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 Author Topic: Bitcoin to USD formula?  (Read 6181 times)
Snake X
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 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?
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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fabianhjr
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Do The Evolution

 June 03, 2011, 01:56:37 AM

Demand and Supply.
Search it up.

Snake X
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 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?
ribuck
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 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.
FatherMcGruder
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 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.

Use my Trade Hill referral code: TH-R11519

Check out bitcoinity.org and Ripple.

Shameless display of my bitcoin address:
1Hio4bqPUZnhr2SWi4WgsnVU1ph3EkusvH
againey
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 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
Snake X
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 June 03, 2011, 02:18:25 AM

just do what rubic said
Astrohacker
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 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.
Zimr
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 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?
bouren
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 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.

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rb26
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OPEN GAMING PLATFORM

 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.

Lmaooo
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The Exchange for EOS Community

 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.

bouren
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 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.

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AmitabhGiri
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 January 05, 2018, 10:28:13 AM

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I will explain how to calculate the value of some amount of bitcoins in terms of USD, but obviously the USD can be replaced by any other currency, and the corresponding exchange rate.

There are three figures involved in this calculation:

The value in USD.
The exchange rate, which gives you the relation of USD to BTC.
The amount of bitcoins.
If you look at the units of the figures, you can figure out the following formula:

value in USD = exchange rate * amount of bitcoins

Or expressed in the units of the terms:

[USD] = [USD/BTC] * BTC

As you can see, if you multiply the exchange rate [USD/BTC] with the amount of bitcoins BTC, the units of the right side will be reduced to [USD], which is what we are looking for.

Example:
We have 0.005 BTC and the exchange rate is 200 USD/BTC.

exchange rate * amount of bitcoins = 200 USD/BTC * 0.005 BTC = 200 USD * 0.005 = 1 USD

You can also turn the equation around to calculate any of the other terms:

To calculate the exchange rate, you take the amount of USD you paid, and divide by the amount of bitcoins you received.

exchange rate = 'value in USD' / 'number of bitcoins'

To calculate the number of bitcoins you might buy with a given amount of USD at a specific exchange rate, you divide the amount of USD by the exchange rate:

number of bitcoins = 'value in USD' / 'exchange rate'

Deepiefface10
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 January 05, 2018, 05:41:01 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?

every exchange site calculate Demand and supply and then detect price. this is why some exchange site give you high price.
others give you average price.

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heisenberg0000
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 January 10, 2018, 07:38:16 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?
I think there is no definite formula on this one. Since all exchanges has its different rate. What you can check is which exchange usually dictates the market value and others will follow. For me, I use BITSTAMP(this is not a plug).

DCC│Distributed Credit Chain
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Inggridpratiwi
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 January 28, 2018, 07:24:52 AM

Go to Preev.com you will probably find what you have been looking for.
silverstar43
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always a satoshi short

 January 28, 2018, 08:04:11 AM

This might help.
https://99bitcoins.com/satoshi-usd-converter
cosmoo
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 January 28, 2018, 08:12:14 AM

I woner where are this guys who wrote on this topic in 2011
First version: Living on their private island.
Second version: Crying that not invested in Bitcoin in those days.
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