Dogecoin co-founder Billy Marcus opined that 95% of cryptocurrencies are “scams and junk.”
The reason people think that cryptocurrency is 95% fraud and garbage and that most people involved in cryptocurrency are jerks is because cryptocurrency is 95% fraud and garbage and most people involved in cryptocurrency are jerks.
Let’s change that. It all starts with you, it all depends on what you support and how you behave.
Some users accused Marcus of lacking self-criticism because he himself co-founded a meaningless cryptocurrency that has spawned countless fraudulent coins.
In his defense, the Dogecoin co-founder said that the world’s most famous meme coin was made as a “satire” and that he himself prefers quality over quantity.
Dogecoin, created in 2013, gained enormous popularity last year despite very low developer activity. Despite being considered a scam by many, the coin has managed to turn some of its fans into millionaires.
The coin’s pummeling was largely fueled by billionaire Ilon Musk, who dedicated his Twitter account to publishing memes about the coin.
However, Dogecoin’s bullish growth has not been sustained, as the price of DOGE is now down more than 87% from its record high.
Nevertheless, despite being a joke cryptocurrency, it has performed relatively well compared to LUNA Terra, which lost 100% of its value in a matter of days.