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https://opensea.io/collection/memes-77
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Abdulquadri Adedimeji
@doubbleckrown
A quick quiz guys!!! Best answer gets a reward
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Nathaniel Favour
@favztouch
$600 That's the total profit earned
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Abdulquadri Adedimeji
@doubbleckrown
Ok, you should explain how ?
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Nathaniel Favour
@favztouch
First Transaction: Bought for $900 Sold for $1200 = Profit: $1200 - $900 = $300 Second Transaction: Bought again for $1300 Sold for $1600 = Profit: $1600 - $1300 = $300 Total Earnings: $300 (first profit) + $300 (second profit) = $600
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Abdulquadri Adedimeji
@doubbleckrown
How about the $100 that was introduced before the second transaction happened?
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Nathaniel Favour
@favztouch
You're not adding $100 as a loss, you're spending $1300 on the second cow, but you also sold it for $1600, so the extra $100 compared to the first buy doesn't matter on its own. So, the $100 difference in the second buy isn't a loss because it's still followed by a $1600 sale, which more than covers it. What matters is buy low, sell high, and you did that twice.
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Abdulquadri Adedimeji
@doubbleckrown
Nobody said it was a loss I’m saying what if the $100 was borrowed to complete the $1300? Will it not be deducted?
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