Connect with us


“The cryptocurrency is controlled by a powerful cartel of rich people” – the creator of Dogecoin explained why he does not plan to return to cryptocurrency



The creator of Dogecoin compares the cryptocurrency industry to a scam controlled by a powerful cartel of wealthy people for their own benefit.

Jackson Palmer created Dogecoin in 2013, but today he believes that cryptocurrencies have attracted “shark-like scammers and opportunists.” This week, he published a series of messages denouncing Bitcoin, Ether and other cryptocurrencies, saying they resemble the massive Ponzi scheme for “extracting new money from desperate and naive people.”

After years of research, I believe that cryptocurrency is inherently a hypercapitalist technology designed primarily to increase the well-being of its supporters through a combination of tax evasion, relaxation of regulatory oversight, and artificially created scarcity.

Jackson Palmer

He also added that the cryptocurrency industry is using a network of dubious business connections, buying influencers and paid media to “perpetuate the iconic get-rich-quick funnel designed to extract new money from financially desperate and naive people.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Latest News

Software34 mins ago

Microsoft has made it easier to install the Linux subsystem for Windows. In Windows 10 and Windows 11, this is now done with one command

According to the source, in the latest builds of Windows Insider Preview, it became possible to install the Linux subsystem...

Software3 hours ago

MIUI 13 will not be released in August, but the shell will be released before the end of the year

Rumors that MIUI 13 will not be released in August have been confirmed at the official level. Wang Hua, a...

Phones3 hours ago

Huawei P50 Pro did not receive an inch image sensor, but that did not stop it from becoming the best camera phone in the world

Huawei did not go into the detailed specifications of all modules of the main camera of the P50 Pro smartphone...

Phones4 hours ago

Mi Mix 4 with a quad camera and an additional screen showed on new renders

New renders of the promising Mi Mix 4 smartphone have appeared on the Web – it is expected to premiere...

Phones4 hours ago

Android 12 testing has begun for Poco F2 Pro and Redmi K30 Pro. Published an updated list of smartphones Xiaomi, Redmi and Poco, which will receive Android 12

The source has published an updated list of smartphones Xiaomi, Redmi and Poco, which will receive an update to Android...

Electric Cars5 hours ago

GAC and Huawei create luxury electric vehicle brand. The first car of the new company will appear in 2023, and it will be an SUV.

Huawei has a ready-made solution for the construction of electric vehicles in its portfolio: it includes a platform, power plants,...

News5 hours ago

Video of the most difficult flight of the Martian helicopter Ingenuity has become available

A few days ago, the Ingenuity helicopter made its most difficult flight, and now we can appreciate the video and...

News5 hours ago

5000mAh and dual camera are inexpensive. Samsung Galaxy A03s is preparing to debut

According to the source, on the Indian version of the Samsung website, a page was found dedicated to solving technical...


Most Popular