Elon Musk went from wanting to buy Twitter to not buying and now back to buying all in the space of 6 months. Now we are back where we started – he wants to move forward with the deal he first agreed to in April by paying $54.20 a share for the messaging service, which amounts to $44B.
Musk, back in April, made public his desire to eliminate spam bots that currently plague the Twitter ecosystem. We can tell this was personal to him as he cited it being the reason for reneging on the initial deal of purchase agreed with the platform – he claimed Twitter wasn't transparent regarding the number of spam accounts on the platform.
Well, a lot has happened since then, lots of back and forth.
What has likely not changed since April
We can be sure that if the deal eventually goes through, his desire to eliminate spam accounts remains, and this can be good news for crypto.
In a TED Talk, he once said, “A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter…They make the product much worse. If I had a Dogecoin for every crypto scam I saw, we’d have 100 billion Dogecoin.”
Why are Spam Bots an issue for the crypto community
Spam Bots are inauthentic accounts that imitate how people use Twitter. Some spam accounts are automated, while others are operated by people, making it complicated to detect them. Bots can tweet at people, share tweets, follow and be followed by others, among other things.
While there are positives to using automated bots, their negative use in the crypto Twitter space is an issue. Here, spam bots regularly engage in scams by persuading people to send cryptocurrency to online wallets for prizes that don’t exist. Some of these accounts impersonate top crypto names in the industry to mislead people.
Looking ahead
A purge is needed, and if that can come with Musk's purchase, it would be a welcome win for CT Twitter.
