Programmer Billy Markus shared an opinion on why the crypto sphere is full of scams
IT engineer Billy Markus who co-founded Dogecoin meme cryptocurrency with Jackson Palmer back in 2013, and has left the project since then, has tweeted to share his opinion on why the cryptocurrency sphere is “full of scams”.
Although he has left the Dogecoin development team, Markus, known as “Shibetoshi Nakamoto” on Twitter, is an active and regular tweeter, commenting on DOGE and the crypto sphere in general.
Crypto space “gets what it deserves”
Markus claims that the reason why scam often emerge in the crypto space is that the community is unable to control the space and clear it from scammers – “it does a horrible job of policing itself”.
Rather than going for scams and chasing scammers, the crypto space is “enabling scammers and defending scammers.”
This is down to the community’s “chronic behavior”, he tweeted, and so the crypto space “gets what it deserves”.
Markus started talking about it after complaining that since Dogecoin’s inception 8 years ago, it has become the target of “the most horrific garbage in the crypto space”.
Crypto is “parasitic” technology for scams: Palmer
Earlier, the other co-founder of DOGE, Jackson Palmer, stated in an interview to the Sydney Morning Herald that crypto sphere is a “parasitic” technology that enables a great amount of scams constantly, bringing up all sorts of them.
Palmer said a large number of people are attracted to crypto because it continues to promise easy earnings and because of celebrity endorsements. He mentioned NFTs that were promoted by celebrities but would have seemed laughable five years ago.
Jackson has also been attacking major Dogecoin fan centibillionaire Elon Musk recently, calling him a “grifter”.
