Why do people look at the dollar value of a coin instead of the Satoshi value?

gembirdprivate

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Quote from: shiroocrypto on April 13, 2018, 08:45:42 AM

So I see this very commonly in YouTube videos ... and in some telegram groups

Why do guys use the dollar value to evaluate the price instead of the sat value? The reason I ask is that all coins are pegged by the satoshi price, not the dollar price. So when the BTC/USD price goes down ... everything goes red naturally ... the exchanges do not report the same thing because they are in satoshi form, not dollar form

If you change the combobox from USD->BTC on coinmarketcap ... you get a different view of the crypto world

So why is the USD value more important than the satoshi (or eth) value of anything other than Bitcoin (and Eth)??

The usd value is more important than satoshi, because it is tied to different states.

Gabb

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That is a question that seems to me also lacking in all logic, and only seems to me explainable to strengthen the idea that many of the new investors who are putting their money in this market, do so solely and exclusively driven by the speculative eagerness, without a real commitment or interest of what cryptocurrencies can offer to change the economic relations of individuals.

If people are so interested in the value of cryptocurrencies in terms of the American dollar, it is because they are interested only in economic performance to sell them as soon as their price satisfies their ambitions.

jestbenen8

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Quote from: yndye on July 19, 2018, 12:16:08 AM

Quote from: Teebass001 on July 18, 2018, 11:58:15 PM

It's actually easier to calculate your gain or loses when you are using USD as your benchmark as against when it's pegged against btc. An increase in Satoshi value does not necessarily correspond to an immediate increase in USD. And vice versa

Since we invested using fiat currency then most likely you will only be able to see that you have gained some when its dollar value increase. If the satoshi increase but its value went down then you don't feel that much what you have gained that's why it is better to base your gains in USD than in satoshi.

But then it depends as well to what is your aim why you invested in a coin if you want to increase your satoshi or if you want to increase your dollar earnings. You have to decide because you will be confuse later on what you want to hold if it is more dollar or satoshi.

Apart from that, we cannot discard the idea that a lot of the cryptocurrency space is still centered on fiat and so many people use the fiat space as an hedge most especially when the prices of their asset is going in an unpleasing way.

Everything about the market is intertwined and it would only be realistic for people to be focusing more on the satoshi value when bitcoin on its own is bullish, but at the same time, you cannot trade btc against btc, and the only way to still go about it is to convert to fiat when in a downtrend.

izza123

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Because the dollar is more reliable and guaranteed in comparison with bitcoin and crypto-currencies.

joey alexander

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people should look at Satoshi value because you trade using Satoshi value as an indicator to the worth of an altcoin vs fiat value is simple. Alt coins are traded in BTC or Satoshis, and the fiat value of BTC fluctuates too much to use it as an indicator of the value of your alts. Instead, you must use something which does not change, which is the amount of Satoshis the altcoin costs.

sedahan13

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Because sathosi value also has high fluctuacion, and dolar is not. I think all trader and investor will look in to USD value in their crypto investment to know in profit or loss. Some newbies also did not understanding about sathosi value and they prefer to calculate their crypto value in to fiat money.

yndye

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Quote from: Teebass001 on July 18, 2018, 11:58:15 PM

It's actually easier to calculate your gain or loses when you are using USD as your benchmark as against when it's pegged against btc. An increase in Satoshi value does not necessarily correspond to an immediate increase in USD. And vice versa

Since we invested using fiat currency then most likely you will only be able to see that you have gained some when its dollar value increase. If the satoshi increase but its value went down then you don't feel that much what you have gained that's why it is better to base your gains in USD than in satoshi.

But then it depends as well to what is your aim why you invested in a coin if you want to increase your satoshi or if you want to increase your dollar earnings. You have to decide because you will be confuse later on what you want to hold if it is more dollar or satoshi.

Teebass001

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It's actually easier to calculate your gain or loses when you are using USD as your benchmark as against when it's pegged against btc. An increase in Satoshi value does not necessarily correspond to an immediate increase in USD. And vice versa

Doctor4You

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What's the use of looking at the Satoshi value unless you're simply curious?

Koadharber

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Quote from: Herbert2020 on July 16, 2018, 01:11:29 AM

Quote from: gabmen on July 16, 2018, 12:48:52 AM

Quote from: abanansah on July 15, 2018, 06:49:04 PM

It is dollar they invested and is the reason they need to look at the dollar value rather than the bitcoins value. Looking at the dollar value makes you understand the profit gain or loss inured.

