Billy Markus attacks how the joke coin has been taken over by "pump and dumping, and rampant greed."
wow. very nostalgia. so regret.
Billy Markus, the co-founder of Dogecoin, has written a rather extensive thread — sharing his thoughts on where DOGE is now.
The software engineer started the joke cryptocurrency “for sillies” alongside Jackson Palmer in 2013, but he hasn’t been involved in the project since 2015 because “the community started to strongly shift from one that I was comfortable with.”
Of course, with DOGE briefly hitting a market cap of $10 billion in recent days — in part thanks to some aggressive tweeting from Tesla CEO Elon Musk — the question on everyone’s lips is this… does he still own any?
Prepare to wince at his answer. He said:
“I gave away and/or sold all the crypto I had back in 2015 after being laid off and scared about my dwindling savings at the time, for about enough in total to buy a used Honda Civic.”
It’s fair to say that Markus is fairly bemused about the surge that DOGE has experienced, not to mention how some enthusiasts are optimistic that the altcoin will one day hit $1:
“That would make the ‘market cap’ larger than actual companies that provide services to millions, such as Boeing, Starbucks, American Express, IBM. Does Dogecoin deserve that? That is not something I can comprehend, let alone answer.”
Markus said the thing that matters most is the “true value” that DOGE brings to the world — “joy, kindness, giving, empathy, fun, community, inspiration, creativity, generosity, silliness, absurdity.” He added:
“Pump and dumping, rampant greed, scamming, bad faith actors, demanding from others, hype without research, taking advantage of others — those are all worthless. Worse than worthless, honestly, bringing more negativity to an already difficult world.”
Markus finished his note by urging readers to never risk more than they can afford to lose, and to remain vigilant and aware.