• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Picture of Dogecoin founder Jackson Palmer with a Dogecoin next to him

Dogecoin Co-Founder Says He Doesn’t Plan To Return To Crypto, Here’s Why

Best Owie
by Best Owie
4 years ago
·
Posted in Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Dogecoin and its popularity and growth have been one for the books. The coin had shown tremendous growth in the space of one year. Taking a coin made as a joke which the founders believed would go nowhere to be one of the top gaining coins in the space. In light of Dogecoin’s growth, one of its founders who had earlier sold his crypto to buy an old Honda announced he had bought back into the coin.

Bill Markus had sold all of his coins and exited the crypto world, vowing never to return. But the prosperity of his creation drew him back in and he has started holding some digital assets again.

Related Reading | Serious Jokes: Meme Coins Are Now Worth $33 Billion, Dogecoin Leads The Pack

But this would not be the case for the meme coin’s other founder Jackson Palmer. In response to questions about whether he would ever return to the market, Palmer replied categorically that he had no plans to do so. The Dogecoin co-founder said he would not return to regularly sharing his thoughts about the cryptocurrency market either.

A Cartel Controls The Cryptocurrency Industry

In an attempt to clear the air once and for all, Palmer went on to create a Twitter thread explaining his reasonings. According to Palmer, he believes that crypto is “an inherently right-wing, hyper-capitalist technology.” This, he believes, was built to amplify the wealth of its proponents through a combination of factors. The factors include tax avoidance, diminished regulatory oversight, and artificially enforced scarcity.

It would not be far off base to think this was in reference to the limited supply of bitcoin. This perceived scarcity that one day the world would run out of bitcoins. Hence, gouging the price of the digital asset as everyone rushes to own a piece of it. Dogecoin takes a jab at this imposed scarcity by having no supply limit or cap.

Dogecoin price chart from TradingView.com

Dogecoin price currently trading below $0.20 | Source: DOGEUSD on TradingView.com

Jackson Palmer also expanded further on his thoughts on decentralization. Decentralization has always been one of the big pulls of digital assets. A currency that isn’t controlled by anyone would mean that players would not be able to manipulate it on a whim for their benefit. But apparently, this is not the case.

A powerful cartel still controls the system, Palmer wrote. Making “decentralization” basically a smokescreen to mask what was actually going on behind the scenes.

Cryptos Like Dogecoin Are A Get Rich Quick Scheme

Palmer explained in the following tweet that crypto was simply a “get rich quick” funnel that was designed to extract money from financially desperate and naive people. According to him, the crypto industry takes the worst parts of capitalism. And then uses software to limit the interventions which would serve as safety nets.

Related Reading | Meme Coins Dogecoin And Shiba Inu Record Highest Losses As Crypto Trading Volume Tanked

Concluding his threat, Palmer opined that having a good-faith debate is now near impossible in the market. And thus, this has fueled his passion for staying away from the crypto industry.

Given these reasons, the Dogecoin co-founder laid out that he no longer went out of his way to talk about cryptos. As he does not possess the energy to engage in debates with people unwilling to have a grounded conversation. The full Twitter thread is available here.

Featured image from Ethereum World News, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Best Owie

Best Owie

Follow

Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.

Full Profile

Related Posts

DOGE ETF crypto hype: kan Dogecoin 1 euro worden

Dogecoin ETF Scores DTCC Website Listing, Only More More Step Before It Starts Trading

1 day ago
Dogecoin news

Dogecoin Price at $0.24 Faces Pressure as 21Shares DOGE ETF Lists on DTCC

2 days ago
Dogecoin

Analyst Calls Out Fourth Dogecoin Price Rally To Result In 520% Gains

2 days ago
Bitcoin news

Bitcoin Poised To Rival Gold In Central Bank Vaults By 2030: Deutsche Bank

3 days ago
Dogecoin

GROK AI Predicts How High Dogecoin Price Will Be If Bitcoin Hits $10 Trillion Market Cap

3 days ago
DOGE koers stijgt na Elon Musk statement - kan Dogecoin 1 euro worden?

What To Expect For The Dogecoin Price Over The Weekend

6 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    10 hours ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    2 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    3 days ago
  • Snorter надхвърли $4 милиона след...

    4 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.