Dogecoin Co-Founder Says Crypto Is Scam

Alex Dovbnya

That said, Dogecoin co-founder doesn’t believe crypto itself is a scam

In a recent interview With The Project, Dogecoin co-founder Jackson Palmer said that cryptocurrencies are the facilitator of scams:

Because it’s this thing that exists outside of the control of the government, because it’s this irreversible transaction, it’s really provided a means for scammers to come in and do all these things without that annoying thing.

However, the Australian software developer did not go so far as to claim that crypto itself is a scam.

Palmer reiterated that he thought the cryptocurrency was a joke, so he didn’t keep any of it.

He walked away from the project shortly after its conception after getting frustrated with the cryptocurrency community.

The software developer has admitted to being happy that he hasn’t gotten rich with Dogecoin since then. Crypto millionaires, oblivious to the fact that other people are losing money, usually wear rose-colored glasses, Palmer says.

As reported by U.Today, Palmer recently made headlines after wrestling with Tesla CEO Elon Musk.

The co-founder of Dogecoin has repeatedly labeled the centibillionaire a “grifter.”

During the most recent interview, Palmer also took a look at celebrities promoting cryptocurrencies and crypto trading platforms, claiming that everyone has a price.

While people also tend to lose a lot of money with stocks, Palmer points out that those markets are highly regulated.

Many people who live lavish lives in crypto usually run exchanges or other vital businesses. “For each of those people, there are probably ten or maybe even a hundred people who haven’t been lucky,” Palmer emphasized.

Dogecoin, the largest meme cryptocurrency, is down more than 90% from its record high.

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