"Cult-like" - Dogecoin creator declares crypto a SCAM to benefit rich!

Jackson Palmer, the co-creator of the popular altcoin, took to Twitter to BLAST cryptocurrency technology and its community.

“Cryptocurrency is like taking the worst parts of today’s capitalist system (eg. corruption, fraud, inequality) and using software to technically limit the use of interventions (eg. audits, regulation, taxation) which serve as protections or safety nets for the average person,” he wrote.

"The cryptocurrency industry leverages a network of shady business connections, bought influencers and pay-for-play media outlets to perpetuate a cult-like “get rich quick” funnel designed to extract new money from the financially desperate and naive."

Dogecoin was meant to be a joke cryptocurrency that skewered the very nature of the industry. But thanks to Elon Musk, the "memecoin" has turned into the type of thing it was making fun of in the first place.

It seems Jackson Palmer is not laugh