The Creator of Dogecoin Says He Now Believes That All Cryptocurrency Is Horrible

Tue, 20 Jul 2021 06:11:20 +1000

Andrew Pam <xanni [at] glasswings.com.au>

Andrew Pam
https://futurism.com/creator-dogecoin-cryptocurrencies-horrible

"In a scathing — and eye-opening — Twitter thread, the co-creator of popular
altcoin Dogecoin, Jackson Palmer, eviscerated the technology and community
behind cryptocurrencies in general.

It was a blistering takedown.

“After years of studying it,” Palmer wrote, “I believe that cryptocurrency is
an inherently right-wing, hyper-capitalistic technology built primarily to
amplify the wealth of its proponents through a combination of tax avoidance,
diminished regulatory oversight and artificially enforced scarcity.”

The thread makes it very clear that — unlike Dogecoin co-creator Billy Markus,
who recently decided to invest in the token himself — Palmer believes the
crypto industry promotes exactly the kind of financial systems it claims to
replace.

It’s also a convincingly argued reminder that cryptocurrencies offer very
little in terms of protection to those they end up victimizing."

Via Kevin O'Brien.

Cheers,
       *** Xanni ***
--
mailto:xanni@xanadu.net               Andrew Pam
http://xanadu.com.au/                 Chief Scientist, Xanadu
https://glasswings.com.au/            Partner, Glass Wings
https://sericyb.com.au/               Manager, Serious Cybernetics

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