Billy Markus, the co-creator of popular meme cryptocurrency Dogecoin, recently voiced disappointment with the Dogecoin community. He claimed they have not made any meaningful contributions to the project despite its growing popularity.
Markus, better known by his pseudonym Shibetoshi Nakamoto, noted that Dogecoin has received only $40,000 in donations over 10 years, with most coming in the first 6 months. He contrasted this with other coins that had pre-sales or pre-mining.
Markus questioned what the Dogecoin community wanted, stating he never sees them do anything productive. He said developers likely wouldn’t want to work on Dogecoin due to the community’s hostility and lack of incentives.
Dogecoin was originally invented in 2013 by Markus and Jackson Palmer as a lighthearted cryptocurrency built around the popular “Doge” internet meme. When it was first launched, Dogecoin was not meant to be taken seriously as a real digital currency. However, it has since exploded in popularity and value, briefly surging to 74 cents in 2021.
Markus highlighted the community’s toxicity toward the nonprofit Dogecoin Foundation. He said any announcements from the foundation are met with attacks rather than positivity.
Billionaire Elon Musk has been a major proponent of Dogecoin, frequently promoting it on social media. However, even Musk’s endorsements have not translated to meaningful development contributions from the community.
Markus seems frustrated that Dogecoin’s hype has not led to productive outcomes, despite its growing value and popularity. His comments suggest the meme coin needs more organized development and less toxicity to legitimately advance.
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