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Dogecoin Creator Disses Blockchain, Bitcoin

February 28, 2019 12:53
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Dogecoin creator, Jackson Palmer, recently took to Twitter to re-establish his relevance by taking a dig at blockchain technology and cryptocurrencies such as bitcoin.

In a tweet, he said, “It’s plainly dishonest to liken blockchain technology to the advent of the internet, which after 10 years had obvious product-market fit and user demand.” Pointing out the obvious loophole in the statement a user said, “Interestingly the early Internet invented in the early 80s took 10 years before it hit the public in the early 90s. Adoption rate by then was the same 1% that Bitcoin has managed in the same 10yrs. At present growth, the next 10yrs will see very similar adoption.”

Tone Vays, a well-known derivatives trader and analyst said, “I thought it was invented in the late 60’s… #Bitcoin is way ahead of internet in terms of functionality, usability, Usefulness and market demand… Jackson is on something .. or maybe is he confusing $BTC with $DOGE.”

Another user said, “If “blockchain technology” = all of the useless BTC copycats out there then I agree with you completely”, to which Palmer said, “Includes Bitcoin.”

While Dogecoin started off as a joke, its value soared over 600% last year, during the bull run. Though Dogecoin started as a meme, it has been used for charity in the past. The DogeCoin community donated $55,000 to NasCar racer Josh Wise back in 2014. The generous donation helped him out in the race, and he raced around with DogeCoin sponsored car. Once again in 2014, the DogeCoin community raised $25,000 to send the Jamaican bobsleigh team to the winter Olympics.

Although DogeCoin has risen in value, it is not a safe option to put your money in. Probably a small amount if you don’t mind completely loosing it. DogeCoin has not seen an update in ages and a high risk bet if you want to invest in it.

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