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If debts are denominated in dollars, do you know how it will be determined how many Bitcoin would suffice for repayment (and vice versa)?
by mandelbrotwurst 5y ago
If debts are denominated in dollars, do you know how it will be determined how many Bitcoin would suffice for repayment (and vice versa)?
- TimJRobinson 5y agoThey're going to have a reserve fund of BTC / USD to make exchanging easy, and I'd assume that will have a rate that most merchants use.
- londons_explore 5y agoWill $150million USD be a big enough reserve? Assuming anyone can exchange against that, I can imagine that being wiped out in just a few hours of a bitcoin whale deciding they want to cash out...
- nly 5y agoThey can control the spread on exchanging against their reserve
- el-salvador 5y agoWe have not received much information, but from what I understand, the accounting currency would continue to be the USD.