Dogecoin developer suggested CNBC’ Cramer to learn more about crypto

Billy Markus criticized Jim Cramer and said that Cramer needed more to learn on Proof-of-work technology at which Bitcoin and Dogecoin are working. 

On 20 January, Jim Cramer, CNBC Mad Money host, shared his stance on Dogecoin with his Twitter followers. Jim Cramer warned his followers and suggested to remain away from Dogecoin investment because Dogecoin is a security, which is unregistered. And also he said that all meme coins are based on the money-making assets for exchanges. 

In response, Billy Markus, past Dogecoin developer, and crypto proponent responded to the tweet of Jim Cramer and said that it is a signal that Dogecoin is going to follow a bull run. 

the biggest bull signal ever for dogecoin https://t.co/xoiLbyjhNy

— Shibetoshi Nakamoto (@BillyM2k) January 20, 2022

Billy also shared a meme. Through the meme, Billy tried to hint that Jim Cramer is using his popularity in the wrong way. 

Billy also explained to Jim in very detail how Jim is lagging understand the category of digital assets as security or not. 

Billy added: 

“in terms of “security,” it is a proof of work cryptocurrency so you have to put in work to retrieve the coins from the block, it doesn’t qualify under the howey test. it works the same as bitcoin. in fact, its 99.5% the same code as bitcoin. please educate yourself.”

Crypto assets and security 

The United States Securities and Exchange Commission (SEC) agency filed a lawsuit against San Francisco-based giant payment network firm Ripple. 

Through the lawsuit, the SEC agency wants to prove that Ripple’s XRP token is security and that security is unregistered. 

Besides all these things, SEC chairman Gary Gensler also refused to comment on Ethereum, whether it is a security or not. So these things are creating a different level of thinking in the minds of the crypto community.

Here Jim Cramer is 100% wrong because everyone knows very well that Dogecoin was/is in existence because of its decentralized nature. And the actual technology and programming of Dogecoin are identical to Bitcoin. 

Read also: American citizens are showing 27% more interest in crypto over 2021