hlynur
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July 04, 2013, 08:14:26 PM


doesn't quite fit the subject, but however i have to throw in that article
as it's a very interesting read about Hawala - an old method for trading money (that roots back to the eighth century)

http://mkshft.org/2013/07/thin-wire



Imagine entities that wished to move large value assets over borders without declaration or taxation. They convert it to bitcoin from A then sell it in B. If the local bitcoin market place becomes robust enough, this could be performed at a cloud type level.
jep, it seemed to me like a human peer-to-peer financial system when i read that article.
that's still the big question mark for me how authorities would react if this becomes more common.
right now authorities in europe try to get more hold of  tax evasion (like in suisse, luxembourg or liechtenstein). at some point btc will be adapted for such procedures when people need new possiblities for avoiding taxes or laundering money .