Hot Potato: Despite its rapid rise over the past decade, there are still those who believe that cryptocurrency in all its forms is a scam. There is a surprising name on this list of suspects: Jackson Palmer, co-founder of Dogecoin.
Software engineer Palmer, who created the payment system with Billy Marcus in 2013 as a prank based on a "doge" behavior pattern, has been absent since his Twitter account was privatized in 2019. Is. Yesterday he came back with heavy criticism, criticizing cryptocurrencies as a way to make the super-rich rich, and a slight difference with the “stock-centric financial system they supposedly intend to replace.”
“After years of studying it, I believe that cryptocurrency is an inherently right-wing ultra-capital technology that has essentially reduced regulatory oversight to boost the wealth of its supporters through a combination of tax evasion. The shortage is created by synthetic practices.” p>
The cryptocurrency industry uses a network of shady business connections, buys influencers, and pays gaming media to continue the funnel.” Get Rich Quick “A cult like this is designed to extract new money from naïve and desperate financial men.”- Jackson Palmer (@ummjackson) Jul 14, 2021
Crypto is “controlled by a powerful cartel of the rich,” taking advantage of the desperation of the gullible and the gullible, Palmer continued.
“Financial exploitation undoubtedly existed before cryptocurrency, but the coin was designed Almost encrypted to make the funnel more profitable for upstream people and less vulnerable for vulnerable people.” /p>
Forgot your savings account password? Is it your fault to become a victim of fraud? Is it your fault billionaires are manipulating the markets? They are geniuses. Unfortunately ، shil that.- Jackson Palmer (@mmjackson) Jul 14, 2021
Palmer has spoken out against the industry that helped him before. “Something is very wrong,” he wrote in a 2017 Vice Post, when Dogecoin reached $2 billion in the market. Ballmer also noted that he ended any conflict with crypto in 2015. While Dogecoin's value is down about 72% since it peaked in May, its market capitalization is still $25 billion, making it one. Top 10 cryptocurrencies based on market cap. Marcus, Doug's creator, tweeted that Palmer's points were correct, "regardless of the aimless US policy."
This may be the last time we hear back from Palmer. “It often takes years for me to decide whether to go back to crypto or share my thoughts about it over and over again,” he wrote on Twitter. My answer is "No" from the bottom of my heart. “/p>
Image credit: Virrage Photos
Dogecoin Creator Says All Cryptocurrencies Are Scams