Billy Markus, the co-founder of Dogecoin, created the meme currency as a satire for the greater cryptocurrency market, and Bitcoin recently made some volatile comments about the market. Markus remarked that 95% of the cryptocurrencies present are scams and fraudulent projects. On one end, the remarks quickly sparked a debate in the cryptocurrency community on Twitter.
On the other hand, Tesla CEO Elon Musk also got into the debate at one point. It is worth noting that Markus has retired from the Dogecoin project since creating it. On the other hand, he is often caught making revoking and controversial remarks on social media platforms. He is also known to engage in a few tussles with Elon Musk on the matters concerning Dogecoin.
Competition Between Shiba Inu and Dogecoin
Speaking of controversial comments, Billy Markus recently tweeted that the new Shiba Inu Meta project is going to become the biggest rival of the Dogecoin network. It seems that Markus started his scepticism towards cryptocurrencies with the meme currency, and now his antagonism has taken the entire crypto market under its clout.
He claimed in a recent tweet that most cryptocurrencies are not very good or moral projects and the people who are supporting them are similar. He further added that it is up to the masses to change the dominance of cryptocurrencies over centralized financial systems. He urged people to stop believing in cryptocurrencies and contribute towards making a real change. However, his reasoning lacks any solid proof for the masses to consider his request.
The tweets of Markus arrive around the time when the crypto community is dealing with the FUD created by Terra Chain native tokens collapse. At present, Do Kwon, the CEO of Terra Chain, is trying to reinstate the peg of UST and revive the project. Meanwhile, Markus claims that several people are going to be involved with the junk and create a mess for the rest of the sector as well.
The tweet by Markus gained 1800 interactions, and one of the responders was Tesla CEO Elon Musk, who reacted to his tweets with a smiley face emoji. Markus claimed that the people who are going to oppose his claims are only scammers and idiots. At the same time, he refrained from offering any solid reasons behind his sceptical stance on 95% of the cryptocurrency markets.