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RE: WaBI Is Channeling Towards 30,541 Satoshi!! What is channeling? Check out these charts!!
How many units over is a single satoshi? I'm constantly just converting prices into USD
How many units over is a single satoshi? I'm constantly just converting prices into USD
People are converting fiat to cryptos & you are doing opposite , MAY I know why ?
Because a local currency fits in with our complete frame of reference. People are using fiat to invest in cryptos yes, but I am certain at the end of the day people want to know their portfolio value in their local currency.
If you want BTC, then multiply satoshi that haejin mentions, by 0.00000001 and this should give you BTC. So the 30,541 he mentions as the target should be 30,541 x 0.00000001 = 0.00030541BTC. If you want the value in your local currency, for instance USD, then multiply this result by the current USD value of BTC. Currently 1BTC is s$17022. So the 30541 satoshi should be 17022 x 0.00030541 = $5.198 and change.
http://www.btcsatoshi.com
because I don't know what Satoshi is. My frame of reference is still USD and ETH since that is what I use to buy my altcoins.
8 decimals. It's 0.00000001 BTC
Most altcoin prices, maybe except for the Top 5, are usually measured relative to BTC. You will then see a price of 1100s for TRX-BTC as an example. While it's easier to see $0.20 at first, the relation to BTC will make sense after a while.
While investing, you should always have a reference. Investing in regular stocks is done vs $, € or other currencies - but a comparison to the most common index, S&P500, NASDAQ, DAX would make more sense. If your stock goes from $100 to $110 you will make a profit but if the index goes from 1000 to 1200 in the meantime, you are below the market.
Unless BTC becomes super stable, you should measure your profits against BTC (or ETH for some pairs/exchanges). A few weeks back I made 25% with NEO from $20 to $25 but BTC went up 30%+ in the same timespan. The NEO-BTC went down so I should have stayed in BTC.
This works best during BTC stable or growth phases. During crashes like the one around Christmas, both BTC and altcoins will lose fiat value so you should convert everything to fiat/USDT to buy back in cheaper or just hold through the crash.