Post
Topic
Board Development & Technical Discussion
Re: Significant Decimal Precision
by
spartacusrex
on 18/07/2019, 21:50:21 UTC
Ok.

I can see most of you think that we will never need more than the 8 we have 'because' .. it's enough. (At least for the next 100 years even at 2% expansion)

I think things are moving much faster than that ?

“Measured in current US dollars, total global wealth rose from USD 117 trillion in 2000 to 317 trillion in mid-2018, a rise of USD 200 trillion, equivalent to roughly 2.5 times global GDP.”

We'll soon have individual trillionaires..

There is zero chance we don't hit quintillions as a 'number' in the next 50 years.

Now - is Bitcoin going to live that long ?

I hear this mythical date in 2140 when we find the last scrap.. but does it have to be.. if only we could keep halving.. for-EVER!

Also - We'll be into mega-sexta-zetillions by then.. OF COURSE WE'LL NEED MORE RESOLUTION!!  (then)

The M2M economy, as I mentioned earlier, works orders of magnitude lower down the real-time trough. They'll be chatting away hundreds of times a second, querying each other for data etc.. the 'yearly' spend per device will be less than $5.. chopped up millions of times. There are 5 billion Sim/WiFi enabled IoT devices launched a year as of today. Trillions to come. These numbers get really big. 

May as well sort this out now.. no ?

Can you fork every time, maybe every 20 years.. add 8 decimal places ? I don't see it. Forks are hard and this is currently a hard fork. Although you could hard-fork a perpetual soft-fork mechanic to do this Smiley ..hehe

Is there another scheme that works from day one ?  - You could just add a decimal place automatically every million blocks or so. As hardware improves, it'll be able to handle it.

But I like the notion that the above scheme never needs better hardware.. for when these things are hardwired, on chip.

Anybody see any problems with it though ?