Topic: The total number of coins is meaningless (Read 1193 times)

yeah but it is still just in our head and due to wallet programming..

cause I do have 700 million atto42coins.

Mined them in about an hour too. he could an An "a " the the wallet and it would be the same coin but everyone would be happy.

I have 700 trillion yocto   42coins. he really could fix the coin with 1 letter. and suddenly everyones perception would change, and he wouldnt have to change shit about the coin itself.

where is letterman when you need him.

well, on one hand you are correct, but on the other you've already seen that it does matter.... Cryptsy won't let you sell your 42 coin because you didn't have enough... now had that been an equal value of LTC you would have no problem selling it at all

also, perception means a lot, if coin a is trading at .00000006 BTC it appears to be worth very little, even if the marketcap for the coin is higher than other coins trading at .0043554 BTC ... BTC was the original, and until another coin overtakes it as the front-runner then everything will be compared to its value and scarcity , right or wrong

I wouldn't mind to mine 1BTC a day  , but I agree with others - these "rare coins" are really annoying.

no one wants to mine 1 coin in a day when they could mine a million. 

I mean meaningless in ... the concept of math.

It does have extreme meaning, for people.

I dont like fractions either.

heck I dont like small whole numbers.

the 42 guy really could just pick a block, and change everyone's coins into 42million coins.. just add zeros and get rid of the fractions.. cause what he calls it ultimately is meaningless, but in reality, it pisses me off to have 7e-6 coins. Its liek this btc ticker.. nothing changed they added a litle m in front of BTC... ,mBTC.. they invented a new dollar bill.

Hey I could fix 42 tomorrow, make the wallet measure in nano 42 coins, and have all the exchanges do the same.  Now i have .7 n42 thats a bit better than 7e-6

or better picos.. and I have 700 p42coins

or femtos and I have 700,000 femto 42coins.. holy shit I am rich.

He really should have the wallet measure in nanos.. and get rid of the retarded fractions.

None of the coins with a low total have done well at all.  Similar to a mention above;  you basically cannot have a new alt with a higher (theoretical) value than BTC per coin.  (E.g- less total coins)

The more interesting evolution, to me, is the Increasing of coin cap with alts.
   People tend to have this mentality of a minimum BTC or USD value.  With BTC that Used to be 0.0XX, then it was 0.00XX, then 0.000XX, then 0.0000XX;  and so on.  For an alts value versus BTC;  this has been what people used / thought of as a minimum.  For example, "Coin X is only worth 0.000XX right now!!  Imagine how much it can go up!"  
   Similarly, with dollars, many connect a maximum value to dollars;  which has also lowered over time.  With USD; that Used to be 10.00, then 5.00, then 1.00, then 0.10, and so on.  This has been what people considered as a maximum value for a coin.  For example, "Coin X could go as high as 1.00 each!"

For the most part, each successive wave of alt coins has a lower potential value to the consumer for a max / min worth.  People a year ago, would have considered 0.0001 a totally worthless coin;  however now many don't ever reach that high.  

The solution that coin makers have used is to offset the lowering potential value with extra zeros on max coins minted.  As these coins become worth less and less, Developers just make coins with higher caps.  Each drop in max potential value of a coin; is met with a larger increase in total coins of the next alt.  There was a time a couple hundred million was normal, now it seems several hundred billion is common.  I note now there are even coins over 1 Trillion!

I've laughed recently hearing people tout Coin X may get up to 1 penny (0.01) in value.  Now that's shooting for the stars there!

just to ramble on.. been mining them kush coins.

it really is the same with society, if we got rid of the dollar, and actually sold value, people would have a greatly different concept of society.

When it comes down to it, I dont want to make my own loaf of bread. I got things to do. I dont want to plant wheat or grind flour. So I do other things of value, to trade to someone who will do all that.

When it comes down to it, whether it is by labor, by thought, or by electricity, what we are selling is calories. And the only value is how many calories we must sell to get a loaf of bread.

And yes It would help people understand inflation, but also compensation. The rich tend to be a lot richer than their money suggests. because they sell their calories for top dollar. You can actually make less than someone else in dollars but be making more than them in calorie/bread compensation. Like if you are digging ditches for 10 an hour, and I answer phones for 7, I'm probably actually "paid" more per calorie. Football players dont make as much as it looks because they work hard, they spend a ton of calories. They make a lot of money, but they sell a lot of calories. They still probably get more per calorie than most of us, but they get less per calorie than say an executive who makes a little less than they do, but doesnt have to lift weights to do his job.

I make more than someone who makes several times the dollars I do... I just sell less calories than he does, but get more per calorie.

dollar bills muddy this concept. When it all comes down to , I'm a lazy bastard who doesnt want to make his own bread, and I want to expend as little calories as possible doing something else, and be compensated with a loaf of bread. what you call that compensation is meaningless, I just want a sandwich.

It's not really meaningless though. I do know what you are saying, the value is the same, but people generally do not like to trade in fractions, so I feel the higher number coins will do best (1 billion+).

