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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

#31

Post by missedthecue »

sph wrote: post #27
spywaregorilla wrote: post #11

Earlier quoted context omitted.

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 work…

How much is Bitcoin worth if the only way you can buy is by meeting someone in an alley with cash?

Surely something, but probably not $23k a coin and forget $60k a few months ago.

Re: Iran makes first import order using cryptocurrency – report

#32

Post by rr808 »

bushbaba wrote: post #28
rr808 wrote: post #14

Earlier quoted context omitted.

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.

I'm pretty sure the US govt has tracked down the vast majority of who owns which wallets. If it doesn't know now it'll figure out some time in the future.

Re: Iran makes first import order using cryptocurrency – report

#33

Post by sph »

missedthecue wrote: post #31
sph wrote: post #27

Earlier quoted context omitted.

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 work…

How much is Bitcoin worth if the only way you can buy is by meeting someone in an alley with cash? Surely something, but probably not $23k a coin and forget $60k a few months ago.

Not everybody lives in the United States of America. Case in point: this article.

If Iran can use Bitcoin to transfer wealth across borders, and can't convert it to (i.e. buy) USD, but can convert it to (i.e buy) EUR, the next decade in geopolitics will be very interesting.

Re: Iran makes first import order using cryptocurrency – report

#34

Post by aaaaaaaaata »

ziddoap wrote: post #16
jonathan-adly wrote: post #13

Earlier quoted context omitted.

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.

> 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. Things are banned all the time in the US, including pieces of software. See Tornado Cash for an extremely recent example.

and suicide!

Re: Iran makes first import order using cryptocurrency – report

#35

Post by xtian »

bsedlm wrote: post #30
xtian wrote: post #29

Earlier quoted context omitted.

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.

Ok, but the "powerful" in this situation are not looking out for the interests of average working Americans, who would be best served by fair and peaceful relations with other countries. And they're not even looking out for the interest of maintaining their "power" since they continue to give the entire rest of the world more and more incentive to abandon the dollar as the global reserve currency. What will happen to the standard of living in de-industrialized America once that happens?

Re: Iran makes first import order using cryptocurrency – report

#36

Post by boredumb »

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.

The chinese have stolen enough IP to make this and other ventures of theirs possible, they absolutely get to feel at the very least some repercussion for it and should be treated as a thief in your home.

Re: Iran makes first import order using cryptocurrency – report

#37

Post by spicyramen_ »

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.

Laughable, you need to read about blockchain

Re: Iran makes first import order using cryptocurrency – report

#38

Post by CoffeeCollector »

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.

lol what an awful take

Re: Iran makes first import order using cryptocurrency – report

#39

Post by hervature »

bushbaba wrote: post #26
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.

Many terrorist groups from the Middle East use captured oil wells to fund their ventures. This gets mixed with other oil from the region via places like Turkey (a NATO ally). ISIS is reported to have made $500M in 2015 [1]. Anyway, the vast majority of the world buys this oil. This is why I say that Canada + USA which produce basically as much oil as Saudi + Russia should pull a DeBeers and sell "blood free" oil but obviously with a fun name like Freedom Oil.

[1] - https://foreignpolicy.com/2018/10/10/isiss-new-plans-to-get-...

Re: Iran makes first import order using cryptocurrency – report

#40

Post by spywaregorilla »

sph wrote: post #33
missedthecue wrote: post #31

Earlier quoted context omitted.

How much is Bitcoin worth if the only way you can buy is by meeting someone in an alley with cash? Surely something, but probably not $23k a coin and forget $60k a few months ago.

Not everybody lives in the United States of America. Case in point: this article. If Iran can use Bitcoin to transfer wealth across borders, and can't convert it to (i.e. buy) USD, but can convert it to (i.e buy) EUR, the next decade in geopolitics will be very interesting.

Nope. It's not "You cannot exchange USD for bitcoin". It's "If your organization exchanges bitcoin, you're gonna get the regulatory hammer".

That affects every organization in the world that wants to do business in the united states, including shell corps, which is basically every major financial player that matters.

The next decade will be interesting but not for this.

The current price of btc is supported by large institutions. These disappear, so does the price.

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