How do you know when you are in profit? USD or Satoshi? - page 2.

KCR

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Quote from: robelneo on June 21, 2017, 03:21:46 PM

You have to look both ways in my case if I bought Bitcoin when the dollar was down and after a week the dollar went up against our currency eventhough bitcoin price did not move I am on profit ,you have to watch both the price of bitcoin and the price of your local currency it's quite tricky and you need a tool like Preev and the dollar to your local currency so you can calculate your profit and lost.

I am not able to look at the buy price of the alt coins after a few days on major exchanges like Binance?

Is there any way that I can look at the buy price and the current price and calculate the profit based on those prices? Please do let me know.

KCR

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Quote from: danherbias07 on June 22, 2017, 10:35:26 AM

Keep you mind on the BTC/satoshi profit.
You can easily see the price of BTC but not the altcoins. Sometimes they are hard to find to how much value they are or the exchange rate of each altcoin.
Plus, both are changing in price so why not focus on just earning BTC and let the flow of money just go on.
You can look at it after the profit from satoshis.

Where can you see the satoshis?

ausbit

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Quote from: olazet1993 on December 11, 2017, 10:37:14 AM

Just compare with the price , i usually compare with the USD price to spot how much i made.

You need to maintain a record in which you have you list down all the details regarding buying of the bitcoins which you have in your wallet. Analyze the market price whenever you want to know whether you are going in profit or loss.

Compare the current market price of bitcoin with that amount at which you bought those bitcoins. Taking the difference in between will help you know the current statistics.

xwshamim

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https://t.me/xwshamim

I think fully your descision in which way you want to.make profit but I think you should count your profit on satoshi then you ll be profitable in both way in $$ more and also your satoshi increasing means your investment is getting double and also btc price will move thus you ll make a great profit.

3philong

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For me, I always want to increase my satoshi number. Thus, the increase in profit is the increase in the number of satoshi

bribed

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For me its always important to look at my initial investment versus my current investment value. As the initial investment was most of the time done via Bitcoin, as most markets for alts are BTC / alt, it makes no sense to look at the dollar value there. Some people disagree, but thats how I judge my investments. With the current rally of Bitcoin my overall profits have nearly vanished from this perspective (clearly had too much alts), but USD wise Im still in good profit, but as I dont plan to cash out to fiat anytime soon, I just measure it in BTC and therefore Im way in a loss compared to have just held on my BTC that I initially had.

quangnm

newbie

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I usually take profit by both BTC and USD, i spilited my investment into 2 different exchanges. So decrease risk of holding coin

ForeverSmall

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it easy it only math man
example : you have 1 bitcoin and its worth 15k$ today , tomorrow it worth 16k$ => you profit 1k$ in USD
when you want to calculate profit in something just change all of them in to USD

olazet1993

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Just compare with the price , i usually compare with the USD price to spot how much i made.

Manrake

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Recently Litecoin upped about 50% in usd price so I felt a little bad because I had just traded litcoin for bitcoin thinking that bitcoin would have I faster increase in the long run.
But then when looking at the litecoin price chart I see that the price in bitcoin for one litecoin has steadily been going down the last three months, which means I've been getting more litcoin per bitcoin if I'm using bitcoin as a reference. So If I've understood It right, if one litecoin becomes cheaper and cheaper to buy in bitcoins as time pass by then that means that bitcoin is actually increasing in value faster than litecoin?

Sleepy18

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For me, all of the altcoin can be your reference and also in dollars because now a days all of these cryptocurrent has a dollar value. And their values changes from time to time. So if you choose satoshi as your reference you will know if you gain or not when to convert it to dollar, same as btc to dollar but btc to satoshi has a fix value. If im not mistaken 0.001btc is equal to 100 000 satoshi. So you will know if your satoshi increase its value when bitcoin increases its value. Same goes to other altcoins, the have value in dollar that changes every single day and these altcoin can be convert to other altcoins and also converted to bitcoin. So there's so many reference that you can choose depending on your point of view. What really matters is that if your going to invest on that altcoin and know if your investment increase its value or you lose a certain amount.

gamerfan

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BUY BITCOIN WITH PAYPAL AND CREDIT CARDS

Quote from: elektra on June 21, 2017, 01:41:58 PM

I am a little confused because I have always looked at the satoshi prices, but sometimes I hear people say that you should look at the dollar value if you are in profit or not. But when you trade at an exchange to BTC all the peaks and vallies are measured in BTC? Should you follow dollar value or satoshi value to know if you are in profit? Or do just have to choose one of them and stick to it? For example if I buy at 0.1 satoshi and now the chart show 0.12 satoshi I think I am in profit? But is that not always the case? I am using cointracking for example to see if I am in profit or not. If I look at BTC value of Doge I am currently in -7% on the coin, but if I switch to dollar I am +0.09% It is very confusing..