Yeah, much nicer to be a billionaire, even when 1 billion coins x zero is still zero :p

I like that too.

every coin is really just one big coin, or a trillion, it just depends on how you divide it up. But when it comes down to it, you are right there is only one coin.

The money supply is always 1.

its just easier to say.. I know yall do it with the exchanges too .. "moons trading at 17" because it is easier than saying it is trading at 17 ten billionths of a btc.

Yeah my bud laughed when he asked how many 42 i had and I say 7e-6

yeah screw that noise, I like nice normal big numbers.


it is also funny to see people get wide eyed when they go off on btc being worth 1000 and I say well there is one coin called 42 where each is worth about 300k.. it was up to a 1million a coin.... and I HAVE SOME.
lol.. then i have to explain only a little more than 1 has been mined.. and my little bits is worth about $1.80.. normally I wait until after I get laid of course.

people just have this concept of money in their heads that really doesnt mean anything, we are just used to how we divided shit up all our lives. They actual value of a dollar changes, we just dont see it shrink a grow because we wrapped a nebulous concept around the idea of a dollars worth of value. WHen the "value" is how much work you do for a loaf of bread. Just like for us, how much elect does it cost for a loaf of bread. Thats really closer to what a "true coin" is. The value to give a human so much calories. It we actually bought bread that way.. trading our built up work minutes rather than dollars. We would have a better concept of the value of things and what is going on with inflation. We still do but there is one level of disconnect.... sorta like trading coins for ltc to trade back to btc.   You have to do math to actually get it. The price of bread doesnt really change.. well actually it has gone down a lot, due to productivity increases, but we pay more. What has changed is dollar is worth less work hour bits, so it takes more to get a loaf of bread.(besides flux in supply and demand, it basically costs the same calories to make a loaf of bread, the time it takes to grow wheat or how much sun it needs and water, hasnt changed, how much energy it takes to grind the flour, none of this has really changed much.. except gotten cheaper due to more efficient methods.. tilling the soil, using better rounded grinding rocks.. etc)

and so is the price of solving hashes.. it takes the same elec each time... so a coins only value to me, is how much i get for my hashes. How many hashes does it take to get a loaf of bread. How many coins there are, is just meaningless bullshit. And until you can buy bread with them, it is super meaningless bullshit

agreed! it's much nicer to send an integral number of coins. those "rare" coins are just ridiculous

I have been laughing at the same thing.  I also love posts that can't believe a coin value of 1 coin of a currency like 7 coin could possibly be worth more then a coin in BTC.  It's just sliding decimal points over.  Personally I like coins with a higher value, possibly in the billions, since I don't like dealing in small decimal points just to make someone feel like the coin is more rare.

I see 21 coin and 42 coin and 84 coin and coins with trillions of coins and laugh. it is all meaningless. The only rare coin is one that no one mines.

42 has just as many coins as any other coin. They just dont name them. It is liek a society with nothing but 10,000 dollar bills but people still get paid less and infractions.
Just cause they didnt call a penny a penny doesnt mean it doesnt exit.

I have 0.00000077 42coin left cause cryppy wont let me sell that little.. people arent used to that number.. they dont say it often in every day life.

but you can move the decimal anywhere as long as you do it across the board
.
you can say I have 77  of a new coin I just decided to call 42million coin.

I dont even have to write any code.. it is the same thing.

hey if we took every penny, in america and put an extra zero on it.. so pennies are 10 cents, quarters are 250, but of course a big mac costs $50 now.. elec is 2000 dollars and shit but nothing has changed.

we all still have the same value of wealth.


Just saying, dont get hung up on these "super rare" coins and crap.,... its meaningless you can put a rapper around any group of bits and call it a coin... it doesnt change how much you get per hash per watt digging in intrinsic value.


hey you could mod the bitcoin system to cut it in half. every bitcoin is now 0.5 bitcoin, even the ones left to mine. suddenly the price is $2000  and the "number of bitcoins" has  been halfed.. but nothing has changed really.. if you had one btc worth a grand  before the change, you now have 0.5 btc worth a grand. You might get less "bits" in your wallet as you mine, but you get the same value. WE just arbitrarily changes what we call a coin.. but nothing really has changed.. you can do that until bitcoin is as sill as 42. Just divide the entire shebang by a million.

The concept "coin" is just a wrapper, so that we can easily put shit in our head. But we can put that wrapper anywhere.

coins like 42, 21, and 84 just decided to not give us names for pennies. PERIOD. They still have pennies.. or a "concept of a pennie' just no name for it. its a society with nothing but 10,000 dollar bills, but you can still get some gum for 0.0001 tenthousand dollar bills.... just no one bothered inventing the dollar.


Money is imaginary, dont get too caught up into the idea that it is real.... the rare coins are nothing more than annoying all they did was name the lower denominations fractional names that the common person rarely uses. But they still have as many coins as any other.. they just dont name them.