Quote from: BurtW on May 04, 2014, 11:14:20 PM

If you look at my post history on this subject you would find that I mostly thought the idea of any renaming was stupid and not needed.

That is, until I started talking to people and did run into "Bitcoins are way too expensive" over and over again.

Logically it makes no sense but I could sell a boatload of bits at 2500 bits per dollar to the general public and could see the price rising pretty quickly to 1000 bits per dollar over the next few months.

It is not logical but I have come to the conclusion that the general public is not logical when it comes to money.

When introduced to the idea "1 bit = 100 satoshi", without exception, everyone I have talked to has just lit up, understood it and are now running with the idea to all their friends.

That is how you accomplish this. Just do it. Everyone will thank you later.

1 XBT = 1 bit = 100 satoshis

1 BTC = 1000000 XBT = shorthand used in larger transactions

100% agreed with this and D&T's considered opinion too.

While a lot of people like the idea of this change some are concerned about the choice of "bit". The reality is that the simplest terms win out and there is no single term which everyone would like. In practice "bits" would be seen most often, especially while 1 bit is below the dust threshold. Even paying 11,500 bits for a 64-bit cpu chip is not really confusing.