To all people new in crypto/trading.
You should not trade before you can answer this correctly:
A man buys a goat for 60.
Then he sells it for 70.
Later, he buys that goat back for 80.
Then, he sells it again for 90.
How much profit did he make?
Reply in comments also!
https://twitter.com/LSDinmycoffee/status/1396253987725262851?s=03Give us a timeline? Have to bring inflation to the calculation...
All the info needed to answer this correctly is already there.
I suck at math as you all know, I even had trouble with that math problem your kid also had trouble with, took me about 15 minutes before I realized that the trick is to forget about the cents and just move the decimal comma two places and then just add the cents.
Anyhow I use compartments and envelopes and stuff to do this kind of math, and sometimes in real life as well, so here is my answer.
I have 60 and apparently I live somewhere in the middle east or north Africa, because I choose to buy a goat instead of an I-phone. I have my life savings in an envelope marked "I", I take the money from I and buy an I-goat.
I now have no money but a really cool MENA I-goat.
My friend comes along and admires my new I-goat and convinces me to sell it to him, he pays me 70
I now have no goat but 70 money.
That is a profit of 10 money.
After a while my friend discovers that it is a he goat and wants to sell it back.
I had grown fond of the goat and decided to accept his offer of 80 money, but I only have 70 so I have to borrow 10 from the envelope marked "mom".
I now have a goat and minus 10 money
A little later my friend comes back, he has now discovered his true self, joined a closed facebook group named "he goat lovers", and wants to buy the he goat back. I accept and sell it to him for 90 money.
I give 10 money back to "mom" and now I have 80 money.
My initial investment was 60 money so I'm now plus 20 money.
My answer is 20 money.
Poll
