Cardano Founder Breaks Silence on Recent Spam Attack on Network U.Today
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Dogecoin (DOGE) Reaches 396 Million Users as Twitter Spam Cools DownAs Elon ‘The Dogefather’ Musk continues the extreme makeover of Twitter, (DOGE) continues to enjoy the spotlight. Since Musk’s Twitter takeover on October 27th, 2022, the top dog memecoin’s market capitalization has doubled, going from $10.6bn to a whopping $21.77bn on November 1st, 2022. On top of that, DOGE now has 396 million users worldwide and is the largest Proof-Of-Work (PoW) cryptocurrency aside from (BTC).
Besides, the latest statistics revealed by Lunar Crush show that Twitter spam levels have significantly dropped since November 7th, 2022. The 50% decline in spam is rather unusual, as the level of internet junk had been “steadily increasing for years.”
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Incredible. Spam on Crypto @Twitter has fallen SHARPLY since @elonmusk took over.Falling over 50% from the highs on November 7th.We have never seen a reversal like this and have been analyzing CryptoTwitter data since January 2018.Source: @LunarCrush pic.twitter.com/Kn96Evxezj
— Joe (@joevezz) November 24, 2022
When to Expect DOGE’s Integration into Twitter?
The revelation comes just a week after Twitter hit an all-time high usage, according to Chief Twit Elon Musk. The social mentions also helped DOGE to stay afloat in the harsh conditions of the prolonged crypto winter.
Furthermore, despite the Twitter Crypto wallet being put on hold during the mass layoffs, talks to develop it are now resuming. Musk confirmed this on Twitter Spaces, also adding “Dogecoin to the moooon!” and finally reassuring his loyalty to the canine coin with trademark wild dance moves.
When you realize that Twitter & Doge integration is inevitable @elonmusk pic.twitter.com/ah7XXrHGff
— DogeDesigner (@cb_doge) November 22, 2022
Going into further detail on the Twitter Crypto Wallet, crypto enthusiasts tend to believe that OGE would be the default option for one-click payments. In such a case, Twitter users would be able to tip the creators in Dogecoin DOGE, as well as other popular cryptocurrencies. Musk himself recently revealed that he holds BTC and (ETH), but his biggest bag of crypto is held in his cherished DOGE.
Ultimately, the question of when cannot be answered yet, but the recent developments in Twitter’s infrastructure suggest that the Twitter Crypto Wallet is definitely on the horizon.
It’s increasingly likely that:1) Twitter integrates 1-click payments, using $DOGE as the default currency and facilitating the booming creator economy2) Twitter becomes the most popular app in the world3) #Dogecoin moons and @elonmusk becomes the world’s first trillionaire
— (@itsALLrisky) November 23, 2022
On the Flipside
- Despite doubling up on November 1st, 2022, Dogecoin’s market cap drastically shrunk due to the FTX disaster.
- Because of the FTX fiasco, DOGE’s market cap is nearly back at the same level it was prior to the Twitter takeover.
Why You Should Care
Dogecoin’s integration into Twitter as the default payment method could break the ice for crypto adoption.
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© Reuters. Dogecoin Founder Says Crypto Spam Bots Have Called A Quit- DOGE founder observes fewer crypto spam bots on Twitter (NYSE:).
- Markus believes the number dropped because of the cost of mass spamming.
- Elon Musk withdrew from a deal to acquire Twitter for $44 billion because of spam bots.
Billy Markus, the software developer who co-founded the meme , has once again used Twitter to bring attention to the issue of crypto bots. He claims to have noticed fewer spam bots this time and wonders if Twitter has taken any action to address this problem.
i’m… seeing less twitter crypto scam bots?why is nobody talking about this!
— Shibetoshi Nakamoto (@BillyM2k) September 30, 2022
Markus noted that the number of cryptocurrency spam bots he currently encounters on Twitter has significantly dropped, which he attributed to the rising expense of mass spamming, and a decline in the number of people believing frauds. In his words:
I wonder if the cost of mass spamming the same obvious stupid scam exceeded the number of people gullible enough to believe the apparent stupid scam, or if Twitter did something.
Markus believes there are currently about 20 obvious scam bots, which used to be 200 every tweet.
