He definitely has some point, but the thing is, this is not the first time that we have heard this argument. Maybe he is just spinning some words around, but in the end, it's about manipulation by whales, crypto influencers. We've seen and heard this before and his argument sounds like a broken record already.

But I disagree that crypto is supposed to replace fiat, it won't happen. Governments around the world are now experimenting with CBCD. But whatever, to each its own.

There is no perfect system.

Sure, it's a combination of a lot of things including the things you've mentioned; but pseudonymity/anonymity sure is definitely a huge factor due to the fact that they can easily easily get away with their scams. Compared to making a scam in a traditional manner where the scammer is a lot more at risk of getting exposed.

I mean he did create the Dogecoin as a meme and they did not have any ulterior motive to creating it unlike any other cryptocurrency that gets funded in today's market. A meme to bitcoin mostly at that time.

But it ended up being more than just a meme. It became a sensation and people wanted it to go up in price.

I believe if any of you would have even been in Jack's shoes you might get the idea of what I am trying to say. Your creation is the point of a huge discussion and criticism today. Almost like a father has to watch the criticism of their child but they cannot do anything about it. Possibly this has hurt them for years now and what we are seeing today is the outburst of that rage.

There is another view to this : Is it possible that Elon has paid Jack to sat this, so that people dump their bags and Musk gets a discount to fill his bags again? It would be interesting to see how these celebs follow up their posts in order to prove or disprove my statement.

Yea, the morals and ethics of shorting a company or any asset in general can definitely be debatable, but it's totally legal (fortunately or unfortunately). George Soros' shorting of the British pound and Melvin Capital's shorting of Gamestop are perfect examples of shorts that are very questionable in a moral/ethical standpoint .

First my thoughts were of such kind like you wrote - that everything you see in the Internet resources you should not believe at once. We all know that lots of in our world is bought and sold, and every statement, positive or negative may play concrete role for someone.
And according to the thoughts of Jack Palmer in his tweets about crypto, it is his opinion and that's all. Of course there are some true moments in them, but mostly we should make our own conclusions. Comparing cryptocurrency and other things, we can find even more negative things outside crypto, and more manipulations and fraud. So in my opinion cryptocurrency is not the worst for our personal needs among other things, but just on the contrary.

A lot of what he said applies to altcoins and at the same time doesn't apply to Bitcoin. Bitcoin is not a scam or a for-profit project, it's not being marketed by anyone at all and it's not controlled by a small group of people. That why talking about cryptocurrency in general is often pointless, because there's way too many differences between Bitcoin and altcoins, even though technologically they are pretty close.

I don't agree that crypto or Bitcoin is a good tool to avoid taxation or auditing, it's all public record and exchanges easily cooperate with governments.

Jackson Palmer got a point here especially when talking about "price manipulation" by the whales, I believe in it. I once read an article about the Bitcoin cartels way back around 2017-2018.


"For these reasons, I simply no longer go out of my way to engage in public discussion regarding cryptocurrency. It doesn't align with my politics or belief system, and I don't have the energy to try and discuss that with those unwilling to engage in a grounded conversation." - https://twitter.com/ummjackson/status/1415353991966248963

Jackson Palmer is just expressing his thoughts on cryptocurrency, as we all know Jackson Palmer is co-founder of Dogecoin, he has indeed had lots of experience before, OG of crypto. He got reasons why he is not active anymore in the cryptocurrency world.
Maybe Jackson Palmer's thoughts may change in the future, we don't know, it's very early to decide as cryptocurrency is still early too.

It is upto you how you see it. Just a statement that crossed my mind, no proof to back it and none will be seen in future either to prove or disprove my theory. I do expect the statement I made before that to be more correct.

If someone tries to evade taxation and use crypto as a means to do it, they will be caught, maybe not today, not tomorrow but some day for sure. Also dont think that one can remain completely anonymous, they will be traced no matter how much off the grid they try to keep themselves, even painfully.

Point is that, the statements made by Jack has been fueled by rage and rage makes people splutter things that are not having proof and neither having a logical backing but trying to piece together what they seem as correct and what fits their narrative for their hate.

I mean it's not they are bad, it's just that the system works that way and they know that they can make money out of it, I personally don't mind them shorting companies because they are basically in a dog eat dog situation, it's not like these companies that they short are not as evil as others right? I mean look at Tesla, they employ child labor to mine their cobalts in Africa and they get shorted too.