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Well I am thinking about innovation. Like imagine Snap had a dev like Koob and they bought $500M of bitcoin and told the dev team to integrate bitcoin into the Snap ecosystem
Who knows what they can develop it might work it might flop but it’s worth a shot.
What if they make a killer Wallet fully integrated with an LSP like Zeus
They can do all that without being a treasury company at start, and just build up their reserves from their LSP earnings.
Proof of work, not proof of printer going brr!
Not burr they gave cash and cash like equivalents on their balance sheet now.
Not all treasury companies are doing it the MSTR, NAKA way. They could easily take some of their balance sheet and buy Bitcoin with it and integrate into their application
You can develop the entire thing before you buy Bitcoin for your LSP (or maybe a fedimint thing?) where you dev on mutinynet until you have something you can launch.
Any innovation in a privately owned product is always 3 sprints away from MVP (because if you can't do it in 3 sprints, you can't do it)
Yeah! Snapchat has network effect. If they were to use bitcoin it could be a major growth driver.
But the growth might be slow but that’s okay if bitcoin protects the balance sheet
Yeah but today’s winners could be tomorrow’s losers! Haha we never know who will win or lose in the long run.
True (though the inverse rarely happens).
And for Snapchat we could say that they were unfairly targeted by Meta: https://mashable.com/article/facebook-snapchat-data-project-ghostbusters-mark-zuckerberg
Why would we want this company around if it's dead though? If the market cannot pick losers because all the loser companies become Bitcoin Treasuries, then Bitcoin will be the currency of losers.
My counterproposal: direct any time otherwise spent on convincing Snapchat to become a treasury company, towards Elon to accept Bitcoin payments for Starlink.