I know this discussion has been here before, but I think it is an issue that is more pressing then ever now with the new bitcoin prices. I think we should no longer deal in BTC, but in mBTC.
A notable initiative is to reserve an ISO code (like EUR, USD) for Bitcoin. BTC is apparently taken, but introducing XBT as a unit equal to 100 Satoshis seem to find support,
especially since it allows representation of Bitcoin in legacy financial systems (accounting, book keeping etc that can only deal with 1/100 precision of a currency)
See vote and reasoning and discussion in:
https://bitcointalk.org/index.php?topic=149150.msg1630511https://bitcointalk.org/index.php?topic=149150.msg1630511#msg1630511I think mBTC and uBTC are rather engineer type solutions, alien to mainstream user whereas the XBT would foster adoption and open Bitcoin to legacy systems.