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Iran starts Bitcoin-backed ship insurance for Hormuz strait

bloomberg.com

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Re: Iran starts Bitcoin-backed ship insurance for Hormuz strait

#121

Post by ImPostingOnHN »

Jensson wrote: post #108
srean wrote: post #98

Earlier quoted context omitted.

Trump's tweets gave a clear indication of what's coming their way next.

Yes, USA will bomb Iran, so how did blocking the strait help them?

Well, first of all, the USA already bombed Iran, so closing the strait is an effect, not a cause.

Second of all, it's also more likely the USA will back down as a result of widespread disapproval, than it is that USA will effectuate a full ground invasion (which would result in heavy losses).

Whereas if they had complied with the don's demand that they be a vassal state of the USA and israel, they would not be a sovereign country anymore.

This isn't exactly abnormal: for a USA analogue, look at Patrick Henry's comments on liberty.

Re: Iran starts Bitcoin-backed ship insurance for Hormuz strait

#122

Post by _DeadFred_ »

asdff wrote: post #106
everdrive wrote: post #20

Much of the post-WW2 American-led world order was founded partially on the United States using its military to keep international waters open. It would be quite stunning Iran defeated the united states in this sense. The military might is there, but this administration clearly had no idea what they were getting themselves into and did not plan accordingly. (and does not have the will or public support to do so) The b…

Seems like piracy is more about the land than the sea. I can't think of any major american military action against piracy aside from actions against somali terrorists. Seems piracy as it was known historically died out as the old historic pirate havens of say Tortuga or Outer Banks went from places of anarchy to places that were controlled by some government in some capacity. And that is exactly where we see the soma…

I mean that is ignoring the American military experience with Islamic pirates and Islamic slavers.

https://en.wikipedia.org/wiki/Barbary_corsairs

Re: Iran starts Bitcoin-backed ship insurance for Hormuz strait

#123

Post by statguy »

LorenPechtel wrote: post #88
nerfbatplz wrote: post #48

Earlier quoted context omitted.

Ironically the US has never ratified UNCLOS. The American professed interest in maintaining right of passage does not appear to require them to be held to the same standards. Also the Strait of Hormuz is an international strait not international waters. The entire strait lies within Iranian and Omani waters. Frankly it's a bit absurd to complain that your ships can't transit a country's waters while you bomb them.

The original ship channel was in Omani waters, not Iranian. It is entirely unreasonable to consider it reasonable for Iran to mine Omani waters.

It is reasonable for Iran to do things that hurt the US (and the world) when the US hurts them.

Re: Iran starts Bitcoin-backed ship insurance for Hormuz strait

#125

Post by _DeadFred_ »

kakacik wrote: post #112
deadeye wrote: post #100

Earlier quoted context omitted.

Or is it posible this administration just took a win-win-win position? 1 - US oil and gas companies make money as oil proces rise. The US is the largest producer in the world. 2 - China loses it's major source of oil and gas. 3 - Iran gets neutralized. It may not look like it now, but it will probably end up that way.

3 - Iran moderates are neutralized, so hardcore fanatics from IRGC take over. Loss for literally everybody. Otherwise, 1) and 2) are true, Europe is bleeding through the nose with buying US oil and depending on its current antagonist, not smart long term situation that we need to move away asap. Somebody in US government is making literal billions on shorts and various trade deals just before major announcements keep…

[flagged]

Re: Iran starts Bitcoin-backed ship insurance for Hormuz strait

#126

Post by LorenPechtel »

mrandish wrote: post #21

I guess I'm just surprised they even bother trying to mask an obvious shake down under the euphemism "insurance" when it's such a trope. Obligatory Sopranos clip of old school mobsters trying to sell "protective insurance" to a Starbucks: https://www.youtube.com/watch?v=_Gsz7Gu6agA

It lets people not look up. And given the slightest opportunity an awful lot of people will take the don't look up answer.

Re: Iran starts Bitcoin-backed ship insurance for Hormuz strait

#127

Post by throwaway27448 »

FireBeyond wrote: post #102
Pay08 wrote: post #84

Earlier quoted context omitted.

No, the Strait is international waters and always have been.

The Strait may well have some, but the traffic separation scheme for shipping is absolutely in Omani territorial waters, and another part of traversing the Strait includes passing through Iranian territorial waters.

Ok, so just de facto iranian.

However, I believe Oman also collects fees. So in practice the distinction wrt shipping is moot

Re: Iran starts Bitcoin-backed ship insurance for Hormuz strait

#129

Post by _DeadFred_ »

kakacik wrote: post #113
Jensson wrote: post #63

Earlier quoted context omitted.

They are already doing that so it wouldn't change anything.

No they are not right now, otherwise we would have full news every day of it. Defense rockets for stuff like Patriot ran out, those systems are trivial to overwhelm and deplete in the age of cheap drones and become useless quickly. Same for the major airports, they keep working, people keep flying to the asia, albeit in less numbers.

>No they are not right now, otherwise we would have full news every day of it.

Yesterday Iran stuck a nuclear plant with a drone, and launched them at other targets as well. And there is news on it even...

https://apnews.com/article/iran-us-uae-nuclear-drones-71e7e5...

Re: Iran starts Bitcoin-backed ship insurance for Hormuz strait

#130

Post by nerfbatplz »

Jensson wrote: post #111
nerfbatplz wrote: post #48

Earlier quoted context omitted.

Ironically the US has never ratified UNCLOS. The American professed interest in maintaining right of passage does not appear to require them to be held to the same standards. Also the Strait of Hormuz is an international strait not international waters. The entire strait lies within Iranian and Omani waters. Frankly it's a bit absurd to complain that your ships can't transit a country's waters while you bomb them.

> Frankly it's a bit absurd to complain that your ships can't transit a country's waters while you bomb them. The issue is they block all non-Iranian ships, not just American ships. Basically nobody would have complained if they only blocked American ships.

Incorrect, plenty of countries have had their ships transit the Strait including China, Philippines and Pakistan

https://www.bbc.com/news/articles/c79jqx1xdy9o

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