Hi, folks. I love using KMyMoney. I recently opened a Bitcoin account at coinbase.com. Naturally, I want to be able to keep track of my dollars going from my bank account into my Bitcoin account.

I was able to add the Bitcoin currency to KMyMoney with no problems. But setting up an account In KMyMoney using the bitcoin currency has me puzzled.

Coinbase.com uses "bits" to calculate the value of how much you have in your account. I Bitcoin = about $253.00 (currently thereabouts). So, if I have one dollar in my bitcoiin wallet, it's expressed as 4,004 bits.

So, How can I set up KMyMoney to add a Bitcoin account so when I make a transfer from my U.S. Dollar account of $10.00, it gets converted and recorded correctly in my Bitcoin account as 38,061 bits?

Thanks.

Did you set the Bitcoin account to use Bitcoins as currency when you created it?

Hei Ku wrote:Did you set the Bitcoin account to use Bitcoins as currency when you created it?

Yes, I did.

But, how does KMyMOney handle this? When I deposit $1.00 in the ledger it brings up a conversion calculator of some sort that looks at the current price of Bitcoin. This morning, 1.00 $ = 0.0037 BTC. So, shouldn't I see 0.0037 in my Ledger?

Update. I've been playing around with hthe program. In KMyMoney, when I transfer USD from my Bank account to BTC in my Bitcoin account, the automatic conversion tool does come up. But the entry is still only two decimal places. 15 USD is .0574 BTC. The conversion tool shows .0574, but the ledger records .06. How do I get the ledger to show .0574?

In KMyMoney settings, increase the precision to show all the decimals

Hei Ku wrote:In KMyMoney settings, increase the precision to show all the decimals

Yes, I tried this already. I tried increasing the number of decimal places in Settings>Configure KMyMoney>General>Global>Price Precision, but I still cannot get more than two decimal places in the ledger. I simply cannot enter say, 5.005004 or 0.004004. it defaults back to two decimal places.

Am I doing something wrong with the settings? I have Price Precision set to 10.

The number of decimal places that are accepted for any amount depends on the precision of the currency of the amount.

Then this tells me BTC should be precise to four or five decimal places. This is how bits are expressed in the currency (as I understand it).

However, I just went up to the web and Googled a currency converter. Converting from USD to BTC gives only two decimal places. Coinbase.com carries it out to six decimal places.

My problem is that I have One dollar deposited in my coinbase account. .004004. KMyMoney cannot record this.

AFAIK there is no way to change the currency precision form the UI, you need to edit the XML file to do that.

Code: Select all

zcat yourfile.kmy > newfile.xml

Edit newfile.xml with a text editor and look for the CURRENCY tag with id="XBT" and adjust these values then open the file in KMyMoney and try again.

• saf - smallest account fraction
• scf - smallest cash fraction
• ppu - parts per unit

cristian.onet wrote:AFAIK there is no way to change the currency precision form the UI, you need to edit the XML file to do that.

Code: Select all

zcat yourfile.kmy > newfile.xml

Edit newfile.xml with a text editor and look for the CURRENCY tag with id="XBT" and adjust these values then open the file in KMyMoney and try again.

• saf - smallest account fraction
• scf - smallest cash fraction
• ppu - parts per unit

Thanks very much for this. I may or may not give it a go. Right now, my workaround is to simply set up a USD account without BTC conversion. As long as I know where the money is coming from and going to I should be okay. I can always convert my bottom line.

Hopefully, the folks at KMyMoney will decide to add this feature to the UI.

It's a two-step process!!

The problem has been this: How do I express a deposit of one dollar USD in BTC if KMyMoney only allows two decimal places in the ledger?

In other words, I cannot express One dollar as .004004. KMyMoney won't see more than two decimal places. BUT, KMyMoney will see a larger BTC amount in two decimal places. In other words, one dollar is too small to convert to BTC in the ledger. But 26 dollars isn't. It's .10. See? So, I merely create TWO accounts. One to show my one dollar deposit I received from Coinbase (for signing up) and the transfer of 25 dollars from my bank to coinbase....in USD. Now, I create a second account in KMyMoney thta has BTC as it's currency. Then I transfer from the account that holds 26 dollars in USD to the BTC account and it does the conversion of the entire amount! And I have a BTC account in KMyMoney, from here on out, that can track my Bitcoin account only needing two decimal places.