Mark Cuban of Shark Tank has devised a solution to Twitter’s spam problem based on the meme cryptocurrency dogecoin (DOGE). Elon Musk, CEO of Tesla and SpaceX, feels that it is “not a bad concept.” Twitter just approved Musk’s buyout offer.
Elon Musk is upbeat about Mark Cuban’s Dogecoin concept:
Elon Musk, the CEO of Tesla, has been tweeting about dealing with the platform’s spam bot problem. He has stated that he will “attempt” to fix the spam problem. Last week, Twitter agreed to sell the firm to Musk for $44 billion.
Mark Cuban, an American billionaire entrepreneur, made one recommendation. He is the owner of the NBA franchise Dallas Mavericks and a celebrity on the business reality television show Shark Tank.
Cuban urged that everyone put up one Dogecoin (DOGE) for limitless tweets on Twitter on a tweet early Sunday morning. If a human certifies that a post is spam, the person who flagged it gets the spammer’s DOGE. He went on to say that spammers must post 100 times as much dogecoin. The flagger, however, loses his Dogecoin if the message is not spam.
Cuban’s tweet has been liked over 9K times as of this writing. “I like this,” Dogecoin co-founder Billy Markus stated. “Not a bad concept,” Musk said.
Many advocates of Dogecoin believe Cuban’s suggestion is smart, noting that it is quite bullish for DOGE. Some individuals, however, are suspicious of its feasibility, questioning the obligation to begin paying for what is presently a free service and compelling consumers to use the meme money as collateral to avoid spamming.
Some people mentioned the issue of unethical users profiting from the system. “Nah,” one Twitter user responded to Cuban. You didn’t consider everything. How do you handle dishonest actors identifying spam that isn’t spam and people verifying it is spam only to receive the spammer’s dog coin?”
Tesla’s CEO has vowed that Twitter would see “major changes.” Crypto spam bots, he said, are the “single most aggravating thing on Twitter.” Before Twitter approved his buyout offer, he stated that if his bid for the social media behemoth is successful, he “will fight the spambots or die trying.”
Both Musk and Cuban have shown support for the cryptocurrency dogecoin. Musk is known as the “Dogefather.” According to the two in August of last year, Dogecoin is the “strongest” cryptocurrency for payments. The Dallas Mavericks, Cuban’s NBA franchise, accepts DOGE as payment for items, and the Shark Tank star has been urging others to get into crypto via Dogecoin.
