The creator of DogEcoin against Musk. “A little scammer”
I try to promise myself not to talk about Musk and the situation anymore, to the limit of the deception that has been created around DogECoin, because I risk becoming boring. But now the matter is getting ridiculous, to put it mildly.
First of all we remember that the algorithm that directs the issuance of DogECoin is Proof of Work (POW) exactly like that of Bitcoin, with the difference that, having been much less exploited professionally, the extraction of DogECoin is less expensive than that of BTC. This is a problem common to all currencies that are based only on the POW and that are deflationary: the more they are mined, the more the algorithm becomes stingy with currency the more energy is consumed to mine it. It is no coincidence that Ethereum, which has a real development team, has switched to a Proof of Stake (POS) percentage, in which mining also depends on a certain amount of cryptocurrencies that are put in "Stake", frozen, by who mine.
There have even been reactions from the two co-creators of Dogecoin. Billy Markus simply said that he didn't think about the energy consumption problem in the two hours he spent programming virtual currency (for the series, an in-depth project). Jackson Palmer, the other co-creator who disappeared from the spotlight, tweeted a message for a minute, to let people know his thoughts:
The co-creator of Dogecoin, Jackson Palmer, steps out of shadows to tweet & delete:
Tweet1: "Elon Musk is and always will be a self-absorbed grifter"
Tweet2: "Removing this in 1 min as that's all I have to say and I enjoy the quite life"
Tweet3: "ps. SNL episode was cringe, bro" https://t.co/StkV8u1JyN–
Preston Pysh
For Palmer then Musk is just an egocentric "Grifter", whose most correct translation could be "Little crook". When Musk claims to work "To improve the energy efficiency of DogECoin" The first question could be who he works with, since there is no development team, and the second if he has gathered the consent of the whole mining community, because, otherwise, it just creates a hard fork. Will there be someone who reminds him of the basic concept of cryptocurrency, that is, the fact of being "Widespread"?
– Ramp Capital (@RampCapitalLLC) May 14, 2021
In all this Coinbase has decided to list DogECoin, which can also have a positive impact: when it comes to running away, you can run away more quickly.
With this I am silent….
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The article The creator of DogEcoin against Musk. “A little scammer” comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/il-creatore-di-dogecoin-contro-musk-un-piccolo-truffatore/ on Fri, 14 May 2021 18:39:40 +0000.