It occurs to me that at the current rate of BTC to US $ growth, it could feasibly be 1 BTC = $1,000 USD in 6-7 months time. I don't know that that
will happen, but if it does, wouldn't the sticker shock of paying so much really push people away from joining the bitcoin community? In the stock market world, a few elite stocks are happy trading in the $1,000+ range, but most try to keep below $100, so the "common man" can choose to buy in. I realize that "all that has to happen is to move the decimal", but does that need to happen now rather than later? Perhaps a mechanism to scale terminology automatically based on the number of connected clients?
It seems that we are already at a place were 1 bit-dime (.1 BTC) is perfect for a $1.50 USD micro-transaction, but if things keep up, we will quickly be going out 3 or 4 decimal places for a single small transaction.
In short, it seems like bitcoin's biggest lack(though in some ways a strength) is denominations, so people can more easily trade/spend them until the value stabilizes.
If there are changes in the works, apologies from the newbie
. If not, it seemed like a topic worth discussing.
