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Dogecoin Founder Opposes Dark ‘Diagnosis’ of Crypto Holders From Study: Details
Yuri Molchan
Billy Markus Strongly Disagrees With Recent Psychology Study That Gives Cryptocurrency Investors a Bad Name
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Billy Markuswho created the original meme cryptocurrency Dogecoin in collaboration with Jackson Palmer in 2013, took to his X-platform account to criticize a recent study on cryptocurrency holders that was later reported by the independent.
This study claims that those who invest in cryptocurrency assets are prone to having “dark traits” of personality, especially the “dark tetrad”. The founder of Dogecoin said he strongly disagrees with this opinion: “I disagree and let me explain at length why I am right”.
DOGE Creator Slams Study Discriminating Crypto Investors
The Independent article talks about a study of 2,001 US adults who were asked whether or not they owned cryptocurrency. About 30% of these adults admitted to owning cryptocurrency.
Along with the question about cryptocurrency ownership, the researchers also collected other information about them, including their psychological, political, and other personality traits. Based on that data, the researchers tried to decide which characteristics would best predict whether someone would buy cryptocurrency assets.
This study suggested that cryptocurrency holders among these respondents are likely to have “dark tetrad” personality traits. Specifically, they rely on “fringe social media sources,” “believe in conspiracy theories,” and “feel victimized.” They summarized this as traits aligned with “the dark tetrad,” namely narcissism, Machiavellianism, psychopathy, and sadism.
However, the Independent argues that the most important factor in determining whether someone owns cryptocurrencies is whether they rely on “fringe social media sources” to find out the latest news.
Feeble attempt to dishonor Elon Musk’s X?
The point about “relying on fringe social media sources for news” seems to be particularly interesting here. The fact is that after Elon MuskAfter acquiring Twitter for $44 billion and relaunching it as X, the social media platform has fought for its users’ right to advocate for free speech on X.
Data recently shared by Elon Musk shows that X is rapidly gaining new users and becoming a more trusted news source than conventional media (with the latter dramatically losing traffic to X). Considering that X is also a very popular platform in the crypto community, the above-mentioned article and the study it is based on seem like an attempt to simultaneously discriminate between X and crypto in the eyes of the American public.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many ways. He has written for several media outlets about cryptocurrencies. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.