MicroStrategy CEO called the way to reduce the number of scammers on Twitter

Michael Saylor suggested using bitcoin as collateral for account verification

23.04.2022 - 09:50

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2 min

What’s new? MicroStrategy head Michael Saylor has proposed 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 will be able to make a deposit in satoshis (a fractional unit of a bitcoin equal to 0,00000001 BTC).

Source: Twitter.com

What else does Saylor say? He suggested limiting the ability to comment on posts for users who do not have blue or orange checks. Saylor did not name the amount of the one-time deposit for verification. He added that Twitter will need about 396 million orange checks.

Source: Twitter.com

What had happened before? Stripe, a payment processing company, is testing a new pilot program to enable payments using cryptocurrencies on Twitter. For now, the pilot program will only support stablecoin USD Coin (USDC). Payments will be made through the Stripe Connect platform.

In September 2021, Twitter launched bitcoin tips feature for platform creators via the Lightning Network.

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