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Title: HELP PLEASE - with maths? How do i keep average of what i am paying for BTC?? Post by: Dragonizer on April 19, 2019, 08:39:24 AM Hi All
This is confusing me as i can't seem to grasp how i can keep and average of what i am paying for BTC?? I want to keep track of the amount of BTC i purchase (easy) and also the average price i paid per BTC.. My thinking for example was as below but it's not correct..lol Purchase BTC 0.5 BTC for £3453 0.7 BTC for £3561 0.1 BTC for £7000 Therefore 1.3 BTC for £14,014 £14014/1.3= 1 BTC for £10,780 or £10,780/BTC Is this correct? If i sold ANYTHING upto 1.3BTC above £10,780/BTC i would be in profit?? Am i doing this correct? Or should i be using the exchange rate when purchasing?? I basically want to purchase small amounts and then do on large sell for profit... Confused.. Cheers Title: Re: HELP PLEASE - with maths? How do i keep average of what i am paying for BTC?? Post by: BurtW on April 20, 2019, 01:09:53 AM Hi All This is confusing me as i can't seem to grasp how i can keep and average of what i am paying for BTC?? I want to keep track of the amount of BTC i purchase (easy) and also the average price i paid per BTC.. My thinking for example was as below but it's not correct..lol Purchase BTC 0.5 BTC for £3453 0.7 BTC for £3561 0.1 BTC for £7000 Therefore 1.3 BTC for £14,014 £14014/1.3= 1 BTC for £10,780 or £10,780/BTC Is this correct? If i sold ANYTHING upto 1.3BTC above £10,780/BTC i would be in profit?? Am i doing this correct? Or should i be using the exchange rate when purchasing?? I basically want to purchase small amounts and then do on large sell for profit... Confused.. Cheers 0.5 BTC + 0.7 BTC + 0.1 BTC = 1.3 BTC £3453 + £3561 + £7000 = £14014 £14014/1.3 = £10780 so the math is correct. Did you really pay £7000 for 0.1 BTC? If so you got ripped off royally - that is £70000 PER BTC. I expect you actually bought 1.0 BTC for £7000, right? Then you have: 0.5 BTC + 0.7 BTC + 1.0 BTC = 2.2 BTC £3453 + £3561 + £7000 = £14014 £14014/2.2 = £6370 per BTC You will profit if you sell above £6370 per BTC EDIT: fixed typo Title: Re: HELP PLEASE - with maths? How do i keep average of what i am paying for BTC?? Post by: Dragonizer on April 20, 2019, 06:56:40 AM Cheers..
'0.5 BTC + 0.7 BTC + 0.1 BTC = 1.3 BTC £3453 + £3561 + £7000 = £14014 £14014/1.3 = £14014 so the math is correct.' BUT £14014/1.3 = £10780/BTC average.... The figures were just random as i was typing mate... :) |