Dogecoin cryptocurrency was created by engineers Jackson Palmer and Billy Markus and released in 2013. The idea was to create an alternative payment system as a satirical answer for the blockchain technology fees and cryptocurrency at the time. Since then, the capital of the cryptocoin has increased dramatically, and Elon Musk has often tweeted how much he likes it.
Two years ago, Jackson Palmer stopped using social media.
Dogecoin’s creator has been avoiding social media since 2019, and his Twitter account became private. However, the software engineer decided to go back on Twitter and remind us all that rich people ruin everything, including cryptocurrency. He tweeted that cryptocurrency is a trading system designed by wealthy capitalists to avoid paying certain taxes and dictate economic growth.
For these reasons, I simply no longer go out of my way to engage in public discussion regarding cryptocurrency. It doesn't align with my politics or belief system, and I don't have the energy to try and discuss that with those unwilling to engage in a grounded conversation.
— Jackson Palmer (@ummjackson) July 14, 2021
Palmer does not believe in cryptocurrency
Palmer wrote some long tweets in which he explained why he is not a crypto-believer. He wrote that the ‘cartel of wealthy people’ dominates everything, including cryptocurrency and that decentralization is not what it seems. He believes that this new blockchain technology can’t escape the control of wealthy people and that it was created precisely for the latter to avoid wasting money on taxes.
Dogecoin: in top 10 cryptocurrencies
According to its market value, Dogecoin is one of the top ten cryptocurrencies, and it hit a 74 cents value this year in May. Articles tie Dogecoin’s success with Elon Musk. The SpaceX founder and soon to be astronaut has tweeted several times about this cryptocoin and even called it his favourite coin.
It is not easy for a nubby on the cryptocurrency market to decide where and how much to invest. The cryptocurrency market remains very volatile and unpredictable. Some of the most known cryptocurrencies are Bitcoin, Ethereum and Dogecoin.