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He spent 1,000 DASH / (4,000.00 [USD/BTC] / 300.00 [USD/DASH]) = 13.(3) BTC. At this point I think it counts more as diversification. edit: [BTC/USD] -> [USD/B

He spent 1,000 DASH / (4,000.00 [USD/BTC] / 300.00 [USD/DASH]) = 13.(3) BTC. At this point I think it counts more as diversification. edit: [BTC/USD] -> [USD/BTC] && [DASH/USD] -> [USD/DASH]

ricardobeat 9y ago
I don’t follow. He shows a balance of 1000 DASH (=300k USD) in his wallet. How is it related to the price of BTC?
- Retr0spectrum 9y ago
  I think the point was that he probably already had a significant cryptocurrency investment portfolio. He isn't really spending money at this point, simply diversifying his portfolio.
  - jacobush 9y ago
    Diversifying his USD portfolio would be much the same IMHO.
    - aminorex 9y ago
      People who pay taxes in USD tend to use USD as a numeraire. IIRC in New Hampshire you can pay taxes in BTC.
npongratz 9y ago
> He spent 1,000 DASH / (4,000.00 [USD/BTC] / 300.00 [USD/DASH]) = 13.(3) BTC Maybe I'm calculating this incorrectly, but using the above, I come up with a cost of 75 BTC for 1000 DASH. And given the current BTC price of DASH at coinmarketcap.com[0], I see 1000 DASH would run about 55 BTC. Either way, it's certainly possible that the purchase was for diversification, if one speculates the initial BTC "basket" was quite a bit larger. [0] https://coinmarketcap.com/currencies/dash/ https://coinmarketcap.com/currencies/dash/
- TrainedMonkey 9y ago
  I really screwed up my math, thanks for checking. Order of magnitude sanity check is ~10 dash for btc, so 1,000 Dash should be on the order of 100 btc.