How to take profits from your cryptocurrency gains is always a hot topic it seems. I hold an in-person class in Long Beach, CA and I get a ton of questions about the best way to take profits from your crypto gains. While I really try not to give investment advice I can at least help clarify for beginners why you should probably be measuring your profits in satoshis instead of USD value. Follow along with The 'Stache as I break down when you should value profits in satoshis and when you should value against USD.
What Is A Satoshi Anyways?
The satoshi, or sometimes referred to as "sats", is the name given to the smallest divisible amount of Bitcoin and represents 0.00000001 of 1 Bitcoin (or 100,000,000th of 1 Bitcoin). The smallest unit of BTC measurement is named in homage to the mysterious creator of Bitcoin, Satoshi Nakamoto (see my article about Who Is Satoshi?). While the satoshi value is typically displayed in most transactions you might not have paid much attention to it. It is most often seen when calculating fees for bitcoin as they are measured in sats/byte.
Bitcoin Is King (& ETH, LTC Are Pretty Good Too)
I will let you in on a little secret, that Altcoin you really love... you will probably have to buy...READ THE FULL STORY ON MY WEBSITE: https://www.cryptostache.com/2018/03/02/probably-measuring-crypto-profits-satoshis/