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 discussed on Twitter how to fix the platform’s spam bot problem. He promised to solve the spam problem “or die trying”. Twitter agreed to sell the company to Musk for around $44 billion last week.
One suggestion came from American billionaire entrepreneur Mark Cuban. He is a star in the business reality television series Shark Tank and the owner of the NBA team Dallas Mavericks.
In a tweet early Sunday morning, Cuban suggested that everyone puts up one dogecoin (DOGE) for unlimited posts on Twitter. If anyone flags a post as spam and a human confirms that it is, that person gets the spammer’s DOGE. He further explained that spammers have to post 100 times more dogecoin. However, if the post is not spam, the flagger loses his dogecoin.
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 Cuban’s suggestion is a good idea, noting that she is very optimistic for DOGE. However, some people are skeptical of its viability, with some questioning the requirement to start paying for what is currently a free service and forcing people to use cryptocurrency meme as collateral to prevent spam.
Some people raised the issue of unscrupulous users gaming the system for profit. 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 most annoying problem on Twitter.” Before the social media giant accepted its takeover offer, it said that if its Twitter bid was successful, it would “defeat the spambots or die trying”.
Both Musk and Cuban have been pro-dogecoin. Musk is often called 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.
