Quote from: Sukrim on July 04, 2011, 11:48:19 PM

People in the market section of this forum seem to (even with ~15 USD/BTC) stick to "even" prices, like 2 BTC or 1.50 BTC, even though it would make more sense to sometimes charge 1.869 or 1.507 BTC. Because of this I would also support the move to millibitcoins as used currency (21 million "full" BTC is an absurdely low number anyways to begin with and nearly every FAQ states that BTC can and will be divided in the future!). The future is now, let's move forward and move to mBitcoins to make sure prices are more accurate again.

Some other examples:
Nintendo Points
Microsoft xBox Points
Linden"Dollars"
WoW Gold (not actually sold by Blizzard, but anyways...)
and a multitude of other "internet/online/virtual" currencies are all worth (far) less than 1 USD for exactly this reason. A lot of them are not even splittable and have to be spent in the 100s to get a game or buy some virtual something.

For most of it's time, bitcoin was the same (the 10.000 BTC pizza was overpaid at it's time!) now it's no longer for just 2-3 months. Time to move the decimal back 3 or even 6 places (there would still be 2 places left for µBTC-cents in the current spec then, probably exactly for this reason!) and call the total amount of Bitcoin 21 Billion or Trillion.

I quite agree Sukrim.

Personally, I think that no movement of the decimal makes Bitcoin look too expensive and a movement too far back makes it look ridiculous. This is very much psychology/perception that we are dealing with - and that is extremely important.

I believe, at this juncture, 3 decimal places makes the most sense. It suggests a very psychologically affordable buy-in for the average person. And it also reduces the angst for those who may feel threatened by a currency that has become "too powerful".

Bitcoin needs this time to breath and grow stronger. A three decimal place shift will facilitate more popular interest while (hopefully) dropping back down to a 'DEFCON 4 or 5' on the gubberments radar.