Debts denominated in bitcoins
That is indeed what that author is implying, though I think his conclusion is wrong. Any good currency will increase in value over time, or ideally the money supply will increase at the same rate wealth is added to society, which would imply its value remains constant. 

This is distinctly different for instance then the USD which is intentionally being rapidly inflated by the Federal Reserves quantitate easing policy. 

Bitcoin does not match the rate of wealth creation, and coins become more difficult over time to acquire, but the same is true of gold and people have been paying debts in gold for centuries. Perhaps its a good thing to be a little foolish.