There's increasingly adoption of this unit [bits] everywhere from what I've been seeing.
Yesterday you could get 2200 bits for a dollar, today you can only get 2050 bits.
My hardware vendor says you can get a lot more bits for one dollar. The word is already taken. I agree with Danny, I will stick with what people actually use and where I live, I never heard "bit" for bitcoin.
Overloading terms is very common in English. I'm not so sure about other languages. With native English speakers, I'm not the least bit worried that context will be insufficient to make obvious the type of "bit" being discussed.
I do think the psychological effect of "wow, I bought 40,000 bits for $20" will be beneficial to the exchange price. It's semantics, but, I think it'll make a difference.
Agreed.
BTC1 = 1,000,000 bits
Simple.