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Iran starts Bitcoin-backed ship insurance for Hormuz strait

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

#351

Earlier quoted context omitted.

I don't know enough about the current state of naval warfare but I've assumed this is related to the asymmetry that's emerged around protecting capital warships, especially in the scenario of a very narrow strait and a long enemy-controlled coastline. They can shoot relatively low-cost, short-range guided missiles from anywhere along the coast. Even if a warship stops the vast majority of them, only one has to get th…

The bigger issue is the tankers. The US Navy isn't going to be happy patrolling the strait sure, but even if they did they wouldn't be able to protect the tankers enough for it to make sense for tankers to take the risk. The last time this happened the US opened the strait by accidentally shooting down an Iranian passenger plane after sinking a large chunk of Iranian navy. The Iranians assumed the US shoot the passen…

I think "Iran was considering a peace deal" is a bit of a stretch here. Iran was stalling for time, not willing to give anything, and the Strait was indeed open. If they won't give anything now why should they have given anything before.

What does Iran still have to lose? Well, a lot. All their oil is exported through the strait that is now blockaded by the US. The regime while having survived so far and executing thousands of people is still vulnerable over the long term. Leaders can still be hit and potentially the penetrations that led to the success of the initial strikes is still there. Iran's energy sector which is what the regime needs to maintain control (pay salaries etc.) has still not been hit. Other strategic targets that are dual use have also still not been hit.

Iran is never going to capitulate, until it capitulates. Their rhetoric is going to remain that the US has no more levers and can't change anything, because admitting otherwise invites those levers to be engaged. There is some truth to certain individuals likely willing to pay a large price but it's far from clear how deep and wide that extends and what is the tipping point. It is possible that Iran can withstand an oil blockade and even a resumption of air strikes for a very long time but it's also possible they can't. I can't tell and I doubt many people can. There are analysts and various experts with all sorts of opinions.

EDIT: Some of you may remember the Iraqi rhetoric before the US invasion. Then when the US attacked Iraq it crumbled like a paper tiger. The US lost 139 people or so (the coalition lost a bit more) to take Iraq and the Iraqi army largely surrendered or ran away. Assad's huge army with tanks and fighter jets, supported by Russia, collapsed from a bunch of ragtag ex-ISIS guys on Toyotas. The Iranian regime is a lot weaker than what you'd think by listening to them talk because any projection of weakness is the end of them. Ofcourse the US Iraqi invasion ended up very badly after this tactical success and that's the actual problem. Defeating Iran on the battlefield - not so much.

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

#352

Earlier quoted context omitted.

American navy has blockaded countries all over the world, so it's more true that they closed international waters. Waters were open before America existed. If Americans would actually learn their history they would see that the USA blockade was the reason Japan attacked Pearl Harbour, as the Japanese needed the water to open and thought taking out Pearl Harbour would prevent the US Navy controlling the Pacific. Japan…

"Waters were open before America existed." The United States formed our Navy because of Islamic Pirate/Slavers causing a lack of open waters. https://en.wikipedia.org/wiki/Barbary_corsairs "The Barbary threat led directly to the United States founding the United States Navy in March 1794."

Lol let's not talk about slavery when it comes to the USA

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

#353

Earlier quoted context omitted.

> There is a reason the US Navy fled the Persian Gulf on Feb 26 and has not returned since. Two US Arleigh Burke Class Destroyers transited Hormuz a couple of weeks ago without damage and are still there last I heard. The Iranians were really upset, but couldn't do anything to stop it. https://www.cbsnews.com/news/2-us-navy-destroyers-transit-st...

If it went so swimmingly, why only twice then, when there are thousands of marooned ships in need of escort services?

Ships don’t need escort services because you don’t give command of oil tankers to risk taking thrill seekers. And insurance isn’t enough when the captain is literally on the ship, potentially getting killed.

Ships need a robust, sustained ceasefire.

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

#354

Earlier quoted context omitted.

> There is a reason the US Navy fled the Persian Gulf on Feb 26 and has not returned since. Two US Arleigh Burke Class Destroyers transited Hormuz a couple of weeks ago without damage and are still there last I heard. The Iranians were really upset, but couldn't do anything to stop it. https://www.cbsnews.com/news/2-us-navy-destroyers-transit-st...

