DOGE Co-founder Takes On Binance Chain, Says “Every Token On That Chain is Garbage”

DOGE Co-founder Takes On Binance Chain, Says “Every Token On That Chain is Garbage”

Billy Markus, otherwise known on crypto Twitter as Shibetoshi Nakamoto, is one character known for his role in creating Dogecoin. DOGE is one of the most successful meme coins currently on the market. Billy is the co-founder of DOGE.

However, he’s also known for his aggressive antics when bashing some crypto projects or when educating his followers about the crypto market.

His current target is the Binance Smart Chain (BSC) and the tokens that launch on it. Billy hit out at the BSC tokens via a Twitter thread that now attracts lots of attention on crypto Twitter.

BSC Gems Don’t Exist

There have been times when investors rush to put money on specific projects launched on BSC. Investors determine the profitability of these projects, may they be crypto tokens or even NFTs, before investing. These potentially high-yielding projects are referred to as “bscgems.”

However, according to Shibetoshi, “there is no such thing as a “bscgem.” He goes on to claim that all the tokens launched on BSC are “garbage.” In his view, anyone who talks about BSc gems is a “scam bot, a scumbag, or an idiot.”

there is no such thing as a “bscgem.”

every token on that chain is garbage.

every account mentioning “bscgem” is a scam bot, a scumbag, or an idiot.

— Shibetoshi Nakamoto (@BillyM2k) June 2, 2022

And he wasn’t done yet.

Billy: NFTs Have No Inherent Value

In another tweet, Shibetoshi shifted his attention to NFTs.

He posted a series of questions and answers regarding the intrinsic value of cryptocurrencies and NFTs. In his opinion, NFTs and cryptos have no inherent value. Their price is determined by what the next person is willing to pay for a piece of the digital asset at a particular time. However, he stopped short of calling them ponzis, instead attributing their arbitrary values to how the markets work.

Q: does the price of any cryptocurrency or NFT have anything to do with its inherent value?

A: no

— Shibetoshi Nakamoto (@BillyM2k) June 2, 2022

Billy’s tweets have attracted a lot of attention, and many of his followers have come out to offer their opinions.

One notable reply read,

“We normally use units of measurements derived from some universal constant that we can repeatedly measure, but monetary value can’t derive value from a constant. You cross an imaginary line, and all of a sudden, something is cheaper or more expensive.”

Given Shibetoshi’s nature of acting trashy on Twitter, it’s not clear what his end-game was, especially considering that he was one of the co-founders of Dogecoin, which started as a funny meme coin.