Bitcoin Forum

On the Altcoin announcements page, I posted about ByteUSD, a coin that was originally meant to be traded for US dollars as a way to upgrade from fiat altogether.  It is forked from ForkNote, and you can find the Config code to use with ForkNote on the comments.

Now here's the mining-related question: with ByteUSD, you can mine over a billion coins in one block. Aside from the doubts of the value of the coin, is it a good idea to mine a coin that spits out lots of coins at once? If so, would it be better off unpegged to any other currency, crypto or fiat?

Yes. If the number of fractional digits is something out of this world, peg it to alts, it will move the decimal point to the right depending on BTC:ALT or FIAT:ALT exchange rate and allow for more convenient conversion.

It is good in your dreams like imagine what happens if each coin rises to $1 then you could become filthy rich just by mining a few blocks :).
Not a good thing.

I think it is better to keep it manageable and easy to read. Having to pay 100000000 of a coin for like only $2.70 is not easy to read it makes it difficult to.

Then you bet the other extreme where you using tiny fractions but that has not happened very much only with bitcoin and it is not so bad. Like most things in life you need a balance.

It's not a good thing. Cryptocurrencies are divisible down to multiple decimal points, fees might remove some flexibility from that but adding an unsubstantial amount of coins plagues flexibility of a  digitalc currency a whole lot more. There arevmany coins that failed to succeed with their quantity being the leading factor. In reality, no major trade medium has a value that low to be traded with a coin that can bebmined by the billions in each block so really there isn't much point for such "currencies" to exist other than experimentation.

I don't think it's a critical issue--in fact, it probably doesn't even matter much.  However, one of the things I like about DOGE is that you're not buying, selling, or using decimal amounts.  I just don't like it, and it's probably for Freudian psychological penis reasons.  Dash is valued such that it's almost perfect with respect to using whole units.  Bitcoin is short-dicked in that respect, but I can't really knock it.

I completely agree. It's not good for marketing and branding purposes when an expensive thing costs 0.0000..something.  

yup. it's dumb and goes totally against human nature. bitcoin really should've done something about this in the early days. i don't care what anyone here says, they're already indoctrinated. a normal person wants whole units, not fractions.

better to start off with vast amounts of units and hope it goes up than have to spend the rest of your life counting and recounting the zeroes before the amount you wanna spend.

It doesn't matter!
If the coins are too small, use kilo-coins, mega-coins, or exa-coins.
If they are too big, use milli-coins, micro-coins, or femto-coins.
It is annoying to see people discuss "sub-cent" coins as distinct than "valuable coins", it is the same thing.
The market cap, how the log of the value changes, and the technical features are all infinity times more important.

It shouldn't matter,  but kinda like when a stock splits up, people get all excited.   There's something in whole numbers that appeals to people's need to have large numbers of things.  That's my thought.  Personally I like dealing with big digits,  or at least not very small decimal amounts like you git with bitcoin.

I didn't think it mattered but professional investors and traders seem to like around 10 to 30 million coins. It has to do with the ability to move the coins price up and down. Too many or too little coins effects this process.

Yeah usually even though its a generalization.



But make sure you look into the specifics before just jumping into  because you see bigger digits

coins with low digits died
coins with high digits died and survived

but I only know Dogecoin with many digits and long term survival

I don't think many digits coins are bad, but for some reason the serious developers most of times decide to use

???

...decide to use ... what?
Coins with low digits died?

coins with high digits died and survived
but I only know Dogecoin with many digits and long term survival
What exactly is meant?