Billy Markus, widely recognized as Shibetoshi Nakamoto, the mastermind behind the meme cryptocurrency DOGE, has again become a focal point of social media debates. This time, the stage was set on the X platform, where Markus raised eyebrows with his incendiary comments on the U.S. taxation system and cryptocurrency regulations.
The crux of the discussion revolved around a post by the @unusual_whales account, which shed light on America’s wealth distribution. Citing Federal Reserve data, the post highlighted the staggering revelation that merely 17% of Americans, those over 65, control a whopping 50% of the nation’s wealth.
Markus took the baton from there, lashing out at the U.S. government for its perceived double taxation practices, especially concerning inheritances. He painted the policy as almost vulture-like, zeroing in on the propensity to tax wealth that has already faced taxation during its accumulation.
The DOGE co-creator’s critique wasn’t restricted to inheritance taxation. He voiced strong reservations about the U.S. government’s convoluted stance on cryptocurrency. Markus’s most audacious claims were his labeling of the government as “horrific, evil hypocrites” over cryptocurrency tax issues. He provocatively suggested that taxes paid on cryptocurrencies should be refunded.
Elon Musk, the head honcho of the X app, couldn’t resist jumping into the fray. He supported Markus, raising further questions about the tangible value of digital currencies. Markus’s response to Musk was rather intriguing; he hinted at the ephemeral essence of cryptocurrency value, a view not widely anticipated given his deep ties to the domain.
Markus’s perspective on the digital currency spectrum is undeniably multifaceted. While Bitcoin and Ethereum find favor with him, he has a bone to pick with Ethereum-based ERC20 tokens. He’s been known to juxtapose investing in unpredictable digital assets like cryptocurrencies with mental health challenges, a statement made all the more puzzling by his engagement with the NFT world.
Shifting gears slightly, Markus also weighed in on the new monetization strategy of the X app. The dual-tier Premium subscription model – one featuring ads and a pricier ad-free variant – found an advocate in Markus. He drove home the point that while providing valued services, businesses also grapple with overheads and employee salaries, a fact he believes consumers often need to pay more attention to.