Welcome to our cryptocurrency club for bitcoin and altcoin news
Welcome to our Cryptocurrency club subreddit. This is a group where you can ask questions and discuss Bitcoins and Altcoins. Rules : - No advertising - No spam - No referral links - No pump and dump groups useful links - www.poloniex.com / www.bittrex.com - popular exchanges for exchanging cryptocurrencies www.coinmarketcap.com - overview for all cryptocurrency coins www.cointelegraph.com - Bitcoin and altcoin news www.preev.com - Bitcoin calculator, BTC to EUR or USD
Hello! I have questions as a new trader. First, I understand blue is profit and red is loss. My question is, how does everything get calculated in? I put in $100 USD worth of bitcoin and have been confused. How does it transfer in terms of these values. Has money been lost? Gained? What percent?
Let's say hypothetically speaking 1 bitcoin reaches $8,572 USD one day. How would you easily calculate how much to tell someone to pay you if it's something like 1/1284th of a bitcoin?
Edit: will a conversion system be built in so people will be able to recognize how much something costs because the price of 1 bitcoin changes daily I'm assuming eventually 1 bitcoin will level out and become a lot more stable but until we get there how will people deal with understanding how much .0002 bitcoins is costing them? I know it's math but everyone having to carry calculator around to see if they can afford sounds inconvenient. Will there be a universal system created such as 1 satoshi = $ USD ?
Here is my attempt at calculating how popular bitcoin can become at the rate of 1 btc = usd $240
Number of coins So the total number of bitcoins mined till now are at 14 million. Lets say 2 million of them are totally unreachable ( example, 1 million of satoshi). That leaves us with 12m. Lets assume half of those are kept by people who have no interest in selling them for next 10 years. So we are left with 6 million coins that are in regular circulation. Bandwidth Requirement
Remittance or international transactions. This is quite a big market. The best example is philippines, where bitcoin is already being used for rebittance. Another interesting term is hawala, which is a system of transferring money internationally without government knowledge. Lets say people need to transfer $200 billion annually across international borders using bitcoins.
Day to day transactions like paying for coffee at starbucks. Lets say 20 million people want to drink a coffee everyday using bitcoins, and one coffee costs $1.5. That means a turnover of 20m * 365 days/year * $1.5 = $11 billion annual. Thats just for coffee. Add another other small transactions, and we come to a figure of $100 billion/year.
Online transactions, such as buying goods online. Amazon's annual turnover is $88 billion. Lets say we are looking at a figure of $200 billion/year for bitcoin.
This makes a total of $500 billion/year. fulfilment Lets say that every merchant that accepts bitcoins just wants to keep them for one day only. Cause they are only going to use it as currency, they are not going to maintain their books in bitcoin. So amazon may accept your btc for the laptop you bought off of them, but they will convert it into dollars etc within 24 hours, to reduce their risk of currency fluctuations. How much volume can be fulfilled by 6 million coins trading at $240? Daily, thats
6 million bitcoins * $240/btc = $1440 million = $1.440 Billion
That is exactly the requirement. (it just so happens that the numbers are coming at such a close match. I swear I did not cook any number!) Conclusion Bitcoin can remain at $240 per btc till it becomes a very mainstream currency, when it is used by 20 million people everyday for at least 5 transactions like coffee, for every developing world remittance requirement, and for $200 billion worth of online goods traded in the first world. This was initially posted to /bitcoin.
he CoinDesk Bitcoin Calculator converts bitcoin into any world currency using the Bitcoin Price Index, including USD, GBP, EUR, CNY, JPY, and more. This Free Bitcoin units calculator helps you convert any amount from one unit to another. Conversion between BTC, Bits, mBTC, Satoshis and US dollars. The Bitcoin Price Converter tool gives you the latest rates to convert any amount of BTC or BCH to your preferred world currency. Our conversion rates use exchange rates from the Bitcoin.com Composite Index. Convert BTC to USD, BCH to USD. Supports JPY, EURO, GBP, AUD, CAD and more. WHAT IS CRYPTOCURRENCY CALCULATOR? Cryptoboom BTC Calculator allows you to find out latest BTC price with the easy-to-use tool. Convert any amount of Bitcoin, Ethereum, and other cryptocurrencies to any world currency including USD, GBP, EUR, CNY, JPY, and more. Crypto exchange rate calculator helps you convert prices online between two currencies in real-time.
THE Highest Paying BITCOIN Faucet - Earn FREE Bitcoin NOW ...
💰 My #1 Recommendation To Make Money Online - Click Here Now ️ http://LifeWithoutLimits.co 💰 Claim Your FREE Bitcoin / Crypto Here: ️ http://bit.ly/EarnFre... currency converter app btc to usd exact btc to usd 0.01 btc to usd.0024 btc to usd simple bitcoin calculator coinbase Popular Cryptocurrency Conversions BTC to USD BTC to AUD BTC to BRL BTC to CNY ... Hey guys, today the video is about how the Bitcoin price is calculated. It took me a while to understand this when I first got into Bitcoin - I was confused ... Tutorial - Building Bitcoin Websites - Create a BTC/USD Converter 1 of 2 - Duration: 10:33. m1xolyd1an 6,290 views. 10:33. How To Calculate Mining Profit: The Easy COMPLETE Guide! Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.