Greed is not good, certainly not when it applies to dogecoin, the cryptocurrency meant for do-gooders with a social conscience.
In that regard, the dogecoin community embraces this revelation from the altcoin’s founder Jackson Palmer.
Sydney, Australia-based Palmer told Techly that he turned down $500,000 from two venture capitalist (VC) firms. Palmer confirmed the offer with thenextweb.com.
Here is what Palmer said:
“I really think Dogecoin’s strength is that it belongs to the community that has brought it this far. It’s the internet’s currency, and doesn’t rest in the hands of any one person or entity.
“I guess the argument of VCs is that taking investment could assist in the growth of the currency – but the fact is that the bulk of it’s growth comes from the community and not the small core team we maintain for official projects like charity sponsorship. I’m fairly confident in the moon trajectory the community has set, and I believe in them.”
As examples of the community-based nature of dogecoin, Palmer pointed to recent initiatives that raised $30,000 to bring service dogs to children in need, and a another project that raised a $30,000 in donations to enable the Jamaica bobsled team to compete at the Sochi Winter Olympics.
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