Heavy Criticism of Cryptocurrencies from the Founder of Dogecoin

Especially Elon Musk’s along with his posts Dogecoin, managed to take its place in the middle of the crypto money that was the most news bet of the last period. Jackson Palmer, one of the founders of this internet meme-concept crypto money, which has a large volume, has made a very hard debut in crypto.

Palmer, who made quite harsh statements on his Twitter account, Dogecoin described it as a hyper-capitalist technology built to increase the wealth of supporters. On the other hand, this is not Palmer’s first statement against cryptocurrencies.

Palmer spoke harshly

Jackson Palmer, in a statement on his Twitter account “After years of study, cryptocurrencies are essentially based on a combination of tax avoidance, reduced regulatory control, and artificially imposed scarcity. to increase the wealth of its supporters I believe it is a right-wing, hyper-capitalist technology built with prestige at its core” used the words.

Palmer also states that cryptocurrencies do not keep individuals away from financial institutions and do not reduce centralization, as claimed by its proponents. “a strong group of powerful figures that have evolved over time to include many of the peer-to-peer institutions linked to the existing central financial system that they claim to replace. by cartelchecked” stated.

Cryptocurrency is a cult/sect” similes Palmer also underlined that this trend is similar to the get-rich-quick trend. In addition, while cryptocurrencies facilitate profiteering for those at the top, makes the vulnerable less vulnerable too thesis.

Cryptos continue to be discussed

In many countries before new regulations on cryptocurrencies steps were taken. Palmer also said that cryptocurrencies exacerbate corruption, fraud and tax evasion, while even defrauding users is seen as user error.

While some countries are preparing to accept cryptocurrencies as their own currencies, some countries are opposing by explaining that they see them as non-real money. We will see what the result will be in the future.


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