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Dogecoin founder calculates: “Billionaires who manipulate prices are adored as geniuses”

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Dogecoin founder calculates: “Billionaires who manipulate prices are adored as geniuses”

The Dogecoin founder has had enough of crypto.

The Dogecoin founder has had enough of crypto.

Photo: Getty Images / Jakub Porzycki / NurPhoto

Jackson Palmer goes tough with cryptocurrencies and comes up with a tough verdict. It is a fraud from which only the rich would benefit.

Jackson Palmer, co-founder of the Dogecoin cryptocurrency, disappeared from the scene. At that time, Palmer deleted his YouTube channel and only used Twitter privately.

Dogecoin co-founder Jackson Palmer saw crypto as a failure as early as 2019

Palmer announced in February 2019 that he considered the crypto experiment to have failed, as the Coin Kurier reported at the time. Such currencies would only have made an inadequate contribution to society.

Palmer had to listen to a lot of criticism as a result. Now the co-founder of Doge speaks up again. Gizmodo reported about it. He was regularly asked if he would return. “My answer is clearly no,” writes Doge’s co-founder on Twitter.

Palmer: cryptocurrencies are “turbo-capitalist technologies”

But back to now. Palmer’s view is that cryptocurrencies are “right-wing, turbo-capitalist technologies that only rich people benefit from.”

“The crypto industry consists of a network of dodgy business connections and bought influencers who promise investors that you can get rich quickly,” continues Palmer.

Instead, only industry would benefit from the system. Investors are “naive and desperate” and are being exploited.

Dogecoin co-founder: Cryptocurrencies are used for exploitation

Of course, there was financial exploitation before. “But cryptocurrencies are made for it”.

Dogecoin co-founder Palmer also criticizes the risk of losing all the money. “Billionaires who manipulate prices are adored as geniuses,” he continues.

Elon Musk rigged Bitcoin price

Obviously, Palmer is alluding to Elon Musk, Tesla boss, who has already influenced Bitcoin prices several times with tweets. Ethereum was also affected.

Palmer’s colleague and also co-founder of Dogecoin, agrees that “some arguments are in hand”. It remains to be seen how the crypto scene will react to Palmer’s arguments.

Source: Gizmodo

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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