Dogecoin founder vents anger, calls cryptocurrency bogus

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Dogecoin co-creator Jackson Palmer took to social media to say he would not be stepping back into the cryptocurrency market. He described crypto as an “inherently right-wing, hyper-capitalist technology”. Usually Palmer is not active on social media. In 2019, he also made his Twitter account private. Even when Dogecoin price hit record highs earlier this year, Palmer did not say anything on the social media platform. However, on Wednesday Palmer used Twitter to vent his anger after a long time. He vented his anger on various cryptocurrencies. He called crypto bogus and “an inherently right-wing, hyper-capitalist technology”.

In his first tweet, the co-creator of Mime Currency stated that he was frequently asked if he would return to the world of crypto tokens. Whereas his answer to that question is wholeheartedly “no”.

In his second tweet, Palmer said the digital currency was created primarily to “enhance the wealth of his supporters” through tax avoidance and regulatory oversight. He said that despite claims of “decentralisation”, a powerful group of wealthy people control the crypto market. He further added that cryptocurrencies are like taking on the worst parts of today’s capitalist system, which include corruption, fraud and inequality.

Similarly, he vented his anger on many other topics in his series of tweets.

In 2015, Palmer announced an “extended leave of absence” from the cryptocurrency community. He called it “toxic” and criticized it for being “white male-dominated”.

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