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Dogecoin Founder Calls Bitcoin Maximalists ‘Mentally Ill’

Last Updated March 4, 2024 1:44 PM
Teuta Franjkovic
Last Updated March 4, 2024 1:44 PM
Key Takeaways
  • Billy Markus, a co-founder of Dogecoin, has criticized Bitcoin fans’ marketing strategies, calling them ‘mentally ill’
  • He said there are plenty of ideological divisions within the cryptocurrency industry
  • Markus said he stopped investing in crypto nine years ago, right after the DOGE launch

Unsurprisingly, conflicts and heated arguments frequently arise in the volatile and unpredictable world of cryptocurrency – this time between Dogecoin founder and Bitcoin maximalists. These arguments often show the variety of viewpoints within the crypto community since fervent believers drive them on all sides.

Dogecoin founder, who isn’t one to hold back when airing his opinions, has once again criticized the advertising tactics and overarching stories that Bitcoin advocates champion.

In the brief video , Robert Breedlove, a BTC maximalist, was seen speaking with Jason Lowery, who continued praising Bitcoin. According to Lowery, BTC is not a coin; rather, it is the future of conflict, security, and those who want to protect their data.

Maximalists of Bitcoin: A Better Attitude Toward Other Cryptos

Bitcoin (BTC) maximalists, often known as “Bitcoin Maxis,” are ardent proponents of the cryptocurrency and firmly think that it is superior to all others. They frequently minimize or even reject the worth and potential of other tokens in the wide crypto ecosystem because of their steadfast faith in Bitcoin.

Markus cited  an occasion where a BTC enthusiast was advocating the cryptocurrency in an effort to shed insight on the thinking of these Bitcoiners.

The enthusiast extended an invitation to others to join the “mentally ill group of insecure losers.” Such utterances offer a window into the frequently divisive opinions of some inside the crypto community.

Bitcoin maximalists frequently disparage competing cryptocurrencies using the nickname “s-coins.” The person who most exemplifies this approach is Max Keiser, a well-known member of the Bitcoin community.

He once requested  that the United States Securities and Exchange Commission (SEC) order major cryptocurrency exchanges to cease operations, referring to them as little more than casinos. Keiser’s ideas, which are similar to those of SEC Chair Gary Gensler, extend to classifying all altcoins as securities.

Notably, Keiser had vehemently asserted that XRP was bound for failure and that it was Gensler’s obligation to ensure its demise before Judge Analisa Torres determined that XRP was not a security in July. These stories have influenced the SEC’s recent activities as the organization has increased its examination of the top cryptocurrencies.

Markus Questions the Future of Bitcoin

The most recent criticism from Markus was in response to a video  published by Udi Wertheimer, a crypto Twitter user. Interviewing Jason Lowery was Bitcoin maximalist Robert Breedlove in the video. Lowery complimented Bitcoin and emphasized its unmatched potential throughout the interview.

He continued by saying that Bitcoin is more than just a coin. Instead, he characterized it as security, the future of warfare, and a guarantee for people who want to keep their data private.

Markus, though, appears to have a strong problem with the content of the video based on his comments. Dogecoin founder’s answer, therefore, supports the idea that innovation is not just restricted to Bitcoin. In the cryptocurrency sector, several additional coins and protocols provide distinctive solutions and show great promise.

Not the First Time Markus Takes a Jab on BTC

In April this year, Markus criticized  Bitcoin as a currency, claiming there isn’t enough for everyone.

The inventor of the most well-known memecoin on the market recently took to Twitter to criticize cryptocurrency and non-fungible token (NFT) investors, claiming that doing so amounts to investing in mental illness.

The world is getting dumber and sadder by the day, said Markus, adding that “investing in cryptocurrencies is literally investing in a mental illness, which I assume is on the rise.”

Markus then claimed  that since non-fungible tokens (NFT) are a derivative of cryptocurrencies, investing in them causes people to become “even more mentally ill” when challenged about doing so.

Markus responded to criticism of his restrictions by saying he was disgusted by the investors who, in his view, quarrel, behave erratically, and make poor choices as a result of an issue with the brain.

Allegedly Owns Very Little DOGE

The Dogecoin creator’s remarks have been provoking a flood of criticism from irate investors, who claimed that Markus was merely venting his rage at not being able to become wealthy with cryptocurrencies despite having knowledge of the sector for almost a decade.

Shortly after Dogecoin’s debut, the project’s inventor said  he quit investing in cryptocurrencies nine years ago. because he thinks investing in digital currency is just another form of gambling for people. Additionally, he rejects Bitcoin as a kind of money.

On Reddit, he revealed  he no longer represents the Dogecoin Foundation and owns very little Dogecoin.

For his criticism of Dogecoin supporter and billionaire Elon Musk, Jackson Palmer was blocked by Markus last year on Twitter. Palmer slammed Elon Musk, the CEO of Tesla, for his coding abilities and said he used cryptocurrency to inflate his ego.

The majority of cryptocurrency investors, who think that digital currencies are the future of banking and investing, hold the opposite perspective to Markus’ criticism of cryptocurrency investing.


Although Bitcoin continues to lead the way in the cryptocurrency world, many different types exist. Billy Markus reminds the public that creativity is not limited to a certain token or protocol. Understanding and appreciating the numerous prospects and potentials presented by different cryptocurrencies is crucial as the cryptosphere continues to develop. The continuous arguments and conflicts, like the one between Markus and Bitcoin maximalists, show stakeholders’ passion and commitment to their individual coins.

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