with 21 million bitcoins to split up among 7 billion people, it is safe to say that most people will never own or use a full bitcoin. in march of this year, the attempt to popularize milli-bitcoin was largely unsuccessful for various reasons.
i propose we rename sub-dinominations of bitcoins to “bitcoin dollar,” “bitcoin cent,” and “satoshi.”
1. since the dollar is the world reserve currency, dollars and cents should be most familiar with people around the world in the sense that the words “dollar” and “cent” are already on the tips of people’s tongues.
2. a small fraction of a pie is not particularly appetizing… so the idea of a thousandth or millionth of a bitcoin to people is like the idea of breaking up a delicious apple pie into crumbs and saying that since that apple pie is worth 1000 apple pies, then a piece of crumb from that pie would be equality as filling and satisfying to eat as a single slice of pie. not gonna happen…
http://www.shonblog.com/wp-content/uploads/bitcoin.jpg1 bitcoin = 1000 bitcoin dollar
1 bitcoin dollar = 100 bitcoin cent
1 bitcoin cent = 1000 satoshi
the conversion ratio may be a bit confusing at first, but i believe people will pick it up rather quickly.