Topic: How do you know when you are in profit? USD or Satoshi? - page 4. (Read 6078 times)
Thats actually your decision. Are you trading BTC against USDT or ALts to increase your BTC stack or are you doing it for Fiat profit? a good advice i heard one of this days is to keep track on both. So you know you are increasing your BTC, and you now if you are getting more profit that to just let your BTC alone and seeing the value growing.
For me I measure based on dollars because I mostly hold for a specific number of days and because I hold in btc, then the value of my 0.01btc is always constant since I don't keep where I get interest on deposit but the relative value on it in USD shows whether I am losing or not that my 0.01btc is no longer 25$ but now 32$ depending on the direction of price.
I think we should calculate profit or loses through dollars as it value is always statics. Satoshi reduce and increase in values in high rapidity. Though all the exchangers platform rate your trading in bitcoin but I don't see it in that way i see it like when it reach my hand.
I think it actually depends on your choice of currency, anyways mostly at the end of the day you are still converting your coins to USD or your country's currency right?
If you earn Satoshi it's mean you are earning in bitcoin it is a unit of bitcoin.As we know from Satoshi dollar far better. because there are many numbers of Satoshi is not even equal to 1 Dollar.So i will recommend USD. Your earnings would still depend on the convertion of the amount of btcs you've accumulated. Though for me personally, i don't really mind that because i usually put any earnings i get back to trading. I only withdraw when i need to so i'm not really that much concerned about the exchange rate to fiat yet
Exactly, It depends on the btc/USD conversion. Personally, I don't used USD but my local currency. But USD is also fine with me and I got to used with the conversion and I know when I have profited or not. I just look at the price of bitcoin then I just calculated in my mind how much I got today or should be getting specially if I do day trading. Then I just withdraw from trading platform the earnings and just left enough bitcoin to continue my trading practice.
Choose one of them to become your reference, if you trading btc with alt coin then I suggest you to just used bitcoin, don't get mixed up because sometimes you probably got minus in dollar but you can get positive in btc that is because the price of btc is dropping, it's a beginner confusion, just choose one then you can know you are having profit or not
I think it actually depends on your choice of currency, anyways mostly at the end of the day you are still converting your coins to USD or your country's currency right?
If you earn Satoshi it's mean you are earning in bitcoin it is a unit of bitcoin.As we know from Satoshi dollar far better. because there are many numbers of Satoshi is not even equal to 1 Dollar.So i will recommend USD. Your earnings would still depend on the convertion of the amount of btcs you've accumulated. Though for me personally, i don't really mind that because i usually put any earnings i get back to trading. I only withdraw when i need to so i'm not really that much concerned about the exchange rate to fiat yet
I think it actually depends on your choice of currency, anyways mostly at the end of the day you are still converting your coins to USD or your country's currency right?
If you earn Satoshi it's mean you are earning in bitcoin it is a unit of bitcoin.As we know from Satoshi dollar far better. because there are many numbers of Satoshi is not even equal to 1 Dollar.So i will recommend USD. 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%?
It really depends on what you want to do. If you want to keep your trading profits in cryptocurrency for a while before a big pump in btc occurs, you can say that you are in profit if the amount of satoshi you invested have multiplied. If you always cash it out and convert it onto fiat, you can say you are in profit if the amount of dollars you invested have multiplied. 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%?
Any gains in BTC is also a gain in USD value keep that in mind. There are just some variance in prices in exchanges since there are different activities in different markets.
This is not always true, for example you've closed your altcoin position with 5% profit in BTC, but Bitcoin dropped 10% during that time, than you've actually lost 5.5% of your investments USD value. So, both USD and BTC values of your trade are important. There are actually two methods of trading cryptocurrencies - one is only increasing your BTC value and stacking Bitcoin for long term, and the second is increasing your USD value at the current moment, by selling Bitcoins during peaks, even if it means that you have to close your position on altcoins prematurely. The second method is the most profitable, because you will be getting profit from both altcoin and Bitcoin volatility, but it's very hard to execute on practice and requires big amounts of attention and experience.
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 and amp 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%?
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%?
Well you have to choose your reference... every price is in reference of something else. If you value BTC more than USD, then you will be happy to make BTC gains. If you care about USD, then you will be happy if your USD go up... it's all about reference, there's no global value.
If you think BTC is a long term winner, then focus on making more BTC and forget about USD fluctuations.
