I have a question concerning the current high value of a BTC. I talk a lot with friends who don't know much about BTC and try to convince them to buy some too.
When I tell them about it, the same question which always comes up is:
"But since it is so expensive (2000-3000$), how can I afford 1 BTC?"
I always tell them that it is possible to buy 0.5 BTC or even 0.001 BTC. But I think this is a major problem which gets worse with the price rising even higher.
So here is my question:
Are there any plans on changing BTC to make it "look more affordable"? Perhaps introduce something like mBTC (worth 0.001 BTC / 1 BTC = 1000 mBTC) so that people have a better feeling buying something, which is not a number behind a zero (e.g. 0.025).
I don't want it to become something like a "discount looking currency". But it's a psychological problem, that people don't like to buy only a part of something or (as in this case) often don't know that they can buy less than 1 BTC.
To say "Well, the people who don't know better shouldn't buy anyway" seems to be the wrong approach on the way to mass adaption.
This is a topic which comes up again and again and had been discussed several times. And for a good reason I think. You're right that people think Bitcoin is too expensive to buy it. I always answer that it probably will get even more expensive with the coming years.
Furthermore I could imagine we are switching to smaller units regarding the valueation.
For instance if we should hit at least $10k/BTC one day, measuering the price in Bits would definitely make sense imo.
1 Bit = 1 millionth of a Bitcoin = 100 Satoshis = 0.0000001 BTC = 0.01$ or 1 Cent