Justin Sun has sounded a bit incompetent as of late, but that is likely (hopefully) a language issue...
There has been a lot of drama surrounding the recent Steemit.com acquisition by Tron/Justin Sun.
This drama has mostly come from the contradicting and conflicting statements coming from Sun/Tron pretty much on a daily basis.
The first announcement talked about how he was going to be migrating all of steem over to the tron blockchain.
As you might have guessed this caused quite an uproar as well as confusion by those who know that you can't really just acquire a blockchain...
Then, the very next day he seemed to back off those statements saying that he isn't going to be doing any kind of steem coin exchange/swap any time soon and that he plans on leaving things mostly running as is.
I.E. he plans to mostly just be a silent investor in the background backing steemit and steem with resources to help it be successful.
Fast forward to today and it sounds like is going back on that a bit as a news report said Tron was in the process of migrating steemit.com over to tron.
Plus some ambiguous instructions on how to do the steem coin swap...
Um, what the heck?!
https://steemit.com/steem/@jrcornel/steem-the-confusion-continues-justin-sun-deletes-latest-tweet
Literally no one really knows for sure what to think at this point...
However, I think some of this has to be due to a language barrier and translation issues, it has to be...
Why do I think that?
Everything I have read leads me to believe that Justin is a smart guy.
Some quick internet searches show that he is a protege of Jack Ma. You know the guy that founded one of the largest companies in China, Alibaba?!
Jack Ma apparently recruited 30 students who he believed could help revolutionize the Chinese business world, and Sun was one of his selections:
Sun originally graduated from Peking University with a bachelor degree in 2011. Peking is regarded as one of the best universities in all of China.
Then, two years later, he graduated from the University of Pennsylvania with a Masters Degree in Political Economics.
For those that are not aware, the University of Pennsylvania makes up one of the eight Ivy League Schools.
From there, Sun graduated from the Hupan University Business School as the youngest member in his class where he wrote his thesis on the blockchain industry, calling it "The Birth of a Decentralized Internet".
Hupan Business School was founded by Jack Ma in 2015 and Sun graduated there in 2018.
If he's not dumb, then why all the confusion?
That is a good question and one I don't really have a great answer for.
My guess is that either he hasn't laid out all the specific details of how he is going to do what he wants to do, and or there is a language barrier/translation issue that is preventing him from communicating these details specifically.
I am leaning towards a combination of the two.
Some of the comments coming out seem to show a complete lack of understanding of crypto, blockchain, apps, etc. and that seems odd to me from a guy with his background.
It doesn't mean he isn't just confused on what exactly he bought, but I do think there are some issues with the language barrier which is further supported by the fact he keeps deleting tweets and news stories shortly after they are put out.
My guess is the reason being, they have factual errors in them.
Given all of this, it makes sense for everyone to just sit back and wait to see how things actually unfold...
I'm not saying to do nothing forever, I'm saying it might be best not to do anything until we actually have some facts.
As of right now, it seems the only thing we know for certain is that Sun now owns steemit.com and likely all of steemit,inc as well. Beyond that there are too many contradictions to know for sure what we should believe.
I know I will be continuing on as usual until I see some definitive actions on his part to know what his actual intentions are.
A lot of the biggest mistakes in investing and trading happen when emotions get in the way and actions are taken before all the facts are known.
Sometimes sitting on your hands is the best move you can make.
Stay informed my friends.
-Doc