> There is still no legitimate use of bitcoin beyond niche markets and speculation
You are making me laugh about your ignorance, sorry for my pedantry but... if my company in Argentina receives an international wire transfer from a customer in my HSBC account, it will be less money than if I receive the Bitcoins and exchange it via https://bitex.la/ , and deposit it to the same HSBC account. Both process follow all the tax regulations and are legal.
Currency pairs have the same counterparty and volatility risk - it is solved with hedges and other derivatives
There is nothing inherent in bitcoin to differentiate it from other currencies that doesn’t allow the same derivative infrastructure to be built out and offered (it already is)
I've done this all personally many times and it is the cheapest way to exchange a couple thousand dollars worth of fiat cross-border (I usually made a profit, even).
You have to hold bitcoin on the destination exchange and then buy and sell in the US and on the foreign exchange simultaneously. If you're worried about the price risk for the bitcoin you're holding, you can open a corresponding short position to hedge.
You are making me laugh about your ignorance, sorry for my pedantry but... if my company in Argentina receives an international wire transfer from a customer in my HSBC account, it will be less money than if I receive the Bitcoins and exchange it via https://bitex.la/ , and deposit it to the same HSBC account. Both process follow all the tax regulations and are legal.