If the committee to create debt positions, from past experience, we simply don't know what price is safe. When OMO was buying BTS at 1.05 CNY, people didn't think there would be a day BTS price could fall to 0.22 CNY. Personally I don't want to take the same risk again.
The current issue is:
* BBF wants to pay bitCNY to workers according to the terms defined in the workers, the biggest part is for the core dev worker.
* BBF now has only BTS.
* BBF doesn't want to sell BTS directly to the market for bitCNY now, because the continuous selling done before lead to criticisms, BBF wants to mitigate the criticisms.
The obvious solution for BBF is to pay BTS directly to the workers if the workers accept BTS. AFAIK all the core team members agree to be paid in BTS under certain conditions, E.G. got paid soon enough after issued an invoice to avoid taxing issues.
It seems BBF didn't accept this solution.
By the way, IMHO the predefined terms -- paying out bitCNY -- don't make much sense if the people getting bitCNY don't know how to efficiently use it, because bitCNY is actually not convenient enough for most of people working for the workers, because most of them don't live in China so bitCNY even fiat CNY is useless for them.
* The most common path for them to exchange bitCNY to local fiat for daily expense is to buy BTS with bitCNY in DEX then sell BTS for BTC in CEX's, then sell BTC for fiat; the step selling BTS for BTC would suppress BTS price and lead to margin calls in the DEX which led to criticisms. The question is, if people got bitCNY, they always sell for BTS, why not give them BTS in the first place?
* An option is to buy an IOU BTC (e.g. OPEN.BTC, GDEX.BTC or etc) with bitCNY in the DEX, but the market depths are low.
* Another option is to exchange bitCNY to BTC via blocktrades, but exchange rate provided by blocktrades is usually worse.
* Actually there is another good path: selling bitCNY for QC in zb.cn at almost 1:1, they buy BTC or whatever with QC there. This won't affect BTS price in CEX. But not many people know this.