Already thinking in BTC

Alex Beckenham (OP)

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Already thinking in BTC

May 10, 2011, 03:17:36 AM
Last edit: May 10, 2011, 03:54:11 AM by doood

accidentally edited away my own post...

I had written that I'm already thinking of profit/loss in terms of BTC, rather than converting back to fiat amounts.

So for example, if I pay 100 BTC to have a website built when the rate is $4 / BTC, then some would see that as a $400 website.

Then if that website makes me 120 BTC when the rate has dropped to $2 / BTC, then some would see that as a 40% loss ($400 down to $240).

However I see it as a 20% profit because I'm largely ignoring the btc/fiat rates these days.

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PwrLeveld

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Re: Already thinking in BTC

May 10, 2011, 03:24:50 AM

I have been using bitcoins, and I while do realize when the conversion rate changes to lower even if I have more bitcoins I actually have less money but I also realize that I will rarely be trading in between currency so to me it is a profit.

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Vandroiy

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Re: Already thinking in BTC

May 10, 2011, 10:07:55 AM

Hopefully, this kind of thinking will become reasonable standard in the future. I can't think like that yet because BTC price is still jumping like mad. If the market gets bigger and the price settles, I too hope to use BTC as the most solid currency.

Currently, you can use CFR assuming slight inflation or something. USD is shit, they inflate worse than the euro even after the euro zone fuck-up. Here, check out 10-year USD vs CFR. Watch and weep, USD lost half its value even though the CFR has inflation.

http://www.xe.com/currencycharts/?from=USD&to=CHF&view=10Y

Alex Beckenham (OP)

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Re: Already thinking in BTC

May 10, 2011, 10:13:55 AM

Quote from: Vandroiy on May 10, 2011, 10:07:55 AM

I can't think like that yet because BTC price is still jumping like mad.

It's only jumping like mad if you need to trade in/out of it.

There is no jumping if you're just dealing with a 100 BTC payment and a 120 BTC return.

As I joked about in another thread BTC is 100% stable, it's all the other currencies that are jumping like mad Cheesy