Dogecoin Co-Creator Claims Elon Musk Is a “Crogue” and Crypto Bubble Burst Is Imminent | Elon Musk | Cryptocurrency

The Australian co-creator of Dogecoin described Elon Musk as a “scammerwhich sells a vision it claims to understand when it doesn’t even know how to make basic code work.

Jackson Palmer is an Australian-born software developer who created Dogecoin. He stopped working on this cryptocurrency in 2015 and has since denounced this technology.

In a rare interview with Crikeyhe talked about Elon Musk, the “winter” of cryptocurrencies and the generalization of rentier capitalism.

Jackson Palmer says he spoke with Elon Musk on Twitter after he developed a script to automatically flag cryptocurrency scams in a user’s replies: “Elon contacted me to get this script and it became apparent very quickly that he didn’t understand coding as well as he claimed. He asked, “How can I run this Python script?

Elon Musk has been promoting dogecoin and mentions of memecoin just this week sent its value skyrocketing. But Palmer is clearly not a fan of Musk.

“About a year ago when Musk was saying something about crypto, I said Elon Musk was and always will be a crook, but the world loves crooks,” Palmer said.

“They like the idea that they too can be billionaires one day, and that’s the dream he’s selling.”

Palmer thinks Musk’s attempt at Twitter is a ploy to either destroy the platform or at least depress its value further. He wants proof of the frequent criticism of the billionaire since the announcement of the takeover offer.

His game is either to dismantle all trust, or he may be delusional enough to think he can build an alternative. The other alternative is that he wants to drive it into the ground at a much lower price, and I think he does“, did he declare.

Palmer also believes that the current decline in cryptocurrency prices has not prevented a large flow of investment. He expects there to be a bigger and longer bubble burst at some point in the future.

It will be much more painful and, unfortunately, it will likely affect minorities and those at the bottom of the socio-economic spectrum when it happens. So when the people who were duped, the people who were sold on Matt Damon’s ad and put their retirement fund in, unfortunately those are the people who are going to be affected.

According to Palmer, one of the benefits of the current downturn is that more people are paying attention to the flaws in cryptocurrencies and the community around them: “There was a realization. They realize that it’s really crap. They see the cracks in the paint“.

He even sees more support for his cryptocurrency skepticism from people still involved in the community. But their newfound self-awareness doesn’t necessarily drive them out of the cryptocurrency scene.

“When I say it’s a Ponzi scheme, the answer is ‘so what, the world is a pyramid scheme,'” Palmer said.

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Dogecoin Co-Creator Claims Elon Musk Is a “Crogue” and Crypto Bubble Burst Is Imminent | Elon Musk | Cryptocurrency

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