Not intended for doing quick mental math... the intent is to shorten the representation on a web page and get the "order of magnitude" at a first glance.

When needed, it is very easy to convert to decimal. You do not need to count with your fingers the 5 zeros on the web page (or was it 6?) to enter 5 zeros on a calculator.

Sort of... but it is more like a simple run-length encoding compression of the zeros adapted to a specific purpose.

0.00000012 Coins

is abbreviated to

6|12 Coins

I doubt people prefer reading/typing/buying something like:

1.2e-7 Coins

Case in point, scientific notation is widely known, yet, it is not used by web sites to solve the problem stated in the OP.

Sometimes reinvention is good
===================
Why twitter did not use URLs for their user accounts? It is because they needed something shorter to keep the tweet practical. They were just reinventing the URLs for their specific purpose and it did end up well. Now the meaning of "@someone" or "#subject" is widely understood, but was a total mystery ~7 years ago.

Asking the mobile generation to deal with a bunch of hallucinating zeros or the scientific notation might be an obstacle (IMHO).

Thanks for the feedback.

It is obviously not intended as a general purpose replacement to the decimal and scientific notation.

Nobody use the scientific notation in the context of crypto currency, yet everyone knows about scientific notation... so something else might have a shot at it... but it will need all the luck you have to offer  

You are correct, we can't expect a new notation to be understood by most... it has to be learn and nobody is being teach a "point zeros notation".

BUT

The millennial generation are quick at switching to whatever is shorter and faster, and a bunch of zeros is a "problem" in our context. Often the new notation/abbreviations gets quickly adopted from the internet, no school involved. It is in that perspective that it might be OK to try something different.

Time will tell, and this "point zeros notation" might just die with this thread.

(Correction: I was referring only to the death of this proposal. The digitalindustry standard might shine from and beyond its own thread)

Thanks for the feedback.

Yes, I think the lower case z is well representative of the word zero. I did favor it over the upper case Z because it might be confused with a 2 in some font.

I guess we will have to disagree for the zero count. The one before the dot is not significant, and when I read such number aloud I do not think of it.

Just to be clear, this proposal is related to the same problem, but it is not a variation "on" your work. It was develop independently and it is typical for similar solutions to show up when a problem is common to many.

I had the same question before coming up with this proposal, and... it did raise another question:

if scientific notation is the solution, then why it is not already in use by crypto exchanges and web sites etc...?

It seems that scientific notation might not come natural to most.

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Wild Guess: The negative sign in the scientific notation might also be a turn off when used in a currency value... people have feelings   

Thanks. I was not aware of this related work.

One key difference is my proposal reads aloud the same way I am thinking while reading small values on crypto exchanges.

I "count" the number of zero after the dot and process the rest of the number.

digitalindustry put the magnitude second, so you need to think twice about it. First you process the coefficient and then second you shift it in your mind. I have the same problem with scientific notation (in the crypto currency context)... but it might just be me.

Handling of decimal fractions for coins is error prone. I often have to count more than twice the number of zeroes after the dot.

The proposal here is to eliminate the fractional zeros and simply put their count before a symbol.

The result is very concise and improve readability.

Examples:

0.012       becomes 1|12
0.0012      becomes 2|12
0.00012     becomes 3|12
...
0.00000012  becomes 6|12


At a glance, 0.00000124 looks similar to 0.0000124

  BUT

5|124 is clearly different than 4|124
 
The symbol pronunciation is simply "zero(s)".

Example:
  7|8 is pronounced "7 zeros 8" and represent the value 0.00000008

(If the character '|' is not available, then I suggest to use instead a lower case 'z')

Just want to add here that this strategy is done since a long while because of the coinchoose followers. It is not particular to the most recent multipools. I even did it myself with as little as 9MH/s on a coin.

Some difference particular to multipools are:

(1) Multipools seems to converge the users toward a single pool. In contrast, the coinchoose followers are more spread.

(2) Multipools have to do short term automatic dumping. The dump from the coinchoose followers is obviously less systematic... it was not damaging as much the market (as far as I know).

Two differences causing two different issues.

Anyone else want to propose solutions? Go wild with suggestions, this thread is still just brainstorming.

