"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
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.
*** Xanni ***
Chief Scientist, Xanadu
Partner, Glass Wings
Manager, Serious Cybernetics