Dogecoin ($DOGE) Co-Creator Shares His Thoughts on Crypto Space

In a recent interview, Dogecoin ($DOGE) co-creator Jackson Palmer shared his thoughts on the crypto space, and especially expressed how he felt about Tesla and SpaceX CEO Elon Musk, who happens to be Dogecoin’s most prominent advocate.

Dogecoin was initially released on 6 December 2013, as a “fun and friendly internet currency.” It was created by Billy Markus and Jackson Palmer. It is “a decentralized, peer-to-peer digital currency” that has as its mascot “Doge”, a Shiba Inu (a Japanese breed of dog).

Palmer, who released the first episode of his “GRIFTONOMICS” podcast on May 17, made his comments about crypto during an interview with Australian news outlet Crickey that was published on May 30.

Palmer is not fan of the crypto space because he believes that there is too much hype and that there are too many grifters, i.e. people who are happy to make money dishonestly:

I still see heaps of money being funnelled in by crypto promoters. They’re waiting for a fresh batch of fools to come in. This happens in cycles. You wait for a while for the collective memory of the world to forget about how much of a scam it is. We’ve had ICOs [initial coin offerings], DAOs [decentralised autonomous organisations], now it’s NFT [non-fungible tokens]. Now I’m seeing initial game offerings as the latest thing. 

Sadly I wish it was the end of crypto, but it’s not. More holistically, in this system of griftonomics, hypercapitalism, rentier capitalism, increasingly people are doing nothing but making money off doing nothing, it’s kind of fucked us all up. It’s given people this weird mental issue that things that 5 to 10 years ago people would have the common sense to say ‘that’s weird’, are OK. Now, even if it’s fraudulent, they think ‘do I really care?’

The $DOGE co-creator also talked about Elon Musk, whom he is not a fan of:

He’s a grifter, he sells a vision in hopes that he can one day deliver what he’s promising, but he doesn’t know that. He’s just really good at pretending he knows. That’s very evident with the Tesla full-self-driving promise. About a year ago when Musk was saying something about crypto, I said Elon Musk was and always will be a grifter but the world loves grifters.

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Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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