--- title: "Dogecoin Creator Says That 70 Percent of Crypto Investors Are Complete Morons" description: "Woof Dogecoin founder Billy Markus apparently doesn’t think very highly of the people who invest in cryptocurrencies like his. In a tweet appearing to respond to the precipitous crash of the Terra stablecoin last week, in which the coin meant to be tied to the worth of the US Dollar lost a whopping 97 percent […]" date: "2022-05-17" modified: "2022-05-17" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/dogecoin-creator-crypto-investors" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "crypto" - "dogecoin" - "stablecoins" - "the blockchain" - "the digest" --- # Dogecoin Creator Says That 70 Percent of Crypto Investors Are Complete Morons ![Dogecoin founder Billy Markus apparently doesn't think very highly of the people who invest in cryptocurrencies like his.]() *\Image: Getty Images\* ## Big Woof Dogecoin cocreator Billy Markus apparently doesn't think very highly of the people who invest in cryptocurrencies like, well, his. In [a tweet appearing to respond]() to the precipitous crash of the Terra stablecoin last week, in which the coin meant to be tied to the worth of the US Dollar [lost a whopping 97 percent of its worth](), Markus said it appears that large swaths of crypto investors "don’t even understand the fundamental basics of either crypto or how markets work." "I would guess by reading what people say," the 39-year-0ld Dogecoin founder continued, that "at least 70 percent have absolutely no clue" how crypto actually works. ## Simple Plan In a follow-up tweet, Markus added some advice to his griping, suggesting that crypto investors do their own research — "hype YouTube videos are not research," he cautioned — and make decisions using "common sense." "Have a plan," he added. "Don’t invest emotionally." It's pretty good advice. But given that Dogecoin investors — and, presumably, its creators — got rich only after [Elon Musk kinda-sorta plugged their joke coin via memes](), it also seems a bit hypocritical. **More on Doge:** [*Elon Musk Explains Why He is “Pro Doge,” Not Bitcoin*]() **More on the Terra stablecoin crash:** *[Suicidal Posts Spike After Crypto Project Crashes]()* ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()