Well, payments can still be made in BTC to each person - it's easier, publicly auditable, and I'm guessing everyone prefers BTC. What I meant is that the value of the debt should be kept in USD. (Eg: If shakaru paid 10 BTC just now, he now owes $47.50 less).
i disagree. you can't generalise and say he owes $47.50 less, when some debts (maybe only mine) are BTC only.
imsaguy would have to make a call on the distribution of the 10 BTC first, and then say for example he owes me 1 BTC less and everyone else $4 less or whatever it works out to be.
Yes, of course, if you and shakaru agreed to fix the debt amount in BTC, that would work too. Incoming BTC can be distributed by converting all USD-denominated debts to BTC amounts at spot price and then distributing the new BTC proportionately. There will also be strange effects, like if BTC goes up, you'll get paid higher proportions, and if BTC goes down, the USD debts will get paid faster.
But this is definitely risky for shakaru if BTC goes up in value.