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Title: Help Me Understand Math When Buying Less Than One BTC Post by: CryptoCupcake on May 15, 2018, 06:16:10 PM Example: I buy $500 worth of Bitcoin at $8600 and the price then goes to $8800. How much have I made? Can you please show example so I can calculate going forward. Thanks you!!
Title: Re: Help Me Understand Math When Buying Less Than One BTC Post by: Wipro on May 15, 2018, 06:29:47 PM Example: I buy $500 worth of Bitcoin at $8600 and the price then goes to $8800. How much have I made? Can you please show example so I can calculate going forward. Thanks you!! I think you are confused about the decimal point value of the bitcoin when it goes to lesser than one bitcoin. I am not sure whether you calculate the bitcoin while you are buying or getting as a payment for any service. If you receive like you may get some idea about it bro. I show you better example mate. Take you are buying btc worth of 800 USD and that time bitcoin price is around 8000 USD in the market after some days it goes to 9000 USD. So totally you got the 100 USD as the profit bro. As of now bitcoin has the 8 decimal point level of value for the coin you can use at that level mate. Title: Re: Help Me Understand Math When Buying Less Than One BTC Post by: NeuroticFish on May 15, 2018, 06:36:08 PM Example: I buy $500 worth of Bitcoin at $8600 and the price then goes to $8800. How much have I made? Can you please show example so I can calculate going forward. Thanks you!! Since Bitcoin has rise from $8600 to $8800, that's a rise of (8800-8600)/8600 = 200/8600 = 0.02325581. That's 2.32% rise. So you have made 2.32% of $500, more exactly 0.02325581 * 500 = $11.63 BUT. This doesn't take into account the various fees. So if you buy/sell at exchange you have to subtract those fees from your earning. If you also have a withdraw from exchange in this you may actually get nothing (since withdraw fees are still unreasonably big). Title: Re: Help Me Understand Math When Buying Less Than One BTC Post by: CryptoCupcake on May 15, 2018, 06:45:15 PM Example: I buy $500 worth of Bitcoin at $8600 and the price then goes to $8800. How much have I made? Can you please show example so I can calculate going forward. Thanks you!! Since Bitcoin has rise from $8600 to $8800, that's a rise of (8800-8600)/8600 = 200/8600 = 0.02325581. That's 2.32% rise. So you have made 2.32% of $500, more exactly 0.02325581 * 500 = $11.63 BUT. This doesn't take into account the various fees. So if you buy/sell at exchange you have to subtract those fees from your earning. If you also have a withdraw from exchange in this you may actually get nothing (since withdraw fees are still unreasonably big). I guess I'm not the only one confused, since first reply had me at +$100. This IS confusing! So let me ask you this, since quite obviously, math is not my strong suit and you seem proficient. Could you give me the formula for an excel spreadsheet? And let's leave fee's out of the equation, since if I was trading BTC, I would do so on GDAX, where there are zero fees. Let's say Column A is labeled Volume Bought: 0.02325581 Column B is Current Price: $8800 And so on, and feel free to change the column labels appropriately. What would the formula be to show profit/loss? Thank you for sharing your skills! Title: Re: Help Me Understand Math When Buying Less Than One BTC Post by: NeuroticFish on May 15, 2018, 07:01:49 PM Let's say Column A is labeled Volume Bought: 0.02325581 Column B is Current Price: $8800 And so on, and feel free to change the column labels appropriately. What would the formula be to show profit/loss? Thank you for sharing your skills! No. Volume bought is not 0.02325581. 0.02325581 was the rise factor. Anyhow, let's make it in spreadsheet (beware, I fill at some point D3 before C3) A1: Date B1: Bitcoin price C1: Worth of my BTC D1: My amount of BTC E1: Profit A2: date of buying B2: 8600 C2: 500 D2: =C2/B2 A3: date now B3: 8800 D3: =D2 C3: =B3*D3 E3: =C3-C2 Edit: it should result something like this: https://talkimg.com/images/2023/05/14/blobff493f99db842689.png Title: Re: Help Me Understand Math When Buying Less Than One BTC Post by: CryptoCupcake on May 20, 2018, 01:57:42 AM Let's say Column A is labeled Volume Bought: 0.02325581 Column B is Current Price: $8800 And so on, and feel free to change the column labels appropriately. What would the formula be to show profit/loss? Thank you for sharing your skills! No. Volume bought is not 0.02325581. 0.02325581 was the rise factor. Anyhow, let's make it in spreadsheet (beware, I fill at some point D3 before C3) A1: Date B1: Bitcoin price C1: Worth of my BTC D1: My amount of BTC E1: Profit A2: date of buying B2: 8600 C2: 500 D2: =C2/B2 A3: date now B3: 8800 D3: =D2 C3: =B3*D3 E3: =C3-C2 Edit: it should result something like this: https://i.imgur.com/pxoXeqr.png Thanks for sharing. You made it easy! |
