[Cyph0n]

I agree, it's quite risky and can easily be shut down by the authorities if they catch wind of it. I think the simplest way to avoid the risk is to setup a decentralized exchange that connects buyers to sellers. But that means it becomes much more difficult to take a cut, as people will just meet face-to-face.

[Retric]

You would end up with several different exchange rates with TND > BTC quickly hitting ~3x what the 'official' exchange rates suggest. The basic problem is the country does not have enough exports, currency controls simply prop up the currency.

[germanier]

Yes, but why can't you just connect TND sellers and EUR sellers? Why insert all the complexity and risk BTC provides? The end result for both parties would be exactly the same.

[Cyph0n]

The current "low-tech" solution used by Tunisians to transfer money abroad is to get in contact with someone who has a relative living say in France. You give the person living in Tunisia the money, and the relative in France will transfer that same amount to the person of interest.

The key selling point for BTC is that it is completely digital. Think of it this way: if I have TND and would like to buy some EUR, how do I "store" the EUR I get? I only have a Tunisian bank account, so the EUR I receive from say a German account will still be stuck inside Tunisia. And if I receive cash, it won't do me much good. Not to mention the inherent risk involved in doing bank transfers.

But if I use my TND to buy BTC, I can store that BTC in an online wallet, or completely offline. I can easily transfer it to anyone anywhere in the world, or use it buy goods online. The simple act of getting your hands on BTC means that currency controls, transfer fees, etc. are completely circumvented. As for security and accountability, it becomes much easier to control given Bitcoin's digital nature.