I totally agree, although I would assume by mere logic that the main reason to join this world of crypto coins is the the desire acquire bitcoins and set aside fiat money, especially the dollar. So I always consider that I am in profit when at the moment of closing a trade it leaves me with more bitcoins than when I opened it.
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%?
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%?
It depends.
When you trade, it is with BTC/(other coins) which you measure your profit in BTC since it is the basis. While if you say Bitcoin alone then you ought to measure it with dollar since it is the basis. That's the simple logical explanation and no need to elaborate more. No need to be confused.
I think it actually depends on your choice of currency, anyways mostly at the end of the day you are still converting your coins to USD or your country's currency right?
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 something that depends upon your choice that which one you prefer to choose to compare whether you are in profit or not. Secondly we cannot deny the fact that in the end of a trade we need to convert our profit may be more or less but we need fiat for our routine activities therefore I personally check my profit with the USD. 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%?
Any gains in BTC is also a gain in USD value keep that in mind. There are just some variance in prices in exchanges since there are different activities in different markets.
This is not always true, for example you've closed your altcoin position with 5% profit in BTC, but Bitcoin dropped 10% during that time, than you've actually lost 5.5% of your investments USD value. So, both USD and BTC values of your trade are important. There are actually two methods of trading cryptocurrencies - one is only increasing your BTC value and stacking Bitcoin for long term, and the second is increasing your USD value at the current moment, by selling Bitcoins during peaks, even if it means that you have to close your position on altcoins prematurely. The second method is the most profitable, because you will be getting profit from both altcoin and Bitcoin volatility, but it's very hard to execute on practice and requires big amounts of attention and experience.
Any gains in BTC is also a gain in USD value keep that in mind. There are just some variance in prices in exchanges since there are different activities in different markets.
If you want to see the marketcap go down, that means every single altcoin needs to go down including bitcoin. Potentially bitcoin can carry the whole crypto market if it continues booming in price even if the other alts trail behind.
I would not say today that the crypto currency market is suffering some kind of disaster. If you follow the rates on the stock exchange, then any altcoin today shows very well the growth of its prices. As for Bitcoin, This is a snot question and I see that today we will see very good indicators and the course of care will be pleasantly surprised by the prices for the crypto currency. Btw, what is happening when the general total market cap goes down but the bitcoin price goes up? If the bitcoin price goes up that must mean more people are flooding in to buy? But how can the general total marketcap go down then?
If you want to see the marketcap go down, that means every single altcoin needs to go down including bitcoin. Potentially bitcoin can carry the whole crypto market if it continues booming in price even if the other alts trail behind.
Any gains in BTC is also a gain in USD value keep that in mind. There are just some variance in prices in exchanges since there are different activities in different markets.
If you want to see the marketcap go down, that means every single altcoin needs to go down including bitcoin. Potentially bitcoin can carry the whole crypto market if it continues booming in price even if the other alts trail behind.
Btw, what is happening when the general total market cap goes down but the bitcoin price goes up? If the bitcoin price goes up that must mean more people are flooding in to buy? But how can the general total marketcap go down then?
If you want to see the marketcap go down, that means every single altcoin needs to go down including bitcoin. Potentially bitcoin can carry the whole crypto market if it continues booming in price even if the other alts trail behind.
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%?
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%?
you need to look at the value on bitcoin not usd, because if you have 0.01 and you have then 0.02 you made 100% profit, even if the value of bitcoin go down, but this is more true with mining, because you don't acquire bitcoin v ia buying when you mine, if you invest 0.01 with $10, but you gain 0.02 that are worth now $5, you have a loss ther,e but again if the bitcoin increase after that you are not losing anymore
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.
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.
Btw, what is happening when the general total market cap goes down but the bitcoin price goes up? If the bitcoin price goes up that must mean more people are flooding in to buy? But how can the general total marketcap go down then?
the total market cap is the sum of a couple of hundred altcoins' market cap. and among these altcoins there are so many that have fake market cap. also almost all of them are pump and dumps.
so when they get dumped hard, their prices fall so (market cap = price * supply) goes down. and the bigger their supply is the bigger the drop will be when their price tanks.
Btw, what is happening when the general total market cap goes down but the bitcoin price goes up? If the bitcoin price goes up that must mean more people are flooding in to buy? But how can the general total marketcap go down then?
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