Quote from: amincd on May 23, 2011, 09:27:01 PM

I think prices need to go up significantly or else the total amount of bitcoin in circulation won't have a high enough value for them to be used in a significant amount of trade.

If there is only $43 million worth of bitcoin, then millions of people cannot possibly have enough to use in trade. If the value increases to $2 or $3 billion, then what we consider a low value amount of bitcoin now, e.g. 0.01 BTC, will be enough for a substantial trade, and there are enough bitcoins for a large number of people to have at least that much.

Not quite, there will be about 21 Million but that is 1.00 BTC's. The base unit of BTC is 0.00000001. So comparatively, there are 21 Quadrillion base units. Like a $1 is just a 100 pennies, or $10 a 1000 pennies, $100 is 10,000 pennies.

You must look at it from its base unit.

If there was for lack of better words a "stock split" or move the decimal place one place to the right to reduce the price to new comers, I would feel better. But that would reward early adopters by increasing their holding by a factor of 10. However, with the exchange, it might not be that big of an increase.