Lets say we buy bitcoin and other altcoins, when it comes to exchanging for lets say restaurant, hospital, electric bills,
would we have to pay 1 bitcoin or fraction of it to purchase? Lets say a hospital bill now cost $1000, how would they decide
how much to pay in bitcoin? would it be based on dollar?
Yes every merchant payment received based on USD. It doesn't matter you pay with Bitcoin or any other alts , Bill count as per USD currency.