Plan to deploy new NSR denomination

Some time ago NuShare holders passed a motion to redenominate NuShares so that 10,000 today become 1 NuShare. This would mean the quantity of NSR you would need to mint would be 1. NSR would have a price of $1.50 or 0.0012 BTC. One of the main benefits of this is to increase the granularity of the NSR price and to decrease the size of the NSR trading spread. When the price of NSR is 12 satoshis, the minimum spread is 8%. That is a problem.

So, the question before us is what is they best way to implement and roll out the redenomination? I would like to make a proposal, which needs community comment, especially from @sigmike. There are some issues surrounding how and when partners will make the switch that need to be discussed and thought through still.

Seems like an inexpensive, smooth and safe transition could be completed with two simple steps. In the first, we release a version of the Nu client that makes using the new denomination optional. At that point, we try encourage everyone, particularly Poloniex, to adopt the new denomination. Once the network has effectively switched, the next client version can use the new denomination as the default or the required setting.

There are some details to work out, but I wanted to get the conversation started. It will make NuShares more appealing once we complete the change.