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Bitcoin => Bitcoin Discussion => Topic started by: Snake X on June 03, 2011, 01:54:08 AM



Title: Bitcoin to USD formula?
Post by: Snake X on June 03, 2011, 01:54:08 AM
I alwasy wandered what a formula is to hand convert any amount of BTC to USD is based on the variable exchange rate.. what Is it anyhow?


Title: Re: Bitcoin to USD formula?
Post by: fabianhjr on June 03, 2011, 01:56:37 AM
Demand and Supply.
Search it up.


Title: Re: Bitcoin to USD formula?
Post by: Snake X on June 03, 2011, 02:01:27 AM
no I mean as in if I have 0.08 BTC in my wallet (Which I do) and 1 BTC is worth $10.50, how much is 0.08 BTC? How did you get the answer?


Title: Re: Bitcoin to USD formula?
Post by: ribuck on June 03, 2011, 02:06:27 AM
Use a calculator to multiply the price times the amount. So your 0.08 BTC at $10.50 is equivalent to $0.84.


Title: Re: Bitcoin to USD formula?
Post by: FatherMcGruder on June 03, 2011, 02:10:37 AM
Not that we need it, but I checked to see if Wolfram-Alpha understood bitcoins yet. It does not.


Title: Re: Bitcoin to USD formula?
Post by: againey on June 03, 2011, 02:10:57 AM
no I mean as in if I have 0.08 BTC in my wallet (Which I do) and 1 BTC is worth $10.50, how much is 0.08 BTC? How did you get the answer?

Physics class taught me how to do nearly all unit conversions.  First, start with the ratio of one unit to another and represent it as a fraction, with the desired unit on top:

Code:
10.50 USD
---------
 1.00 BTC

Then multiply that fraction by the value you currently know over a unitless 1:

Code:
10.50 USD   0.08 BTC
--------- * --------
 1.00 BTC      1

The units that you start with will cancel out, since one is on top and the other on bottom.  You'll be left with just the unit type you want.

Code:
10.50 USD   0.08
--------- * ----
  1.00       1

Now actually do the math, and you have your value:

Code:
10.50 USD   0.08
--------- * ---- = 10.50 USD * 0.08 = 0.84 USD
  1.00       1


Title: Re: Bitcoin to USD formula?
Post by: Snake X on June 03, 2011, 02:18:25 AM
 just do what rubic said


Title: Re: Bitcoin to USD formula?
Post by: Astrohacker on June 03, 2011, 06:25:41 AM
X USD = e^{t} * 1 BTC

Where t=0 is the moment one BTC was worth one USD.


Title: Re: Bitcoin to USD formula?
Post by: Zimr on September 09, 2017, 05:16:54 PM
Being new to Bittrex, I made some purchases without writing down the amount in US dollars, assuming it would be saved in the order history. But, everything is in BTC conversions and not in US dollars.

Is there a way to determine how much US dollars you purchased a particular coin at? For instance, if I bought OMG 3 weeks ago, how much did I pay for it in US dollars based on today's current BTC value? If this is impossible, wouldn't it be nice to have the amount of US dollars saved in some format so you can see how much your coin is currently worth in US dollars?


Title: Re: Bitcoin to USD formula?
Post by: bouren on September 09, 2017, 05:35:10 PM
I alwasy wandered what a formula is to hand convert any amount of BTC to USD is based on the variable exchange rate.. what Is it anyhow?

Actually there is no formula. The whole concept is of demand and supply. Suppose buyers agree to give X price and sellers agree to sell at Y price in particular market. So bitcoin price is actually a consensus price between  X and Y where both buyer and seller agree to trade.
So this consensus price differs in different market hence we have variable prices across globe.


Title: Re: Bitcoin to USD formula?
Post by: rb26 on September 09, 2017, 06:30:07 PM
I alwasy wandered what a formula is to hand convert any amount of BTC to USD is based on the variable exchange rate.. what Is it anyhow?

Actually there is no formula. The whole concept is of demand and supply. Suppose buyers agree to give X price and sellers agree to sell at Y price in particular market. So bitcoin price is actually a consensus price between  X and Y where both buyer and seller agree to trade.
So this consensus price differs in different market hence we have variable prices across globe.

I disagree to this statement. There will always be a formula to conversions. The digits will not just pop up and there we go, the price is this: $x. If you are telling that the price is to decided by the agreement of both seller and buyer then you are just saying that someone is controlling the price, thus Bitcoin is centralized. It seems that your logic has many flaws.


Title: Re: Bitcoin to USD formula?
Post by: Lmaooo on September 09, 2017, 06:37:35 PM
Demand and Supply.
Search it up.

Go to Preev.com you may find what you are looking for. 8)


Title: Re: Bitcoin to USD formula?
Post by: bouren on September 10, 2017, 04:11:43 PM
I alwasy wandered what a formula is to hand convert any amount of BTC to USD is based on the variable exchange rate.. what Is it anyhow?

Actually there is no formula. The whole concept is of demand and supply. Suppose buyers agree to give X price and sellers agree to sell at Y price in particular market. So bitcoin price is actually a consensus price between  X and Y where both buyer and seller agree to trade.
So this consensus price differs in different market hence we have variable prices across globe.

I disagree to this statement. There will always be a formula to conversions. The digits will not just pop up and there we go, the price is this: $x. If you are telling that the price is to decided by the agreement of both seller and buyer then you are just saying that someone is controlling the price, thus Bitcoin is centralized. It seems that your logic has many flaws.

How could you say if buyers and sellers decide their prices then its centralized? Centralization means a single body deciding price and all buyers and sellers follow that. But when both have liberty setting their own prices, it fulfills decentralized criteria on its own.
And believe me there is no formula of conversions. The prices are just mean of different buy and sell orders where both buyers and sellers agree to trade.