On Mon, Oct 05, 2015 at 05:19:06PM -0700, Mark Friedenbach via bitcoin-dev 
> Alex, decreasing granularity is a soft-fork, increasing is a hard-fork.
> Therefore I've kept the highest possible precision (1 second, 1 block) with
> the expectation that at some point in the future if we need more low-order
> bits we can soft-fork them to other purposes, we can decrease granularity
> at that time.

You should write that up in the BIP, along with a description of how
exactly that would go; I suspect the most obvious way of dong that
upgrade - just increase precision for everyone - would break
compatbility too much to be practical.


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