I actually think this idea doesn't go far enough. We should switch to microbitcoins (0.000001 BTC = 1 uBTC = 100 Satoshi) as the basic unit (equivalent of the dollar, pound or euro) as soon as possible.
21 million basic units isn't psychologically enough for a global currency. 21 billion is better. But 21
trillion is even better as we start talking about the GDPs/deficits/QE programs of very sizeable countries in terms of 'trillions' of currency units.
Which naturally begs the question, why not go the whole hog and make the satoshi the basic unit? Well, we're all accustomed to having our basic currency unit divisible into 100 cents or pence. So this way we think of a satoshi as equivalent to a cent, a microbitcoin as equivalent to a 'bitdollar'. And a whole bitcoin is a million 'bitdollars'. Anyone who has a whole bitcoin is a millionaire.
That might seem a little ludicrous NOW, It'll mean a 'bitdollar' is currently only worth 0.01 'real' (
) cents, and you need maybe 100,000 bitdollars to buy a decent pizza. But it will help to highlight even more how bitcoins are a store of value, and your bitdollars are only going to get more valuable with time. And if you currently have a whole bitcoin, you SHOULD think of yourself as a millionaire IMO. You may not be right now, but give it maybe 20 years.
Anyway I currently have around 200 million bitdollars worth of assets - some actual bitdollars, some as ASICminer stock. I'm going to be a millionaire soon. And so are most of you.
+1
But we don't need a cheasy name like bitdollar...
100 satoshis = 1 Bitcoin , 1 satoshi = well still 1 satoshi but also a bitcoin cent to help non geeks to adapt easier...
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