In my opinion the best solution now is to rename the mBTC in BTC.
Our current BTC will become kBTC. People who hoard 1 Bitcoin now, will have 1000 Bitcoin after the redenomination and there will be 21 bilion bitcoins around.
Bits could still be used as of 1/1000 BTC, it is simpler to convert than 1/1.000.000.
Think about it. With the price of 0.62 $ per btc many people will now invest in bitcoin, because they will have the feeling of hoarding a lot of them. A lot of friends told me they didn't want to invest in bitcoin because it is too expensive, they do not want to buy just a fraction of it, feels like nothing to them.
If with 50 $ they will be able to buy nearly 100 bitcoins, they will feel much better.
What do you think?
Can we maybe not change BTC into it's smaller denominations? If exchanges start doing that, prices will drop like a rock, and the media will screw us around saying that it was inflated, not safe, etc.
There is no problem! It is VERY easy once you see what they are, and if you have to, print out a copy of the denominations and such!
There was a thread about this, just go look.
And buying 100 Bitcoins with $50 will definitely make Bitcoin look unsafe, regardless what you do. Good luck trying to convince people otherwise.
Plus, the limit SIMPLY WILL NOT ALLOW FOR 21 BILLION! That is like saying 0.1 is a bitcoin, and thus why is there still a "ones" and why is it divisible only to 7 places?
If ANYONE does this, I'm selling all my Bitcoin. The price will plummet because someone didn't do their stuff right and screwed up how Bitcoin is viewed.
We don't care about your big numbers. Live with smaller denominations.
