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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

#531

Post by throwaway27448 »

nradov wrote: post #495
throwaway27448 wrote: post #483

Earlier quoted context omitted.

Why is it so bad that countries want rent over the areas they control?

It's not a matter of good or bad. Innocent passage through national waters (including straits) without paying tolls has been a fundamental principle of maritime law for a long time. Allowing Iran to charge a toll for passage through the Strait of Hormuz would set a bad precedent and encourage other countries to do the same. Iran might be able to get some of the weaker countries to pay up but the USA has no incentive…

Straits have always been points of local control. This isn't new. We will have to pay if we want to play. For all people bluster about the US being exempt, I don't see what leverage we can use that isn't more expensive than just paying up. Marinetime law is only as meaningful as can be enforced.

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

#532

Post by samrus »

Jensson wrote: post #41
bdangubic wrote: post #30

Earlier quoted context omitted.

US Navy has shown particular strength in this conflict against Iran, sitting in the international waters many (many, many) miles away and chillin :)

Whats weak about doing the smart thing?

Starting a war and then not fighting in it is pretty stupid honestly. Either fight or dont start a pointless war

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

#533

Post by fmeahe »

nradov wrote: post #409
ImPostingOnHN wrote: post #368

Earlier quoted context omitted.

> the US and Israeli regimes don't particularly care about the other victims whining This does seem to be true of israel, but as for the USA, it does not, hence the USA limiting their attacks. > If other countries are going to make themselves dependent on fossil fuels from the Persian Gulf region then they'll either have to secure their own sea lines of communication or accept that supplies are unreliable. This sort…

It's not rhetoric. I'm not trying to convince anyone, I'm just explaining how things work. Since the other countries largely lack the ability to act, their support or lack thereof is irrelevant. The US and Israel have no incentive to apologize or pay restitution; more likely outcomes are that they either escalate, or unilaterally disengage and leave others to clean up the mess.

The world does have another much better option: they can pay the Iranian ransom and call it a day. No need to participate in another war.

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

#534

Post by tommica »

wickedwiesel wrote: post #523
tommica wrote: post #517

Earlier quoted context omitted.

Few things: 1) no one owns the strait, Iran has never owned it, its international waters. 2) Who says they keep it at $2 million? Due to the location they could say anything and people would pay it, that would have a massive impact in worlds economy. And any plans to bypass the strait would get heavy attention from Iran and their friends - because no one wants to lose their cash cow. 3) if Iran is allowed to do that,…

Did you notice that you emphasize the rule of law in your argument 1) but let the rule of law walk the plank (and drown in the south sea so to speak) with your fourth statement?

Fair point

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

#535

Post by tommica »

stahtops wrote: post #526
tommica wrote: post #517

Earlier quoted context omitted.

Few things: 1) no one owns the strait, Iran has never owned it, its international waters. 2) Who says they keep it at $2 million? Due to the location they could say anything and people would pay it, that would have a massive impact in worlds economy. And any plans to bypass the strait would get heavy attention from Iran and their friends - because no one wants to lose their cash cow. 3) if Iran is allowed to do that,…

Do you think you are American?

What does that have to do with anything?

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

#536

Post by SubiculumCode »

nixon_why69 wrote: post #525
SubiculumCode wrote: post #492

Earlier quoted context omitted.

Wow. You know, I think Trump is dangerous to our Republic, almost certainly committing graft and fraud using the Office of the President for personal gain, probably a rapist and maybe a pedophile. I don't know. But that has nothing, I repeat, NOTHING to do with our national security and the geopolitical reality of the Russian-Iranian-Chinese-North Korean Axis and the threat that axis poses to the democratic free-worl…

Those countries are all very different with very different interests in their respective regions. China doesn't care about Ukraine, Russia doesn't care about Taiwan, and both were very muted in their reaction to the attacks on Iran. The major thing they have in common is not respecting American trade embargoes against themselves, which, of course they don't.

They had muted (visible) reaction because they could do little about it.

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

#537

Post by torton »

lorecore wrote: post #425
bradley13 wrote: post #22

Iran could easily have garnered a lot of international sympathy and support. Instead, they attacked their neighbors, impacted the world economy, and now are basically asking for blackmail money: "nice ship you have there...". Maybe Trump should bomb them some more?

Iran is more popular than ever before because they've stood up to the Zionists. Have you not seen the Boom Boom Tel Aviv music video? Or the Lego videos?

Yes, the antisemites are rejoicing all over the world. Let's not confuse negativity and hatred with genuine popularity.

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

#538

Post by ShinyLeftPad »

doctorpangloss wrote: post #336
EthanHeilman wrote: post #256

Earlier quoted context omitted.

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…

> This is why decapitation strikes are generally not done. They remove options and they undermine deterrence and paint belligerents into a corner. You don't think autocrats have a strong incentive to not die?

Some religions create a strong incentive for adherent to die in certain ways (X number of virgins when you get into heaven, that sort of stuff).

But anyway, once they are dead, your option to target them is gone.

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

#539

Post by slavik81 »

Jensson wrote: post #362
lesuorac wrote: post #325

Earlier quoted context omitted.

There's no 4d chess plan here. Trump thought it would go exactly as Venezuela and has no idea how to fix it. They tried to kill enough of Iran's leadership to get to somebody that would be subservient but it turns out nobody is left alive in Iran that is.

Well regardless this situation strengthens USA's economic position and weakens China, so its not a bad spot to be in. That it also strengthens Russia doesn't matter much since they are no longer seen as the great enemy, after their performance in the Ukraine war was lacking.

China is the world's largest exporter of alternatives to oil. This adventure has done nothing but strengthen their relative economic position.

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

#540

Post by fmeahe »

tommica wrote: post #517
u1hcw9nx wrote: post #196

Even if Iran would charge $2 million per ship (like it has done) it would be manageable cost for for shipping companies and would generate same amount of income as Iran's domestic oil production. When the US violates the law of the sea in the South America, why not. Everybody complains but understands.

Few things: 1) no one owns the strait, Iran has never owned it, its international waters. 2) Who says they keep it at $2 million? Due to the location they could say anything and people would pay it, that would have a massive impact in worlds economy. And any plans to bypass the strait would get heavy attention from Iran and their friends - because no one wants to lose their cash cow. 3) if Iran is allowed to do that,…

Even if it's $3 million or more, I think it may still be a better deal for the world. Iran would be happy because it gets money. The world is happy because they get oil again.

Much cheaper than participating in another endless war.

Yes, this may mean an end to international orders and more countries will take opportunities to charge tolls. But the US-led world order is fading away anyway no matter what.

The least worst option.

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