According to Owen Simonin aka Hasheur, Dogecoin is the most lucrative joke of the 21 st century. With a capitalization of over $10 billion, eight times less than its peak in 2021, this joke taken seriously by some of the geniuses of this world has become the bête noire of one of its creators.
Jackson Palmer, a visceral hatred of Dogecoin and cryptocurrencies
Dogecoin, inspired by the famous doge meme that represents a Shiba Inu, was created by Billy Markus aka Shibetoshi Nakamoto and Jackson Palmer.
Like every memecoin, it has a fan club of the most prestigious and influential crypto-enthusiasts. Dogecoin even has a non-profit foundation.
Among the five renowned advisors of this institution, we find Vitalik Buterin, the creator of the Ethereum blockchain and Jared Birchall who represents the famous entrepreneur Elon Musk.
The foundation aims to support the strategic development of blockchain and the promotion of the Dogecoin ecosystem in its blockchain, crypto, financial and legal aspects. Enough to allow the cryptocurrency to continue to look forward to its future with peace of mind.
Alas, while a star always has its fans, it also has its detractors and haters. The irony of Dogecoin being that its main detractor is none other than Jackson Palmer, one of its founders! The latter will not only attack his creation, members of the crypto community, but also some alleged members of the foundation, such as Elon Musk.
“Cryptocurrencies are inherently right-wing and ultra-capitalist technologies, enabling tax evasion, unregulated and artificially maintained in scarcity.”Jackson Palmer, co-founder of Dogecoin
A vision that does not date from yesterday as evidenced by the tweets:
A vision that is still relevant today, Palmer having called Elon Musk a swindler on May 30, 2022, in an interview for the Australian media Crikey, talking about the hypothetical purchase of the social network Twitter by the latter.
Not to be outdone, Elon Musk retorted in a scathing tweet that Jackson was a poor developer.
Why so much hate, you might ask? Well, because Palmer can’t stand the speculation around the unregulated cryptocurrency market. A market where manipulation is de rigueur and where insider trading and scams prey on small holders to enrich the richest. A deeply right-wing and ultra-capitalist market.
The Dogecoin was originally launched as a joke to criticize this market that he hates so much, it is normal that he does not appreciate to see it become the symbol of the richest man in the world.
Do not displease him, Tesla and SpaceX have just accepted the Dogecoin as a payment method. This news announced on twitter by the undisputed master of manipulation, made the price of the crypto jump by 15%.
In the crypto market, which has more than 20,000 different crypto currencies with a capitalization of $1264 billion, memecoins including Dogecoin, but also the famous Shiba Inu, have managed to stand out. In addition to being among the largest market capitalizations, they can count on a real army to support them. But, in an ecosystem where everything is going faster and faster, will they be able to resist the attacks of detractors and the increasingly present regulation?
Co-founder of Coinpri, Expert in blockchain and NFT, I vulgarize the new web3 and blockchain paradigm here.