Tron's CEO Wants To Use Blockchain Games and BitTorrent To Decentralize the Internet (venturebeat.com)

From a report: Last summer, Justin Sun, the 28-year-old CEO of Tron acquired BitTorrent, the 15-year-old file-sharing company that is one of the biggest decentralized networks in existence for $140 million. He wanted to take advantage of blockchain, the decentralized ledger that is both secure and transparent, and combine it with the decentralized file-sharing app, offering crypto rewards to those who share their computers for file sharing. And this week, Sun appeared on stage with former basketball star Kobe Bryant at the NiTron Summit, which drew more than 1,000 attendees. Tron has also created a $100 million fund to convince game developers to make games that use Tron's protocol and its TRX cryptocurrency. The promise is to create a crypto network that is both fast -- at 2,000 transactions per second -- and reliable.

I interviewed Sun backstage at the NiTron Summit, where he said he wanted his company to become the major blockchain platform that could one day be the decentralized alternative to the centralized internet networks of Google, Facebook, and Apple. But to make that happen, Sun has to get mainstream people like the 100 million BitTorrent users to trust cryptocurrency, even after a coin market slide that has wiped out billions in value, including taking Tron's TRX market value down from near $20 billion to $1.6 billion today.

Comments

Fortunately for him, most people are stupid

[raymorris]

> But to make that happen, Sun has to get mainstream people like the 100 million BitTorrent users to trust cryptocurrency, even after a coin market slide that has wiped out billions in value, including taking Tron's TRX market value down from near $20 billion to $1.6 billion today.

Getting most people to trust cryptocurrency isn't going to happen, unless you assume most people are stupid. Fortunately for him, it seems most people are indeed stupid. Just watch the mindless herds of millions of drones the first Tuesday of November.

Re: Fortunately for him, most people are stupid

[raymorris]

> Please explain to me the exact way that our current money system works

Okay:
https://www.class-central.com/...

> and why it is better than crypto currency!

Money is defined as a) a store of value and b) a medium of exchange.

Store of value means I can put $2,000 in the bank today in order to pay my mortgage next month. Crypto faux-currency doesn't do that. You put aside a Randomcoin today, no telling what value it'll have next month, if any.

Medium of exchange means you can advertise your services at $25/hour, or sell tables at $100/table, and then someone who wants a table goes to work, earns $100, and uses it to buy a table from you. *coin doesn't work that way. Something that costs 0.5BTC this morning (actually $1,700) may very well cost 0.7BTC tonight (still $1,700).

Re: Fortunately for him, most people are stupid

[Kjella]

Money is defined as a) a store of value and b) a medium of exchange. (...) Medium of exchange means you can advertise your services at $25/hour, or sell tables at $100/table, and then someone who wants a table goes to work, earns $100, and uses it to buy a table from you. *coin doesn't work that way. Something that costs 0.5BTC this morning (actually $1,700) may very well cost 0.7BTC tonight (still $1,700).

No, actually that's just repeating the first point. Medium of exchange refers to being a universally accepted token of value, unlike a barter economy where you need to find someone who has what you want to barter with. Volatility during transactions is annoying but not really that big a deal because the value goes both up and down, like if you keep working for $25/hour buying $100 tables then on average it'll take four hours. If you're doing it just once it might take two or eight hours if the crypto-coin is booming/tanking that day, but if you're doing it every week you'll be pretty close to $5200 worth of tables for $5200 worth of work after a year. It's no more magic than a farmer who has good crops and bad crops, you should probably add lost crops too because the risk a coin will suddenly crash and burn. You just need the financial buffer to deal with the variation.

Tron's CEO Wants To ... Decentralize the Internet

[grep -v '.*' *]

The promise is to create a crypto network that is both fast -- at 2,000 transactions per second -- and reliable

First you get it fast and then you get it right - right??

Also drones and electrical vehicles

[aglider]

Why not?
All buzzwords in a single marketing claim!

Universal within a certain economy (compare comic

[raymorris]

Universal in this sense means within a certain economy, such as the US. Compare Marvel universe, DC universe.

Everybody in the US either a) has to pay taxes or b) buys things frim someone who has to pay taxes, so everybody has a need for dollars.