On June 4, Billy Markus, the co-founder of Dogecoin with Jackson Palmer in 2013, tweets about his views about why the cryptocurrency world is “full of scammers.”
After leaving the Dogecoin development team, Markus, also known on Twitter as “Shibetoshi Nakamoto,” tweets often, commenting on DOGE and the crypto sector in general.
Markus says that frauds often occur in the crypto space because the community is unable to govern the space and cleanse it of fraudsters—”it does a terrible job of regulating itself.”
Rather than going after fraudsters and scammers, the crypto sector “enables and protects scammers.”
As a result of the community’s “chronic behaviour,” he stated, the crypto sector “gets what it deserves.”
Markus began a thread about it after complaining that he has been a target for “the most terrible rubbish individuals in the crypto field” since the creation of Dogecoin 8 years ago.
Previously, Jackson Palmer, the other co-founder of DOGE, remarked in an interview with the Sydney Morning Herald that the crypto sphere is a “parasitic” technology that allows a large number of frauds to occur on a regular basis, bringing up all kinds of them.
Palmer said that many people are drawn to cryptocurrency because it continues to promise quick profits and because of celebrity endorsements in the vast sector. He referenced NFTs, which were championed by celebrities but would have been laughed at five years ago.
Jackson has lately attacked prominent Dogecoin supporter and billionaire Elon Musk, calling him a “grifter.”
