To whom do they sell the IOUs? There's a limited number of Bitcoin in existence, and with each one you buy (issuing an IOU in return), the price goes up and pe

To whom do they sell the IOUs? There's a limited number of Bitcoin in existence, and with each one you buy (issuing an IOU in return), the price goes up and people doubt your ability to pay back more and more. This is almost exactly what's happening with Puerto Rico's debt crisis [1]. They've sold a bunch of bonds, were downgraded to "junk status" in 2014, and then defaulted on a bunch of them in 2015. Eventually you have to face the music and cannot borrow any more. [1] https://en.wikipedia.org/wiki/Puerto_Rican_government-debt_crisis https://en.wikipedia.org/wiki/Puerto_Rican_government-debt_c...