Wednesday, August 10, 2022
Home Crypto News Market Dogecoin Founder Says 95% Cryptocurrencies Are Garbage And Scam, Elon Musk Responds 

Dogecoin Founder Says 95% Cryptocurrencies Are Garbage And Scam, Elon Musk Responds 

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The outspoken Dogecoin creator is not holding back as he slams illicit cryptocurrency projects.

The creator of Dogecoin (DOGE) Billy Marcus has slammed the majority of cryptocurrencies in the market, calling a whopping 95% of them are scams and garbage.

According to a tweet made by the Dogecoin creator, cryptocurrencies have earned quite a bad reputation since their inception, with many people, especially traditional financial players, using derogatory terms to describe the asset class.

Derogatory terms like scams, garbage, and bubbles have been used to describe digital currencies in recent times due to the sad stories that have filled the crypto market since its inception.

Doge founder comments in the wake of Terra Luna’s price collapse along with its sister Stablecoin, UST. Billy blasted Luna’s Do Kwon as one of the “tech bros”. Luna and UST crisis has caused investors to lose billions of dollars. As a result, Terra Founder Do Kwon Seeks Police Protection Following Recent Home Invasion From an Alleged LUNA Investor.

Commenting on the derogatory names cryptocurrencies have earned over the years, Marcus said:

“The reason why people think crypto is 95% scams and garbage and most crypto people are assholes is that crypto is 95% scams and garbage and most crypto people are assholes. Let’s change that. it starts with you – what you support, and how you behave.”

He added that anyone who gets agitated by the tweet is the scammers and a.shol.s that are being referred to.

Elon Musk Reaction

Meanwhile, the tweet made by Marcus prompted the reaction of Elon Musk, the founder and CEO of the American electric car company Tesla.

Musk replied to the Dogecoin creator’s tweet with a laughing and crying emoji, suggesting that the post was funny to the extent that it brought tears to his eyes while he was laughing.

As a result of continuous teasing Terra founder, Do Kwon blocked Doge founder on Twitter.

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Lele Jimaa
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.


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