Dogecoin has still not fallen out of favor with investors despite losing more than 90% of its all-time high. The meme coin whose community continues to wax stronger is still one of the largest cryptocurrencies by market cap. One thing that has always haunted the digital asset though has been its beginnings. Now, the co-creator of the meme coin has added another layer to this by stating that the coin was created by “a stupid person.”

Dogecoin Is Stupid

Billy Markus is one-half of the duo responsible for the creation of Dogecoin, which has since grown to become the largest meme coin in the space and one of the largest in the overall market. Both creators had subsequently exited the digital asset a few years after its creation and seemingly forgotten about it. That is until billionaire Elon Musk began to shill the cryptocurrency and it grew as high as $0.7 apiece. That is when Markus returned to the market.

Over the months following his return to the space, Markus has been a vocal member of the Dogecoin community, oftentimes providing ideas and suggestions to help further the utility of the coin. This time around though, the creator has given another reason why he likes the asset.

Related Reading | Data Shows Top Coins Among Most Hated Crypto, But Not Dogecoin

In a tweet, Markus explained that the digital asset was so beloved to him not only because it’s stupid but because it knows that it is stupid. This attributes to the fact that DOGE has never really claimed to be more than it really is, which is a community-driven meme coin.

the reason i like dogecoin is because it knows it is stupid

— Shibetoshi Nakamoto (@BillyM2k) May 12, 2022

As for the creation of the token, Markus also continues with the ‘stupid’ rhetoric. Responding to a user that said they liked Dogecoin because they themselves were also stupid, the creator responded; “A stupid person also made it in the first place,” seemingly referring to himself and co-creator James Palmer as stupid.

DOGE price trending at $0.09 | Source: DOGEUSD on TradingView.com

Elon Musk Lauds DOGE’s Potential

The ‘Dogefather’ Elon Musk had also jumped on the Twitter thread to show support once again for the cryptocurrency. This comes as no surprise as it is very on-brand for the billionaire to be seen promoting the meme coin on Twitter.

He replied to Markus’s assessment of Dogecoin being a stupid coin that knows it’s stupid with the same utility argument that has been used several times before. Musk refuted the coin creator’s tweet by saying that “It has potential as a currency.”

Related Reading | Germany Announces, No Tax On Crypto Sales For Investors Holding For 1 Year

Markus stood firm in his assessment that the digital asset is stupid. However, also praised the coin for its utility and success.

i enjoy that something stupid could also have utility and be successful

— Shibetoshi Nakamoto (@BillyM2k) May 12, 2022

DOGE continues to hold up quite nicely in the market though. It is trading at $0.0922 at the time of this writing.

Featured image from Gfinity Esports, chart from TradingView.com

Even as cryptocurrencies are slowly gaining mainstream adoption, the path forward isn’t smooth for many digital currencies.

Dogecoin (CRYPTO: DOGE) cofounder Billy Markus came down hard on Mozilla for backtracking on its decision to accept donations in cryptocurrencies.

Markus attacked Mozilla for succumbing to what he called “an ignorant, reactionary internet mob.” 

For the unversed, the Mozilla Foundation, a non-profit organization behind the Firefox web browser, on Thursday announced through Twitter it will pause the ability to donate via cryptocurrencies, even as it reviews “if and how” its current policy on crypto donations fits with its climate goals.

The foundation faced a backlash from Twitter when it announced an earlier decision to accept donations in digital currencies such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin.

Those opposed to the move, primarily on environmental grounds, took to Twitter to express discontent over Mozilla’s decision and threatened to cancel recurring donations to the foundation.

Related Link: 2022 Begins With A Whimper For Most Cryptos, But 2 Currencies Are Making Strong Gains

In response to Mozilla’s announcement, Markus went on to suggest the environmental cost associated with paper dollars and the entire banking infrastructure is far worse.

“Accepting cryptocurrency doesn’t mean we support every bad thing about cryptocurrency just like accepting American dollars doesn’t mean we are okay with all the atrocities America has committed,” Markus tweeted.

to be clear, we should care about the environment, just y’know, recognize that if we are living in a first world country and whining on Twitter, we are pretty terrible for the planet, and stop trying to act like everything is the worst thing ever and we are all saints

— Shibetoshi Nakamoto (@BillyM2k) January 7, 2022

He also said internet outrage is “hypocritical and stupid” every time.

Crypto backers have also taken up cudgels against Mozilla and have threatened to stop using the Firefox browser.

Mozilla, meanwhile, has been accepting crypto donations for years, partnering with Coinbase Global, Inc. (NASDAQ:COIN) in 2014 to begin accepting Bitcoin donations. The recent outrage seems to have in reaction to the idea of legitimizing cryptos, it added.

Related Link: Bitcoin Reigns Supreme, Still Accounts For 46% of the Total Value of Crypto Markets: Survey