David Holt 🌴
@IDrawCharts
Followers
53K
Following
218K
Statuses
85K
Opinion not for sale. DMs open but I probably won't read them. I love you.
Online
Joined January 2018
New article/pinned tweet. Introducing Small Brain: articles in which I attempt to explain the (lack of?) thinking behind my trading decisions
52
57
457
@kabir_base @Tiza4ThePeople This is a pathetic excuse you're telling people that base is too insecure to hold it's OWN FUNDS and you're incapable of on-chain auditing? Pathetic. Absolutely pathetic.
0
0
6
Lmfao base sends their proceeds to coinbase because... *checks notes* base isn't secure enough and you can't audit it (??????????????) according to the base team themselves absolute fucking pathetic clown show
This narrative just isn’t true — here are the facts: Base is and will continue growing Ethereum. We’re investing all of our earnings and resources into doing this and we have gone from zero to millions of new people onchain in 1.5 years. Base and Coinbase have and continue to hold ETH and publicly disclose our long term holdings (100K ETH+, $300M+). AFAIK this is the largest ETH holding of any public company and way bigger than any other L2 DAO or Labs company today. Base currently uses offchain custody for security and audit reasons (that’s why funds move to Coinbase). We earn and spend as much as we can in ETH. We spend ETH on L1 costs, we denominate all of our external grants in ETH, our goal is to continue to move more of Base's costs to function in ETH, and we are working hard to move more of our operations onchain. We also have offchain expenses (like salaries) that are denominated in USD, but any ETH we convert to USD to cover this is minimal compared to our holdings and the broader ETH market Let me say this again: Coinbase has accumulated $300M+ in ETH, which is more than 2x all of Base's ETH earnings over time We are 100% laser focused on long term growth, not short term price movements. We wake up every day thinking about how to bring the world onchain, and if you believe in this mission, build something to help make that happen. Spreading about FUD on the weekends isn’t it.
0
1
12
@thinkingvols It's nice to see people freaking out about it though I like my counterparties to be uninformed
0
0
8
0
0
2
that's not to say I think ENA is safe, I expect it will probably experience a large loss at some point because risk is really hard to manage at scale I use them as an example because there are people with far more money, skill and tooling who are doing a much better job at the same thing
0
0
1
for reference, I have a carry position in a market where I account for around 15% of all open interest. The only way to squeeze me out of that position would require lighting several hundred thousand dollars on fire, negative net return and that's on a much smaller and less active market
1
0
7
Much less than you might think. Won't say too much because I do a LOT of stuff with funding but it's stickier than you might think. These sorts of trades don't care if funding swings intraday or over several days because the positions are so large they're looking at averages, trading costs, risk free rates, sharpe ratios... the people doing these trades seriously think very differently from CT about things like funding, carry and fluctuations in basis
1
0
4
@UCBarstool Flew in from CVG coming home from deployment a few years back, that view will always be special
0
0
0