Dogecoin creator, entrepreneur and programmer Jackson Palmer, interviewed by Australia’s Crikey, said he wished he could say he was seeing the end of crypto, but the day is not here yet.
Cryptocurrencies only fuel a hyper-capitalistic society according to the creator of Dogecoin
Dogecoin, today +5.69% to $0.088, was born in 2013 thanks to Billy Marcus and Jackson Palmer. It has always been an altcoin backed by a large base of supporters and investors including Elon Musk.
Palmer, who has just launched his new podcast Griftonomics, is once again being critical of cryptocurrencies, wishing for nefarious times to come.
The criticism is essentially that many people with no talent and no commitment are making money through cryptocurrencies and this does not sit well with Palmer.
According to him, many cryptocurrencies are in their twilight years and the asset would need a big shock to bring so many digital currency lovers back down to earth.
“I honestly thought the crypto industry was going to implode a little faster and people would learn their lesson but more and more, over the past six months, I’ve seen continued perseverance. You see these big people with a lot of money coming in. involved and that means it’s not slowing down.
I still see a lot of money being channeled by cryptocurrency promoters.
They are waiting for the arrival of a new set of fools, this happens in cycles”.
This was stated in no uncertain terms by the creator of the famous memecoin.
ICOs, DAOs and NFTs according to Palmer are comparable to scams as are the famous Initial Game Offerings (IGOs) which are no less.
ICOs and IGOs are very similar: investors preemptively buy NFTs of a blockchain game or game currencies.
Jackson Palmer: reasons why the crypto market should disappear
Palmer goes on to allude to the end of crypto:
“I think there will be a need for an accident. I think we’re late for some kind of pop, and I don’t think it’s going to be a big boom. It will be much more painful and, unfortunately, when it does, it will likely affect minorities and those [at the lower end] of the socioeconomic spectrum”.
When asked what he thought of Elon Musk, he was laconic:
“He’s a scammer, he sells a vision in hopes of someday doing what he promises, but he doesn’t know it. He’s really good at pretending he knows. My take on him and all the billionaires is that I don’t care much about them”.
Whether J. Palmer’s words are instrumental, a way to promote his new podcast or the result of highly critical thinking, is not known but it is possible to tune in to Griftonimics for interesting insights.