Quote from: mmitech on October 10, 2014, 02:45:43 PM

Quote from: Biodom on October 08, 2014, 02:22:21 AM

Bitcoin is about to undergo a 1:1000000 "stock" split.
essentially, they want a base unit and a second unit being 1:100 of the first.
https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/
We already have two units: bitcoin and satoshi
Therefore, the only way to make this possible would be to recalculate bitcoin as 100 satoshi (deep inside everything is measured in satoshis anyway).
So, everyone with a current BTC will suddenly discover that he or she will have 1000000 bitcoins (officially called XBT from then on).
I think that this will put new bitcoin/XBT on a path that will eventually lead to XBT=~$1 with each satoshi=~1c.
How long it might take-maybe 20 years. If this happens, current BTC would equal $1,000,000

This could have a double effect, it could boost the price and make dealing with Bitcoin easier, but it also could be a big confusion and slow adoption for a really simple reason, while we were talking for 5 years about only 21 million BTC to exist, people will be surprised about Trillions of XBT (which they don't get in the first place).

Maybe, but only a small % of the population was exposed to 21 mil number and I heard Allaire (Circle) publicly referring to 2.1 quadrillion units, which are, of course, satoshi, so some were talking about it. When i recently went to look at one house, and asked about the price, the realtor simply said 'about 7', which, based on location and my knowledge of the neighborhood, I immediately translated as '700000'. I don't know why he was so coy about it and not say 700K or seven hundred thou.
My point is use will determine, but nobody except early adopters would be reluctant because of 21 mil BTC vs 21 tril XBT, especially since some of them are already exposed to tril in GDP and budget numbers.