Dogecoin Creator Denounces Crypto Scams, Distances Himself from Bells Revival

• Shibetoshi Nakamoto insists he gained’t re-enter crypto, citing lack of high quality initiatives.
• He debunks myths about Ethereum tokens, emphasizing their 2015 launch date.
• Nakamoto highlights the rise of scams at present, contrasting with the expert frauds of the previous.

Shibetoshi Nakamoto, the creator of Dogecoin, addressed the crypto group on social media, clarifying his function in cryptocurrency growth. He emphasised that he hasn’t been concerned with any crypto initiatives since creating Dogecoin in 2013, following his earlier try with Bells, a failed Scrypt coin.

Nakamoto reiterated that he has not labored on any cryptocurrency since 2014 and has no plans to take action sooner or later. He dismissed rumors and misinformation about his supposed connection to new initiatives, calling such claims outright lies.

Debunking Ethereum Token Myths

Nakamoto additionally debunked a typical false impression about Ethereum-based tokens claiming to have originated in 2013. He reminded followers that Ethereum didn’t launch till 2015, making such claims unattainable.

He responded to claims that he created Bitcoin and different outlandish statements with humor, sarcastically saying that he was additionally chargeable for inventing the web and oxygen.

Rug Pulls and Scams: Then vs. Now

Whereas Nakamoto finds the discussions and misinformation round him amusing, he’s additionally involved concerning the growing variety of “rug pulls” within the crypto world. He famous that whereas scams are actually extra frequent and simpler to execute, they had been additionally current in Dogecoin’s early days.

At the moment, these fraudulent schemes required a a lot larger stage of programming talent. Nakamoto takes a lighthearted method however stays cautious about how shortly new meme cash and tokens are being launched with out substance.

The Revival of Bells and Nakamoto’s Disconnection

The dialog additionally included Bells, a cryptocurrency Nakamoto developed earlier than Dogecoin. Though the unique blockchain was deleted, Bells has been revived by others. Nonetheless, Nakamoto distanced himself from the brand new model, stating that he has no affiliation with the brand new token.

Learn additionally: Analyst: Dogecoin’s Reign as Meme Coin King is Ending

Regardless of encouragement from fanatics to pick out a brand new challenge and re-enter the cryptocurrency house, Nakamoto seems disillusioned by the present state of the market. He believes there are “virtually 0 good initiatives” price his funding or involvement. His reluctance to rejoin the crypto world displays his skepticism of the flood of low-quality cash and scams, a sentiment that resonates with many disillusioned traders at present.