IOTA

[Come-from-Beyond]

Good update!

That's a freaked out looking coin max though,

2,779,530,283,277,761

has any previous coin had quadrillions before?

Previous supply was 360 times larger.

[instacalm]

2,779,530,283,277,761 is a very sweet looking string of numbers. I like it a lot.

2,
779,
530,
283,
277,
761

[hoertest]

cfb how will exchanges deal with your new supply?
Can you comment on my concerns here https://bitcointalk.org/index.php?topic=1216479.msg14565826#msg14565826 ?

Is the Mitoa solution really that simple for eg Polo?

[Come-from-Beyond]

cfb how will exchanges deal with your new supply?
Can you comment on my concerns here https://bitcointalk.org/index.php?topic=1216479.msg14565826#msg14565826 ?

Is the Mitoa solution really that simple for eg Polo?

Megaiotas.

[P-Funk]

Cross posting from speculation thread.

I'd like to nip the unit question in the bud and say that 10,000,000 (10M) atomic iotas should be "united" into a tradeable, human-understandable decimalized token referred to commonly as IOTA. So the 30,000 old-IOTA is now 83,385,930,000 atomic iotas (could be called αIOTA or aIOTA) or 8338.593 "IOTA"

With 10M atomic iota/IOTA units this puts the total IOTA supply (as you would see at coinmarketcap.com for example) at 277,953,028.3277761. The price my buyer paid per IOTA would be 1 / 8338.593 = 0.00011992 BTC which is much better understood to cryptocurrency markets than 0.0011992 satoshis.

I'd like to see the JS client UI also use the decimalized IOTA I'm proposing. In the backend it can still be atomic with no decimals.  But for people, services, and exchanges, there should be a standardized unit that is put forward by the IOTA team. Ethereum for example uses an atomic unit called "wei" on the network, but has built-in units going up to "ether" to decimalize the units and make them easily tradeable and human-understandable.

I understand that IOTA isn't necessarily meant to be used mostly by people, however to be a token of value it needs to be traded on markets. To not put forward an official decimalized token would lead to deleterious effects on its market adoption, liquidity, and value.

[ifinta]

^{Cross posting from speculation thread.}

I'd like to nip the unit question in the bud and say that 10,000,000 (10M) atomic iotas should be "united" into a tradeable, human-understandable decimalized token referred to commonly as IOTA. So the 30,000 old-IOTA is now 83,385,930,000 atomic iotas (could be called αIOTA or aIOTA) or 8338.593 "IOTA"

With 10M atomic iota/IOTA units this puts the total IOTA supply (as you would see at coinmarketcap.com for example) at 277,953,028.3277761. The price my buyer paid per IOTA would be 1 / 8338.593 = 0.00011992 BTC which is much better understood to cryptocurrency markets than 0.0011992 satoshis.

I'd like to see the JS client UI also use the decimalized IOTA I'm proposing. In the backend it can still be atomic with no decimals.  But for people, services, and exchanges, there should be a standardized unit that is put forward by the IOTA team. Ethereum for example uses an atomic unit called "wei" on the network, but has built-in units going up to "ether" to decimalize the units and make them easily tradeable and human-understandable.

I understand that IOTA isn't necessarily meant to be used mostly by people, however to be a token of value it needs to be traded on markets. To not put forward an official decimalized token would lead to deleterious effects on its market adoption, liquidity, and value.

Why not 100M ? It would be better comparable with BTC and satosis.

[LitcoinCollector]

^{Cross posting from speculation thread.}

I'd like to nip the unit question in the bud and say that 10,000,000 (10M) atomic iotas should be "united" into a tradeable, human-understandable decimalized token referred to commonly as IOTA. So the 30,000 old-IOTA is now 83,385,930,000 atomic iotas (could be called αIOTA or aIOTA) or 8338.593 "IOTA"

With 10M atomic iota/IOTA units this puts the total IOTA supply (as you would see at coinmarketcap.com for example) at 277,953,028.3277761. The price my buyer paid per IOTA would be 1 / 8338.593 = 0.00011992 BTC which is much better understood to cryptocurrency markets than 0.0011992 satoshis.

I'd like to see the JS client UI also use the decimalized IOTA I'm proposing. In the backend it can still be atomic with no decimals.  But for people, services, and exchanges, there should be a standardized unit that is put forward by the IOTA team. Ethereum for example uses an atomic unit called "wei" on the network, but has built-in units going up to "ether" to decimalize the units and make them easily tradeable and human-understandable.

I understand that IOTA isn't necessarily meant to be used mostly by people, however to be a token of value it needs to be traded on markets. To not put forward an official decimalized token would lead to deleterious effects on its market adoption, liquidity, and value.

Why not 100M ? It would be better comparable with BTC and satosis.

I think it has to do with the fact it has to be whole Iota's. Also the Iot is going to need a lot!

[Videodrome]

we need some marketing work to adjust to new "trilion " vision.

Like a tab with different amount and name and drawing about the "what big numer is that" problem.

G-IOTA M-IOTA K-IOTA or somethings like that. with a specific logo for the G- M- K- numbers

[Tobo]

If you want more business oriented people and programmers know about IOTA and maybe have some chances to let some programmers and startups explore their opportunities on IOTA, you can connect to some of your local IoT meetups in your areas. There are some meetups in every corners of the world. Here is a link to let you find out several IoT meetups near you - http://www.meetup.com/find/?allMeetups=false&keywords=IoT&radius=Infinity&userFreeform=Atlanta%2C+GA&mcId=z30342&mcName=Atlanta%2C+GA&sort=recommended&eventFilter=mysugg.

