The co-creator of popular crypto asset Dogecoin (DOGE) has reportedly issued a warning that the crypto has yet to reach the hibernation stage despite the massive devaluation of all assets in the space.
According to a new report by Australian news outlet Crikey News, Jackson Palmer, who along with Billy Markus developed Dogecoin in 2013 as a joke, says we’re not in a crypto winter yet as money continues to flow into the industry from developers. digital assets.
It also hints that Digital Assets might be a scam that people haven’t noticed yet.
“I wouldn’t say it’s winter. I still see heaps of money funneled in by crypto promoters. They are waiting for the arrival of a new group of fools. It happens in cycles. You wait a while for the collective memory of the world to forget how much of a scam it is.
We had ICOs [initial coin offerings]CAD [decentralized autonomous organizations]. Now it’s NFT [non-fungible tokens]. Now, I see initial game offerings as the latest thing.
According to Jackson, crypto assets are a way for scammers to make money without doing anything, which worsens the landscape of the economy.
“Unfortunately, I wish that was the end of crypto, but it’s not. More holistically, in this system of griftonomy, hypercapitalism, rentier capitalism, more and more people do nothing but make money doing nothing, it fucks us all up.
It’s given people this weird mental issue that the things that five to ten years ago people would have had the good sense to say, “That’s weird,” it’s okay. Now, even if it’s fraudulent, they think ‘Do I really care?’
Last year, Jackson sparked a viral storm on Twitter by criticizing digital assets and calling the decentralization and sound money mantras “fronts” and “get-rich-quick schemes” that the wealthy use to attract money. financially desperate individuals in traps and dodging taxes.
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.
Feature image: Shutterstock/Natalia Siiatovskaia/Tithi Luadthong