TRON founder Justin Sun announced yesterday that TRON will launch its Bitcoin Layer 2 network solution and roadmap, but this move has caused concerns within the community.
Table of Contents
TRON BTC Layer 2 Development Roadmap
Community Wails: Run Away!
Justin Sun’s History as a Contrarian Indicator
Background Information:
What is HTX DAO by Justin Sun, which destroyed all 41 million HT tokens?
Bitcoin’s price surge during the Chinese New Year has brought continuous attention to Bitcoin’s ecosystem projects. Second layer solutions (L2) such as Stacks and Nervos Network have recently achieved remarkable results.
Further Reading:
Bitcoin Layer 2 All-Time High! STX Soars 27% in One Day, CKB Up 300% in a Month
Against this backdrop, Justin Sun, founder of TRON and head of Huobi (HTX) exchange, posted on social platform X yesterday evening, stating that TRON will launch its Bitcoin Layer 2 network solution and publicly disclose the development roadmap.
TRON BTC Layer 2 Development Roadmap
In his tweet, Justin Sun introduced TRON’s development roadmap for BTC Layer 2.
Community Wails: Run Away!
However, it seems that because Justin Sun is a well-known contrarian indicator in the cryptocurrency industry, his tweet’s comments section was flooded with users wailing and advising him not to enter the BTC Layer 2 field:
“I beg you, really, don’t come, bro. BTC L2 is not a good track. Change the track, bro.” “Bitcoin ecosystem, dead on 2.15.” “Big crash, don’t come, this track is full of idiots. It’s all a trap. Can’t sell all the tokens. Don’t bring losses to TRON users, seriously, take advice…” “Alright, you can start shorting now, the most stable indicator has arrived.” “The whole article is full of terms related to ripping off retail investors, almost no technical direction…”
Justin Sun’s History as a Contrarian Indicator
In the history of the cryptocurrency industry, coincidences have occurred multiple times where “whatever Justin Sun plays, crashes.” The community has jokingly referred to Justin Sun as the “cryptocurrency industry’s black swan” and dubbed him “Sun the Ripper.”
Here are some widely circulated instances of Justin Sun’s “contrarian history”:
In 2017, when ICOs (Initial Coin Offerings) were prevalent in the cryptocurrency industry, TRON announced its intention to conduct an ICO. However, a month later, the infamous “94 incident” occurred, and mainland China swiftly cracked down on ICOs, plunging the cryptocurrency industry into its darkest period.
In 2018, Justin Sun attempted IEOs (Initial Exchange Offerings). However, a month later, the entire IEO sector experienced a massive crash.
In 2020, Justin Sun ventured into blockchain finance, and on the day of its launch, the DeFi (Decentralized Finance) sector experienced a market-wide collapse.
In 2021, on the day after the pre-sale of Chain Race’s virtual horse racing, Farm World collapsed, and the entire Chain Race sector experienced a collective plunge.
In 2022, after acquiring Huobi exchange, FTX, a US-based exchange, collapsed ten days later.
In February 2023, when Justin Sun ventured into artificial intelligence (AI), the AI sector experienced a widespread decline.
Related Reports:
Waterdrip Capital Report: The Past, Present, and Future of Bitcoin Layer 2
Cardano Founder: Insufficient Potential for Bitcoin Layer 2, Only Using BTC Halving for Speculation
Vitalik Buterin’s Call: Ethereum Returning to “Crypto Punk” Decentralization Path! Implicitly Satirizing Justin Sun and TRON