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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

#71

Post by tehjoker »

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?

This is an incredible 180 degree misinterpretation of who attacked whom. Iran is garnering incredible international sympathy and support. There is no just war theory that can support what America has done to Iran. It is immoral, illegal aggression.

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

#72

Post by mothballed »

int32_64 wrote: post #25

There's no insurance scheme the IRGC can concoct that protects against the US navy hitting your rudder with a 20mm gun.

A combination of enough insurance to make it worth the time of the owner + offer the workers a generous amount to their next of kin could make it worth it. Being turned into minced meat might be worth it for some people if it means their families become rich.

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

#74

Post by srean »

Jensson wrote: post #65
nerfbatplz wrote: post #51

Earlier quoted context omitted.

American destroyers and aircraft carriers have been chased away from the Strait multiple times now. Hilariously the USS George HW Bush had to go the long way around Africa rather than risk transiting the Bab El Mandeb after the Houthis defeated the US Navy last year.

In what way were they chased away? Iran tried to sink them and didn't hit any shots, and many on Iran's side died trying. Many IRGC soldiers dying and not even scratching the paint on US vessels doesn't show US to be weak. > Hilariously the USS George HW Bush had to go the long way around Africa rather than risk transiting the Bab El Mandeb after the Houthis defeated the US Navy last year. Valuing the lives of your c…

Given how expensive they are they were presumably supposed to do more than primarily stay out of range. There are less expensive ways of doing that.

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

#75

Post by Jensson »

srean wrote: post #74
Jensson wrote: post #65

Earlier quoted context omitted.

In what way were they chased away? Iran tried to sink them and didn't hit any shots, and many on Iran's side died trying. Many IRGC soldiers dying and not even scratching the paint on US vessels doesn't show US to be weak. > Hilariously the USS George HW Bush had to go the long way around Africa rather than risk transiting the Bab El Mandeb after the Houthis defeated the US Navy last year. Valuing the lives of your c…

Given how expensive they are they were presumably supposed to do more than primarily stay out of range. There are less expensive ways of doing that.

They block Iranian ports so Iran can no longer export oil, that is doing a lot.

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

#76

Post by smallerize »

bigyabai wrote: post #6
anukin wrote: post #5

Earlier quoted context omitted.

How do you ban this? It’s not part of swift or any us govt. backed global financial rails. If Iran(a sanctioned entity) supports this then this is more proof that the thing works.

> How do you ban this? In America? KYC would suffice.

> > Iran Starts Bitcoin-Backed Ship Insurance for Hormuz Strait

> In America?

No.

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

#77

Post by srean »

Jensson wrote: post #75
srean wrote: post #74

Earlier quoted context omitted.

Given how expensive they are they were presumably supposed to do more than primarily stay out of range. There are less expensive ways of doing that.

They block Iranian ports so Iran can no longer export oil, that is doing a lot.

And Iran has blocked the strait too. It's at best a stalemate.

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

#79

Post by taffydavid »

mrandish wrote: post #59
everdrive wrote: post #20

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…

I don't know enough about the current state of naval warfare but I've assumed this is related to the asymmetry that's emerged around protecting capital warships, especially in the scenario of a very narrow strait and a long enemy-controlled coastline. They can shoot relatively low-cost, short-range guided missiles from anywhere along the coast. Even if a warship stops the vast majority of them, only one has to get th…

Cheap drones taking out an AWACS is a great example of this. The US has only 16 of these and it will cost $700 million to replace, and was taken out by a drone that probably cost less than your car.

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

#80

Post by sieabahlpark »

nerfbatplz wrote: post #48
everdrive wrote: post #20

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…

Ironically the US has never ratified UNCLOS. The American professed interest in maintaining right of passage does not appear to require them to be held to the same standards. Also the Strait of Hormuz is an international strait not international waters. The entire strait lies within Iranian and Omani waters. Frankly it's a bit absurd to complain that your ships can't transit a country's waters while you bomb them.

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