If it went so swimmingly, why only twice then, when there are thousands of marooned ships in need of escort services?

Warships vs. insurers willing to underwrite a policy for merchant vessels to transit are definitely two very different things. The Iranian Government has a much higher pain threshold/resolve than Trump, but they're also in a lot more pain with the Gulf of Oman closed. Both sides are losing, who will get tired of it first?

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

#355

Earlier quoted context omitted.

American navy has blockaded countries all over the world, so it's more true that they closed international waters. Waters were open before America existed. If Americans would actually learn their history they would see that the USA blockade was the reason Japan attacked Pearl Harbour, as the Japanese needed the water to open and thought taking out Pearl Harbour would prevent the US Navy controlling the Pacific. Japan…

"Waters were open before America existed." The United States formed our Navy because of Islamic Pirate/Slavers causing a lack of open waters. https://en.wikipedia.org/wiki/Barbary_corsairs "The Barbary threat led directly to the United States founding the United States Navy in March 1794."

US navy literally doing piracy right now taking ships in international waters, destroying boats in Venezuela and Trump admitting to piracy.

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

#356
post #155

Why is everyone obsessed with US military when the news seems to be Bitcoin? Just like that the US Dollar suffered because clearly a crypto currency may well become what the US Dollar was, a commodity to exchange value in a way that nobody can reasonably refuse. Whether that is for better or worse, I think that is bigger news then whose got the bigger gun.

I would have thought so too, but the current bitcoin prices do not suggest the market agrees?

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

#357

Earlier quoted context omitted.

> It is reasonable for Iran to do things that hurt the US Yes > (and the world) No

It is not the world. Only Israel, USA and their direct allies are explicitly banned. Most of the world is not.

They shot at neutral ships when they closed the strait, where do you get your info from?

If it was just USA and Israel and Nato even then you'd see a ton of ships go through and the world wouldn't be very affected, since almost all ships that go through the strait are not Nato aligned.

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

#358

Earlier quoted context omitted.

> It’s territorial waters belonging to Iran and Oman. The trick is that it's still an 'international strait', or a segment of water that forms the only connection between two areas of high seas -- in this case the Persian Gulf and the Gulf of Oman. The principle of freedom of navigation establishes that innocent traffic (civilian traffic, and even warships in peacetime) have a right to use the strait to go from one b…

As the nation that was attacked first, They have an unimpeachable argument for wanting to defend the rest of their territorial waters. The ludicrously escalatory rhetoric from the US President has turned this into an existential conflict. I can't take finger-wagging against Iran seriously to be honest, the idea that western powers would scrupulously adhere to international mores if subjected to a full-on kinetic atta…

One can argue that they have a "good reason" for ignoring international rules, but I would voice a risk here. Other nations that control important straits are watching what is happening and many of them could benefit more by taxing their straits than allowing free passage, and as more do it, the benefit only increase. It is a kind of prisoner dilemma in that defecting becomes the best strategy as soon anyone else start defecting.

As with other recent trade wars, the value of this kind of behavior goes down when other nations start to retaliate. A ship might be able to pay the insurance from Iran, but can they afford to pay the same fee for each time they pass some other nations territorial waters? At some point the US blockade won't matter and the profitability of the venture will be zero.

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

#359
post #155

Why is everyone obsessed with US military when the news seems to be Bitcoin? Just like that the US Dollar suffered because clearly a crypto currency may well become what the US Dollar was, a commodity to exchange value in a way that nobody can reasonably refuse. Whether that is for better or worse, I think that is bigger news then whose got the bigger gun.

They are using Bitcoin exactly for what it's good at, which is to support sanctioned regimes against the interests of the West. We've seen Russia and North Korea siphon money from gullible Bitcoin promoters this way, and now Iran is getting in on the action.

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

#360

[flagged]

Iran is legitimate democracy with only difference that you have a constitution as holy book and supreme court judges assigned by the President, while Iran use Quran(shia interpretation) with ayatollah as the supreme court...

Sure Iran is funding Hezbollah but USA is funding various rogue militias as well... (Syria war for example)

same hahaah

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