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That is correct. Trendon's whole scheme would have worked if the price of bitcoin had started falling, instead of rising so much.

• javert 13y ago
  No, really, the debt to depositors was owed in bitcoins. Don't know why I'm getting downvoted. It is a fact.
  • joesb 13y ago
    If he convert all bitcoin to USD and bitcoin value went down, he can the previous USD to buy the promised bitcoin and payback.