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1  Bitcoin / Development & Technical Discussion / Decimal Places in Bitcoin? on: November 29, 2014, 09:56:07 PM
I was reading this article here: http://insidebitcoins.com/news/bitcoin-foundation-seeks-standardization-of-the-bitcoin-experience/25414

They had this to say about the standardization for existing financial software:

Quote
Finally, the group hopes to develop ways to offer less confusion for the number of decimal places that are currently allowed in Bitcoin. For the average currency, a user only thinks about two decimal places. $1.52 is one dollar and fifty-two cents. But in Bitcoin, there are eight possible decimal places. Therefore, someone could note a value all the way out to 0.00000001 Bitcoin. Thatís one hundred-millionth. For the average person, that is likely to be very confusing. And itís a nightmare for accountants and financial software.

I was wondering if anyone could please help me understand how decimal places are handled in the Bitcoin source code, with regard to the length of the decimal place?

As far as the article goes .. would a solution be to just chop off anything below 100k satoshi, or would the total coin supply just be changed to 22,000,000,000,000.00 Bitcoins?

I tried reading through the wiki, and I can't really find a good description as to how that's handled.

Is there already a thread talking about this? Sorry if there is, please just point me to the link if you have it Smiley
2  Alternate cryptocurrencies / Altcoin Discussion / 8 out of the 15 top marketcaps are not mineable! on: November 23, 2014, 05:21:09 PM
In the last year, I've watched Proof of Work slide from the most commonly sought after, highest market cap group of coins based on current coins in existence to being represented by less than half of the top fifteen coins.

Taking its place, we have mostly variants of Proof of Stake coins that, by number, seem to be cornering the cryptocurrency scene.

Let's take a look:


Of this list we have the following coins that are not mineable:

NuBits
BanxShares
Fuelcoin
Stellar
Counterparty
NXT
Bitshares
Ripple

And these that are still mineable:

Bitcoin
Litecoin
Dogecoin
Peercoin
Darkcoin
Namecoin
Monero

Of the list that's still mineable, only two do not have publicly available dedicated hardware designed to eliminate GPU and CPU miners, while five have hardware available to follow an industrial mining process.

So, we now have roughly two coins out the top fifteen marketcaps that are capable of being mined by anyone with reasonably standard computer hardware.

Is Proof of Work dead, as a method to distribute a constant supply of new coins in a manner that requires a constant supply of fresh money?

What happened here?

What does the future hold for both PoW and PoS in terms of the number of coins with the top fifteen market caps based on current emission?

Will PoW become further industrialized, with a hardware race?

How long can Proof of Stake variants hold the top spot in the marketcap race?
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