{"id":28614,"date":"2022-09-10T16:14:16","date_gmt":"2022-09-10T16:14:16","guid":{"rendered":"http:\/\/egrowonline.com\/?p=28614"},"modified":"2022-09-10T16:14:16","modified_gmt":"2022-09-10T16:14:16","slug":"why-dogecoin-co-creator-is-accusing-mark-cuban-of-scamming-investors","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=28614","title":{"rendered":"Why Dogecoin Co-Creator Is Accusing Mark Cuban Of Scamming Investors"},"content":{"rendered":"


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Dogecoin co-creator Jackson Palmer has once again taken to the Internet to spew his disdain for the cryptocurrency industry. This time, he lashes out at\u00a0Mark Cuban, owner of the Dallas Mavericks.<\/p>\n

In an interview with Business Insider, the\u00a0Adobe specialist stated that billionaire entrepreneur Cuban and other prominent investors have \u201cdrunk the Kool-Aid\u201d regarding cryptocurrencies and NFTs.<\/p>\n

A person who \u201cdrinks the Kool-Aid\u201d is one who believes in a potentially hopeless or silly concept because of the promise of large benefits. This expression is usually taken in a pejorative sense.<\/p>\n

Palmer told the news outlet\u00a0that he believes Cuban has been hoodwinked into believing in NFTs and cryptocurrencies, pointing out\u00a0that Cuban is not paid as a celebrity to promote digital currencies.<\/p>\n

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Dogecoin co-creator Jackson Palmer. Image: Business Insider<\/pre>\n
Is Cuban Brainwashed About Crypto?<\/strong><\/h2>\n
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\u201cCuban has kind of been indoctrinated into believing that these things are the future,\u201d Palmer said.<\/strong><\/p>\n<\/blockquote>\n
Palmer is one of the two creators of the Dogecoin meme coin. He and Billy Marcus developed the coin as a parody of the hypothetical\u00a0aspect of cryptocurrencies.<\/p>\n
Elon Musk, CEO of Tesla and SpaceX, consistently supports Dogecoin, one of the top 15 cryptocurrencies by market capitalization.<\/p>\n
Palmer directed similar criticisms at Musk in May, claiming that he was a \u201cgrifter\u201d attempting to sabotage Twitter. He also asserted that Musk lacks the ability to execute simple\u00a0coding.<\/p>\n
While Marcus retains a sarcastic stance toward the cryptocurrency industry, Palmer has been openly hostile for years.<\/p>\n
Dogecoin Co-Creator Spews Out Harsh Claims<\/strong><\/h2>\n
Palmer continued by arguing that Cuban and venture capitalists such as Andreessen Horowitz\u2019s Marc Andreessen and Chris Dixon are conducting a type of \u201cscam\u201d by funding the cryptocurrency industry.<\/p>\n
Grift is the act of acquiring money or property in an illicit manner.<\/p>\n
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\u201cThat is more of a grift\u00a0to me because they see it as an ongoing way to obtain\u00a0profit\u2026 they want to be in control or have ownership or a large stake in this sort of extractive, shady cryptocurrency system,\u201d Palmer said.<\/strong><\/p>\n<\/blockquote>\n
Cuban and Andreessen are general partners at Andreesen Horowitz, one of the crypto industry\u2019s most involved VC firms.<\/p>\n
Cuban Seems He Ain\u2019t Bothered A Bit<\/strong><\/h3>\n
Jack Dorsey, co-founder and former CEO of Twitter and current CEO of Block, has made similar claims about Andreesen\u2019s involvement in a scam.<\/p>\n
Neither Dixon nor Andreesen responded to a request for comment from Business Insider.<\/p>\n
Cuban, for his part, fired back by saying Palmer\u2019s statements don\u2019t come as a surprise. He said:<\/p>\n
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\u201cSounds like the same thing that has been said about every new technology that I have been involved in.\u201d<\/strong><\/p>\n<\/blockquote>\n
As of this writing, Dogecoin (DOGE) is trading at $0.063969, up 3.8% in the last seven days, data from Coingecko show.<\/p>\n
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DOGE total market cap at $8.4 billion on the daily chart | Source: TradingView.com<\/a>
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\nFeatured image from Yahoo Sport UK, chart from TradingView.com<\/a><\/pre>\n<\/p><\/div>\n

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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Dogecoin co-creator Jackson Palmer has once again taken to the Internet to spew his disdain for the cryptocurrency industry. This time, he lashes out at\u00a0Mark Cuban, owner of the Dallas Mavericks. In an interview with Business Insider, the\u00a0Adobe specialist stated that billionaire entrepreneur Cuban and other prominent investors have \u201cdrunk the Kool-Aid\u201d regarding cryptocurrencies and […]<\/p>\n","protected":false},"author":1,"featured_media":28615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[11065,2519,3473,85,102,1162,11066],"class_list":["post-28614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-accusing","tag-cocreator","tag-cuban","tag-dogecoin","tag-investors","tag-mark","tag-scamming"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/Dogecoin-1.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28614"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28614\/revisions"}],"predecessor-version":[{"id":28616,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28614\/revisions\/28616"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/28615"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28614"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}