Cryptocurrency is sex video extortionemailrotten to the core.
So argues the co-founder of Dogecoin, Jackson Palmer, in a long Twitter thread published Wednesday which is sure to spark backlash among the crypto faithful. Palmer makes the case that, contrary to utopian promises of decentralized finance and banking the unbanked, crypto as it actually exists in the world merely serves to help the rich get richer.
"After years of studying it, I believe that cryptocurrency is an 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 writes.
This Tweet is currently unavailable. It might be loading or has been removed.
Palmer goes on the argue that cryptocurrency institutions have all the undesirable traits of more traditional financial markets and institutions, but with none of the safeguards.
It's the worst of both worlds, in other words.
"Financial exploitation undoubtedly existed before cryptocurrency, but cryptocurrency is almost purpose built to make the funnel of profiteering more efficient for those at the top and less safeguarded for the vulnerable," he continues.
This Tweet is currently unavailable. It might be loading or has been removed.
Indeed, the cryptocurrency ecosystem is notoriously fraud ridden. In 2018, a study found that almost 80 percent of initial coin offerings the previous year were scams. Major exchanges steal from their customers with surprising regularity, and even the big and supposedly reputable players like Coinbase and Binance have struggled to fulfill basic promises.
And that doesn't even begin to scratch the surface of shady pump-and-dump schemes helmed by unscrupulous celebrities.
Palmer points out that even when things are working as they're supposed to, the world of cryptocurrency isn't exactly friendly to the mom and pop investor.
"Lose your savings account password? Your fault. Fall victim to a scam? Your fault. Billionaires manipulating markets? They're geniuses."
This Tweet is currently unavailable. It might be loading or has been removed.
Palmer used Twitter's conversation settings feature to prevent people from replying directly to his tweets. That didn't stop people from quote-tweeting him, however, with many surprised that it took him "years" to reach what they saw as an obvious conclusion.
SEE ALSO: Reddit is selling NFTs, and somehow they're already worth thousands
But hey, not everything can catch on as quickly as NFTs.
Topics Cryptocurrency
Pitch n' Slay: Bitget and Morph Join Forces to Spotlight Females
VoIP Finance Successfully Listed on MEXC
Rexas Finance (RXS) Presale Moves Faster Than Expected
THROUGH THE FIRE: Shohei —?Changing the Major Leagues
GFBNEC’s Evening of Aloha Set for Sept. 23
Gate.io Launches New Mining Service
Umeya Mural Community Paint Day on June 30
Bitget Celebrates Its 6th Anniversary
Gardena Buddhist Church Obon Festival This Weekend
CicLAvia Route to Include Little Tokyo, Arts District, Boyle Heights
MANAA Celebrates Its 25th Anniversary of Changing Hollywood
‘Uncommon Ground’ Showcases Bay Area Writers and Artists of Color
WOW Summit: Bangkok to Host the Defining Innovation Event of the Year
‘Enduring Patterns of Anti
JANM Mourns the Passing of Sakaye Aratani
TCM Showing Sessue Hayakawa’s Films
Another Successful Event for FORKED
Tadashi Yanai Gives $31 Million to Support Hub for Japanese Humanities Research at UCLA
VOX POPULI: A Powerful Journalist and Activist
JANM Mourns the Passing of Chef Akira Hirose
Dogs at polling stations are the best thing about the UK electionInter Miami vs. Porto 2025 livestream: Watch Club World Cup for free2019 was the year tech workers organizedGet $25 off your first Daily Harvest boxWomen made history at the 2019 UK electionFour generations of British royalty pose for Christmas pudding photos'South Park' joke turns Colorado man's life into a hell of prank callsAlexandria OcasioNews blooper fails are the greatest gift the 24Trump complains about flushing, becomes the butt of Twitter jokes Trump chastises reporters after scrum in Oval Office Women's inspiring Instagram photos remind us to be kinder to our bodies Justin Trudeau forgot a whole province during his Canada Day speech Ted Cruz poses with his lookalike, and the internet is ded RIP Why celebrities leave Twitter Chrissy Teigen has some really important Twitter advice for Donald Trump These photos of nervous cheetahs playing with their 'support dogs' will make your day Lady Gaga defends Ed Sheeran after her 'Little Monsters' pushed him off Twitter J.K. Rowling destroys Trump with 1 handy George Washington quote Donald Trump insults Mika Brzezinski on Twitter, she hits back
0.1375s , 10279.3359375 kb
Copyright © 2025 Powered by 【sex video extortionemail】Dogecoin co,Feature Flash
