Quote from: jgarzik on March 22, 2011, 08:31:52 PM

Quote from: Dai on March 22, 2011, 08:07:01 PM

I just can't see bitcoin taking off in a big way, when it is capped at 21 million. Imagine 21 million divided between the facebook population (lets leave country and nationality out of it) 500 million or half a billion users . That's not a lot of bitcoins to go round, it won't buy you a lot.

This is a FAQ (or "FMC", frequently misunderstood concept?).

1) Bitcoins can be divided into millionths of a bitcoin, leaving plenty for everyone on Earth.

2) "it won't buy you a lot" There is no economic reason why 0.000001 BTC cannot be worth $1,000 USD. It is entirely supply and demand.

Where you place the decimal is completely irrelevant.

Exactly, when I was in Romania they went from the old lei to the new lei. It was something like 29000 to 1usd and they just cut 4 digits off and called it 2.9 new lei to the usd.
You could pay with things in new or old lei and it was easy to figure out. It would be the same thing with btc. Just move the decimal over. You and everyone else would have the same value at the end of the day that they did at breakfast.