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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

#31

Post by GJim »

OutOfHere wrote: post #25
FeloniousHam wrote: post #10

Finally, the Real World use case for Bitcoin!

Cryptocurrency has had many legal real world uses cases. It is used heavily in prediction markets. Serving as an inflation-resistant store of value that is orthogonal to gold also is an implicit real world use case. Permissionless and easy international transfer of funds between individuals has been the biggest real world use. It's not only for collecting and trading. Obviously, those wanting to suppress it will keep…

I confess I'm not entirely sure if this is satire or if you are a true believer. Well done!

Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire

#32

Post by staplers »

pokstad wrote: post #24
FeloniousHam wrote: post #10

Finally, the Real World use case for Bitcoin!

Ransomware payments, speculative trading, now paying off oil pirates!

Things that have never happened with USD. Glad we have a truly clean pure money that is incorruptible unlike bitcoin.

Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire

#33

Post by ivell »

pokstad wrote: post #28
GeoPolAlt wrote: post #3

I 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

TBF, Iran is saying an exorbitant price right now, but in reality they will need to balance their price with demand to bring in the maximum possible revenue. The toll may work out in the long run.

I think the price can only increase. There is not much competition for Hormuz. If it is exorbitant now, it can only be more expensive later on. The demand for oil is not going to go down drastically for quite a few years.

If there was another route, the oil would have found the way.

Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire

#34

Post by vunderba »

wongarsu wrote: post #6

I was under the impression that they were asking for payment in stablecoins, not bitcoin? Did they change their mind?

I’ve heard a lot of discussion about them accepting payments in Chinese yuan. I wonder if there’s a stablecoin pegged to it.

Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire

#35

Post by keybored »

GeoPolAlt wrote: post #3

I 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

I think it’s weird that you imply that it is because the American regime failed to change the Iranian regime. They (lead by Israel or not) illegally invaded a country.

It’s just Pax for those parts of the world that America and its allies are not invading (and other non-allied examples like Russia invading Ukraine).

But a typical top-comment about how America Did a Bad Thing Which Ruined The Good American-lead Times.

Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire

#36

Post by thatguy0900 »

OutOfHere wrote: post #29
pokstad wrote: post #24

Earlier quoted context omitted.

Ransomware payments, speculative trading, now paying off oil pirates!

I am afraid that soon, actual sea pirates, e.g. in Central and South America, Africa, etc. will start using naval mines in their regional seas, demanding crypto payment from passing ships.

I'm not sure most people have the strength of conviction in their God to stare down the us navy like Iran does.

Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire

#37

Post by [deleted] »

palata wrote: post #17
deltoidmaximus wrote: post #9

Earlier quoted context omitted.

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.

Agreed, but I wonder it if matters in practice. It's not like one can boycott bitcoins by serial number or something, is it?

[deleted]

Re: Iran demands Bitcoin fees for ships passing Hormuz during ceasefire

#40

Post by OutOfHere »

thatguy0900 wrote: post #36
OutOfHere wrote: post #29

Earlier quoted context omitted.

I am afraid that soon, actual sea pirates, e.g. in Central and South America, Africa, etc. will start using naval mines in their regional seas, demanding crypto payment from passing ships.

I'm not sure most people have the strength of conviction in their God to stare down the us navy like Iran does.

It doesn't have to be a US Navy ship that they target. They could target anyone else. The mines are intelligent in who they target.
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