Stefan Mileschin

Founders refuse to have anything to do with it

As cryptocurrency fanboys desperately try to encourage more people into their Ponzi scheme, early founders of the different currencies are washing their hands ofthe concept.

Dogecoin co-creator Jackson Palmer said there was no way he would ever put money into cryptocurrency calling it “inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity”.

He said that despite claims of 'decentralisation', the cryptocurrency industry is controlled by a powerful cartel of wealthy figures who, with time, have evolved to incorporate many of the same institutions tied to the existing centralised financial system they supposedly set out to replace.

Palmer said that the cryptocurrency industry uses 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.

https://fudzilla.com/news/53239-cryp...-of-confidence