Basically everything would have to be listed in bits.  Quotes for the price of bitcoin would be in number of bits per dollar.  All our wallets would switch to bits and all prices you see would be shown in bits.

I don't understand why people are getting so bent out of shape about the use of the term bits.  I believe the non vocal majority love the idea of bits, but no matter how good an idea is there's going to be people who fight against change.