On December 9, 2022, H.E. Justin Sun visited CryptoFace for a casual yet engaging YouTube interview.
Here were the highlights from the conversation:
# 1 – TRON was created to be the settlement layer for all internet transactions in the future.
CryptoFace asserted in frustration that Bitcoin was supposed to be a currency, but now it’s a store of value. When asked about TRON’s intended purpose, Sun responded that TRON was created to be the settlement blockchain layer for all web3 transactions. That’s why TRON integrated stablecoins like USDC and USDT, and why they developed stablecoins like USDD and CNHT – a new stablecoin created by Tether on the TRON blockchain that is pegged to the offshore YUAN. Sun noted that even in a bearish year, TRON has seen nothing but growth in 2022, now (as of the interview) having 120 million active users and more than 8 million transactions per day.
# 2 – TRX has proven itself as a trusted currency forecasted to be used at a burn rate of between 5 to 10 billion in 2023.
CryptoFace pulled up some market charts and displayed the stability of TRX, based on the chart. “This is more like currency,” he said, comparing it to Bitcoin. Sun agreed and highlighted that in 2023, based on currency usage and dApp use cases being built on TRON, there will likely be 5 to 10 billion TRX burned. It is certainly more like a usable currency than Bitcoin.
“It sounds like you are hyper-focused on currency,” CryptoFace noted, which he declared was not the focus of most leaders in the crypto industry. “That’s why you are kicking a$$. Is anyone else focusing on it like that?”
Sun said he believes TRON is the only protocol focused on crypto as everyday, usable currency in that way.
# 3 Huobi offers high-yield returns in sustainable ways.
With the fall of all the high-yield offering companies mismanaging customer money, CryptoFace asked Sun whether Huobi offers some type of yield like that, and if so, “Why are you different from those guys?”
Sun said he felt like it was okay for companies to offer users high-yield returns, as long as the company has a sustainable business model. “With Huobi, for example, we are offering a 15% APY for those who hold less than $1K.” Users can stake smaller amounts and receive a high yield. In contrast, Sun said, “If you hold a huge amount, the APY is more like 1 to 3%. Otherwise, it’s not sustainable.”
Sun said Huobi is making $1 million every day, so it’s able to pay those types of yields to benefit its customers with smaller total assets. That’s something no bank has ever done for small customers. “It’s consistent and sustainable, so we earn money and share it with our users.”
# 4 – China will drive the next bull market, and Bitcoin will pass $200K in value.
CryptoFace said his brother wanted him to ask the next question. “What will China’s role in crypto be over the next few years?”
“I joined crypto around 2012. So, in the past 10 years, we saw three crypto bull markets — 2013, 2017, and 2021. The Chinese dominated the first two. Bitcoin prices went up big in both of those. In 2021, it was the only bull market driven by US markets, because the US Federal Reserve kept minting U.S. dollars, and it flooded the crypto market. I think the next bull market will be driven by the Chinese and Asian markets.”
That’s why TRON partnered with Tether to create a stablecoin pegged to the offshore YUAN.
“I think we are talking about trillions of dollars flowing into the crypto industry. Bitcoin could easily pass $200K.”
# 5 – “Wow. Yes. I do believe in aliens,” Sun said.
Space became the topic of discussion as the interview was coming to a close. CryptoFace wondered when Sun was finally going to go to space.
“Are you going to have to go through G-Force tests before you do that?” CryptoFace sounded intrigued.
“We have a 10-day or so training and then have to pass tests to go. I will need to do better exercise,” Sun said jovially.
Then CryptoFace asked Sun if he believes in aliens.
“Wow. Yes, I do believe in aliens.”
CryptoFace was psyched. “Whoa! If you see one in space, what do you think you’ll do? Will you tell people you saw some sh*t in space?”
“If I do, I will share it with everybody,” Sun assured him.
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