Seems that my poor and rich bitcoin holding friends don't seem to even know the answer to this :/
Say I used coinbase and transfer BTC to an exchange like bittrex and exchanged BTC for some alt coin lets call it XYZ.
If say Bitcoin was at the time (months ago) $5,000 USD, and then say the value of this alt coin called XYZ was valued at $100 USD ( via the BTC estimation)
If we ignore fees...
XYZ goes up 300% from $100 to $300 , but at the same time period , BTC also went up 300% and goes from $5000 to $15,000
Exchange XYZ for BTC ,
Send BTC to coinbase ... send to bank account ( ignoring fees )
Ignoring fees, did I just break even???? serious question as it seems like I did, right?
Example say monero went up from $30 to $300 , and BTC did a 10x increase ... well then on one hand I was about to say I didn't make any money ,... but now that doesn't make any sense Ugh Help