@OP
Don't bump your post 10 minutes after you make it.
Don't bump your post 10 minutes after you make it.
I'm sorry - will not happened again.
Topic: Simple BTC-E question (Read 1128 times)
I'm sorry - will not happened again.
@OP
Don't bump your post 10 minutes after you make it.
Don't bump your post 10 minutes after you make it.
I believe BTC-E takes their cut out of the BTC you receive, so:
You would sell your 100 USD and receive 1 BTC minus 0.2% (0.998 BTC).
We want that 0.998BTC to be worth 100 USD, after the fee--which means 100USD is 99.8% of the sale price.
100 / .998 will give us the total sales price: 100.2004008...
So you would need to sell your .998BTC for roughly 100.2004USD, but we measure price in the 1 BTC = x USD format, so:
0.998 BTC is 99.8% of the ideal price of 1 BTC, which means 100.2004 is 99.8% of the price of 1 BTC.
100.2004 / .998 = 100.4012
So you would need to sell when the price is 100.4012 USD per bitcoin.
To test this:
.998 BTC * 100.4012USD = 100.2003976USD, minus .2% (100.2003976 * .998 = 99.999996... USD)
Of course it doesn't add up to exactly 100USD, because I truncated a few decimal places
You were very close in your original thinking ((100 * 1.002) * 1.002), but to be precise you have to look at it the way I outlined it above.
Alright class, if anyone has a question please raise your hand
You would sell your 100 USD and receive 1 BTC minus 0.2% (0.998 BTC).
We want that 0.998BTC to be worth 100 USD, after the fee--which means 100USD is 99.8% of the sale price.
100 / .998 will give us the total sales price: 100.2004008...
So you would need to sell your .998BTC for roughly 100.2004USD, but we measure price in the 1 BTC = x USD format, so:
0.998 BTC is 99.8% of the ideal price of 1 BTC, which means 100.2004 is 99.8% of the price of 1 BTC.
100.2004 / .998 = 100.4012
So you would need to sell when the price is 100.4012 USD per bitcoin.
To test this:
.998 BTC * 100.4012USD = 100.2003976USD, minus .2% (100.2003976 * .998 = 99.999996... USD)
Of course it doesn't add up to exactly 100USD, because I truncated a few decimal places
You were very close in your original thinking ((100 * 1.002) * 1.002), but to be precise you have to look at it the way I outlined it above.
Alright class, if anyone has a question please raise your hand
T-thanks
http://img.pandawhale.com/42255-Im-not-a-smart-man-Forrest-Gum-W2X0.jpeg
I believe BTC-E takes their cut out of the BTC you receive, so:
You would sell your 100 USD and receive 1 BTC minus 0.2% (0.998 BTC).
We want that 0.998BTC to be worth 100 USD, after the fee--which means 100USD is 99.8% of the sale price.
100 / .998 will give us the total sales price: 100.2004008...
So you would need to sell your .998BTC for roughly 100.2004USD, but we measure price in the 1 BTC = x USD format, so:
0.998 BTC is 99.8% of the ideal price of 1 BTC, which means 100.2004 is 99.8% of the price of 1 BTC.
100.2004 / .998 = 100.4012
So you would need to sell when the price is 100.4012 USD per bitcoin.
To test this:
.998 BTC * 100.4012USD = 100.2003976USD, minus .2% (100.2003976 * .998 = 99.999996... USD)
Of course it doesn't add up to exactly 100USD, because I truncated a few decimal places
You were very close in your original thinking ((100 * 1.002) * 1.002), but to be precise you have to look at it the way I outlined it above.
Alright class, if anyone has a question please raise your hand
You would sell your 100 USD and receive 1 BTC minus 0.2% (0.998 BTC).
We want that 0.998BTC to be worth 100 USD, after the fee--which means 100USD is 99.8% of the sale price.
100 / .998 will give us the total sales price: 100.2004008...
So you would need to sell your .998BTC for roughly 100.2004USD, but we measure price in the 1 BTC = x USD format, so:
0.998 BTC is 99.8% of the ideal price of 1 BTC, which means 100.2004 is 99.8% of the price of 1 BTC.
100.2004 / .998 = 100.4012
So you would need to sell when the price is 100.4012 USD per bitcoin.
To test this:
.998 BTC * 100.4012USD = 100.2003976USD, minus .2% (100.2003976 * .998 = 99.999996... USD)
Of course it doesn't add up to exactly 100USD, because I truncated a few decimal places
You were very close in your original thinking ((100 * 1.002) * 1.002), but to be precise you have to look at it the way I outlined it above.
