He said that the tariff is $1 per barrel of oil, adding that empty tankers can pass freely. “Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” Hosseini added.
Honestly, the biggest mistake they’ve made here is that they’re not demanding Monero instead.
Right? I was like dang you’re already half way there lol.
The reason though is that they probably don’t want to discourage payments because I have seen businesses refuse to use Monero in ransomware attacks because their insurance agreement complicates payout on a fundamentally untraceable currency. Even if Bitcoin is technically decentralized, they can report the transaction and specific currency blocks to whatever federal agency is responsible for fraud.
Still, why not offer both and put a 5% discount on Monero.
That idea of a 5% discount doesn’t sound like such a bad idea.
I never even considered the insurance side there. But it is legit proof of delivery and it gives them at least a chance of recovery if someone fucks up cleaning them.
It’s easier for people to get Bitcoin, Iran could deal with the cleaning / mixing themselves after. This is already going to create friction so keeping it lower might help?
Oh, if they demanded Monero, people would figure out how to get it.
theres only like 6.5B usd worth of monero (compared to ~1Trilion BTC)
At 20Milion barrels of oil (/ dolars if its $1 a barrel) a day, theyd own all the monero within a year, meaning theyd have told pretty actively be selling it back onto the market for another currency to keep a supply for shippers to use. Compared to BTC where they’d need 136 years of hoarding to accumulate it all
The huge demand spike would increase the value of any coins quite a bit so your napkin math doesn’t quite hold. It would basically make monero a new petro backed currency.
Yeah and writer has no idea what they are talking about. One of the core characteristics of Bitcoin is being publicly traceable
I mean it doesn’t even matter that it is. It’s not a secret who the money is going to.
The important part is that it can’t be reversed by a banking authority.
It’s all about whether Binance lets them cash out or not, but mixing within BRICS is sure to make it clean enough, as Binance getting/keeping sovereign clients is good for Binance, and not worth appeasing US BS to turn it away.
I heard they are also accepting iTunes gift cards.
Just make sure you don’t redeem them
DO NOT REDEEM!!!
WHY DID YOU REDEEEEEEEM!?!?
Bitcoin finely found a use case that’s not crime. Take that crypto haters.
Purchasing drugs for yourself shouldn’t be a crime, so it’s awesome that cryptocurrencies exist for this purpose.
Technically it still is a crime since charging money for access to navigable waters is a violation of international law.
It’s not like international law protected them in the first place.
What about Panama Canal, Suez canal, St Lawrence Seaway? Is it fine to charge money for those waters?
They’re not natural waterways, somebody had to make them so the law doesn’t apply. Same for Great Lakes Waterway.
Besides, international law only applies to you if you agree to it. Both US and Iran do not agree with this.
US also has a law that say US can use military force against the ICC if any US citizen is arrested by the ICC.
That’s not true. Customary international law also applies to states, that are not themselves members of a treaty. In the case of international maritime war and international humanitarian laws this is widely accepted as such.
Maybe that used to be the case but the USA does it different
International law is more like a code of conduct. Also as with most laws, if you’re powerful enough you can ignore the law.
International laws have no meaning if nations don’t agree to it.
For example, the United States has laws and policies designed to prevent the arrest of U.S. personnel and its allies by the International Criminal Court (ICC). The 2002 American Service-Members’ Protection Act (ASPA) authorizes the US President to use “all means necessary and appropriate” to release U.S. or allied personnel detained by the ICC, often termed the “Hague Invasion Act”.
Which law?
This would be the United Nations Convention on the Law of the Sea (UNCLOS). It’s interesting that the US is among the nations that have never ratified the treaty.
Also, Denmark has a long 500+ year history of charging ships to transit in and out of the Baltic Sea, so this really isn’t a new concept (Sound Tolls).
All foreign ships passing through the strait, whether en route to or from Denmark or not, had to stop in Helsingør and pay a toll to the Danish Crown. If a ship refused to stop, cannons in both Helsingør and Helsingborg could open fire and sink it.
I thought they meant this law but wasn’t sure. That treaty has not been ratified by the US, Pissrael and most importantly, Iran! So it doesn’t apply and we are talking about a war where neither the invading nations nor the victim nation has signed it.
https://www.simplelaw.blog/p/the-strait-of-hormuz-a-3-minute-international
There used to be hundreds of cases of charges for transit. Led to wars too.
The (non-financial) crime is the best part.
I love taking estrogen I bought offa onion sites :)
Be careful with your sources. Laced drugs are dangerous. But I’m with you.
“can’t be traced” - it’s a public blockchain, though. Everyone can see and trace transactions.
When the money source is clear - it’s the shipping companies - you can trace their transactions.
It’s ok because the binance CEO guy purchased a pardon in helping Iran laundering their BTC
Richard Teng?
