The co-creator of Dogecoin, which was a cryptocurrency that was essentially just a joke until Elon Musk started talking it up, does not have a favorable opinion of the Tesla CEO billionaire.
Jackson Palmer, in an interview with the independent Australian news website Crikey, expressed his skepticism about Elon Musk, starting with the very first time that the two of them engaged with one another.
He stated that Musk enquired about a bot that Palmer had written to detect bitcoin frauds on social media and that’s when the two began exchanging messages on Twitter with one another.
“Elon reached out to me to get hold of that script and it became apparent very quickly that he didn’t understand coding as well as he made out,” said Jackson. “After I gave him the script, I wasn’t a fan of him,” he continued. “He’s a grifter, he sells a vision in hopes that he can one day deliver what he’s promising, but he doesn’t know that. He’s just really good at pretending he knows.”
In 2013, Palmer helped to develop Dogecoin as a satirical alternative to Bitcoin, which was a very new and unheard-of financial innovation at the time. In contrast to Bitcoin, of which only a finite number may ever exist, the number of potential Dogecoin’s is endless; this raises serious questions about the currency’s worth.
Dogecoin continued to be a joke up until when Elon Musk started marketing the coin on Twitter, which caused a significant increase in the value of the currency, and as we all know, a frenzy in buying of the joke coin started.
In one of his posts, Musk tweeted a photoshopped image of himself acting as Rafiki from “The Lion King” while hoisting the Shiba Inu that serves as the Dogecoin mascot to the sky.
In another, Musk referred to the coin as “the people’s crypto” and made a suggestion that it was on its way “to the moon.” This is a typical theme among cryptocurrency enthusiasts who are bullish about the trajectory of their portfolios.
“About a year ago when Musk was saying something about crypto, I said Elon Musk was and always will be a grifter but the world loves grifters,” Palmer told Crikey, using Musks’s promise of full-self-driving Teslas as evidence of him being a “grifter”.
Commenting on Musk’s acquisition of Twitter, Jackson says. “His play is to either dismantle all trust, or maybe he’s delusional enough to think he can build an alternative,” he said. “The other alternative is that he wants to drive it into the ground at a much lower price, and I think that’s what he’s doing.”
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