The founder and chairman of Boardroom Capital commented sarcastically, saying, “Crypto down so bad even the bots called it quits.” Although, a crypto enthusiast alleged that Twitter is deliberately turning a blind eye to the problem, wondering why it takes them too long to resolve the issue.
Last April, the billionaire CEO of Tesla (NASDAQ:), SpaceX, Elon Musk, withdrew from a deal to acquire Twitter for $44 billion in cash because of the issue of the spam bots. Elon reportedly said Twitter did not disclose accurate information on the proportion of bot users on the platform because he thought the former constituted the vast majority of accounts.
The post Dogecoin Founder Says Crypto Spam Bots Have Called A Quit appeared first on Coin Edition.
Shark Tank star Mark Cuban has come up with a way to solve Twitter’s spam problem using the meme cryptocurrency dogecoin (DOGE). Tesla and Spacex CEO Elon Musk agrees that it is “not a bad idea.” Twitter recently accepted Musk’s buyout offer.
Elon Musk Optimistic About Mark Cuban’s Dogecoin Idea
Tesla CEO Elon Musk has been discussing on Twitter how to solve the platform’s spam bot problem. He has promised to solve the spam problem “or die trying.” Twitter agreed to sell the company to Musk for about $44 billion last week.
One suggestion came from American billionaire entrepreneur Mark Cuban. He is a star in the business reality television series Shark Tank and the owner of the NBA team Dallas Mavericks.
In a tweet early Sunday morning, Cuban suggested that everyone puts up one dogecoin (DOGE) for unlimited posts on Twitter. If anyone flags a post as spam and a human confirms that it is, that person gets the spammer’s DOGE. He further explained that spammers have to post 100 times more dogecoin. However, if the post is not spam, the flagger loses his dogecoin.
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 dogecoin supporters think that Cuban’s suggestion is a good idea, noting that it is very bullish for DOGE. However, some people are skeptical about its viability, with some questioning the requirement to start paying for what is currently a free service and forcing people to use the meme cryptocurrency as collateral to prevent 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?”
The Tesla boss has promised to make “significant improvements” to Twitter. He called crypto spam bots the “single most annoying problem on Twitter.” Prior to the social media giant accepting his buyout offer, he said if his Twitter bid succeeds, he “will defeat the spam bots or die trying.”
Both Musk and Cuban have been pro-dogecoin. Musk is often called the Dogefather. In August last year, the two said that dogecoin is the “strongest” cryptocurrency for payments. Cuban’s NBA team, the Dallas Mavericks, accepts DOGE for merchandise and the Shark Tank star has also been encouraging people to get into crypto via dogecoin.
What do you think about Mark Cuban’s idea to use dogecoin to fight spam on Twitter? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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Tesla Inc TSLA CEO Elon Musk continues to show his support for Dogecoin DOGE/USD.
In a recent tweet, Billionaire investor Mark Cuban suggested using Dogecoin to authenticate Twitter Inc TWTR users and reduce the amount of bot-driven spam on the site.
We add an optimistic roll up to Doge Everyone puts up 1 doge for unlimited posts. If anyone contests a post and humans confirm it’s spam, they get the spammer’s Doge. Spammer has to post 100x more Doge If it’s not spam,the contestor loses their Doge. DogeDAO FTW !
https://t.co/m6jiDve3AF
— Mark Cuban (@mcuban) May 1, 2022
Seconding his thought, Dogecoin co-creator Billy Markus said he liked Cuban’s idea.
Also Read: Here’s Why AOC Deletes Her Tweet After Musk Tells Her ‘Stop Hitting On Me’
i like this https://t.co/5qPjyf5fbK
— Shibetoshi Nakamoto (@BillyM2k) May 1, 2022
Musk responded to Markus, saying it was a good idea.
Not a bad idea
— Elon Musk (@elonmusk) May 1, 2022
Earlier in April, Musk suggested that people who sign up for the Twitter Blue service should pay significantly less than the current $2.99 and should be able to pay in the local currency.
Musk proposed an option to pay with DOGE and asked Twitter users for their views.
Last week, Musk said that if his takeover bid for the social media platform is successful, “we will defeat the spam bots or die trying!”
Also Read: Cartoon Shared By Musk Is Being Sold As An NFT: Here’s How Much It Costs
Photo: Created with an image from Steve Jurvetson on Flickr