Last month, social media giant Twitter and independent online publisher Substack both integrated Bitcoin tipping and payment services through a third-party partnership with Strike and Open Node, respectively.
The platforms, with a combined million50 million monthly active users, have decided to offer both Bitcoin and Lightning optimized API solutions.
Bitcoin integrations on Twitter and Substack were announced and distributed just as El Salvador became the first country to create bitcoin legal tenders. Many merchants in that country now accept payments for products and services in Bitcoin. From a game theoretical point of view, that nation has a first driver advantage.
Importantly, after the El Salvador legal tender for bitcoin, the dilemma of game-theoretic prisoners accepting national bitcoins began in global geopolitics. Renowned whistleblower Edward Snowden points out that Bitcoin favors those who take it in the first place, which puts pressure on other nations, which will be punished for lagging behind.
The same model is true on all scales. Substack and Twitter have chosen to stay competitive by adopting bitcoin payment solutions. Although it is not yet clear why they have not yet added Bitcoin to their balance sheets. The hold-up is probably due to bureaucratic logistics rather than express preference for keeping bitcoin empty.
Whatever it is, it will probably soon be the first major social media platform to buy Bitcoin to keep reserves. Square, Twitter, and Substack’s Bitcoin Payment Solutions give them a first-mover in that space. They hinted at an understanding of Bitcoin and clearly valued it as a technology.
Over time, as these companies add Bitcoin to their balance sheets, make huge profits, as mentioned in the Fiat terms, and resolve unlimited, instant, commission-free payments with seamless integration, it will respond in the form of Bitcoin products and Apple, Microsoft, Google, Payment solutions for mega-companies around the world like Amazon and Facebook. (It is noteworthy that Bitcoin is rapidly interfering in the market cap of all these companies.)
Bitcoin’s terminal deficit initially rewards recipients, but punishes those who lag behind. Companies, races and individuals at any level would do well to deposit Bitcoin on any possible scale, because if Bitcoin’s past price history is true, it will become more expensive as demand increases and supply decreases. The longer an entity waits to deposit, the more fiat value they get, the more they miss depositing bitcoins that will be in the hands of hard workers or those who prefer to work first.
It’s only a matter of time before companies realize that every bitcoin micro strategy owner is one of them they probably will never. People who come late to the Bitcoin game will not be able to play. They will completely out-resource and price out of their respective markets, losing their market share to the up-and-coming blacksmiths who have taken the best money, energy and property in the world.