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/biz/ - Business & Finance

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6731554 No.6731554 [Reply] [Original] [archived.moe]

plz explain

>> No.6731597

Because you will feel like an idiot when you make great USD gains on your shitcoin only to switch your Blockfolio balance to BTC and realise you have lost 50%.

>> No.6731740

yeah.. you need to convert it back to BTC to cash out, you're right
but then again you don't, my online wallet takes some other big coins like ltc, eth... if you're using Binance for example, how should you know what coin to convert it to once you've made some profit?

>> No.6731775
File: 67 KB, 900x529, Homestead Plan.jpg [View same] [iqdb] [saucenao] [google] [report]

When trading alts it's about increasing your BTC stack size. Pretty fucking simple you autistic fuck

>> No.6731842
File: 122 KB, 399x372, 1508467899212.png [View same] [iqdb] [saucenao] [google] [report]

if you're trading shitcoins and end up with less bitcoins but more fiat, it means u wouldve been more profitable you did absolutely nothing and just hold BTC instead of trading

>> No.6731980

This only applies under the assumption that BTC will keep rising; i.e it doesn't.

There is no point in measuring in bitcoin, it doesn't fucking matter whether btc itself rose more than your alts; you put in fiat, you get fiat back. If you spend a week daytrading proficiently and "only" end up making slightly less than a btc moon you did not lose money. If you spend a week daytrading and end up with as much fiat as before but more btc it means btc went down and your daytrading kept you above water.

There is no reason to measure in bitcoin.

>> No.6732162

Retarded nigger you didn't get it.
If you're trading you need to look at your performance VS BTC to judge when to buy/sell.

For example...
>Shitcoin is worth .15 BTC and BTC is worth 10k USD
>BTC goes to 20k USD and shitcoin goes to .1 BTC meaning it rose in $ value but fell in BTC value.
>retard who trades based on USD sells the coin for BTC thinking he made a profit.
>BTC falls back to 10k and shitcoin rises back to .15
>USD trader goes to buy back his shitcoin and sees that he has less of it than he originally did
>Retard that he is, he does not understand this and thinks he got scammed.

>> No.6732181

You're not supposed to anymore - measure in ETH now.

People who still measure in Sats are kidding themselves.

>> No.6732240
File: 114 KB, 682x1209, anon-meets-girl-online_o_2756069.jpg [View same] [iqdb] [saucenao] [google] [report]

ofc like i said you need one of these major non shit-coins to cash out.. btc, ltc, eth, btg, dash, bch.. and they all pretty much follow what btc does
i wonder where Binance Coin comes into this

>> No.6732419

>"retard who trades based on USD sells the coin for BTC thinking he made a profit."
>buy coin for x dollars
>sell coin for more than x dollars
>not a profit :DDD

>"Retard that he is, he does not understand this and thinks he got scammed."
See, this is the way a bitcoin measuring neckbeard thinks because you ignore the fact that your money literally halved when bitcoin dropped to 10k in your example, whereas a USD measuring normie would see the reason he lost money since he was looking at his USD value drop as btc fell. Your example displays why btc measuring is retarded, not the other way around.

Sad thing is you're too stupid to wrap your head around the fact that your example started with a USD measuring mindset, switched to a BTC measuring mindset and then went back to a USD measuring mindset.

>> No.6732456

okay so when BTC goes up, shitcoins go down, and vice versa
so if you want to make fiat money, you have to wait until the shitcoin goes up in relation to BTC, then sell for BTC, then wait until BTC goes back up, then cash out for fiat
seems complicated

>> No.6732476
File: 100 KB, 733x464, 1513116210943.png [View same] [iqdb] [saucenao] [google] [report]

Okay guys carry on you clearly know best

>> No.6732511


This. Sats are for sure just a really shitty forced meme.

>> No.6732512
File: 2.05 MB, 320x240, 1f61c14f898eae74b7461276e1ffd192.gif [View same] [iqdb] [saucenao] [google] [report]

>seems complicated

Am I getting baited?

>> No.6732530

This is your average sat measurer, everyone.

>> No.6732568

come on man this requires like 5 minutes of thinking even if you are semi-retarded like I am.

>> No.6732569

no. i'm more of a "voibal IQ" kind of guy

>> No.6732606

Basically, you can measure using the two options.

You can measure in USD if you want to cash out, for example, and need to see if you are in the green.

You can measure in BTC if your objective is to beat the market. BTC is still a good measure for that, but this will stop working over time.

>> No.6732615

Why do you think binance lists prices primarily in BTC/ETH?

You know what? I've changed my mind. More USD measuring brainlets means trading will be easier for me, please continue to give me your money.

>> No.6732642

This is also true. I trade in BTC but measure my total growth in USD and BTC.

>> No.6732766

Since I've started to see BTC as another alt everything made more sense.

>you have less btc than if you just held
Yeah but if you held btc you have less btc than if you held the best alt.

>btc goes up
>alts go down
>it's not because they're tied to their $ value

Give me a single trading advantage counting your shit in btc gives you.

