Jackson Palmer, the co-founder of Dogecoin, slammed the cryptocurrency industry calling it ‘inherently right-wing’, ‘hyper-capitalistic’ technology and also criticized Elon Musk, owner of Tesla, for faking to admire Dogecoin.
Jackson Palmer said, “I assume that cryptocurrency is an inherently right-wing, hyper-capitalistic technology mainly built to enhance the wealth of its adherents through a mixture of avoiding tax, reduced regulatory oversight, and unnaturally imposed scarcity.”
I am often asked if I will “return to cryptocurrency” or begin regularly sharing my thoughts on the topic again. My answer is a wholehearted “no”, but to avoid repeating myself I figure it might be worthwhile briefly explaining why here…
— Jackson Palmer (@ummjackson) July 14, 2021
In 2013, Jackson Palmer and Billy Markus created dogecoin as a joke based on the “Doge” meme, which portrays a Shiba Inu dog. Billy Markus and Jackson Palmer didn’t anticipate dogecoin to be taken seriously.
Jackson Palmer opens about his cryptocurrency experience
Since 2014, the Dogecoin co-founder has been absent from the Dogecoin project. Furthermore, he claims that he had never profited a penny from his invention. Jackson Palmer opens up about his cryptocurrency experience on the renowned H3 podcast. He also throws some jabs and accuses Elon Musk, who has frequently praised the joke currency on Twitter, resulting in a large increase in its value in recent months.
Jackson Palmer has previously attacked his creation. He claimed that he was an unintentional partner in the development of this Frankenstein-like swarm of fraudsters, money-launderers, and political misfits. He reviews several of his earlier criticisms in this long podcast.
Specifically, he said, crypto has bred a now-dominant right-wing party, and the uncontrolled nature of crypto has produced a “moths-to-flame” environment for unethical individuals.
When he was involved in 2014, he says that the Occupy Wall Street types were the major pushing factor behind the crypto ethos. On H3, he discusses how this good notion and movement turned into something altogether different. He also said that he feels crypto is “irredeemable,” and he particularly called out MetaMask for being “totally centralised.” He adds everything is “centralised at each and every layer.”
Elon Musk thinks he is “Tony Shark”, Jackson Palmer
Jackson Palmer said that a person who manages all of Musk’s money and assets suggested the idea to adopt Dogecoin and begin tweeting about it. Not particularly to increase the price, but to “build a virtual force as he thinks he’s Tony Stark,” Palmer explains.
Jackson Palmer accused Musk of being “more focused with ego than revenue” and of using Dogecoin to grow his “cult-of-personality” and essentially capture the society for his own purposes. Doge’s co-founder does not believe Elon is “there for memes” or is interested in Dogecoin in any way.
Palmer made an interesting point about how the ‘goal-post’ shifting of the entire idea of crypto indicates that it’s not actually linked to any real-world application or purpose.
He essentially contends that Wall Street and venture money have taken over the space. Palmer has little or no trust in cryptocurrency. He views it as a result of the individuals who have been drawn to it, mixed with weaknesses in the technology.
catch my cofounder jackson (the one who people keep mistaking for me in articles) on the h3h3 podcast talking about crypto silliness and his new podcast 🙂
i recommend listening to jackson about crypto – even if you don’t fully agree, he has a lot of experience and perspective https://t.co/weXj8S2Frl
— Shibetoshi Nakamoto (@BillyM2k) May 21, 2022
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