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.) @HODL @ODELL

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 @rand0mguest2

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.