>> No.6732800

>Why do you think binance lists prices primarily in BTC/ETH?
>"Why do you think the exchange lists prices in the currency you're trading with?"
How did you get so confused, anon? Usually you're so bright, just where lies the root of your misunderstanding?

>> No.6732990

I STILL don't understand this shit

you trade to bitcoin and then trade to usd it doesn't fucking matter

your coins are worth whatever they are worth in US dollars

fucking idiot

>> No.6733017


because i want to accumulate more btc regardless of $ price.

>> No.6733031

>>BTC falls back to 10k and shitcoin rises back to .15
he's only going to be in BTC for like 4 hours tops

why does this matter
btc price wouldn't change during this time

>> No.6733123

BTC always goes back up, if you didn't increase your stack you lost money.

>> No.6733192

>the currency you're trading with

>> No.6733252

because if you're trading you just lost potential position in your shitcoin.

if you're just holding and don't make any trades before cashing out it doesn't matter other than to try and predict a coin that will do better than BTC

>> No.6733286

You just replied to the post giving you a very clear example of what you asked for

>> No.6733343


>> No.6733380

>BTC always goes back up
See, your root of misunderstanding is easy to spot. What you're ignoring is that you lose money while holding btc as it goes down, and only regain that money once it's back up. Measuring in sats makes you think you didn't lose money even if btc drops 50%. Sounds like hyperbole right? Well here's an example of a sat measurer doing exactly that: >>6732162

Try to disprove what I'm saying, getting stuck in the process of doing so might be a good learning experience for you.

>> No.6733419

Im surprised no one has mentioned it, but a good reason is that btc is the benchmark of the crypto market. Noobs who first get in buy some btc and sit on it. If you begin trading alts, and your stack of btc grows, then youre doing better than a noob who just held btc. If you lost, then youre making bad trades and youre better off not trading, and just holding btc.

tldr btc is the benchmark of crypto

>> No.6733448

>if you're just holding and don't make any trades before cashing out it doesn't matter other than to try and predict a coin that will do better than BTC
Take one more step back and realize that you're really looking for is an investment that will do better than USD

I know this will make you look for an argument along the lines of "but the crypto market is isolated from the rest of the USD market," but that's not the fucking case.

>> No.6733491

I am that feel

>> No.6733511

If your fiat worth is increased but btc value is same, Better off holding btc, save you from stress and research

>> No.6733556

Don't listen to the newfags telling you there's a "correct" way to measure your wealth.
Set yourself a goal- do you want to have 5BTC? or do you want to have $100,000?
Work towards your goal and measure your wealth and progress in the medium most relevant to you.
If someone tells you that you've lost because somebody else has made more money than you, then they're shining a newfag beacon on themselves and you should ignore them. Or better yet, tell them to shut the fuck up and lurk more.
You cannot predict the price of Bitcoin, so someone giving you shit for using the volatile currency as a staple for comparison does not value the process of accumulating wealth.

>> No.6733578

>What you're ignoring is that you lose money while holding btc as it goes down, and only regain that money once it's back up.
But it WILL go back up, so you didn't really.
You don't lose money unless you sell.

>> No.6733594

Why not measure both? It's not hard.

>> No.6733632
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>You don't lose money unless you sell.
Wow, holding all this enron stock that I haven't sold yet. Looks like I haven't lost anything according to you.

>> No.6733643

Literally correct

>> No.6733687
File: 15 KB, 216x370, gains_losses.png [View same] [iqdb] [saucenao] [google] [report]

By the way, you should legitimately measure both gains in sats and gains in fiat to gain a complete perspective. Pic related.

>> No.6733707

You're not. It's a shitty meme. You should measure in USD because it's all that matters at the end of the day.
You can measure in BTC just to know if hodling bitcoin would have given you a better performance than your alts/day trading, but that's all.

>> No.6733717
File: 110 KB, 657x539, 1514804931682.png [View same] [iqdb] [saucenao] [google] [report]

pic related is you

>> No.6733733

If btc measuring means you'll look at a cycle like
and go "I handled that nicely, I made 10% profit," then can you really support it?

>> No.6733737

In my example you would have the same amount of USD that you started with but less BTC.
If you just hold it doesn't really matter.
If you trade you need to trade in BTC to reliably increase your position in your shitcoins.
Also, valuing your portfolio in USD is one thing, trading in USD is another.

>> No.6733754

its a meme that idiots fell for and now it stuck

>> No.6733791

1 BTC is always = 1 BTC

Meanwhile a dollar or euro or chinese money could be 100 sats one day and 200 sats the next.

>> No.6733797

>In my example you would have the same amount of USD that you started with but less BTC.
>If you just hold it doesn't really matter.
You're right, but only as long as BTC scales with the market. That's the problem here.

>> No.6733816

>dat pic

>> No.6733825

1 USD is always = 1 USD

Meanwhile a sat or gwei or some chinese ethereum could be 10000 usd one day and 20000 usd the next.

>> No.6733840

Since most price is calculated (on portfolio) from BTC to USD, you don’t have to worry about it. It’s just that whenever btc goes up or down, depending where you’re holding alts, and how those alts perform when btc is moving. All alts usually die as btc goes up so you lose value. Some alts moon when btc dips, so you actually gain value.

