Topic: Why we shouldn't look at $ value but satoshis? (Read 292 times)
jep bitcoin is not a currency people work for, the current regional currencies still matter despite the banking cartells that own them arent doing a good job.
It depends about how you are trading. If you are trading against BTC, you should look at the number of satochis. If you are playing against dollars, look at USD. But most people i think trade against BTC. It is very difficult to win against BTC. It is only possible in the short term. If you lose against BTC, you may still win against USD. But you may not win as much as if you had more satochis.
I think it all depends on your goals, whether you want to profit in dollars or profit in Bitcoin. I even want to profit from Bitcoin, but I have several friends who earn in Dollars and for them it is very good because the trade is easier to make when it is in dollars because the variation is smaller than in Bitcoin.
Today I want to increase my amount of Bitcoin so I always see my altcoins when values are higher in satoshi, but that is my goal.
Today I want to increase my amount of Bitcoin so I always see my altcoins when values are higher in satoshi, but that is my goal.
good question!
what we need to realise is that 1BTC today is still the same single bitcoin mined in 2010.
to me the current mindset among crypto people is really about $'s but it is based on how much BTC i can get for my $,
its a bit like chicken and egg, we are so focused on the $ price of BTC purely because most of us have to buy it.
i'm sure miners or people who earn solely through BTC dont worry too much about the day to day value because 1BTC is always 1BTC
what we need to realise is that 1BTC today is still the same single bitcoin mined in 2010.
to me the current mindset among crypto people is really about $'s but it is based on how much BTC i can get for my $,
its a bit like chicken and egg, we are so focused on the $ price of BTC purely because most of us have to buy it.
i'm sure miners or people who earn solely through BTC dont worry too much about the day to day value because 1BTC is always 1BTC
Beicin's explanation isn't bad it's a way to know whether or not you made a good deal. If you haven't lost money in terms of dollar but lost in satoshi you should have left it in satoshi where you would have made more money.
Saying it useless to look at USD I disagree because at the end of the day if you are up you are up... its an opportunity cost not a loss.
Saying it useless to look at USD I disagree because at the end of the day if you are up you are up... its an opportunity cost not a loss.
I always read don't look at the value of a coin in terms of USD but instead in terms of satoshi.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
why do we have to orient our economic perception on bitcoin?
bitcoin isnt something that serves, common social goals, i mean considering as interest towards the current worlds financial elite, yes but not regarding other things.
Looking at satoshis is an easy way to measure if your crypto investments are doing better than just holding bitcoin, which is much simpler and safer. So for having the trouble of going to an exchange, trading your btc for something else... You'd atleast expect it to outperform btc, thats why almost everyone values their alts in sats.
Yea okay that makes sense... I like this explanation...
I always read don't look at the value of a coin in terms of USD but instead in terms of satoshi.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
Well as i understand it, it actually means you have to multiply the amount of bitcoin you own. You can't just be satisfied with the amount of bitcoin that you have right now and know for sure your money in dollars is growing. Coz if the bitcoin price rises and the amount of bitcoin you own increases then your profits will also be doubled.
Looking at satoshis is an easy way to measure if your crypto investments are doing better than just holding bitcoin, which is much simpler and safer. So for having the trouble of going to an exchange, trading your btc for something else... You'd atleast expect it to outperform btc, thats why almost everyone values their alts in sats.
I always read don't look at the value of a coin in terms of USD but instead in terms of satoshi.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
If you are trading the idea behind it is this, while you may have gained in USD amount you would simply have been better off to buy and hold bitcoin. As a trader you generally should be aiming to do better than that alone and so you want to gain satoshis/bitcoins.
I think it's because most exchanges peg BTC to the respective alt coins, therefore you'll have to purchase BTC in order to buy alt coins.
Satoshis if you're trusting BTC to replace fiat.
If you feel like you will have to cash out, then USD.
If you feel like you will have to cash out, then USD.
i dont think bitcoin can replace fiat, but the current financial communal systems will be changed irreversably by cryptoeconomics, bitcoin is just the current flagship and ethereum as the encription plattform but that will change.
regards
I always read don't look at the value of a coin in terms of USD but instead in terms of satoshi.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
well it depents wich financial regime you trust, the bitcoin one or the USD one,
both can end up bad or good, but most likely both bad... with us financial regime beeing abused by its established financial and corporate elites, and bitcoin humiliating itself with its energywaste, media propaganda and high transaction costs.
hope that helped you
My thought was that I will cash out eventually... whether I lost in satoshi or not doesn't matter if I have more $ in my bank account at the end of the day.
You may look at USD or BTC values depending on your preferences.
For me, I look at BTC values since I am keeping my funds in BTC. Another point is if I look at USD value, I am actually losing out on BTC value. I could have this much in BTC.
Satoshis if you're trusting BTC to replace fiat.
If you feel like you will have to cash out, then USD.
If you feel like you will have to cash out, then USD.
I always read don't look at the value of a coin in terms of USD but instead in terms of satoshi.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
well it depents wich financial regime you trust, the bitcoin one or the USD one,
both can end up bad or good, but most likely both bad... with us financial regime beeing abused by its established financial and corporate elites, and bitcoin humiliating itself with its energywaste, media propaganda and high transaction costs.
hope that helped you
My thought was that I will cash out eventually... whether I lost in satoshi or not doesn't matter if I have more $ in my bank account at the end of the day.
I always read don't look at the value of a coin in terms of USD but instead in terms of satoshi.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
well it depents wich financial regime you trust, the bitcoin one or the USD one,
both can end up bad or good, but most likely both bad... with us financial regime beeing abused by its established financial and corporate elites, and bitcoin humiliating itself with its energywaste, media propaganda and high transaction costs.
hope that helped you
I always read don't look at the value of a coin in terms of USD but instead in terms of satoshi.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
TBH I don't get it... If I lose in BTC but gained in $ what's the matter?
Are there different opinions or school of thought?
Thanks for answering this the millionth time and answering this noob question.
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