After Elon Musk royally pissed off cryptoworld by announcing that Tesla would no longer accept Bitcoin due to its impact on global warming (just three months after Tesla announced they would take it), Dogecoin co-creator, Jackson Palmer, slammed Musk in a now-deleted Tweet, calling him a 'self-absorbed grifter.'
The co-creator of Dogecoin, Jackson Palmer, steps out of shadows to tweet & delete:— 🟩Preston Pysh🟩 (@PrestonPysh) May 14, 2021
Tweet1: "Elon Musk is and always will be a self-absorbed grifter"
Tweet2: "Removing this in 1 min as that's all I have to say and I enjoy the quite life"
Tweet3: "ps. SNL episode was cringe, bro" https://t.co/StkV8u1JyN
Musk's announcement caused a brutal selloff in most cryptocurrencies, including Dogecoin - which fell precipitously during the Tesla founder's lame appearance on Saturday Night Live, where he called himself the "Dogefather" and pumped the digital coin while also calling it a "hustle."
In January, Dogecoin rose over 800% in 24 hours to a price of $0.07 after Musk began promoting the coin which started out as a joke in 2013. On Friday, it rose 39.4% to $0.54 after Coinbase announced on Thursday that it would support the meme-themed digital currency over the next six to eight weeks, offering an alternative to glitch-plagued Robinhood to trade the token.
*COINBASE PLANS TO LIST DOGECOINS IN 6-8 WEEKS pic.twitter.com/nlzv175CIx— zerohedge (@zerohedge) May 13, 2021
After drawing the wrath of the crypto community, Musk pumped Doge on Thursday, tweeting: "Working with Doge devs to improve system transaction efficiency. Potentially promising" - prompting ridicule over everything from Dogecoin being a 'dead project' - to the fact that Doge uses less electricity to mine because it's 'less secure.'
So you’re working with yourself?— 🟩Preston Pysh🟩 (@PrestonPysh) May 14, 2021
...electricity isn’t used for transaction processing. It’s used to secure the network. Doge is PoW meaning it faces the same basic dynamics as Bitcoin. It uses less electricity now because it’s less secure.— Ari Paul ⛓️ (@AriDavidPaul) May 13, 2021
Will the Dogefather ever recover?