Absolutely not returning to the cryptocurrency circle! Dogecoin's original author: The cryptocurrency industry is a playground for the wealthy, creating a "get rich quick" image akin to a cult.

Dogecoin co-founder Jackson Palmer, after posting a long message on Reddit in February this year, has once again spoken out on Twitter today with even stronger language, stating that the entire cryptocurrency space is like a playground for the rich.

How much should Dogecoin be worth?

Due to the surge in Dogecoin's value, Jackson Palmer previously emphasized the legal value of Dogecoin, stating that it is the price that anyone is willing to pay for it at any given time, rather than pump-and-dump schemes or speculation. He expressed:

People always think that when Dogecoin reaches $1, its market value will surpass companies like Boeing and Starbucks. But is Dogecoin really worth such a high market value? I cannot understand, let alone answer.

Never Returning to the Cryptocurrency Industry

Palmer stated today that he is often asked whether he would return to the cryptocurrency industry or start sharing opinions on it regularly, and his answer is that he absolutely does not want to return to this space, and he explained why.

Like a Playground for the Rich

After years of research, Palmer believes that cryptocurrencies are fundamentally a right-wing, super-capitalist technology that primarily expands investors' wealth through tax evasion, reduced regulation, and the artificial scarcity of assets.

Despite claiming to be "decentralized," the entire industry is still controlled by powerful, wealthy monopoly groups, and over time, these groups have developed the crypto space to the point of replacing the traditional centralized financial system.

This industry uses complex business networks, influential figures who charge fees, and paid media channels to create a cult-like image of "get rich quick," attempting to extract money from the economy's downturn and naive investors.

More Severe Financial Exploitation

Palmer acknowledges that traditional systems have long engaged in "financial exploitation," but cryptocurrencies seem designed as profit funnels for the wealthy, incorporating the worst aspects such as corruption, fraud, inequality, and technically intervening in established investor protections like audits, regulations, and taxes. He gave examples:

• Forgot your private key? Your fault.
• Became a victim of fraud? Your fault.
• Billionaires manipulate the market? They are geniuses.

Cryptocurrency Cannot Accept Criticism

Palmer also points out that even mild criticism of cryptocurrencies now faces backlash from prominent figures and retail investors in the crypto industry. The crypto space feeds users a false dream of becoming billionaires, making it impossible to have a rational debate.

Due to these reasons, Palmer is unwilling to engage in any public discussions related to cryptocurrencies. He no longer has the energy to converse with people who are unwilling to confront the real issues.

In conclusion, he emphasized that while new technologies can make the world a better place, they cannot achieve it if they detach from inherent political or social consequences.