Jackson Palmer, the co-founder of the joke-based coin i.e., Dogecoin, has put the entire cryptocurrency industry as well as its investors on blast in a hostile thread of Tweets this Wednesday.
Palmer, who was behind the creation of the extremely popular crypto coin in 2013, let loose in a lengthy Twitter thread regarding whether he would consider returning to crypto. To put it briefly, his answer is a resounding “no” in his second to last Tweet regarding his ordeal. According to him, cryptocurrency is inequitable and right-wing.
Palmer also argued that the cryptocurrency industry is under the control of a powerful syndicate of wealthy figures, ones who have grown to incorporate a lot of the same institutions associated with the existing central finance system they presumably set forth to supersede.
Palmer then continued to state that cryptocurrency is not easy to use, with consumers either being blamed for forgotten passwords or falling for crypto-related scams.
Palmer, who was silent during his co-founded currency’s rise this year, also bashed the technology, laying claim that it has been generated to put a limit on user protections. In his opinion, crypto is an amalgamation of the worst parts of the capitalist system today.
He accepted that crypto is not in line with his politics or beliefs system. He also stated that he is not interested in counterarguments due to the fact that he does not have the strength to attempt conversing with those not willing to take part in a “grounded” conversation. To further prove it, he disabled the ability to reply to his Tweets.
Palmer declared in 2015 that he was going to take a long-term leave from the cryptocurrency industry, which in his words, was toxic. Later in 2018, he revealed to Vice that he did not make any profits from his co-founded Dogecoin project.