At the risk of a "flame war" where there are no winners, I would like to comment on some the statements here before they get stale. If we avoid ad hominem attacks and stick to the math, the claims, and counterexamples, this can be a useful scientific discussion and I very much welcome all the criticism of my ideas.

The irreproducibility of IEEE 754 float calculations is well documented... on Wikipedia, by William Kahan, and in an excellent paper by David Monniaux titled "The pitfalls of floating-point computations". It is amazing that this is tolerated, but IEEE 754 has done a great deal to lower the expectations of computer users regarding mathematically correct behavior.

The posit approach is not merely a format but also the Draft Standard. Whereas floats can arbitrarily use "guard bits" to covertly do calculations with greater accuracy, the posit standard rules that out. Whereas the float standard recommends that math functions like log(x), cos(x) etc. be correctly rounded, the draft posit standard mandates that they be correctly rounded (or else they have to use a function name that clarifies that they are not the correctly-rounded function). By the draft posit standard, you cannot do anything not specified in the source code (like noticing that a multiply and an add could be fused into a multiply-add with deferred rounding, so calling fused multiply-add without telling anyone). The source code completely defines what the result will be, bitwise, or it is not posit-compliant. It cannot depend on internal processor flags, optimization levels, or special hardware with guard bits to improve accuracy; this is what corrupted the IEEE 754 Standard and made it an irreproduci ble environment to this day.

The claim that posits is a "drop-in" replacement for floating point needs a lot of clarification, and this is unfortunately left out of much of the coverage of the ida. Clearly, if an algorithm assigns a hexadecimal value to encode a real value, that will need work to port from IEEE floats to posits. The math libraries need to be rewritten, as well as scanf and printf in C and their equivalent for other languages. However, a number of researchers have found that they can substituted a posit representation for a float representation of the same size, and they get more accurate results with the same number of bits. I call that "plug-and-play" replacement; yes, there are a multitude of side effects that might need to be managed, but it's nothing like the jarring change, say, of moving from serial execution to parallel execution. It's really pretty easy, and it's easy to build tools that catch the 'gotcha' cases.

Some here have suggested the use of rational number representation, or said that there are redundant binary representations of the same numerical value. Unlike floats, posits do not have redundancy. I suspect someone is confused by the Morris approach to adjusting the tradeoff between fraction bits and exponent bits, which produces many redundant wa6s to express the same mathematical value.

Perfect additive associativity is available, as an option, with the quire. If needed. Multiplicative associativity is available, as an option, by calling fused multiply-multiply in the draft posit standard. Because quire operations appear to be both faster (free of renormalization and rounding) and more accurate (exact until converted back to posit form), I am puzzled regarding why anyone would want to do things more slowly and with less accuracy.

Kulisch blazed the way with his exact dot product; unfortunately, any exact dot product based on IEEE floats will have an accumulator with far too many bits (like 4,224 for IEEEE double precision) and an accumulator that is just a bit larger than a power-of-two size. The "quire" of posits is always a power-of-two, much more hardware-friendly. It's 128 bits for 16-bit posits, and 512 bits for 32-bit posits, the width of a cache line on x86, or a an AVX-512 instruction.

"A little knowledge is a dangerous thing." In evaluating posit arithmetic, please use more than what you see in a ycombinator blog. You might discover that there are several decades of careful decision-making behind the design of posit arithmetic. And unlike Kahan, I subject my ideas to critical review by the community and learn from their input. The 1985 IEEE format is grossly overdue for a change.