The Legacy of Dogecoin: Clarifying Misconceptions and Reflections

• Shibetoshi Nakamoto insists he won’t re-enter crypto, citing lack of quality projects.
• He debunks myths about Ethereum tokens, emphasizing their 2015 launch date.
• Nakamoto highlights the rise of scams today, contrasting with the skilled frauds of the past.

Shibetoshi Nakamoto, the creator of Dogecoin, addressed the crypto community on social media, clarifying his role in cryptocurrency development. He emphasized that he hasn’t been involved with any crypto projects since creating Dogecoin in 2013, following his previous attempt with Bells, a failed Scrypt coin.

Nakamoto reiterated that he has not worked on any cryptocurrency since 2014 and has no plans to do so in the future. He dismissed rumors and misinformation about his supposed connection to new projects, calling such claims outright lies.

Debunking Ethereum Token Myths

Nakamoto also debunked a common misconception about Ethereum-based tokens claiming to have originated in 2013. He reminded followers that Ethereum didn’t launch until 2015, making such claims impossible.

He responded to claims that he created Bitcoin and other outlandish statements with humor, sarcastically saying that he was also responsible for inventing the internet and oxygen.

Rug Pulls and Scams: Then vs. Now

While Nakamoto finds the discussions and misinformation around him amusing, he is also concerned about the increasing number of “rug pulls” in the crypto world. He noted that while scams are now more frequent and easier to execute, they were also present in Dogecoin’s early days.

At that time, these fraudulent schemes required a much higher level of programming skill. Nakamoto takes a lighthearted approach but remains cautious about how quickly new meme coins and tokens are being launched without substance.

The Revival of Bells and Nakamoto’s Disconnection

The conversation also included Bells, a cryptocurrency Nakamoto developed before Dogecoin. Although the original blockchain was deleted, Bells has been revived by others. However, Nakamoto distanced himself from the new version, stating that he has no affiliation with the new token.

Read also: Analyst: Dogecoin’s Reign as Meme Coin King is Ending

Despite encouragement from enthusiasts to select a new project and re-enter the cryptocurrency space, Nakamoto appears disillusioned by the current state of the market. He believes there are “almost 0 good projects” worth his investment or involvement. His reluctance to rejoin the crypto world reflects his skepticism of the flood of low-quality coins and scams, a sentiment that resonates with many disillusioned investors today.