Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
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Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
#2”Hosseini said that each tanker must email authorities about its cargo, after which Iran will inform them of the toll to be paid in digital currencies.
“He said that the tariff is $1 per barrel of oil, adding that empty tankers can pass freely.
“‘Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in bitcoin, ensuring they can’t be traced or confiscated due to sanctions,’ Hosseini added.”
Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
#3I think this war will be the moment that historians mark as the death of Pax Americana. The US failed to change the Iranian regime, failed to open the strait, and now a previously international waterway will be tolled in a currency other than the dollar.
I wish it need not have happened in my time
Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
#4I think this war will be the moment that historians mark as the death of Pax Americana. The US failed to change the Iranian regime, failed to open the strait, and now a previously international waterway will be tolled in a currency other than the dollar. I wish it need not have happened in my time
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Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
#5Pretty crazy for countries to demand Bitcoin that has no clear plans for quantum. Not to mention security budget issues.
Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
#6I was under the impression that they were asking for payment in stablecoins, not bitcoin? Did they change their mind?
Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
#7Pretty crazy for countries to demand Bitcoin that has no clear plans for quantum. Not to mention security budget issues.
It’s not like Iran plans to keep the Bitcoin. It’s just a way around sanctions.
Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
#8”Hosseini said that each tanker must email authorities about its cargo, after which Iran will inform them of the toll to be paid in digital currencies. “He said that the tariff is $1 per barrel of oil, adding that empty tankers can pass freely. “‘Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in bitcoin, ensuring they can’t be traced or confiscated due to sanctions,’…
So apart from all the geopolitics of it this line is interesting
"few seconds to pay in bitcoin, ensuring they can’t be traced or confiscated due to sanctions,’ Hosseini added"
Maybe I'm ignorant of Bitcoin but isn't Bitcoin transactions recorded in a public cryptographically signed ledger? Isn't that literally the opposite of "can't be traced"?
Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
#9”Hosseini said that each tanker must email authorities about its cargo, after which Iran will inform them of the toll to be paid in digital currencies. “He said that the tariff is $1 per barrel of oil, adding that empty tankers can pass freely. “‘Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in bitcoin, ensuring they can’t be traced or confiscated due to sanctions,’…
As bitcoin is quite traceable I don't see how this works if you're trying to avoid sanctions. For Iran it probably doesn't matter but for the vessel owners it probably does.
Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire
#10Finally, the Real World use case for Bitcoin!