If Coinbase has 90% reserves and 10% float, that’s an extra year’s worth of issuance. Y’all don’t think Coinbase is able to float a percentage of their coins they believe won’t ever move (…cough cough MSTR.)
nostr:npub1rtlqca8r6auyaw5n5h3l5422dm4sry5dzfee4696fqe8s6qgudks7djtfs nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
Dangerous game. Bitcoin float is not like fiat float
Floater is another word for someone drowned at sea.
Yes and fiat float is up to 100% based on post-covid hysteria reserve requirements … we’re talking about a ~10% float to manage cycles with all the insight into customers’ buying behavior, back room meetings with the President, etc. you don’t think we’re early enough that they can manage a simple float? Especially if MSTR is playing ball, letting them float a portion of their stack? The magnitude of these exchanges is a huge problem for “bitcoiners” … the fact that Saylor doesn’t seem concerned by the potential float of Coinbase is a huge red flag (to me.)
But not the most dangerous game nostr:npub1yrf6e774ggeylt7e7s784jv9ydawv5c4z5zj4arvvs04q7lkulvqdgkaz3
The institutional owners of the coins they custody know the addresses. Any funny business would be detected immediately. I don’t think Brian is trying to share a cell with SBF
Unless the government is in on it. Trying to suppress the price so that we have an orderly transition into a bitcoin standard.
Remember how stupid Saylor got during his podcast circuit last year talking about credit markets? That completely fits into a smooth transition from dollars to bitcoin afforded by fractional reserve banking bitcoin entrusted to centralized third-party custody.
