Jackson Palmer Wishes To See The End Of Crypto Fraudsters

Jackson Palmer wishes to see the end of crypto fraudsters as he gave his opinion on the recent crypto market developments, saying the market is full of people who don’t care about financial scams so let’s read more today in our latest cryptocurrency news.

One of the Dogecoin founders, Jackson Palmer wishes to see the crypto space as an ecosystem where there won’t be scams or fraudulent activities while now he sees the ecosystem where wealthy people are getting even richer on the back of tax avoidance or scammed individuals. He believes that the market’s current decline won’t last long and regret the end of crypto is not really near. Palmer is a known crypto critic and his latest comments don’t come as a surprise.

In 2013, the software engineer co-created one of the most popular memecoins known as Dogecoin, and years later, the asset’s market valuation surged into billions while he claimed cryptos became an attractive feature for scammers and opportunists. Palmer went further and labeled the digital asset sector as a right-wing technology built to boost the wealth of the proponents through a combination of tax avoidance and artificial enforced scarcity. In a recent interview, he reiterated his anti-crypto stance and argued that the recent collapse of the market can not classify as a crypto winter as promoters continued to funnel money into the industry:

“They’re waiting for a fresh batch of fools to come in. This happens in cycles. You wait for a while for the collective memory of the world to forget about how much of a scam it is.”

DOGE’s co-founder also wished this was the end of crypto since the space is rammed by scammers who witness fraudulent activities but don’t really care much. Another issue is that Palmer pointed out that celebrities only promote digital assets because they got paid to do so and mislead novice investors. He claimed one of the few good things in the space is that the number of skeptics is increasing after people started losing money. Before that, most were gaining due to the bull run and didn’t even flinch if they noticed a Ponzi scheme.

Contrary to Palmer’s bashing, there are a few benefits that make crypto highly beneficial to today’s world. Bitcoin is decentralzied and easily accessible as well as transparent. In times of economic crisis, it can act as a hedge against rising inflation and unlike buying precious metals and properties, investors can only purchase small chunks of BTC. Plenty of experts also outlined the asset’s merits in the past few years. Even Elon Musk argued that the altcoins might not be perfect but are better than other financial products.