Jackson Palmer – one of Dogecoin’s founders – sees the cryptocurrency space as an ecosystem where wealthy people are getting even more prosperous on the back of tax avoidance or scammed individuals. He thinks the market’s current decline will not last long, regretting the end of crypto is not near. Palmer is a well-known crypto critic, and his latest outburst doesn’t come much as a surprise.
Even if Crypto is a Scam, People Don’t Care
In 2013 the software engineer Jackson Palmer co-created one of the most popular memecoins – Dogecoin. Years later, the asset’s market valuation soared into the billions, while he claimed cryptocurrencies have become an attractive feature for “shark-like scammers and opportunists.”
Last summer, Palmer went even further, labeling the digital asset sector as a “right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight, and artificial enforced scarcity.”
In a recent interview for the Australian media Crickey, he reiterated his anti-crypto stance. Palmer argued the current collapse of the market could not classify as a “crypto winter” as promoters continue to funnel money into the industry.
“They’re waiting for a fresh batch of fools to come in. This happens in cycles. You wait for a while for the collective memory of the world to forget about how much of a scam it is.”
