bitcoinlimit's avatar
bitcoinlimit bitcoinlimit@verified-nostr.com 1 year ago
“I can sell you 20 million dollar painting but I can’t tell you why a piece of code is money. That’s an interesting paradox.” - The former CEO of Sotheby's, Tim Smith. Stop whatever you’re doing right now and spend two minutes of your life listening to what he has to say about #Bitcoin and why it’s going to reach $10 million per coin.

Replies (29)

Satoshi Coffee Co.'s avatar
Satoshi Coffee Co. satscoffee@sats.coffee 1 year ago
Great clip!
bitcoinlimit's avatar bitcoinlimit
“I can sell you 20 million dollar painting but I can’t tell you why a piece of code is money. That’s an interesting paradox.” - The former CEO of Sotheby's, Tim Smith. Stop whatever you’re doing right now and spend two minutes of your life listening to what he has to say about #Bitcoin and why it’s going to reach $10 million per coin.
View quoted note →
Marc Kat's avatar
Marc Kat marc@primal.net 1 year ago
I basically came to the same conclusion about the S&P500 a few weeks ago. I watched a normie financial advisor tell the audience savings accounts only pay 1%, but he can get 12% in mutual funds. I noticed that was about what the Chapwood Index says inflation is in the closest city to me. Therefore, all the gains of index funds are an illusion. People are really just treading water in a pool, but they think they're surfing a 12 foot wave.
1 replies ↓
Thomas 's avatar
Thomas 1 year ago
Yeah that was also for me a absolute startling insight. S&P keeps you only even, regarding your purchasing power. Only if you invested in the Mag7 tech stocks or at least in an Nasdaq ETF where you able to outgrow your purchasing power against inflation. Heard that btw two years ago in the @Michael Saylor interview at the Tucker Carlson show.
1 replies ↓
Default avatar
npub1m62w...urpc 1 year ago
Also, you get taxed on "profits" when it actually just kept up with inflation
The real prophet Muhhammed who invented islam aka False Idol #1's avatar
The real prophet Muhhammed who invented islam aka False Idol #1 dzyphr@iris.to 1 year ago
10 million what? USD? I thought we dont care about that? 1BTC = 1BTC anyone?
bitcoinlimit's avatar bitcoinlimit
“I can sell you 20 million dollar painting but I can’t tell you why a piece of code is money. That’s an interesting paradox.” - The former CEO of Sotheby's, Tim Smith. Stop whatever you’re doing right now and spend two minutes of your life listening to what he has to say about #Bitcoin and why it’s going to reach $10 million per coin.
View quoted note →
Kurt's avatar
Kurt kurt@nostrplebs.com 1 year ago
I don't agree that this is entirely true. I don't think the top 500 businesses in the world produce zero real return. certainly it isn't 100% real either but don't agree it is 0%
1 replies ↓
Thomas 's avatar
Thomas 1 year ago
True, that is an average. If you invested in certain companies like Apple, Microsoft, Amazon, NVIDiA or Berkshire they generated real returns but many others didn’t by far.
1 replies ↓
forwardsteps 🪢's avatar
forwardsteps 🪢 forwardsteps@mynostr.com 1 year ago
Awesome. Yes, I listened to this today too. :) Thanks. Loved the quote too: “I can sell you a 20 million dollar painting but I can’t tell you why a piece of code is money. That’s an interesting paradox.”
Kurt's avatar
Kurt kurt@nostrplebs.com 1 year ago
Over the last 5 years the M2 money supply has grown at a rate of 6.6% on average, the S&P 500 has grown at 13.4% on average. Clearly inflation is a large portion of the return, but it isn't all of it. The stock market produces real return.
2 replies ↓
Kurt's avatar
Kurt kurt@nostrplebs.com 1 year ago
** if you include re-investing dividends, you'd be at 15%-16% return on the S&P over the last 5 years.
Thomas 's avatar
Thomas 1 year ago
If you look over a longer timeframe than just 5 years it gets closer. 😉 But I agree that good companies produce real returns but the index average not really over decades.
1 replies ↓
Kurt's avatar
Kurt kurt@nostrplebs.com 1 year ago
arguably it would be more favorable to your case just looking at the past 5 years as the money supply has greatly increased. since 1960 M2 is 6.88%. nominal stocks are around 10-11%. so a real return has been made to the stock investor
Pocupy's avatar
Pocupy 1 year ago
A small correction: his name is Tad Smith.
AlcoB's avatar
AlcoB 11 months ago
Once you connect the dots that the percentage increase in M2 is the hurdle rate for true real growth you will only want to store your energy in #bitcoin. View quoted note →
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