Dogecoin cofounder Billy Markus published an open letter in the r/dogecoin subreddit in which he described selling his coins and his attitude toward new price records.
Huh, the moderators of r/dogecoin deleted my post without any explanation. Bizarre.
Anyway, if anyone was curious and didn’t see it, I reposted it here: https://t.co/ph0YoGUswG
— Shibetoshi Nakamoto (@BillyM2k) February 9, 2021
Markus stressed that he is not currently affiliated with the Dogecoin team. He said that in 2015 he left the project and sold his cryptocurrency holdings for an amount equivalent to a used Honda Civic.
On the date of writing, the average price of this make of car (model years 2010–2017) with mileage is around $15,000.
“My mother is really struggling to pay for the house and will probably lose it. If I hadn’t messed up with crypto investments years ago, I could have helped her,” wrote Markus.
Earlier the developer stated that he left the project “due to harassment from the community.”
guys, i sold all my doge in 2015 after getting laid off and freaking out about money. in total i made about enough to buy a used honda civic.
i left the project over 7 years ago due to harassment from the community, and now i’m being harassed again. please consider this.
— Shibetoshi Nakamoto (@BillyM2k) January 31, 2021
In the letter Markus noted that he does not understand talk of a rally to $1 or the coin’s market capitalization approaching the level of large American companies. He called the true value of Dogecoin the community and its potential “do good.”
“Pump and dump, rampant greed, fraud, unscrupulous participants, hype without research, taking advantage of others — all of this is useless […] Joy, kindness, education, empathy, fun, community, inspiration, creativity, generosity, frivolity, absurdity — that is what makes Dogecoin valuable to me,” said the developer.
Adobe Systems employee Jackson Palmer and Billy Markus created Dogecoin in 2013. Later a conflict arose between them. Both founders left the project.
What is Dogecoin (DOGE)?
In late January 2021, Dogecoin entered the top-10 by market capitalization. The coin’s pump was urged by members of the Reddit community r/SatoshiStreetBets on Reddit.
As of writing, the price of the cryptocurrency stood at $0.067. In the market-cap ranking, Dogecoin ranks 12th with a market cap of $8.58 billion, according to CoinGecko.
Earlier the coin was supported by American rapper Snoop Dogg. In February the founder of Tesla Elon Musk and billionaire Mark Cuban said they bought the cryptocurrency asset for their sons.
Developers resumed work on the code and pledged to monitor security.
Subscribe to ForkLog news on Facebook!