Right. And let's face it, in today's time, fiat is still what you use in the real world. I doubt that there are many investors who are looking forward to the bitcoin value of their investments. It's always about the conversion.

that may be one of the reasons why they do it but i think the main reason is because they want to hype the coin that they are advertising and when using its fiat value you can have a bigger hype than when you are using its satoshi value because we all know that bitcoin price is rising so when an altcoin is pumped 100% against bitcoin if you report its price in satoshi you only report that 100% rise but if you report it in fiat you report the 100% rise + bitcoin price rise.

Regarding on the bolded words that you had said I'm not fully aware on how it do works when it comes to tallying up percentage profits. Are you sure about this? having an addition with percentage in fiat value + bitcoin price rise? yet most of the time Tracking sites doesn't show off such statistics and been wondering where you do get those computations? Care to share?

Dimon8

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Last 2 years interest in bitcoin has grown very much and this has affected its volatility. If you look at the price change chart for 2 years, you can see a sharp jump in price changes even within a day. USD is the most widely spread and stable in the world, because the cryptocurrency is converted into $.

TURBOCottonnmouth

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Doesn't bother me whether they look at the dollar value or the Satoshi value. It's all about "convenience," you know. That's it Wink

CordandAN

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I believe they do so because it's much easier to get a "feel" of what is going on in the market.

nicster551

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Quote from: shiroocrypto on April 13, 2018, 08:45:42 AM

So I see this very commonly in YouTube videos ... and in some telegram groups

Why do guys use the dollar value to evaluate the price instead of the sat value? The reason I ask is that all coins are pegged by the satoshi price, not the dollar price. So when the BTC/USD price goes down ... everything goes red naturally ... the exchanges do not report the same thing because they are in satoshi form, not dollar form

If you change the combobox from USD->BTC on coinmarketcap ... you get a different view of the crypto world

So why is the USD value more important than the satoshi (or eth) value of anything other than Bitcoin (and Eth)??

When I trade Bitcoin pairs, I usually see the price of Satoshis and not the dollar, but when I trade USD pairs then I would look into dollars and not satoshi pairs. Is that simple dude.

CokeIHead

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Just because measuring against something tangible should be way more convenient, I guess Wink

Cryptokarl

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I concur as many traders prefer to check the value of the dollars as mostly of them invested dollars into the market. It is good to check satoshi value as this determines wether the coin you bought is growing or not.

Personally, I prefer to check dollar value

cryptowhiz

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Because that is the actual value of the coin or token.
It gives the real view of the crypto market.
but its upto you how you want to see and analyse the market, If you prefer satoshi than go for it.

panjay

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because in the end everyone who want to spend the "sound money of cryptocurrency" must convert to fiat. No matter the price of the satoshi was, they will still think USD, because that's their end goal.

Herbert2020

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Quote from: gabmen on July 16, 2018, 12:48:52 AM

Quote from: abanansah on July 15, 2018, 06:49:04 PM

It is dollar they invested and is the reason they need to look at the dollar value rather than the bitcoins value. Looking at the dollar value makes you understand the profit gain or loss inured.

Right. And let's face it, in today's time, fiat is still what you use in the real world. I doubt that there are many investors who are looking forward to the bitcoin value of their investments. It's always about the conversion.

that may be one of the reasons why they do it but i think the main reason is because they want to hype the coin that they are advertising and when using its fiat value you can have a bigger hype than when you are using its satoshi value because we all know that bitcoin price is rising so when an altcoin is pumped 100% against bitcoin if you report its price in satoshi you only report that 100% rise but if you report it in fiat you report the 100% rise + bitcoin price rise.

gabmen

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Quote from: abanansah on July 15, 2018, 06:49:04 PM

It is dollar they invested and is the reason they need to look at the dollar value rather than the bitcoins value. Looking at the dollar value makes you understand the profit gain or loss inured.

Right. And let's face it, in today's time, fiat is still what you use in the real world. I doubt that there are many investors who are looking forward to the bitcoin value of their investments. It's always about the conversion.

Topic: Why do people look at the dollar value of a coin instead of the Satoshi value? (Read 1413 times)