Mark Cuban suggested using Dogecoin to fight spam on Twitter

This requires users to put up 1 DOGE to publish posts

03.05.2022 - 07:25

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2 min

What’s new? Billionaire Mark Cuban believes that fraud and spam on the social network Twitter can be combated with cryptocurrency. Cuban suggested users put up 1 DOGE to publish tweets. The idea was supported by Dogecoin developer Billy Markus.

Source: Twitter.com

What mechanism did Cuban propose? According to the billionaire’s idea, Twitter users themselves will fight spam by tagging relevant tweets. If confirmed, complainers will be able to share the offender’s asset among themselves. The offender will have to put up not 1, but 100 Dogecoin to continue publishing new tweets. If the complaint is not confirmed, the authors of the complaint will lose their coins.

What events happened before? A similar idea was proposed in April by MicroStrategy head Michael Saylor. He said that it is possible to solve the problem of crypto scam bots on Twitter by implementing verification for all real users of the social network. There are blue checks on the platform that confirm the authenticity of the accounts, so Saylor suggested adding orange checks for which users would be able to make a deposit in satoshis (a fractional unit of a bitcoin equal to 0,00000001 BTC).

On April 26, the Dogecoin cryptocurrency rose in price by 29% per day (according to Binance). This came after it became known about Elon Musk’s purchase of the social network Twitter for $44 billion.

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