Categories: Market

Dogecoin Creator: “Super Rich People Control Cryptocurrencies”

Jackson Palmer – co-creator of Dogecoin – insists he won’t go back to cryptocurrencies.

On July 15, Jackson Palmer wrote on Twitter: “I’m often asked if I’m going back to crypto. My answer is no. “

“The cryptocurrency industry is described as being decentralized, but it is actually controlled by a network of the super-rich. Over time, the cryptocurrency industry has been linked to many institutions that play an important role in the centralized financial system,” said Palmer.

In 2013, Palmer and Billy Markus invented Dogecoin as a joke. Today, however, Dogecoin is among the top 10 most popular cryptocurrencies in the world. Earlier this year, the price of Dogecoin rose to record levels $ 0.74/ dong before falling.

Jackson Palmer (right) and Billy Markusm, the two “fathers” of Dogecoin. Photo: TechCrunch.

Despite creating Dogecoin, Markus and Palmer made no profit as they sold out when Dogecoin price rose like a hurricane.

Palmer also heavily criticized the way cryptocurrencies were advertised. “The crypto industry leverages a network of shady business relationships, KOLs, and paid media to realize the dream of getting rich in the blink of an eye and then capitalizing on the dream of hand investors,” he wrote.

Palmer believes the average person is prone to crashing into the cryptocurrency market. He also warned that cryptocurrencies can easily become a scam tool.

Linh Do

Zing.vn

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