Quote from: Francisdoge on December 29, 2013, 01:01:37 AM

Quote from: LevelUP on December 28, 2013, 08:12:38 PM

Hi BitcoinTalk,

I'm new to Bitcointalk but not new to cryptocurrency so I wanted to point out a couple of observations Ive made regarding alt coins.

Floating point numbers in modern computers can go up to 2^53 or aprox 9.0x10^15 units... after this point the numerical system goes haywire (google it).

Bitcoin is 2.1 x 10^15 units, at 21,000,000 bitcoins divisible to 0.00000001 and Litecoin has 8.4x10^15 units (which is uncoincidentally close to the above mentioned limit)

In simple terms therefore DO NOT put money into any coin with more than 90,000,000 coins divisible to 8 decimal places (Quark, Dogecoin etc) unless you are a speculator playing the pump n dump market well as by definition its dead in the water.

Care to elaborate more on this topic ?

Why can't such coins reach the top of the foodchain in cryptocurrencies ?

I'm genuinely interested in the explanation. Quark seems to be holding quite nicely and according to you it shouldn't.

Fractalbc said it quite well above, essentially however, if the foating point number system goes above this number it's analogous to an odometer at 9,999,999 ticking over to 0,000,001, except the numbers dont follow a noticable pattern and can become negative. The concept reminds me of Y2K. Furthermore, how can one expect anyone to ultimately embrace a fundamentally flawed protocol when there are a plethora of viable currencies to choose from.

As for Quark, I have no crystal ball but I believe that most people dont understand the bigger picture and are essentially being manipulated by some clever players, hence why it has value. Short term go for it, but I see no intrinsic value to a premined, poorly distributed quark.

As for some of the other comments, I dont disagree with anyone speculating for a quick and profitable turn using alt-coins, what is destructive and ultimately unethical is 'communities' of scammers.

R0ach, anyone who thinks that issuing a currency with an outrageous block reward resulting in a highly skewed money supply for early adopters isnt a scam is fooling themselves, but more than anything else, fooling those around him or her. Its a way of pseudo pre-mining... noone knew the race was about to start, noone knew the race would exponentially benefit those at the start more than anyone else by many factors and a few miners/insiders have large amounts of processing power ready to switch on at the word GO.

There is no economic justification, and ultimately economics will prevail here, for anyone to adopt a coin which has already centralized most of its value in the hands of a few, like quarkcoin.

Dogecoin is a meme, its money supply is a joke, akin to a premine and I wont be investing in a single coin long term when the money supply doesnt even compute on most computers. If there's a lesson to be learned it's that social media and a robust community and implementation of a cryptocurrency protocol can open the door for a legitimate coin to scoop some market share. That coin is not Doge. WOW.