Topic: How do you know when you are in profit? USD or Satoshi? (Read 6066 times)

Always trying to trade comparing with btc, because I want to have more btc. As bitcoin is a gold, I want to have more gold) if you want to increase your money just buy altcoins and hold)

Yeah, as long as you're higher in USD as compared to when you bought you're in profit. The hard decision is to decide how long to hold to still remain in profit and cut out loss.

If you are confident in the future of the crypto currency and think that Bitcoin will be used in the future as the main method of payment for goods, then you need to take into account the profit in Satoshi and not in USD.

If the instrument is trading only for BTC that USD value is a fraud and looking at it can lose your money. If you can sell your altscoin for USD/usdt than go ahead and check USD value

I see it this way, once you have your money in the Satoshis or in Bitcoins, you'll get its equivalent when it converts into the dollars. So I think they're the same. The apps and softwares we use to monitor the prices also use the conversion rates at current price and so whether it's in Satoshis or dollars then they're the same. That's my opinion though!

You are trading cryptocurrency right?? Since you are trading with crypto, your main basis is in satoshi and not in USD. Your main goal as a trader is to increase your number of Bitcoin in an exchange you are using. Most of the alts use BTC as a pair but unless you are using a Fiat currency pairing like EOS/USD pairing then you must use USD as your basis.

The market price only checks when you want to trade the coin in the case you are a day trader I give more preference to the transfer coin dominance rate which is the true measure for the value of a coin

For sure there are people who do look up on btc chart and seeing if the price is still low or high for them to make decisions either they would sell or decide to hold it up because they cant see big profits when the price of bitcoin is still low. Prices do really correlate to each other specially when you are computing for profits. This thing would really matter but there are some people who dont really matter on satoshi since they are always seeing on usd value.

I was thinking about this again earlier today and wondered if there is a way in graphically comparing the both?
Like on tradingview showing moving averages for example but then showing the the BTC/USD rate in the same chart?
Does anyone here do that? Showing both the chart of an altcoin and that of btc/usd next to eachother in order to figure out when to buy/sell?

Always compare it to Satoshi

I always compare alts investments to how much I would have made if I had just bought bitcoins and not alts. They are probably the best real indicator of price.

For example, u buy a coin at $5 and it goes to 10. Bitcoin however went from 5k to 15k. If you had just not sold bitcoin for alts, you would have made more.

Hello everyone,
nice discussion, thank you for helping.

So let me create an example to see if I got this right:

If I have today an altcoin that is -10% USD compared with the USD price I have bought it, but it is +20% compared with bitcoin price (because bitcoin value has decreased since the time I used it to buy the altcoin) It is a good decision to trade the altcoin now for bitcoin, even if I am losing in terms of USD. So this way (and in particular if I plan to hodl my bitcoin for the long run) I can have more profit than just hodling that altcoin until gaining profit in USD. Correct?

Tks!

You are in profit when the USD amount is bigger than the USD amount you came in with it is as simple as that. But I think most proper traders like to measure in BTC because it makes the game harder and I myself am a competitive person and I want to win in the most competitive environment. The choice is yours but if you play the harder game and can win it, you probably stand to gain more that way than by playing the other way. Although it is easier for the brain to understand when your up in USD your up in USD. Again the choice is yours, don't think too hard about it now!

I used to look into dollar value but I don't think you should do that. I was trading and seeing my $ value increase, but my bitcoin value was decreasing. We were in complete bull market at that time and I was happy, thinking I was doing great trade. Then I realized that if I had just hold my bitcoins during those bull runs, I would have much more $ than what I was actually making. So although I was seeing my bankroll increase, I was actually losing money, because I was losing bitcoin.

I think you should always check you profit in bitcoins. Notice that this works for a bear market as well. If bitcoin is falling, you should of course sell it to dollars. By doing this, you will see that although your dollar stack might be the same, your bitcoin value is actually increasing again, because if you buy at a lower price you will get more bitcoins out of it. You will know you are doing great in a bear market when you see both your bitcoin and $ bankroll increasing, and you can do this if you manage to buy the oversold bounces.

I always take notes if I purchase coins from exchange platforms. I write down my buying satoshi values so I don't forget them. I also write down usd value of my buy orders to calculate my profit in the best way.

First of all we are on this forum because we do believe on bitcoin mainly but talking already on full adoption then this thing would really be just a dream.Seeing on current issues and news then i would say its not really possible anymore but somehow it do manage to increase its price.All of us are hoping to hold lots of btc because we do see its potential.Back to topic when i do profit i do usually look on btc value too, im not seeing USD rate since it do change anytime.

Many thanks for this interesting thread. These are curious days when the streets are red with blood. 😲
This thread may be highly relevant. My thoughts...
Checking my portfolio in the USD valuation tells me I'm down plenty in these first weeks of 2018.
The BTC value however has gone up noticeably more, of course due to the 'correction'. So why should I look at the USD value? To see that I'm losing fiat? That's ridiculous. I got into this game because I hope and believe btc has a bright future ahead. I'm not talking about using it to buy coffees or pizzas with it but that it will be, as it already more or less is now, a reserve world currency, which, as the gold standard once before, will be a true store of value. So consequently I'm keeping a close look at the amount of BTC I'm accumulating while believing BTC will bounce back eventually. I'm in it for the long run. Don't get me wrong, I believe in the future of some altcoins as well but I believe eventually they will be the silvers, bronzes and coppers of the gold Bitcoin.
Please share your thoughts!

Only Bitcoin can be compared to cash.  All other coins must use satoshi.
 
The dollar price is calculated from Bitcoin's price.  The only way to know if your coin went up is to look at Satoshi.
 
When people compare alt coins with price, I understand that they do not understand.

This would be my first message here. As you would understand, i jumped into cryptocurrency world very late.
I started to buy little bit btc and trading with some altcoins 3 weeks ago. I ended up reading this thread :p Because i noticed even some altcoins i invested raised since my start point, at the end my money (which i check usd equivalent) didnt go up well.

First of all, the main reason seems to be transferring and trading process (i am not using wallet yet since i want to learn more about this world first). The fee i paid to cex.io while transferring my main money from bank account, buying some btc or eth from cex.io (which also has fee), transferring by btc to binance (also transfer fee which is 0.01 btc), trading with some altcoins (some small fee in binance). And if want to cashout my profit, i need to do reverse process which will lower my profit more and unless i really don't invest and gain big profit, i will have no real profit in my bank account.

About the main topic which is this thread about it is also tricky for me. I really don't know how to make profit even my coins raise
Because lets say the xrp i have raised 40% in usd or in btc since i bought. But what does that mean? btc might get lowered in the meantime comparing to usd. So if i want to cashout my profit, i see there is no difference in usd even xrp raised 40%. And considering the fees for converting xrp to btc, transferring to cex.io, withdrawing as usd will make me losing money even.

i know i wrote in complicated way since i am confused a lot about all this :p

when you say satoshi, you mean btc right?  Im curious what do most people here look at in terms of profit?  I mean shouldnt usd be what you should be looking at?

In money management terms, I think of BTC as the market, and gaining in terms of BTC is considered outperforming the market. It may also be sensible to think of the market as a mix of BTC and ETH