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Iran makes first import order using cryptocurrency – report

reuters.com

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Re: Iran makes first import order using cryptocurrency – report

#21

Post by game-of-throws »

lapser wrote: post #7
Synaesthesia wrote: post #6

Why doesn't the US and other governments ban Bitcoin?

Yes. The US, the country that thinks of themselves as the beacon of hope and freedom, should ban Bitcoin. FWIW, I wouldn't put it past the US govt to ban cryptocurrencies. It just would be extremely hypocritical. Something the US is pretty familiar with.

So far the only places to fully ban cryptocurrency (afaik) have been authoritarian countries like Russia[1] and China[2]. The US banning an emerging tech would not be a good look.

[1]: https://www.coindesk.com/policy/2022/07/15/vladimir-putin-ba...

[2]: https://www.euronews.com/next/2021/09/24/china-s-makes-all-c...

Re: Iran makes first import order using cryptocurrency – report

#22

Post by kkkkvcxss »

paulproteus wrote: post #12

For miners operating in the US, I’d like to see sanctions violations cases if they mine blocks that include transactions for Iranian (and other sanctioned) entities. This seems straightforward to me. Frankly I’m quite annoyed that my democratically elected representatives’ sanctions regime is being undermined by Americans interested in a quick buck from wasting electricity with their PC.

Lmao this is like saying the US should charge the Fed for printing dollar bills with serial numbers later found to be used abroad for prohibited purposes

Re: Iran makes first import order using cryptocurrency – report

#23

Post by hestefisk »

Question is: why are these sanctions here in the first place? The US uses its control of the Dollar-based system to wield its power as it sees fit. It’s apparently ok for the US to have as many nukes as it sees fit, but not ok for others to have the same.

Re: Iran makes first import order using cryptocurrency – report

#24

Post by vangelis »

LatteLazy wrote: post #9
Synaesthesia wrote: post #6

Why doesn't the US and other governments ban Bitcoin?

Banning crypto (or drugs or gambling or alcohol or whatever) is one thing. Actually enforcing that ban is another.

You don't have to ban crypto. You could just ban exchanges. You can always exchange Bitcoin for cash and back, but that's a lot harder.

Re: Iran makes first import order using cryptocurrency – report

#25

Post by vangelis »

jonathan-adly wrote: post #13
Synaesthesia wrote: post #6

Why doesn't the US and other governments ban Bitcoin?

Because government officials are supposed to be working for the people? Does your barber want to ban Bitcoin? The school-teacher? The doctor? Nope. They either don't care or actually like it. Also, "banning" things in America is close to impossible due to the populace intense distrust of the government. You can't even ban AR-15s, imagine thinking its possible to ban a piece of software running on a raspberry-pi.

Yeah, like abortion or drugs.

Re: Iran makes first import order using cryptocurrency – report

#26

Post by bushbaba »

paulproteus wrote: post #12

For miners operating in the US, I’d like to see sanctions violations cases if they mine blocks that include transactions for Iranian (and other sanctioned) entities. This seems straightforward to me. Frankly I’m quite annoyed that my democratically elected representatives’ sanctions regime is being undermined by Americans interested in a quick buck from wasting electricity with their PC.

Worse many crypto investors have profited off of Iran and North Korea money laundering. A portion of which is being used to fund terrorism.

Re: Iran makes first import order using cryptocurrency – report

#27

Post by sph »

spywaregorilla wrote: post #11
rufusroflpunch wrote: post #10

Earlier quoted context omitted.

It's just game theory. If banning it won't kill it (and it won't in this case), then you need to embrace it or lose out. The best they can hope for is to control the on-ramps and off-ramps.

Banning the on and off ramps is effectively going to kill it.

You need to ban all on and off ramps anywhere in the world. If you can't buy or sell USD with BTC, but you can with EUR, and you can convert USD to EUR, you're back at square one, and I would argue making USD weaker in the process. No sane US government would risk losing its economic hegemony in that fashion.

Some say it's by design, but I think it's just because of how our global economy and the Internet itself works. It's fine to hate Bitcoin, but it's got this viral quality to it that it is not to be underestimated in the macroeconomic and political scale.

Re: Iran makes first import order using cryptocurrency – report

#28

Post by bushbaba »

rr808 wrote: post #14
Synaesthesia wrote: post #6

Why doesn't the US and other governments ban Bitcoin?

Possibly because it wasn't done with Bitcoin? Bitcoin is pretty bad for shady dealings because its open and everyone can see your transactions.

Only if you know who owns the wallets and both parties reuse their wallets.

You can then use a lawful nft sale on opensea to your “dirty” wallet to make the money look legitimate. With your defense being you merely sold the nft. You don’t know who the buyer is.

Re: Iran makes first import order using cryptocurrency – report

#29

Post by xtian »

hestefisk wrote: post #23

Question is: why are these sanctions here in the first place? The US uses its control of the Dollar-based system to wield its power as it sees fit. It’s apparently ok for the US to have as many nukes as it sees fit, but not ok for others to have the same.

I 100% agree. The US recently added additional sanctions on China for chip making technology simply because China has improved their domestic chip manufacturing capabilities. There is no possible justification for the US getting to decide what products other countries are allowed to research and manufacture.

Re: Iran makes first import order using cryptocurrency – report

#30

Post by bsedlm »

xtian wrote: post #29
hestefisk wrote: post #23

Question is: why are these sanctions here in the first place? The US uses its control of the Dollar-based system to wield its power as it sees fit. It’s apparently ok for the US to have as many nukes as it sees fit, but not ok for others to have the same.

I 100% agree. The US recently added additional sanctions on China for chip making technology simply because China has improved their domestic chip manufacturing capabilities. There is no possible justification for the US getting to decide what products other countries are allowed to research and manufacture.

yes there is, it's the oldest justification in the book. for some reason it's not well seen but it's there and has been for a long time.

it's justification of might and power. summed up in "might makes right".

there's also something of this in the reasoning behind the phrase "history is written by the winners".

this is only an instance of power being wielded by the powerful.

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