Does it have to do with if you plan to keep your money inside crypto or take it out? If you plan to take it out I guess dollar is more important, but my plan is to stay in crypto for the long term so dollar value is not even important at that point...?

I mean if you buy a coin at 0.1 satoshi and you sell it at 0.2 satochi you have sold in "profit" even if btc would have sunken 90%?

This is a very good thread. I think it's crucial to pick a 'reference currency' otherwise you will never know if you are gaining or losing, as you already pointed out. Choosing the right currency to be a reference is not so easy though. Consider dollars and other fiat currency are inflationary, so their value decrease as time goes by. Yet Bitcoin is very volatile, so it's difficult to choose BTC as a reference currency as well.

decryptionary

newbie

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I use blockfolio to easily see the USD change in value even if I am trading against bitcoin.

I've got more tips in my walkthrough: https://decryptionary.com/what-is-cryptocurrency/introduction-to-cryptocurrency/

Skarner21

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Massive price drop coming...

Quote from: CyberKuro on July 02, 2017, 05:30:09 PM

Quote from: elektra on June 21, 2017, 01:41:58 PM

I am a little confused because I have always looked at the satoshi prices, but sometimes I hear people say that you should look at the dollar value if you are in profit or not. But when you trade at an exchange to BTC all the peaks and vallies are measured in BTC? Should you follow dollar value or satoshi value to know if you are in profit? Or do just have to choose one of them and stick to it? For example if I buy at 0.1 satoshi and now the chart show 0.12 satoshi I think I am in profit? But is that not always the case? I am using cointracking for example to see if I am in profit or not. If I look at BTC value of Doge I am currently in -7% on the coin, but if I switch to dollar I am +0.09% It is very confusing..

Does it have to do with if you plan to keep your money inside crypto or take it out? If you plan to take it out I guess dollar is more important, but my plan is to stay in crypto for the long term so dollar value is not even important at that point...?

I mean if you buy a coin at 0.1 satoshi and you sell it at 0.2 satochi you have sold in "profit" even if btc would have sunken 90%?

Whether you measure it in cryptocurrency or USD, as long as your capital has increased then you get profit.
But usually people like to cash out their profit in form of fiat currency, so they compare the value of bitcoin worth in USD which more reliable/stable than fluctuate digital currency (volatile). If you want to get profits as soon as possible, than you should measure bitcoin value worth in fiat currency but if you love to hold bitcoin then it doesn't matter as long as your bitcoin keep growing.

Cryptocurrency is always changing value if we measure it in usd we are gaining profit since the price of bitcoin is increasing fast in the past month you don't need to measure the usd you should focus in the price of bitcoin and amount of your bitcoin. if bitcoin price was increase its value except that the price value is increase and you are gaining profit or if you increase the amount of your bitcoin it can increase also the profit but there is more possibility that you gain more profit if the price of bitcoin will increase..

CyberKuro

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Quote from: elektra on June 21, 2017, 01:41:58 PM

I am a little confused because I have always looked at the satoshi prices, but sometimes I hear people say that you should look at the dollar value if you are in profit or not. But when you trade at an exchange to BTC all the peaks and vallies are measured in BTC? Should you follow dollar value or satoshi value to know if you are in profit? Or do just have to choose one of them and stick to it? For example if I buy at 0.1 satoshi and now the chart show 0.12 satoshi I think I am in profit? But is that not always the case? I am using cointracking for example to see if I am in profit or not. If I look at BTC value of Doge I am currently in -7% on the coin, but if I switch to dollar I am +0.09% It is very confusing..

Does it have to do with if you plan to keep your money inside crypto or take it out? If you plan to take it out I guess dollar is more important, but my plan is to stay in crypto for the long term so dollar value is not even important at that point...?

I mean if you buy a coin at 0.1 satoshi and you sell it at 0.2 satochi you have sold in "profit" even if btc would have sunken 90%?

Whether you measure it in cryptocurrency or USD, as long as your capital has increased then you get profit.
But usually people like to cash out their profit in form of fiat currency, so they compare the value of bitcoin worth in USD which more reliable/stable than fluctuate digital currency (volatile). If you want to get profits as soon as possible, than you should measure bitcoin value worth in fiat currency but if you love to hold bitcoin then it doesn't matter as long as your bitcoin keep growing.

Qartersa

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Quote from: Cosbycoin on July 02, 2017, 04:02:02 PM

Quote from: raven7886 on July 02, 2017, 02:20:54 PM

Quote from: MRlong on July 02, 2017, 11:13:27 AM

I always use Bitcoin is value for calculate my profit, because I trading BTC/Altcoins and I will make profit with Bitcoin, not is USD. I want earning more Bitcoin before it very popular, reach to highest price and very difficult when earning it. Every month, I sell some Bitcoin to FIAT and use it as salary for my life

I guess for altcoin trading the profit decider must be number of satoshi where in bitcoin trading against fiats, fiat value should be taken into consideration for profit/loss calculations.

