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Jackson Palmer, the co-creator of Dogecoin left fiery comments about the ‘real’ state of the cryptocurrency market on Twitter today and took a peek behind the curtain. Palmer’s claims are straightforward and target the super-rich class of business giants. He confirmed that the crypto industry has promoted exactly the type of financial system it claims to replace. According to him, cryptocurrency is like taking the worst aspects of the current capitalist system like corruption, fraud, inequality, and then using software to technically limit the use of interventions like audits, regulation, taxation that serve as protections or safety nets for the average. nobody.
He exposed how this industry is setting up a bogus “get rich soon” sign to extract new money from the desperate wannabe rich. He admitted that financial exploitation undoubtedly existed before cryptocurrency, but to him, cryptocurrency seems to have been designed on purpose to make the profit funnel more efficient for those at the top and less protected. for vulnerable people. His words were very simple when he wrote: “I think cryptocurrency is inherently right-wing hyper-capitalist technology, designed primarily to amplify the wealth of its supporters through a combination of tax evasion, regulatory oversight. reduced and artificially applied rarity. “
Palmer’s tweet got many people thinking about the real value of a decentralized financial system. On the flip side, some people seem skeptical of the truth behind these tweets, as Palmer himself is the inventor of a cryptocurrency coin, and even a famous coin, called Dogecoin. Rumors say he had recently invested in cryptocurrency. Part of the Twitter world thinks these tweets may be an example of “sour grape” syndrome.
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