We had fun naming the different DirtiCoin denominations after different amounts of dirt. However, it wasn’t just about having fun. There are some practical reasons naming these incremental values.
Why Have Denominations
One important feature of a currency are fractional values to facilitate commerce. If the USD only came in $100 bills, you wouldn’t want to use it to buy a loaf of bread unless you could get change back.
Different denominations make it easier to compare values. For example, if a piece of candy costs 1 penny and you have a dime in your hand, you know you can buy 10 pieces of candy.
Admittedly, with digital currencies denominations become less important. When all the transactions are carried out on a computer, making change from a purchase is just a matter of math and showing the results. You don’t have to figure out how many quarters, nickels, dimes, pennies, ones, fives, tens, and twenties you need to give back in change.
Cryptocurrency Value – Descriptive Denomination Names and the DiD
Creating or naming different denominations of DirtiCoin enables the use of a common short descriptor to specify the volume of DirtiCoin being discussed.
The primary reference for discussing DirtiCoin is the DirtiDollar (DiD). One one hand, there are several denominations of lesser value than the DiD. On the other side, we have many above the DiD. We anticipate that these denominations facilitate fractional exchanges of value down to a level usable in ordinary retail commercial activities. Also, for mega exchanges of value. Fractional values are also a feature of fungibility (read more on fungibility here).
Lots of Pieces of Dirt
DirtiCoin has the following name for the various denominations of the currency (see Table 1 DirtiCoin Denominations, below). The most commonly used denomination is the DiD (DirtiDollar), and purchases of DirtiCoin are assumed and projected in whole DiD amounts. The realities of the marketplace demonstrate a substantial market for fractional sales of DirtiCoin. The effect of fractional sales is to make DirtiCoin available to the widest possible audience of interested buyers, and to allow fulfillment of all purchase offers without having to truncate them into DiD when a fractional purchase can be used to capture any remainders.
Cryptocurrency Value – DirtiCoin and Pennies
One DiD, a truck of dirt, is worth about $100 USD. This makes the DirtiDime (DiE), a bucket of dirt, worth about $10. The DirtiPenny (DiP) is a shovel full of dirt and worth about $1 USD. So, .25 DiP is about 25 cents. You can also call that 2.5 Soy (a square yard) or 25 Soft (SFt) or 25 square feet of dirt.
Below the value of a penny the USD doesn’t have any official denominations. The financial world uses the terms “points” and “basis points” or BPS. One point is the same as 1% or 1 penny. It takes 100 basis points to make one full point. So, 50 bps is half of a US Penny. Unlike some currencies, the US has no ha-penny, or half-penny. When you go below the value of one penny you have to be digital.
DiD and Big Money
With US currency people can use paper money denominated in fractions of $100. The $1, $5, $10, $20, $50, and $100 all are intended to make your wealth more portable and easily exchanged. Carrying around a $100 bill is much easier than carrying around $100 in US Pennies. Experts estimate that much money in pennies could weigh as much as 68 pounds (more than 30 kilograms).
Strangely, US currency has no names for larger denominations. As a result, financial statements often simply round or truncate numbers and provide a note that “all numbers are in $1000 dollar increments.” With DirtiCoin we decided to go big. A DirtiAcre (DAc) you have one hundred DiD. It is worth about $10,000 USD. Next up is a DirtiSection (DiS), worth 1,000 DiD or $100,000 USD.
Cryptocurrency Value – Big Dirt
Want to go bigger still? DirtiCoin can handle it.
Own a town. Not literally. A DirtiTown (DiT) is about the same as $1 million USD. Want a piece of the countryside, a DirtiValley (DiVa) is the equivalent of $10 million USD and a DirtiMountain (DiMo) is about $100 million. DirtiIsland (Disl), DirtiCountry (DiNa), DirtiContinent (DiCon), DirtiWorld (DiWo), DirtiSolarSystem (DiSol), DirtiGalaxy (DiG), and even Dirtiverse (Asimov).
Of course, these denomination names are purely symbolic. No ownership of any real world real estate conveys. Just because you have a DiT doesn’t mean that you, or the Company, owns a whole town somewhere.
Debit Card in the Future
Fractional ownership of DirtiCoin also has the effect of more thoroughly democratizing the currency and making it useful for purchases using a debit card. Debit card arrangements for DirtiCoin are anticipated at a future date.
Playing in the Dirt
Nearly all the denominations of DirtiCoin have names associated with some measure of a quantity of dirt. A DiD is a truck full of dirt. Ten times more is an acre of dirt (DAc). This goes all the way down to a Mote (which may be in your “brother’s eye”) and all the way up to a universe (Dirtiverse, also called an Asimov).
We nicknamed the largest increment after the scientist and science fiction writer Isaac Asimov. In his Foundation series he created an entire universe populated by humanity. His series was one of the first science fiction series to embrace such a large scale and scope. It seemed appropriate to honor him in this way.
DIRTICOIN DENOMINATIONS
| Descriptive Value | Number Value | Name | Nickname |
|---|---|---|---|
| 0.000000001 | 1.00E-09 | Mote | a mote |
| 0.00000001 | 1.00E-08 | Fleck | a fleck |
| 0.0000001 | 1.00E-07 | Grain | a grain |
| 0.000001 | 1.00E-06 | Pebble | a pebble |
| 0.00001 | 1.00E-05 | SQin -Pronounced ‘skin” | a square inch |
| 0.0001 | 1.00E-04 | SFt – pronounced ‘soft’ | a square foot |
| 0.001 | 1.00E-03 | SY – pronounced ‘soy’ | a square yard |
| 0.01 | 1.00E-02 | DirtiPenny (DiP) | a shovel |
| 0.1 | 1.00E-01 | DirtiDime (DiE) | a bucket |
| 1 | 1.00E+00 | DirtiDollar (DiD) | a truck |
| 10 | 1.00E+01 | DirtiAcre (DAc) | an acre |
| 100 | 1.00E+02 | DirtiSection (DiS) | a section |
| 1,000 | 1.00E+03 | DirtiTown (DiTo) | a township |
| 10,000 | 1.00E+04 | DirtiValley (DiVa) | a valley |
| 100,000 | 1.00E+05 | DirtiMountain (DiMo) | a mountain |
| 1,000,000 | 1.00E+06 | DirtiIsland (Disl) | an island |
| 10,000,000 | 1.00E+07 | DirtiCountry (DiNa) | a country |
| 100,000,000 | 1.00E+08 | DirtiContinent (DiCon) | a continent |
| 1,000,000,000 | 1.00E+09 | DirtiWorld (DiWo) | a world |
| 10,000,000,000 | 1.00E+10 | DirtiSolarSystem (DiSol) | a solar system |
| 100,000,000,000 | 1.00E+11 | DirtiGalaxy (DiG) | a galaxy |
| 1,000,000,000,000 | 1.00E+12 | Dirtiverse (Asimov) | a universe |