You actually don't have to go to the meetings. You can just connect to those meetups on the internet and discuss IOTA through online discussions or messages. There are lots of programmers and startup minded people in those groups. Let's help IOTA reach out to the real IoT world. But please do it as an individual just like your making posts on the BTT and do not represent IOTA.

[KimNg]

Tech update: http://forum.iotatoken.com/t/iota-tech-update/264

Good update!

That's a freaked out looking coin max though,

2,779,530,283,277,761

has any previous coin had quadrillions before?

IOTA amount in trillions not quadrillions, don't freaked out there's extremely important reason for this.  

It's quadrillion, as in the size of the world derivatives market. (see my previous posts for links on the banks OTC derivatives)

If we stick with SI prefixes, there will be no mixing of short/long scales.
https://en.wikipedia.org/wiki/Metric_prefix
https://en.wikipedia.org/wiki/Long_and_short_scales

Bitcoin has 21 million units, divisible to 8 digits. 1 satoshi = 1 sat = 00000000.00000001 BTC
21000000/0.00000001 = 2.1 x 10^15 units = 2.1 quadrillion units

Bitcoin supply:
21000000.00000000 BTC = 2.1 peta-satoshi = 2.1 Psats

IOTA supply:
2779530283277761 IOTA = 2.779530283277761 peta-iota  ~= 2.77 Piotas

A 32% larger supply and no decimals to monkey with!
+IOTA

[olarsson]

It's quadrillion, as in the size of the world derivatives market. (see my previous posts for links on the banks OTC derivatives)

If we stick with SI prefixes, there will be no mixing of short/long scales.
https://en.wikipedia.org/wiki/Metric_prefix
https://en.wikipedia.org/wiki/Long_and_short_scales

Bitcoin has 21 million units, divisible to 8 digits. 1 satoshi = 1 sat = 00000000.00000001 BTC
21000000/0.00000001 = 2.1 x 10^15 units = 2.1 quadrillion units

Bitcoin supply:
21000000.00000000 BTC = 2.1 peta-satoshi = 2.1 Psats

IOTA supply:
2779530283277761 IOTA = 2.779530283277761 peta-iota  ~= 2.77 Piotas

A 32% larger supply and no decimals to monkey with!
+IOTA

Why not have 8 decimals like BTC?

[50cent_rapper]

It's quadrillion, as in the size of the world derivatives market. (see my previous posts for links on the banks OTC derivatives)

If we stick with SI prefixes, there will be no mixing of short/long scales.
https://en.wikipedia.org/wiki/Metric_prefix
https://en.wikipedia.org/wiki/Long_and_short_scales

Bitcoin has 21 million units, divisible to 8 digits. 1 satoshi = 1 sat = 00000000.00000001 BTC
21000000/0.00000001 = 2.1 x 10^15 units = 2.1 quadrillion units

Bitcoin supply:
21000000.00000000 BTC = 2.1 peta-satoshi = 2.1 Psats

IOTA supply:
2779530283277761 IOTA = 2.779530283277761 peta-iota  ~= 2.77 Piotas

A 32% larger supply and no decimals to monkey with!
+IOTA

Why not have 8 decimals like BTC?

Cause IOTA is aimed for Internet of Machines.

[iotatoken]

It's official: we'll use SI system to name IOTA quantities.

[farl4web]

It's official: we'll use SI system to name IOTA quantities.

Great! ....uh what is that? 

[Silmarils]

https://en.wikipedia.org/wiki/Metric_prefix

It's official: we'll use SI system to name IOTA quantities.

Great! ....uh what is that? 

[farl4web]

https://en.wikipedia.org/wiki/Metric_prefix

It's official: we'll use SI system to name IOTA quantities.

Great! ....uh what is that? 

Yup, found it. A bit more information about what it will be used for with some examples would be nice. These big numbers are already mindblowing. 

[wizzardTim]

Glad IOTA got rid of decimals!!! I just got to get familiar with big integers.

BTC always looked strange from the first place with all these decimals.

[youyou_]

Glad IOTA got rid of decimals!!! I just got to get familiar with big integers.

BTC always looked strange from the first place with all these decimals.

you don't need to use big integers
just use this:

1 KiloIota = 1 kIota = 1 000 Iota
1 MegaIota = 1 MIota = 1 000 000 Iota
1 GigaIota = 1GIota = 1 000 000 000 Iota
1 TeraIota = 1 TIota = 1 000 000 000 000 Iota

[Lazz]

Glad IOTA got rid of decimals!!! I just got to get familiar with big integers.

BTC always looked strange from the first place with all these decimals.

you don't need to use big integers
just use this:

1 KiloIota = 1 kIota = 1 000 Iota
1 MegaIota = 1 MIota = 1 000 000 Iota
1 GigaIota = 1GIota = 1 000 000 000 Iota
1 TeraIota = 1 TIota = 1 000 000 000 000 Iota

Since iota means "nine" in greek, should we say that iota is a bundle of 1 000 000 000 units (nine zeroes)?

[P-Funk]

It's official: we'll use SI system to name IOTA quantities.

And which unit will you officially recommend to markets to avoid chaos?