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Iran starts Bitcoin-backed ship insurance for Hormuz strait

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261–270 of 737 posts

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

#261

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…

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

#262
post #204
post #194

Earlier quoted context omitted.

Modern US surface warships such as the DDG-52 Arleigh Burke class are pretty survivable. The Iranians (and their Houthi proxies) have made sustained attacks on them and don't seem to have hit anything. And a single hit would be highly unlikely to sink such as vessel: we're not talking about something like the Russian Moskva cruiser that was crewed by drunks and had inoperative defensive systems. The real problem is t…

I don't know anything about this but I am a software engineer. Stop laughing for a minute because I do have a point. As a software engineer, I typically build something and engineer it so I can iterate quickly and improve it. I know that the first version won't work. Isn't this a perfect opportunity for Iran to iterate on sinking cargo ships? I'm struggling to believe that a regime that is (allegedly) weeks away from…

Iran doesn't want to sink merchant ships. They want to extort money from merchant shipping companies by threatening to sink their ships if they don't pay for 'protection'. All they need is a credible threat, which they already have absent any naval ships willing to stay at point blank range to defend merchant ships.

While there are religious, cultural and political aspects to this, the Iranian govt has primarily become a kleptocracy in recent years. It sustains power through the Revolutionary Guard (aka IRGC) which has grown into what's essentially a state-run, money-making commercial enterprise. It collaborates and colludes with various entities across the Iranian economy which it controls either directly or via bribes and coercion. While reasonable people can debate what the recent attacks on Iran accomplished, they certainly nerfed a large part of the IRGC's income. The new Hormuz extortion scheme isn't just retaliation or vengeance, it's replacing lost income which is urgently needed to prop up the Iranian government.

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

#263

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…

no idea what they were getting themselves into and did not plan accordingly

That is the modus operandi of this administration.

All tactics, no strategy.

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

#265

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…

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>left the problem for our children to work out

What problem? Most of the 'problems' Americans talk about when referring to Iran is just the justifications fed to them by Israel.

>Britain is on the brink of falling to hostile Islamists

Ahh, I think I see where you're coming from.

>Congratulations. Free Palestine.

There it is!

Am Yisrael Lie!

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

#266

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…

The Department of Defense is run by a weekend morning show host and the President is a reality TV star. It would be baffling if things were going well.

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

#267
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 think this is more due to the fact that the Iranian currency has completely collapsed.

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

#268
post #67

Earlier quoted context omitted.

> United States using its military to keep international waters open Being a little pedantic, as per my knowledge, the Strait of Hormuz is not “international waters”. It’s territorial waters belonging to Iran and Oman. AFAIK, Iran hasn’t ratified UNCLOS either, and claims it is not subject to it.

> 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…

International Law now has no value when the America-Israel alliance has been skirting said laws to commit mass atrocities in recent history.

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

#270

Earlier quoted context omitted.

You realize that America "in theory" wants ships to transit the strait right? The US blockade is self-defeating. You can't block the strait if we block the strait! lmao

I think this is incorrect. The point is to show that if Iran does this, then they will not be the only ones that can do it. The last thing that should happen is to reward Iran for rent seeking on the Strait. Others can also seek rent then, and the whole strait gets shut down..which encompassed around 90% of all Iranian oil exports, which in turn was about 90% of their economic exports.

There is truth to this but it's basically we'll hurt ourselves to hurt you more. This is a lose-lose strategy.
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