15
votes
Accepted
How do I get bitcoin price without any external source?
The bitcoin price is determined by a free market of buyers and sellers. There is no way to calculate the price on your own without an external source. I suppose the only exception to this would be if ...
- 5,388
14
votes
Why does my bitcoin "to US dollar" worth change when the stock market is closed?
To my knowledge, bitcoin is not traded on any stock markets. It is traded directly on exchanges specialized in cryptocurrencies. These exchanges don't necessarily close, and therefore trades are ...
- 8,772
12
votes
Why does my bitcoin "to US dollar" worth change when the stock market is closed?
Bitcoin is not a stock. It's a decentralized currency and its markets are open 24/7.
- 68.6k
9
votes
How do I get bitcoin price without any external source?
You may be thinking with cause and effect reversed. The Bitcoin price being $300 does not cause people to buy and sell at $300. Rather, people buying and selling at $300 causes the price to be $300.
...
- 566
3
votes
Accepted
How Do I Calculate the profit of the value of my bitcoin?
The simplest way to calculate would be:
averagecost = ((BTC[t0] x USD[t0]) + (BTC[t1] x USD[t1]) + (so on))/total_BTC
where t0,t1 and so on are different time when you bought.
The above gives you ...
- 1,083
2
votes
Why is Bitcoin gaining value while so many other cryptocurrencies are not?
There is this classic bootstrapping problem. To make a successful cryptocurrency it needs:
Miners (so that it's secure)
Users (to attract miners, users also want it to be secure)
Value (to attract ...
- 1,133
2
votes
How Do I Calculate the profit of the value of my bitcoin?
First of all, let a number of bitcoins be bought and (x1) is how much you paid for it.
Now the price of 1 bitcoin changes
Then you use the formula:
x2= (New value of 1 bitcoin)*(Number of bitcoins ...
- 21
2
votes
Accepted
Why would people buy bitcoin these days if its too expensive?
What you are probably missing is the fact that you can buy partial bitcoins, you don't have to purchase a whole bitcoin at once. You could buy a small bit of bitcoin for $20 if you wanted, it can be ...
- 11.6k
1
vote
Localbitcoins history btc_in_usd rate?
It's possible to get your price equation via their API:
https://localbitcoins.com/api-docs/#ads
As well as the price at which each of the trades are locked in at:
https://localbitcoins.com/api-docs/#...
- 2,040
1
vote
Accepted
Would it be possible for a cryptocurrency to have a price before its first block?
It's actually pretty common for new cryptocurrencies to have a "pre-mine" meaning that some part of the future coin issuance is assigned to public keys in advance. Investors pay the ...
- 4,892
1
vote
Accepted
who controls the price of BTC?
who controls the price of BTC?
No single person.
Like any market, the price is determined by the individual buyers and sellers.
Since most buyers and sellers are human, the price they are willing ...
- 22.2k
1
vote
Bitcoin, Ethereum and Litecoin value graph look very similar
The prices of basically all altcoins follows that of Bitcoin's. So generally when Bitcoin goes up, so do altcoins', when it drops, so do altcoins'. This is generally because altcoins are primarily ...
- 65.6k
1
vote
How do I get bitcoin price without any external source?
The year is now 2023, and there has been a proliferation of cryptocurrencies. You still need to ask a crypto exchange. You still can't see the dollar transactions whenever someone trades a bitcoin, on ...
- 566
1
vote
Transaction for real use / transaction for changin Bitcoin in other currencies?
No, this is not a way that you can accurately calculate this ratio, because trading is often an off-blockchain event. The sequence of events looks something like this:
You send bitcoins to the ...
- 4,397
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