Shark Tank star Mark Cuban has come up with a way to solve Twitter’s spam problem using the meme cryptocurrency dogecoin (DOGE). Tesla and Spacex CEO Elon Musk agrees that it is “not a bad idea.” Twitter recently accepted Musk’s buyout offer.
Elon Musk Optimistic About Mark Cuban’s Dogecoin Idea
Tesla CEO Elon Musk has been discussing on Twitter how to solve the platform’s spam bot problem. He has promised to solve the spam problem “or die trying.” Twitter agreed to sell the company to Musk for about $44 billion last week.
American billionaire Mark Cuban suggested one idea. Mark Cuban is the star of Shark Tank’s business reality TV series and also owns the NBA team Dallas Mavericks.
Cuban tweeted early Sunday morning that everyone should put up one DOGE (Dogecoin) to allow unlimited tweets. If anyone flags a post as spam and a human confirms that it is, that person gets the spammer’s DOGE. Further, he said that spammers need to post 100x as much dogecoin. The flagger will lose his dogecoin if the message isn’t spam.
At the time of writing, Cuban’s tweet has been liked more than 9K times. Dogecoin co-creator Billy Markus said, “I like this.” Musk replied, “Not a bad idea.”
Many dogecoin supporters think that Cuban’s suggestion is a good idea, noting that it is very bullish for DOGE. Some are skeptical of its viability. Others question whether it is possible to charge for something which currently comes at no cost.
People raised concern about the possibility of untrustworthy users using the system to their advantage. One Twitter user replied to Cuban: “Nah. You didn’t think this through. How do you deal with dishonest actors flagging spam that isn’t and humans confirming it is spam just to get the ‘spammers’ dog coin?”
The Tesla boss has promised to make “significant improvements” to Twitter. He called crypto spam bots the “single most annoying problem on Twitter.” Prior to the social media giant accepting his buyout offer, he said if his Twitter bid succeeds, he “will defeat the spam bots or die trying.”
Both Musk and Cuban were pro-dogecoin. Musk is known as the Dogefather. In August last year, the two said that dogecoin is the “strongest” cryptocurrency for payments. Cuban’s NBA team, the Dallas Mavericks, accepts DOGE for merchandise and the Shark Tank star has also been encouraging people to get into crypto via dogecoin.
What do you think about Mark Cuban’s idea to use dogecoin to fight spam on Twitter? Leave a comment below.
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