True, but I think the discussion here is to protect the coin against issue (e.g. bearish pressure) coming from its own mining process. Finding ways to make the coin go UP on the market is a whole other subject.

Who will keep buying a given coin in large quantity if speculators have no room left to operate?

Please don't kill the goose  

I understand most are not to be concern about this on short term. I just hope a coin developer is observing and willing to try to experiment about this. It might make a difference on long term.

Personally, I am concern about automating the mining/dumping part... with some synchronization at a large scale.

I have observe the effect of this on CAP for days. The sell orders are constantly filled, so both price and difficulty get into a cycle of reduction. It remains profitable from a miner standpoint, but it stink from an investor/speculator perspective. On long term, that can't be good for everyone.

I am not as much concern about the size of a given pool (and the fork thing which might be another matter). More automated service will be created and it is now becoming easier to collectively target the same coin. Coinchoose was just the tip of the iceberg.

Solution?
======
Making newly minted coin "special" may address the issue fairly. It will not matter if being produced from a large automated pool or not... it is all about making it harder to profit from mining/dumping systematically.

Here are a few thought about how to make a coin relatively less lucrative to mine by these pools:

(1) Make a coin POS more profitable than its POW. In other word, make ownership more rewarding than mining/dumping.

(2) *Newly* minted coin could take, say, 72 hours to be confirmed... this will cause a high risk of price slippage. Furthermore, long delay will throw a wrench into multicoin pool daily payout. That will make mining heavily this coin a tough choice compare to the other coins. The long term investor/miner won't mind though.

(3) *Newly* minted coin could have a very high transaction fee, which would be offset by doing POS on it for a little while.

(4) Difficulty fine tuning that consider market price(s) relative to other coins. This is likely a tough one to implement and get people agree with... just mentioning it. Some neutrality might be possible if that system is somewhat decentralized by many coin developers, exchange and volunteer servers.

These are just a few seed for brainstorming, I did not do much work into checking for feasibility.

h2odysee,

Do you plan to "diversify" by mining/dumping multiple coins at the same time? Say, mine the top 5 profitable instead of the top 1?

I suspect your automation might be related to an increase of sell versus buy order ratio being fill at Cryptsy.

If blindly dumping daily (even slowly) >8BTC on just a couple of coins, then you may affect the market at your disadvantage. It will work well at first, but on the long run the profit advantages will be less and less for most coins.  The buyer have little need to increase the price (except when pumping of course). The buyer just need to wait for the next automated sell order. Such bearish pressure might kill the goose.

Just food for thought.

EuSXfBuf1fj9xidehEgYojcVMNuVr8V8qp

Thx.

Typo in OP: .015% should be instead 1.5%

Update: Now fixed

h2odysee,

Exposing which coins you are going to sell next is likely to hurt the performance. It is too easy to manipulate the market in front of your dumping.

===

If your value proposition is to keep it simple (miners give you scrypt hash power and you simply give BTC back), then I do not see the point to get all the internal stats.

Someone who "need" all the internal stats is likely someone with the mindset to control all the steps. Good for them, but they will unlikely be satisfied with anyone else fully automated solution (which will sometimes do unprofitable moves) or the management fee. Why bother.

This is similar to choose to trust (or not) a Mutual or Hedge Fund. You give up control to the managers, and what really matter is how much money end up in my pocket.

Personally, I don't need the micro-management details to evaluate if your pool is good compare to my other approaches (and the time I have to spend on these). I just need to monitor the BTC/Hash rate at the user level. It is that simple.

===

Furthermore, public scrutiny into your automated strategies will slow you down from adapting your design. You will have to constantly explain your changes rather than being creative (and more profitable?).

===

Good idea. Keep up the good work.

I think this would make things worst.

First, the market would be all over the place on resume.

Second, this would provide a way to remove all the sell/buy walls.

We do not need more reasons for "hackers" to use DDoS as a tool to manipulate the market.

Same for me. Site unreachable.

Only getting the incapsula page and the nginx gateway error.

the1silverwolf: I like your pool, but I do pool switching base on short term profitability... and right now BOT/CAP is falling hard on Cryptsy.
(I am the user "somew" in your pools).