Bitcoin question

F22 Simpilot

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So I was wondering if I got this right. I like math, but it's really not something I excel at, especially in the realm of cryptocurrency. So here it goes...

Back in around circa ~2013 I wanted to throw $25 into my bitcoin wallet every month as a form of savings account. I told the morons, yes moron about this at the tech forum Anandtech and was laughed at. Was even laughed at about buying gold and silver. Anyway, with the bitcoin price right now at about ~$33000, I tried to do some math at how much I would have earned if I invested that $25 a month in 2013 till now.

So we have 8 years, which is 96 months. 96 times $25 is $2400 dollars.

I can't find the info. now to save my sole, but last night my Amazon Echo (spy tap) said Bitcoin rose 6000% since 2013? So 6000% times $2400 is $144,000. So will I have made around that much if I invested $25 per month going back to 2013?

I can't find a proper calculator to figure this out. I found one but it didn't work. It should be some form of bitcoin return calculator. Seems like my searching ability is poor or the damn Google server suxx!
 

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A Guy

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So, as far as I can tell, you could get a rough estimate, but not know the precise number as you wouldn't have purchased all the Bitcoin at once in 2013 and be able to know what the price was at purchase. Instead you'd need to know what percentage of a Bitcoin $25 bought in January 2013, what percentage of a Bitcoin $25 bought in February 2013, etc. The price has risen and dropped over those 96 months, and you purchased some percentage of one Bitcoin each month.

"Bitcoin really started to take off in 2013. The digital currency began the year trading at around $13.50 per bitcoin. The price rallied in early April 2013, briefly reaching a height of over $220 before dropping back down to around $70 by mid-April. This was the first real rally and associated crash for the currency.6


Bitcoin began to rally in October and November of 2013. The currency traded at around $100 in early October and topped at around $195 by the end of the month. In November, the price went from around $200 to over $1,075 by the end of the month.6 The rally was caused by new bitcoin exchanges and miners in China entering the marketplace. This was the same period when the Mt. Gox exchange was operating. Mt. Gox was involved in around 70% of all bitcoin transactions.5


The price began to get very volatile after reaching these highs. Rumors of a lack of security through Mt. Gox, as well as poor management, made the market nervous. People had problems withdrawing their money from the exchange. The price reached a high of $1,079 on Dec. 4, 2013. This fell to around $760 by December 7, a drop of around 29% over a couple of days.7


Trading stabilized to some degree to around $920 in January 2014. However, there was another major crash in early February, around the time the Mt. Gox exchange filed for bankruptcy protection in Japan. Bitcoin was trading at around $850 on February 4, but it cratered to around $580 by February 16—a decline of around 32%.7 The price then fell into a slower and more gradual decline. The currency was trading at around $600 in the middle of July 2014. It eroded to around $315 at the beginning of 2015"


So at 1st your $25 bought you more than 1 Bitcoin, but then generally a smaller and smaller percentage of a Bitcoin. A Bitcoin today ended at 32,543.80, so your $25 monthly purchase would be a small percentage of 1 Bitcoin ($25 x 1301 = $32,525). That 1st months purchase of $25 bought you 1.85 Bitcoin, and that would be worth $60,267 alone today :)

If you can find out how much Bitcoin was each month since 2013, you could get a total number of Bitcoin you'd have, and know the value ;)


A Guy
 

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F22 Simpilot

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Thanks for the effort.

Yep, I saw that chart as well. I'm just surprised there's really no Bitcoin returns calculator that just makes sense, but you know something, I smell a business opportunity. :D
 

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