• Sibetoshi Nakamoto claims he has no plans to re-enter the crypto business as a result of a scarcity of high quality initiatives.
• He cleared up some misconceptions in regards to the Ethereum token and highlighted its launch date in 2015.
• Nakamoto highlights the rise of fraud at this time in distinction to the subtle scams of the previous.

Dogecoin creator Shibetoshi Nakamoto addressed the crypto neighborhood on social media, clarifying his function within the cryptocurrency's growth, emphasizing that he has not been concerned in any cryptocurrency initiatives since creating Dogecoin in 2013 following the failed Scrypt coin, Bells.

Nakamoto reiterated that he has not labored on any cryptocurrency since 2014 and has no plans to take action sooner or later. He denied rumors and misinformation about his involvement with any new initiatives, calling such claims full lies.

Debunking Ethereum Token Myths

Nakamoto additionally denied the widespread false impression that Ethereum-based tokens originated in 2013. He reminded his followers that Ethereum didn’t launch till 2015, making such a declare not possible.

He has responded with humor to claims that he invented Bitcoin and different outlandish statements, sarcastically claiming he’s additionally liable for the invention of the web and oxygen.

Rug Pulling and Scams: Then and Now

Whereas Nakamoto finds the talk and misinformation round it amusing, he’s involved in regards to the rise of “rug pulling” within the crypto world, which he famous was current in Dogecoin's early days, although scams are actually extra widespread and simpler to hold out.

Again then, such scams required way more superior programming abilities, and whereas Nakamoto takes a lighter method, he stays cautious in regards to the fast emergence of recent, disembodied meme cash and tokens.

Bell's revival and Nakamoto's demise

The dialog additionally touched on Bells, a cryptocurrency Nakamoto developed previous to Dogecoin. The unique blockchain was deleted, however Bells was resurrected by others. Nevertheless, Nakamoto has distanced himself from the brand new model, saying he has nothing to do with the brand new token.

Additionally learn: Analyst: Dogecoin’s reign as king of meme cash is coming to an finish

Regardless of lovers encouraging him to re-enter the crypto house and choose a brand new mission, Nakamoto appears disillusioned with the present state of the market, as he believes there are “nearly zero good initiatives” worthy of funding or involvement. His reluctance to re-enter the crypto house displays skepticism in regards to the proliferation of low-quality cash and scams, a sentiment that resonates with many disillusioned buyers at this time.