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Replying to Avatar Lyn Alden

Currently chilling at a cafe at midnight in some Red Sea coastal town five hours south of Cairo.

A doctor from Syria recognizes me and comes to talk. He is briefly here in Egypt but works in Syria treating people.

He and his colleagues use the informal Hawala system to move money for legitimate purposes, because Syria is sanctioned by the US. The Hawala system is ancient, stretching back to the medieval Silk Road and prior, but is still used today in many regions. He’s a fan of Bitcoin obviously.

So many people in the developed world take money for granted. But people in developing regions or conflict regions often have a better appreciation of permissionless money, undebaseable money, etc.

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PloyScout 1y ago

You would think that a system as trust-demanding and archaic as the Hawala would have perished entirely by now. Perhaps the fact that it still exists to any extent today suggests how difficult it is to fully comprehend how bad the modern fiat system actually is.

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frphank 1y ago

It suggests how well a trust based system works.

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