Alright class, if anyone has a question please raise your hand
You need to sell your Bitcoins again for the buying price plus ~0,4004008% to not lose any money. So bougth @113,4 Dollar per Bitcoin, sell it for 113,855 Dollar (+0,454..)(113,4 * 1,004004008).
Hi.
I have a simple mathematical problem to solve about BTC-E.
Let's say, you buy 1 BTC with a value of 100 USD. After that, you would like to know, what should be the minimum value, that you need to resell it, without any losses.
Transactions fees are 0.2%.
What should be the minimal value to resell my 1 BTC, so I can cover all my fees?
To give something back to you, for reading my post - here is an simple PHP snippet, that will read your "give-me-ltc" pool stats and btc-e's LTC values.
It should be easly modified to your needs.
I have a simple mathematical problem to solve about BTC-E.
Let's say, you buy 1 BTC with a value of 100 USD. After that, you would like to know, what should be the minimum value, that you need to resell it, without any losses.
Transactions fees are 0.2%.
What should be the minimal value to resell my 1 BTC, so I can cover all my fees?
- 0.2% of 100 USD = 100.2 USD + another 0.2% to sell my BTC back = 100.4 USD ot 0.4% in fees
- 0.2% of 100 USD = 100.2 USD, but you need to apply the sell fee on 100.2 USD. That should be 100.2004 with all my fees
- You don't know shit (I agree) - it should be that way
To give something back to you, for reading my post - here is an simple PHP snippet, that will read your "give-me-ltc" pool stats and btc-e's LTC values.
It should be easly modified to your needs.
Code:
$pool_api ="http://give-me-ltc.com/api?api_key=XXXXXXXXXXXXXXXXXXXXXXXXXX"; //EDIT ME
$btc_e_api ="https://btc-e.com/api/2/ltc_usd/ticker"; //EDIT ME
$give_me_ltc = file_get_contents($pool_api);
$btc_e = file_get_contents($btc_e_api);
$api_btc_e = json_decode($btc_e,true);
$api_give_me_ltc = json_decode($give_me_ltc,true);
$high = $api_btc_e["ticker"]["high"];
$low = $api_btc_e["ticker"]["low"];
$buy = $api_btc_e["ticker"]["buy"];
$sell = $api_btc_e["ticker"]["sell"];
$rewords = $api_give_me_ltc["confirmed_rewards"];
$hashrate = $api_give_me_ltc["total_hashrate"];
$username = $api_give_me_ltc["username"];
$worker1 = $api_give_me_ltc["workers"][$username.".1"]["hashrate"]; //EDIT ".1"
$worker2 = $api_give_me_ltc["workers"][$username.".2"]["hashrate"]; //EDIT ".2"
$worker3 = $api_give_me_ltc["workers"][$username.".3"]["hashrate"]; //EDIT ".3"
$worker4 = $api_give_me_ltc["workers"][$username.".4"]["hashrate"]; //EDIT ".4"
$rewords_cash = $rewords*$sell;
echo "High: ".$high.
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?>
$btc_e_api ="https://btc-e.com/api/2/ltc_usd/ticker"; //EDIT ME
$give_me_ltc = file_get_contents($pool_api);
$btc_e = file_get_contents($btc_e_api);
$api_btc_e = json_decode($btc_e,true);
$api_give_me_ltc = json_decode($give_me_ltc,true);
$high = $api_btc_e["ticker"]["high"];
$low = $api_btc_e["ticker"]["low"];
$buy = $api_btc_e["ticker"]["buy"];
$sell = $api_btc_e["ticker"]["sell"];
$rewords = $api_give_me_ltc["confirmed_rewards"];
$hashrate = $api_give_me_ltc["total_hashrate"];
$username = $api_give_me_ltc["username"];
$worker1 = $api_give_me_ltc["workers"][$username.".1"]["hashrate"]; //EDIT ".1"
$worker2 = $api_give_me_ltc["workers"][$username.".2"]["hashrate"]; //EDIT ".2"
$worker3 = $api_give_me_ltc["workers"][$username.".3"]["hashrate"]; //EDIT ".3"
$worker4 = $api_give_me_ltc["workers"][$username.".4"]["hashrate"]; //EDIT ".4"
$rewords_cash = $rewords*$sell;
echo "High: ".$high.
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?>
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