Tuesday, February 12, 2013

Add quadrillion to the vernacular

A quadrillion is a very cool sounding number.

"Yesterday the Japanese Finance Ministry made a whopper of an announcement: in the year ending March 2013, total Japanese debt will surpass one quadrillion yen, or ¥1,086,000,000,000,000. So prepare to add quadrillion to the vernacular. At this exponential rate of increase quintillion will appear some time in 2015 and so on."
--http://www.zerohedge.com/news/%C2%A51086000000000000-quadrillion-debt-and-rising-and-whythe-%C2%A5-will-soon-be-lost-decade-or-two

In computer terms, a megabyte is one million bytes.  A gigabyte is one billion bytes. A terabyte is one trillion bytes.  What's next?  A Petabyte is one quadrillion bytes.

These no longer seem like impossibly big numbers.  Quadrillions and Petabytes are here.  A trillion dollars here, a trillion dollars there, pretty soon we are talking about real money.  Let's stay away from quintillions for now.

What is the first prime number bigger than 1 quadrillion?  1 quadrillion+37.  That is 1 followed by 13 zeros followed by 37.  It took less than 1 second to calculate.  What is the second one? 1 quadrillion+91.

So, if you accept the premise that the national debt never has to be paid, what does the size matter?  I previously calculated that we will hit the 1 quadrillion dollars in national debt by 2089.  Bring it.  We can handle it.

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See also:  http://jpkoning.blogspot.com/2013/04/the-growing-demand-for-larger-and.html
The DTCC settles over $1 quadrillion of trades each year.

On the smaller side of things, a "mill" is 1/1000 of a dollar.  A "millibit" is one-thousandth of a bitcoin, also known as a "millie".
A "pip" is a term used in foreign exchange and it is equal to 1/10,000 of the dollar or currency unit.  For example, the current value of the Euro in dollars is $1.2848.  It has 4 decimal places.  This is also called a "basis point" or a "bip".
A "drop" is one millionth of a currency unit, and is used only with ripples, a currency similar to bitcoin.  A millionth of a bitcoin is  "microbit", also called a "mickey".
A "satoshi" is one-hundred-millionth of a bitcoin.

In the old British sterling system, there were 20 shillings to the pound, 12 pence to a shilling, and 4 farthings to a penny.  Thus a farthing was 1/960 of a pound.  A "grano", used in Malta, was 1/3 of a farthing or 1/12 of a penny and thus 1/2880 of a pound.

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