Honestly we do not need to have any confusion here on basis or against what we are trading that should be taken for considering profit and loss calculations.

In trading pair notation like x/y : x must denote as the trading asset and y is the profit decider. In BTC/USD, dollars must be the profit decider and in LTC/BTC, bitcoins must be the profit decider.

Good explanation. But I never had any confusion for measuring my profit losses but after reading OP's concern I just got fe doubts whether I am doing right or not. I guess profit calculations could be not by both USD and satoshi levels and like you said where we are trading and what we are trading will give us clear idea on how to measure profits.

The better thing to do is measure it in btc or satoshis. As we are actually dealing with bitcoins and not really the USD value. If you are earning in BTC then you should be measuring it in that and not USD as the latter cannot be influenced (unless you are a damned whale who can make a big ass impact on prices).

Cosbycoin

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Quote from: raven7886 on July 02, 2017, 02:20:54 PM

Quote from: MRlong on July 02, 2017, 11:13:27 AM

I always use Bitcoin is value for calculate my profit, because I trading BTC/Altcoins and I will make profit with Bitcoin, not is USD. I want earning more Bitcoin before it very popular, reach to highest price and very difficult when earning it. Every month, I sell some Bitcoin to FIAT and use it as salary for my life

I guess for altcoin trading the profit decider must be number of satoshi where in bitcoin trading against fiats, fiat value should be taken into consideration for profit/loss calculations.

Honestly we do not need to have any confusion here on basis or against what we are trading that should be taken for considering profit and loss calculations.

In trading pair notation like x/y : x must denote as the trading asset and y is the profit decider. In BTC/USD, dollars must be the profit decider and in LTC/BTC, bitcoins must be the profit decider.

Good explanation. But I never had any confusion for measuring my profit losses but after reading OP's concern I just got fe doubts whether I am doing right or not. I guess profit calculations could be not by both USD and satoshi levels and like you said where we are trading and what we are trading will give us clear idea on how to measure profits.

dothebeats

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Cashback 15%

I take profits in BTC since the value for USD is just too volatile right now. Also, I cash out whenever I needed to and not to book profits unlike most traders are doing. This is to ensure that I would be getting the maximum profit that I want from the entry point that I had.

raven7886

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Quote from: MRlong on July 02, 2017, 11:13:27 AM

I always use Bitcoin is value for calculate my profit, because I trading BTC/Altcoins and I will make profit with Bitcoin, not is USD. I want earning more Bitcoin before it very popular, reach to highest price and very difficult when earning it. Every month, I sell some Bitcoin to FIAT and use it as salary for my life

I guess for altcoin trading the profit decider must be number of satoshi where in bitcoin trading against fiats, fiat value should be taken into consideration for profit/loss calculations.

Honestly we do not need to have any confusion here on basis or against what we are trading that should be taken for considering profit and loss calculations.

In trading pair notation like x/y : x must denote as the trading asset and y is the profit decider. In BTC/USD, dollars must be the profit decider and in LTC/BTC, bitcoins must be the profit decider.

bouren

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Quote from: elektra on June 21, 2017, 01:41:58 PM

I am a little confused because I have always looked at the satoshi prices, but sometimes I hear people say that you should look at the dollar value if you are in profit or not. But when you trade at an exchange to BTC all the peaks and vallies are measured in BTC? Should you follow dollar value or satoshi value to know if you are in profit? Or do just have to choose one of them and stick to it? For example if I buy at 0.1 satoshi and now the chart show 0.12 satoshi I think I am in profit? But is that not always the case? I am using cointracking for example to see if I am in profit or not. If I look at BTC value of Doge I am currently in -7% on the coin, but if I switch to dollar I am +0.09% It is very confusing..

Does it have to do with if you plan to keep your money inside crypto or take it out? If you plan to take it out I guess dollar is more important, but my plan is to stay in crypto for the long term so dollar value is not even important at that point...?

I mean if you buy a coin at 0.1 satoshi and you sell it at 0.2 satochi you have sold in "profit" even if btc would have sunken 90%?

First of all when you investing in Cryptocurrencies, you invest BTC not USD. So btc is your base money and profits must be calculated in terms of satoshis.
So when you invest in cryptocurrencies, you need to follow either of the one assumption below to to determine profits-
1. Bitcoin is equivalent to money, not investment
Or
2. Recognize bitcoin as first investment and cryptocurrencies be secondary investment. So calculate cryptocurrency/BTC profits first in satoshis term then calculate final profits in terms of USD/BTC @ you bought and sell BTC.

Topic: How do you know when you are in profit? USD or Satoshi? - page 2. (Read 6066 times)