  The quantum states of the supertube are counted by directly quantizing the
linearized Born-Infeld action near the round tube. The result is an entropy $S
= 2\pi \sqrt{2 (Q_{D0}Q_{F1}-J)}$, in accord with conjectures in the
literature. As a result, supertubes may be the generic D0-F1 bound state. Our
approach also shows directly that supertubes are marginal bound states with a
discrete spectrum. We also discuss the relation to recent suggestions of Mathur
et al involving three-charge black holes.
