Elon Musk has recently purchased Twitter for $44 billion and has taken the company private. He now owns the entire social media company and plans to run it his own way. His main ideas are to promote free speech, verify everyone, and make it a better platform. To do so, Elon plans to use Dogecoin to solve the Twitter spam bot problem. The idea was pitched by Mark Cuban, to which Elon Musk replied that it was not a bad idea.
Elon plans to use Dogecoin to solve the Twitter spam bot problem
If you have been using Twitter recently, the spam bot problem has gone out of hand. Celebrity and Influencer tweets are bombarded with replies from fake accounts that either jeopardize the interaction section or tries to scam followers. Everyone has been asking Twitter to solve this problem for a long time, and as Elon purchases the platform, he has promised to do it or “die trying.”
Not a bad idea
— Elon Musk (@elonmusk) May 1, 2022
Mark Cuban’s idea to combat this is straightforward and might work. He proposed that everyone on Twitter put 1 Dogecoin on the platform to post unlimited times. Now, if someone flags their post, and a human verifies it, the spammer loses the Dogecoin, and it goes to the humans. Next time, the spammer has to out in 100x more Dogecoin to continue posting. However, if someone flags and gets rejected, they lose their Dogecoin.
It is a way of fining people who spam on the platform. Bill Markus, Dogecoin’s co-founder, also replied and said, “I like this.” But there are some obvious problems with this that Twitter users pointed out.
The roadblocks to using this approach
Twitter is a free platform, and many users aren’t just happy that they will have to pay something just to remove the spambots. It also forces people to use a meme currency to have the platform clean. It can also be used to game the system if humans start confirming spam comments that are genuine tweets only to get the Dogecoins. So, I don’t think that this is the way to go even though it does seem to be a good idea.
What are your thoughts as Elon plans to use Dogecoin to solve the Twitter spam bot problem? And do you think this idea will work, or the roadblocks can’t be avoided? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.