【Cinema Movies | Cinema Movies free | Cinema Movies latest 2022】

A cryptocurrency that originally started as a joke now has a market cap of more than $1.7 billion. And its founder thinks that's a bad sign for the cryptocurrency market in general.

Jackson Palmer,Cinema Movies | Cinema Movies free | Cinema Movies latest 2022 currently a product manager at Adobe, created dogecoin -- a fairly simple Bitcoin clone -- back in 2013. Back before bitcoin become a global phenomenon, dogecoin quickly garnered a strong following, primarily focused on memes including dogecoin's mascot, a Shiba Inu dog, and jokes about reaching "the moon," which in crypto lingo means becoming rich.

SEE ALSO: Even Dogecoin is rallying in this cryptocurrency boom

Having a four-year-long history in the world of crypto is a big deal, and as Dogecoin's following got stronger, its price steadily increased. At one point in January, Dogecoin's market cap -- the total value of all dogecoins in circulation -- exceeded $2 billion, according to CoinMarketCap.

That has set off some alarm bells among people in the cryptocurrency community, including Palmer.

Original image has been replaced. Credit: Mashable

But here's the deal: Dogecoin does not offer many significant technological advantages over Bitcoin. And it's not something that's seen any improvement, having not received a significant update in years. And Palmer, who sold most of his Dogecoin by 2015 and is not actively involved in the project anymore, thinks this type of price growth is indicative of a bubble.

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

This Tweet is currently unavailable. It might be loading or has been removed.

It's not just about Dogecoin, though. After an article in crypto-oriented media outlet Coindesk focused on Palmer's comments on Dogecoin, he posted an expanded statement on Twitter. In it, he also bashes Ripple, a cryptocurrency with a market cap that recently soared to more than $100 billion (the price retreated somewhat since then).

"The fact that most conversations happening in the media and between peers focus on the investment potential is worrying, as it draws attention away from the underlying technology and goals this movement was based. As a result, we're seeing even highly centralized assets such as Ripple achieve extremely high valuations, despite their lack of technological innovation and misalignment with the original vision of Bitcoin," he wrote.

In general, the current market is a "bubble," claims Palmer, though he doesn't dare predict when it will burst.

"My one hope is that when that does happen and people lose large sums of money, the negativity in the market doesn't stifle technological innovation or interest in digital currency from the mainstream," he wrote.

These kinds of warnings are becoming more common among people who are optimistic about the long-term future of distributed ledger/blockchain technology.

This Tweet is currently unavailable. It might be loading or has been removed.

Palmer is not the only one who's worried that enormous valuations of cryptocoins and greed have eclipsed the technological innovations that the cryptocurrency space offers. Ethereum co-founder Vitalik Buterin recently tweeted that "billions of dollars of digital paper wealth sloshing around" isn't quite the same as "achieving something meaningful for society."

Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH. 

---

Featured Video For You

---

People are spending millions on virtual CryptoKitties

---

• Social Good
• Deals
• Digital Culture
• Life
• Science
• Entertainment
• Tech
• Shopping

• Best Max streaming deal: Save 20% on annual subscriptions
• The Immortality Chronicles, Part 3 by Adam Leith Gollner
• On Keeping a Notebook, Part 2 by Sarah Gerard
• Notes from a Bookshop: Late Summer, or Summer Is a Kind of Island by Kelly McMasters
• Amazon Pet Day: All the best deals
• In the Club by Sadie Stein
• The Immortality Chronicles, Part 2 by Adam Leith Gollner
• Ground Down by Michael Croley
• Apple iPhone 17 Pro leaks highlight major new design change
• Facebook gives middle finger to Australia as Google strikes multi

• On Ham, Eternity, and a Quotation of Dorothy Parker’s
• The Mystery of the Plaster Plimpton
• Ramon Todo‘s Glass Books: Good for Looking, Not for Reading
• On Prison Literature & Dostoyevsky’s Notes from a Dead House
• Joseph Roth: All Publishers Are Bad Businessmen
• Everyone Loves a Citation Scandal, Right?
• Staff Picks: Barbara Pym, Eileen Myles, Bryan Doerries
• When My Parents Got Their Clamming License
• The Most Misread Poem in America
• They Tried to Guess My Age By My Vocabulary. They Were Wrong

• Useful or Little Known Android Features
• Kafkaesque Hotels, and Other News by Sadie Stein
• Nabokov on Joyce by Sadie Stein
• Dr. Who Poetry, and Other News by Sadie Stein
• Barcelona Open 2025 livestream: Watch live tennis for free
• Twitter returns to the old version of TweetDeck
• RIP Seamus Heaney, and Other News by Sadie Stein
• Mr. Paradise by Jonathan Segura
• One of Android's Easter Eggs is a Flappy Bird
• Finch Printing, and Other News by Sadie Stein

• The Best Gaming Concept Art of 2016
• The Best of Everything by Sadie Stein
• This Book Is Controversial, and Other News by Sadie Stein
• New Salinger, and Other News by Sadie Stein
• Big-League Bluster
• TikTok users are dressing up as their 'Republican
• Gathering the Poems Together: A Conversation with Gregory Orr by Alex Dueben
• Damned Spot by Sadie Stein
• Best robot vacuum deal: Save $200 on Eufy X10 Pro Omni robot vacuum
• Little House on Avon by Laura C. Mallonee