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I have an actual real-life case study that supports this. I know someone who is currently outsourcing development to Argentina (close time zone, technical population and he gets to practice his spanish).

His current method of paying them is to pay a US residing relative of theirs who is basically holding the money as a stateside retirement account for the Argentinians.

He offered over a year ago to start paying them in BTC so that they could actually spend they money he was paying them (for which I'm sure they are kicking themselves for turning down now).

So while there are all sorts of issues with BTC in terms of liquidity, exchange and security its probably a mark of how bad it is in Argentina that BTC looks sane and stable in comparison.




One of the simple ways to solve the payment issue is to open an LLC in USA, receive the payments in a US bank account and transfer the money via a "cueva" (cave).

There are legal ways also, you can find the details in the Globant's SEC filling: https://www.sec.gov/Archives/edgar/data/1557860/000114420413...

In that way you can buy and sell dollars using the black market currency in a legal way.


tl;dr

Buy USD-denominated Argentine government bonds in the USA (or have your customer do that). Sell the bonds in Argentina, getting more pesos than you would have through the normal mechanism.




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