Home Blockchain Justin Sun TRON (TRX) on I don’t think China can Crack Down Crypto Overnight

Justin Sun TRON (TRX) on I don’t think China can Crack Down Crypto Overnight

Tron TRX

When asked in a Bloomberg interview of whether the price volatility has compelled people to trade more, Justin Sun replied:

Yes. Definitely.  I see it is a price adjustment and we will see boom markets in July and August. I still believe the boom market is still there and we will continue to see developments of cryptocurrency.

For example, Tether on TRON this year has been experiencing explosive growth.  We have growth from a 100 million dollars to almost 30 billion dollars today. And, I believe this year we will continue to grow to 100 billion dollars on TRON network. And, out global settlement amounts has surpassed PayPal. Right now we are 5 times what PayPal is doing. Our daily settlement is 10 billion dollars, whereas PayPal is only 2 billion dollars per day. So, I definitely have confidence in our industry.

When asked:  People have been perhaps trying to eat in to that confidence. Let’s not forget various other financial institutions who could actually be changing their minds on the cryptocurrencies. On top of that Elon Musk also is very, very opaque as to what he is being up to? So, all these things must create an undermined confidence.  It is isn’t it?

Justin Sun expressed:  I believe Elon Musk is concerned about whether the cryptocurrency is legit. Cryptocurrency industry definitely need to find a green solution for cryptocurrency.  I definitely have seen a lot of miners they have established alliance to tackle this problem by using green energy rather than coal energy. And, also same time people I think have their eyes on PoS means Proof of Stake rather than Proof of Work.  PoW is currently used by Bitcoin, trying to reduce the carbon and energy by 99%

For example, at TRON we use DPOS which is one of the most popular consensus mechanism in cryptocurrency, which we reduce the energy consumption by 99%, but also improve the efficiency by 100 times.

When asked should you be concerned by the warnings from China against crypto mining? Why has it been so volatile in that space? Yes, Definitely, China’s recent news about crypto is very important. But there is no thing or person or factor that can control the market. I believe the adjustment of the crypto market is because it has been up the whole year. I think we need to see some adjustment come in the right time. But, I believe even today, China is trying to put more stake regulation on crypto, but still crypto is going to grow in China like most of the country do. I don’t think China can crack down crypto overnight.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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