Fear the Crypto Doggie Barking Dogecoin Creator Becomes Critical of Bitcoin and Blockchain
Jackson Palmer, the creator of famous Dogecoin crypto has thrown shades at Bitcoin and blockchain over their acceptance. Comparing the technology with the internet, Palmer believes the progress and acceptance of Bitcoin are nowhere near that of the internet.
Palmer describes the comparison of the two phenomena as dishonest as the user demand and market acceptance of blockchain and bitcoin pale in comparison to that of the internet if we take the 10-year time frame.
Plamer created Dogecoin as parody crypto which was inspired by the famous doge memes, however, everyone including him was surprised when the Dogecoin achieved a billion dollar market capitalization. The creator left the project later, to make it a truly decentralized platform.
Web Historians Diasgrees
The comparison of the two phenomena is anyway wrong, but even if we measure its acceptance by a time frame, web historians would tell you that the internet existed way before the dot com boom. Jackson seems to have confused between the internet led dot com revolution with the internet itself. The use of internet dates back to the late 1960s and personal computers with the internet came to market back in 1980s.
Jackson seems to have repeated the same mistake as many Blockchain naysayers do, they often confuse blockchain, the technology with its by-product, the bitcoin. Similarly, the internet and internet-based market places are two different things.
The early web stores were still slow in growth as the banks used to work in traditional ways and not internet based. In order to buy something, you need to call your bank or mail them to transfer the money. This problem was sorted only when the internet became more common and everything turned towards the internet.
Blockchain And Bitcoin Has Achieved Way Beyond The Expectation
Internet and internet-based stores were a completely new thing and despite that, it took a few technological advancements before the Internet-based market place became a household thing. On the other hand, Bitcoin was challenging the financial establishment which has continued for centuries.
In its life span of a decade, Bitcoin has already impacted more lives than anyone could have expected. It has taken out Venezuela from its disastrous financial breakdown. On the other hand, Blockchain is already being pegged as a pivotal tool for the next industrial revolution. A number of countries have started to use blockchain in their healthcare, banking, and supply-demand chains.
So, the joke is on you Mr. Jackson, since you are one among us who took the moral high and left his project in the hands of the community. It was an appreciable move but after being in the ecosystem for so long and yet talking like a no-coiner would surely draw some criticism.