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Theoretically, inexpensive international transfer of value (e.g. for citizens of low-wealth countries working abroad sending money back home) Assuming the send
by indigochill 4y ago
Theoretically, inexpensive international transfer of value (e.g. for citizens of low-wealth countries working abroad sending money back home)
Assuming the sender/recipient's countries don't outlaw it or regulate it into parity with traditional banking.
And only really uniquely useful if the sender/recipient doesn't already use the hawala system.
- knorker 4y ago> Assuming the sender/recipient's countries don't outlaw it or regulate it into parity with traditional banking. This raises an obvious question, though: Why would countries NOT regulate it like traditional banking? Notice how customs declarations say "more than $10'000 in money or financial instruments". Countries don't care about money specifically, they care about transfer of monetary instruments. Which means of course they care about BTC for international transfers. Maybe the laws are up to date, and maybe they're not, but it's perfectly clear that the intention of the laws is to include BTC, and it seems extremely likely that eventually they will be harmonized.