen. There are also many claims about Justin. I think he could do something different to raise the price.

Ezravdb

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Quote from: Anonylz on December 29, 2019, 04:45:27 AM

One of the reason why am not a huge fan of trx is because of it's enormous supply, i always thought of this even though i hold some trx in my wallet, anytime they release new trx in circulation in the market it will often result to this type of panic, and how it will affect price, 33 billion is a huge amount which can definitely affect price a great deal, this is not a good news at all, i hope he will not do this.

You are right, One of TRX holders' concerns about unlocking TRX 33 billion in early 2020. Of course there will be panic, as in another thread ethereum CEO ETH sell in large quantities which was revealed recently, of course if this happened to Justin Sun, the TRX price would be lower than the current price. I guess we have to get out before this happens.

disconnectme

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It would be foolish on the part of Tron developers to try to sell the tokens or even move it to exchange, remember the tokens are already stained and people are monitoring it. I for one believe it is time these developers start burning these huge tokens they are sitting on just to return the investors interest, but something is telling me Tron could turn out to be Ripple 2.0

tabas

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I'm not a TRX holder and never liked this coin just because it's pretty obvious that all the marketing stunt he does is for publicity and to gather attention from investors. But I acknowledge his achievements and successes how he delivered those marketing and announcements he did and bought huge names like bittorrent. There is a possibility like what you all are thinking about dumping. They are developers and they have to make money out of their creation just like what Vitalik did.

Coin-1

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Quote from: Mallyx on December 30, 2019, 11:17:54 AM

Quote from: target on December 30, 2019, 11:15:01 AM

Quote from: sureshnsnet on December 30, 2019, 10:03:46 AM

I am sure the Tron team will have better plans to do after 33 billion unlock Tron coins, I think we have to wait for official news about that from the Tron team maybe they will give after unlocking Tron coin and my suggestion to Tron coins holders do not sell your coins in panic for any unofficial news regarding this.

Yes their plan is to dump. You can always think of something else but why unlocking these funds if it won't be put to use and this is when you see how practical it can be for them to dump than hold it. One possibility is they will distribute it to the dapps developer who does it with TRON for cheaper price which will still end up dumped. Its just two days left but Sun hasn't announced anything yet.

1. Let people believe 33b will be dumped
2. Buy a lot of TRX
3. Make the announcement of the announcement that 33b TRX will be burned

If the TRON Foundation wanted to burn these coins, they would destroy 33 billion TRX as soon as possible, that is, immediately after TRON migrated from the Ethereum blockchain to its new mainnet. Perhaps they sought to encourage holders to exchange ERC20 tokens for TRX coins and raise investor expectations.

Alternatively, Justin Sun has not yet made any announcement in order to see how the crypto community will respond to this event. The current TRON price is $0.013, so 33B TRX cost about $450 million. According to CoinMarketCap, the total capitalization of this cryptocurrency is $900 million, so the unlocked amount of TRX coins is really huge.

I think the TRON Foundation should again lock these 33B TRX (or some part of these coins) and thus reassure TRON holders and investors.

ATSgrowth

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Maybe it is fake news or a another Justin´s marketing how to bring attention to Tron? I wouldn´t be surprised.
But we finally see what is bad on altcoins when team holds a big amount of tokens. Stop buying premined coins. Cool

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