Elon Musk, Mark Cuban Discuss Using Dogecoin to Solve Twitter Spam Problem
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 unlimited tweets on Twitter in a tweet early Sunday morning. If a human certifies that a post is a 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.
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 advocates of Dogecoin believe Cuban's suggestion is a smart one, noting that it is quite bullish for DOGE. Some people, however, are suspicious of its viability, 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 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?”
Tesla's CEO has vowed that Twitter will see "major changes." Crypto spam bots, he said, are the "single most aggravating thing on Twitter." Prior to Twitter approving his buyout offer, he stated that if his bid for the social media giant is successful, he "will fight the spam bots or die trying."
Both Musk and Cuban have shown support for the cryptocurrency dogecoin. Musk is known as the "Dogefather." Dogecoin is the "strongest" cryptocurrency for payments, according to the two in August of last year. The Dallas Mavericks, Cuban's NBA franchise, accepts DOGE as payment for items, and the Shark Tank star has been urging people to get into crypto via Dogecoin.