>> No.6733907


>> No.6734086

>gonna make it

>> No.6734262

You just use it to judge good trades so you can increase alt stacks or BTC stack. If you sell alts high and buy low relative to BTC you will always increase your positions in the alts and increase your total value in BTC. I

f you trade based on dollar value alone you can't guarantee that you'll increase your alt positions buying low and selling high because they're not paired with USD.

>> No.6734279
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>> No.6734284

Shitcoins and ETH value rises/falls in opposite direction of BTC (with exception of some Alts tied to BTC and coretards like Monero)....

t. Economist doing this for only a few months.

I measure in USD also.

>> No.6734450

>his coin went up in $ value
>it's not a profit
wtf am I reading

>hold btc
>it goes up in value
>some alt or stocks or any investment went up more than btc
>you didn't make any profit since another shit gained more somewhere in the world

>> No.6734490

>buys into altcoin at $100
>cashes out of altcoin at $200
Oh man I lost money

>> No.6734502

Uh because you're going to have to go through BTC to get USD.

>> No.6734509

The problem is you don't buy your shitcoins in USD. You buy and sell in BTC/ETH. To maximize your profits you have to look at BTC ratio.

How do you increase your stack in an altcoin? By looking at the BTC price.

>> No.6734554

>buys into altcoin at 0.1 BTC
>cashes out altcoin at 0.04 BTC
dude, im a genius!

>> No.6734562

Because BTC is king.

You trade alts to accumulate your BTC stack.

If BTC tanks its all worth shit anyway.

You should always be accumulating BTC during alt run ups.

>> No.6734577


>> No.6734621

how did you buy bitcoins nigger
how will you cash out
why do you want to increase your btc stacks
how do you know if your bitcoins are worth more or less

it's all $

>> No.6734690

>buy 1 bitcoin
>3 years later you want to cash out
>you use litecoin because it's faster and cheaper to transfer
>you have less litecoins than if you just hold LTC all this time

>> No.6734742

>could have made it big with ltc
>who cares
this is the approach people should be taking

>> No.6734809

you don't, only idiots value their investment with volatile assets with no use in real world instead of a fixed value one.

>B-but you buy shitcoins using BTC
That doesn't mean shit

>> No.6734826

Don't you understand the difference between altcoin and bitcoin? If you want to trade efficiently with maximum profits you look at BTC price. If you want to cash out you look at BTC $ price. Measuring an altcoin in $ is worthless.

>Why do you want to increase your btc stacks
To trade, you retard. You want an altcoin? You trade bitcoin into that shit. Not $.

>> No.6734982

> never buys altcoin
> you made 300
Yes, your scenario would be valid only if It outperforms bitcoins, otherwise you could’ve just never bought the shitcoin in the first place and end up with more fiat money. It’s not hard to understand

>> No.6735052

It doesn't matter. /biz/ is about making money, not about trying to get rich yesterday. Only adhd newfags are obsessed with maximising gains on an unpredictable asset.

>> No.6735210
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>Only adhd newfags are obsessed with maximising gains on an unpredictable asset.
>Buys shitcoin
wew lad

>> No.6735244

>thinking shitcoins have less predictable wealth than bitcoin

>> No.6735378

Buys $100 worth of altcoin
Ends up $200 worth of altcoin
Trades for $200 worth of btc and cashes out $200.
$200 worth of btc is always $200 worth of btc no matter the value of btc.

>> No.6735512

USD from alts is based on Bitcoin or Etherium's USD value. So while you should measure your portfolio against the USD you have to measure alts against BTC or ETH to increase your USD.

>> No.6735636


>> No.6735742
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>> No.6735800
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>> No.6735976

>buy shitcoin for 4000 sat
>bitcoin crashed to 1¢
>shitcoin now worth 50 btc

>> No.6736236

going up in fiat and down in sats would require btc to be going up faster than shit coins, which isn't the case in the slightest.

>> No.6736795


That's a lie. When BTC is on one of it's bullruns people leave alts, lowering their value.

>> No.6737480
File: 3 KB, 211x239, volcano.png [View same] [iqdb] [saucenao] [google] [report]

OP here
legitimately more confused than before I started the thread, its like a 50/50 split
when people post moon mission memes, is the line graph in btc or usd?

>> No.6737926
File: 49 KB, 727x689, Image_134_Ritqg.jpg [View same] [iqdb] [saucenao] [google] [report]

Quick guys, what is a better(cheaper) site to buy ETH or BTC in comparison to Jewbase? Eastern Europoor here.

>> No.6737973

What does it mean if I'm up vs BTC but down vs ETH?

>> No.6737983


>> No.6738006

Do I have to use ping pong balls? Could I just use cucumber slices I think it would save money.

>> No.6738050

just get some facial mud and a masseuse too

>> No.6738060

>New registrations suspended

>> No.6738488

BTC or ETH, alts aren't traded for USD

>> No.6738602

The USD value of every altcoin is calculated based on the usd value of Bitcoin, they're not independent

>> No.6739359

Guess you weren't around during most of 2017. I fucking love spotting normie newfags

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