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Iran makes first import order using cryptocurrency – report

reuters.com

61–70 of 93 posts

Re: Iran makes first import order using cryptocurrency – report

#61

Earlier quoted context omitted.

How do you feel about North American urban planning? Suburban sprawl, miles and miles of asphalt to build roads, concrete and wasted space for parking lots, large and inefficient single-family homes... these are far more wasteful than someone running a computer at home. Worse still, these things are subsidized by all taxpayers, unlike a miner's electric bill.

Strawman argument. No one is stating that this might not be an issue. People are totally able to complain about multiple things. But let me tell you: it's much easier to bash crypto as it's new and fresh and very scammy and bad. It's a good thing that we stand up and say no to it for now to stop the already giant waste it creates. We don't need an Additional co2 creater with zero benefit.

anyone who equates "crypto" with "Proof of Work" shows automatically their ignorance or dishonesty when arguing.

Ethereum will switch to PoS next month, and there will be hundreds of thousands of nodes around the world, in aggregate they will run on a fraction of the energy consumed by the millions of video game consoles while idling.

By all means, complain about Proof of Work all you want but get off the high horse. Those "bashing crypto" and talk about "the waste it creates" are usually so covered in privilege they can't even be bothered to actually go to put the numbers in perspective.

Re: Iran makes first import order using cryptocurrency – report

#62

Earlier quoted context omitted.

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…

This will sound harsh but I just want cheap gas. And I am not the only one. So many families are struggling to get by and anything that adds to the cost of things going up would immediately oppose it. I am all for freedom oil but not when it would likely cost me more.

Re: Iran makes first import order using cryptocurrency – report

#63

Earlier quoted context omitted.

How do you feel about North American urban planning? Suburban sprawl, miles and miles of asphalt to build roads, concrete and wasted space for parking lots, large and inefficient single-family homes... these are far more wasteful than someone running a computer at home. Worse still, these things are subsidized by all taxpayers, unlike a miner's electric bill.

None of that directly benefits Iran

How much oil does the US consume, and how much American money goes to OPEC governments?

How much oil could be saved if the US decided to abandon this failed experiment called "American Suburbia" and started to plan for a urban environment that is not car-dependent?

Re: Iran makes first import order using cryptocurrency – report

#64

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.

Cause alot of regional ex-empires want to be empire again instead of the empire. Some of those empires, align with the us interests, others muddle through (turkey), others align with opposing ex-empires (syria) and some try to win it stand-alone (Iran).

The ferrocity of american hatred also seems to increase, the more cultural similarity there is. Russia with its redneck culture and iranians with there crazy almost protestant messianic streak, are to much of a mirror to not bark and bite at.

Crypto is to find out about the ten dolar wench as the ultimate key..

Re: Iran makes first import order using cryptocurrency – report

#65
post #43

Earlier quoted context omitted.

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.

"IP" is a fiction invented to justify collecting rent from unproductive assets and ultimately serves to prevent underdeveloped countries from developing industrial capacity. Every industrialized country in the world (including the US) "stole IP" when they were developing.

No body owes China anything.

Re: Iran makes first import order using cryptocurrency – report

#66

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.

> This seems straightforward to me.

Your comment is so unrealistic and glosses over so many details I wonder if you're the type of politician that gets elected by saying you'll ban the Internet or force porn sites to require identification, and then have to face reality that it's a little more complicated than that.

I wouldn't even know where to start explaining that what you're asking for is a very hard problem even for a very closed political and economical system like China.

Re: Iran makes first import order using cryptocurrency – report

#67

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.

Iran is being sanctioned for multiple reasons. The primary one is because they ratified the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), but then (allegedly) violated the terms. That treaty comes with a mix of benefits and responsibilities, and it specifically calls out the permanent Security Council members (including the US) as being allowed to have nukes. If Iran wanted to have nukes then they should have never ratified the treaty in the first place.

https://www.un.org/disarmament/wmd/nuclear/npt/

Iran is also being sanctioned as a state sponsor of terrorism.

https://www.state.gov/state-sponsors-of-terrorism/

Re: Iran makes first import order using cryptocurrency – report

#68

Earlier quoted context omitted.

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.

> You could just ban exchanges.

US has tried the ban hammer both for alcohol and then for drugs, how has that worked out for them?

That would just create a massive underground black market, this time even more pernicious because it's international, with state-level actors.

Re: Iran makes first import order using cryptocurrency – report

#69
post #43

Earlier quoted context omitted.

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.

"IP" is a fiction invented to justify collecting rent from unproductive assets and ultimately serves to prevent underdeveloped countries from developing industrial capacity. Every industrialized country in the world (including the US) "stole IP" when they were developing.

Any country with ICBMs pointed at us cannot plausibly claim special privileges for being "underdeveloped".

Re: Iran makes first import order using cryptocurrency – report

#70
post #33

Earlier quoted context omitted.

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…

> If your organization exchanges bitcoin, you're gonna get the regulatory hammer

Does the American regulatory hammer have worldwide jurisdiction? US might convince the EU to follow suit, but what if China says "sure Iran, we'll gladly buy your BTC and sell you RMB", what then? These worldwide regulatory hammers that pretty much everybody (not just in the Western world) respects are called embargoes. Good luck embargoing China.

Unless by regulatory hammer you mean the US military, then yes, there's a chance they could do something, but it won't be pretty for anybody. If it's just lawyers arguing, I'm telling you it's easier not to ban Bitcoin but embracing it (and extinguishing it) without weakening the US position in the world stage.

> The current price of btc is supported by large institutions.

This is just plain wrong.

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