The mechanics of a speculative currency attack, clearly articulated by @Pierre Rochard ๐
1) Borrow weak currency (fiat)
2) Accumulate strong currency (bitcoin)
3) Let bitcoin appreciate
4) Repay fiat denominated debts
1) Borrow weak currency (fiat)
2) Accumulate strong currency (bitcoin)
3) Let bitcoin appreciate
4) Repay fiat denominated debts