Hey, Hootie.

:thumb:

LMAO

What's up, |Pussy|? How deep can you take a great dane's dick these days?

LMAO

Correct, and if you look at the first column, it asked for contracts/shares, not dollars invested. He didn’t purchase 1000 coins at $52K, he purchased 1/52 of a coin at $52000. If you put the amount of coins and purchase price in the link eDave provided, you’ll get my answer.

Edit: I’ll admit, I could be wrong, he absolutely could have purchased 1000 coins @ $52000 and all of the others. If he did that, then not only am I wrong, but I’m asking for a loan.

Where does it say he purchased 1/52 of a coin at $52,000?

The amounts in his example were: 1000, 500, 1000, and 3500.

Edit: OK, I see what you are doing...I thought he was looking at hypotheticals and giving the amount of bitcoins purchased at a particular price....and not the amount he spent at a price point.

See my previous edit, but when he says “1000 when it was at 52K”, I’m assuming he invested $1000, which is the same as saying he bought 1/52 of a coin. Now again, maybe he purchased 1000 coins @$52K/coin for a cool $52M, but I’m doubting it.

My examples were meant like "$1000 worth of BTC @ 52k" etc...

So since the internet-induced laziness and ease of calculators have rotted my brain and I cant remember grade school math anymore, will someone show me the formula to use? I first thought it was all of the bitcoin prices added up divided by the 6000 invested but that wasn't right. Then I had a couple other formulas pop into my head before I said screw it, I'll just ask CP.

No, we read the question completely differently, and yeah I came up with an average cost in the neighborhood of what you did if we assumed that he was listing what he spent rather than the number of coins he purchased. My average cost of $41,671 vs your average cost of $41,674 (rounding error on one of the transactions).

I thought he was doing completely hypotheticals since he said that there were five transactions and listed four with simple whole numbers.

The short and sweet of it is: Average cost = Total cost/Total amount of coins.

I was assuming 6000 total coins rather than .1439 total coins.

My purchase amounts at the btc prices were hypothetical but they were close to what I have. So to be exact I divide the total cost by the amount of bitcoin I actually have. That was the next idea I had before I decided to ask here. Now that I think about it, that makes perfect sense and is how I figure out my average stock buy-in prices.

You can use eDave’s link, just convert your investment amounts to amount of coins. If it’s not clear, the amount of coins at each transaction is the amount of the investment divided by the coin price. If you want the actual formula:

(C1*P1 + C2*P2 + C3*P3 + C4*P4) / (C1 + C2 + C3 + C4)

Where:

Cx = Coins purchased at time x
Px = Price at time x

This simplifies a little to:

(I1 + I2 + I3 + I4) / (C1 + C2 + C3 + C4)

Where:

Ix = amount invested at time x

I got it now. Total amount invested/amount of bitcoin owned, just like I do to find my average cost of stock shares. What threw me off was owning a little over 1/10th of a bitcoin, I've never dealt with stock share fractions but it makes sense that it's still calculated the exact same way.

This (and to be fair to MTG, this is a bit more than grade school math)