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In cryptsy, I see that one 42coin is trading at >900 BTC. Just wondering what is 42coin and why it is highly priced?

  • 42 42coins with 14 digits precision and 21 million bitcoins with 8 digit precision; both technically same amount of subdivisible units. – vi.su. Feb 4 '14 at 2:43
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    @vi.su. Er, no: 42*10^14 / 21*10^6*10^8 = 2 in my good ol' rusty calculator. So total amount of 42coin's lowest denomination pieces (what would be a good word for it? babelfishies??) is exactly double that of bitcoin's lower denomination – Joe Pineda Feb 4 '14 at 6:09
  • Yeah, half. No of total coins usually doesn't matter, as long are they're constant. What matters is, total coins available to buy / sell, in an exchange or, other markets. – vi.su. Feb 6 '14 at 1:21
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A new crypto-coin, scrypt based, which produces blocks every 42 seconds (each of which yield just 42 millionths of the currency, except for every 420th which yields x10) and for which there will be no more than 42 coins in existence. Yes, that's right, only 42 "42coins" will ever exist! That takes Bitcoin's hard limit of 21 million to the extreme, of course.

For what I've read, it's a half-joke based off the novel "The Hitchhiker's guide to the Galaxy", wherein it's stated that number 42 is the answer to the "ultimate question about God, life, the Universe and everything else" - such a question that we humans are just too dumb to fully understand, much less grasp the implications of the answer :)

Official page

Official forum, with links to pools

What amazes me is how a coin with no virtually no use appart from speculation has commanded such a high prize - it's HUNDREDS of times more valuable than a bitcoin itself! And yet, according to coinwarz, it's not all that profitable (probably because of the block's ultra-low yield).

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    Party's over, 350 bitcoins per 42coin and still going down, though the curve is less steep now - seems to be approaching asymptotically 250BTC. Cheers to those who managed to profit from the while ride while it lasted! – Joe Pineda Jan 21 '14 at 2:01
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Just found this useful link about it: http://www.businessinsider.com/introducing-42coin-2014-1

We're looking for long answers that provide some explanation and context. Don't just give a one-line answer; explain why your answer is right, ideally with citations. Answers that don't include explanations may be removed.

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    While this link may answer the question, please provide context, as the answer would become useless if the link should stop working. – Murch Jan 17 '14 at 1:23
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A better measure is what the market cap of a cryptocoin is. E.g. if there are a billion coins worth 1 cent each, you've got $10M worth of coins. On the other hand, if there are 10 coins worth $10,000 each, you've got $100,000 worth of coins. It's easy to see that the former Coin is worth far more than the latter, even though the price per coin is very different.

So even though 42 Coin easily takes the cake on the "price per coin" list, it has such an insignificant market cap that it's really not an important coin.

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I'm not sure about the market depth before, but at the moment it seems like only one entity is making the market:

https://www.cryptocoincharts.info/v2/pair/42/btc/cryptsy/alltime

Notice the amount at each price at the bid and offers.

protected by Community Dec 13 '18 at 12:36

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