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Justin Sun Fires Back at Former BitTorrent Exec

  • Alex Morris
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    Tron CEO addresses a tantrum by former BitTorrent executive Simon Morris who claimed Sun doesn’t have a technical bone in his body


Justin Sun Fires Back at Former BitTorrent Exec
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Contents

Justin Sun, the ubiquitous CEO of Tron, has just posted a statement on his subreddit, which addresses the comments made by former BitTorrent executive Simon Morris. Earlier, Morris stirred a controversy in the crypto space, claiming that the Tron network isn’t able to handle the tokenization of BitTorrent.

Shredding Tron

The BitTorrent token (BTT), which continues picking up steam, will integrate crypto into the biggest file-sharing client in the world, thus streamlining the pace of adoption. However, not everyone was excited about the rollout with Morris, who had been an executive at BitTorrent for more than a decade, taking jabs at Tron and its CEO in a recent Breaker interview.

Shredding Tron

Morris did admit that tokenization could be a boon for the BitTorrent network (it could accelerate the speed of transactions by a whopping 40 percent). However, according to his estimations, Tron’s ‘thin veneer of technology’ simply wouldn’t be able to process such a gargantuan transaction volume. He applauded Sun for his marketing efforts and his ‘Trumpian’ approach to dealing with criticism, but when it comes to technology — it’s all just smoke and mirrors.

Justin Sun claps back  

The interview got a substantial amount of coverage in other cryptocurrency outlets, which subsequently prompted a response from no other but Sun himself. Tron CEO believes that Morris, who parted ways with BitTorrent before the July’s acquisition, wasn’t able to keep in touch with the progress their engineering teams have managed to achieve. In order to handle all transactions, they will deploy a ‘hybrid’ approach, combining on-chain/off-chain exchange.

Sun emphasizes that the upcoming rollout of the BTT token will also give those who share files more control over their content apart from expanding the community. The ambitious project is positioned to be a game-changer in the P2P space.


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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

'Bitcoin symbol and graph.Vector illustration.' image by 123rf https://ru.123rf.com/photo_69329295_bitcoin-symbol-and-graph-vector-illustration-.html?term=bitcoin&vti=njv6v7w01tymanucm1-1-82
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