TRON’s sloppy PR shows everything that’s wrong with cryptocurrency startups

Tron's in trouble and what's adding fuel to the fire is how they handle their fork ups. I wonder if Tron will be able to recover, or slowly disappear from everyone's radar, based on the rapidly decreasing value of its tokens. TNW wrote a story with details about how Tron responded to some of the recent allegations:

"Fledgling cryptocurrency startup TRON got its first big break three weeks ago, when anti-virus pioneer John McAfee shilled its TRX coin to his 500,000-plus followers. Days after that, the McAfee effect was on full display and TRON’s value had skyrocketed from a measly 4¢ to almost 29¢.

But it seems this astonishing bull run is gradually coming to a halt – and not without reason. Shortly after breaking into the top-10 cryptocurrencies by market share, TRON found itself attracting tons of negative press, implicating the company in a series of shifty activities: from plagiarism to misrepresenting announced partnerships. As a result, its price has since flopped back to under $0.10 – half of what it was less than 10 days ago.

In all fairness, such extreme amplitudes are nothing uncommon in the world of cryptocurrency – but this case calls for closer scrutiny.

For those unfamiliar (McAfee followers especially), the TRON blockchain network was built with the purpose to empower content creators across the globe to profit from their work by sharing it in a global entertainment system.

Indeed, all stars seemed to be aligning for TRON when CEO Justin Sun – who has previously appeared in Forbes’ 30 under 30 on two separate occasions – revealed that the company had reached a partnership with ‘Chinese Netflix’ Baofeng, which boasts more than 200 million users.

The announcement could have gone a long way to proving The Washington Post and its claims that TRON “doesn’t actually exist” wrong… but somehow the company managed to screw up even this news."

Continue to read the full story here: https://thenextweb.com/hardfork/2018/01/15/cryptocurrency-startup-tron-disaster/