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Crypto is nothing but just like online casino for digital chips: Doge co-founder

On June 12, Doge co-founder Jackson Palmer made his appearance on The project, a TV chat show. In a chat show Jackson Palmer stated that cryptocurrency is a speculative market because it doesn’t provide anything to society. As one person can’t buy groceries and can’t pay rent bills. For him crypto is just like an online casino for digital chips. As per Palmer When someone buys cryptocurrency, he or she is essentially buying a receipt, according to him.

“Other people in the world will honour that receipt. I think it’s a little bit of a house of cards personally.”

Dogecoin co-founder Jackson Palmer expressed that cryptocurrencies facilitate frauds. Jackson Palmer founded Dogecoin as a joke and abandoned the project before it became famous.

After becoming dissatisfied with the cryptocurrency ecosystem, Palmer left the Dogecoin project shortly after its creation. He stressed that he didn’t preserve any of the crypto and he’s delighted he hasn’t become wealthy with Dogecoin since then.

Dogecoin Co-Founder stated:

“Because it is this thing that exists outside of the control of the government, because it is this irreversible transaction, it really has provided a means for scammers to come in and do all this stuff without that pesky.”

He noted the fact that cryptocurrencies are unregulated, they are used for a variety of illegal activities. He also discussed different ads in which celebrities promote cryptocurrencies and cryptocurrency applications, cautioning consumers that they are purely for business purposes.

Palmer responded to a question on how individuals make a lot of money in crypto by saying:

“There is nothing there to stop people from being lucky. Some people happen to be at the right place at the right time.”

At the time of writing, Dogecoin’s current price is $0.054935 USD, with a 24-hour trading volume of $1,207,440,222 USD. In the last 24 hours, Dogecoin has dropped 16.51%.

Read more:

Dogecoin Core developer announces plan for release of upcoming update v1.14.6

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