Imagine that you are the founder of a multi-million dollar company. Do you have a huge house? Do you spend a vacation on an exclusive Caribbean island? Do you own race cars? Without a doubt, you need to have it all.
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That's what Billy Markus, the software engineer who created Dogecoin, the crypto-inspired meme of a smiling shiba inu dog, bought when he changed his coins in 2015, after getting tired of the harassment of fanatics from the currency community digital. Unlike Bitcoin, there is no limit to the amount of Dogecoins that can be created in so-called currency mining.
Now that Dogecoin has reached a market capitalization of $ 9.1 billion - as much as Dropbox or Under Armor - in the wake of an impressive 1.400% rally in the year driven by Reddit (from half a cent to seven cents), Markus wants people to realize that he is no longer part of the project and cannot limit the money supply to help them get rich.
Markus went to Dogecoin's subreddit forum on Monday to clarify his involvement, or lack thereof, in the project.
“I am no longer part of the Dogecoin project, I left around 2015 when the community started a strong transition from one that I felt comfortable with,” wrote Markus in an open letter. “I currently don't own any Dogecoin, except what I was given recently. I donated and / or sold all the cryptocurrencies I had in 2015 after being fired and worried about my growing savings at the time, enough to buy a used Honda Civic. ”
Markus, 38, who now works as a software engineer for a San Francisco Bay Area education company, told Bloomberg on Wednesday that Dogecoin and the wave generated are surreal, considering he and co-founder Jackson Palmer created the token as a joke.
“I see this nonsense on the Internet saying that I have all this money. Nice, but where is it? ”Said Markus. “I am a normal person who works. I'm not in trouble or anything, but I'm not rich. ”
The fact that he did not participate in the craze that dominated his invention left Markus in a unique position to assess what is happening. Which is not to say that he can also explain.
"I'm a little distant, but it's strange that something I created in a few hours is now part of the culture of the Internet," said Markus. "It's fun to see Elon Musk talking about it."
Musk has repeatedly tweeted his support - perhaps playfully, perhaps part of cultivating a real-life James Bond villain image - to Dogecoin. Tesla's CEO tweeted on Wednesday that he had bought some coins for his young son.
How and why cryptocurrency appreciated so fast is a mystery even to Markus. The euphoria, the tweets, the support of the richest person in the world, none of this makes sense to the creator of Dogecoin.
"Maybe it's because Dogecoin can be a good thermometer of how far things can stray from reality," said Markus.
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