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chevyfan
2017-09-04, 05:13 AM
Hello,

I need help creating an equation..

I currently buy Bitcoin on a site where people markup the price to make a profit..so I would pay a premium to get the Bitcoin at a certain rate.


For example, the market price/market rate for ONE Bitcoin is currently at $5,659.99, but in order for me to get 1 Bitcoin, I would have to buy it
at a rate of $6,336.91 for example....


But what I want to be able to do is to see what I would really end up getting at the rate of what the Bitcoin is being advertised at.

for example..if I purchase $800 worth of Bitcoin, if it was at the market price, I would receive $800 worth of Bitcoin, however since
I'm buying it at a higher rate, because these people selling the Bitcoin are trying to make a profit, instead of getting $800 worth, I would get something
like $780 worth (or whatever it would work out to be)


I want to create a spreadsheet where I can see how much worth of Bitcoin I would ACTUALLY get based on the rate that I'm paying..

because sometimes I want to buy or sell a certain amount, and I never know exactly how much I would get until after everything is all said and done.


If someone could create a simple spreadsheet for me that can do this, it would be greatly appreciated!


Thank you!

- Daivd

Bob Phillips
2017-09-04, 08:54 AM
Surely, it is just the amount you pay, divided by the amount they charge per bitcoin.

In your example, you pay $800, they charge $6,336.91, so you get 0.126244 bitcoins for your money. At the market rate, you have $714.55 worth of bitcoin.

Looks like simple arithmetic to me.

chevyfan
2017-09-04, 10:47 AM
Surely, it is just the amount you pay, divided by the amount they charge per bitcoin.

In your example, you pay $800, they charge $6,336.91, so you get 0.126244 bitcoins for your money. At the market rate, you have $714.55 worth of bitcoin.

Looks like simple arithmetic to me.



okay, so I took $800 and divided by $6,336.91, and I get 0.126244, so what do I do next to get the $714.55 worth of Bitcoin?

also, I kinna wanted someone to put it into a spreadsheet for me as well..

Bob Phillips
2017-09-04, 10:57 AM
Multiply the rate you got, 0.126244, by the market rate, $5,659.99.

Bob Phillips
2017-09-04, 11:01 AM
If it it just the worth of the bitcoin that you are interested in, you can do it simply as

=investment*(market rate/purchase rate)

or in your example

=800*(5,659.99./6,366.91)

Pecoflyer
2017-09-04, 11:23 AM
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