Cool, now we can add global extortion to cryptocurrency benefits.
it’s a fucking toll you dingus those are iranian waters
No it’s not it’s an international trade route they’re just being Pricks because anything to piss off maga
Those iran’s waters. These ships are literally passing through their country, I think you’re confused with “territorial waters” as defined in UNCLOS as well but neither Iran nor the US nor pissrael ratified that treaty. Here is a good opinion on why the UNCLOS doesn’t really apply
https://www.simplelaw.blog/p/the-strait-of-hormuz-a-3-minute-international
Have you read your link?
Geographically, the Strait of Hormuz is clearly what’s called a transit passage** strait**: it connects two open seas, has no alternative route, and is one of the busiest shipping lanes in the world. Under transit passage rules, other countries have an almost unrestricted right to sail and fly through. Iran can barely interfere at all.
yes
Iran is right about which rules are universal (innocent passage, not transit passage). … The U.S. is also not a party to UNCLOS.
International customary law applies even if you’re not a treaty member.
** Iran is right about which rules are universal **
I don’t know how much clearer it gets??? Who’s gonna argue that UNCLOS is universal anyway? The US or pissrael? Neither of which are party to the UNCLOS and who very much assert authority outside their territorial waters?
International law has no meaning if nations don’t participate.
For example, the United States has laws and policies designed to prevent the arrest of U.S. personnel and its allies by the International Criminal Court (ICC). The 2002 American Service-Members’ Protection Act (ASPA) authorizes the US President to use “all means necessary and appropriate” to release U.S. or allied personnel detained by the ICC, often termed the “Hague Invasion Act”.
Up to 200 nautical miles from the coast is nation’s territory.
Can you tell me how wide that straight is and what’s on the other side of it so it’s contested isn’t it
Why not Monero?
I’d absolutely use crypto if it was more available in anything I’d want to pay for. So far it’s mostly just VPNs and donations
People tried that, it failed. It’s too volatile.
It’s basically a way for people to think they are being sneaky and shit when it’s all trackable anyways.
Is it though? Obviously bitcoin, eth, etc. Arent, but xmr and zec would be, no?
Correct. Monero would be untraceable.
To an extent it is but with enough resources and knowhow anything is traceable.
It’s not always about direct traceability it’s the little bread crumbs that get left by everything. Nothing is absolute and everything we think is secure leaks like a mofo it’s just a matter of translating the data.
True, a place like Iran could keep it untraceable, although they would have to take some extra care in order to do so. But for your average person that’s not being looked at by a nation state, it is much easier to remain untraceable.
Halal scamming.
Do they accept Walmart gift cards?
A million a ship on avg, high sea piracy is back.
3 to 8 ships have paid in last 72hrs. Normally 320-600ships would have gone thru for free in that window.
I mean… this happened after an illegal war, with probably hundreds of war crimes committed to Iran and hundreds of thousands from israel/US in totality across the region.
This toll is nothing in comparison to that and I prefer this as Iran’s form of retaliation compared to more killing.
The strait of hormus does not lie in international waters. What do you mean by “high sea piracy”?
It is considered international for transit passage.
Considered international by people who want to pass through the strait without paying.
It’s considered international by international maritime law. Free passage, freedom of navigation is essential to trade and commerce.
Iran‘s attack on international shipping is a breach of international law and an act of war.
A blockade can be legal under international law, but it’s always an act of war. Demanding a toll to pass means it’s not a legal blockade.
There is no such thing as international law if countries don’t agree to it.
For example the United States has laws and policies designed to prevent the arrest of U.S. personnel and its allies by the International Criminal Court (ICC). The 2002 American Service-Members’ Protection Act (ASPA) authorizes the US President to use “all means necessary and appropriate” to release U.S. or allied personnel detained by the ICC, often termed the “Hague Invasion Act”.
A quick google search will give you the history.
This one? United Nations Convention on the Law of the Sea (UNCLOS)?
As far as I found out neither the US, nor Iran ratified this.
If you want to argue with law you need to have a law which all states involved follow.
Piracy = taking or using something that is not yours.
That doesn’t apply here?
Preferred crypto payment is USDT (Thether) stable coin. Which is the least US regulated, and most popular, US $ equivalent/backed stable coin. They are unlikely to refuse bitcoin, though.
No Uncle Sam’s paper dollars? ohh boy
That’s gonna upset Donny Boy
They own a bunch of it, though.
Bitcoin is for dodging sanctions and the influence America has over the international banking and payment systems. It’s also may shield third parties from sanctions the US may impose on those who transact with Iran.
Reminder that bitcoin is not now nor has it ever been anonymous.
Doesn’t need to be it’s just irreversible. That’s why north korean randsomeware has worked forever.
It wouldn’t have anything to do with tracing transactions to North Korea being pointless and unactionable I’m sure.
Neither is a bank account though either. And one is sanction proof, the other isn’t.
It also means that if there’s a secondary deal trump’s Bitcoin account get it’s cut right after Iran takes theirs
I’m surprised Elon didn’t convince them to take the payments in Dogecoin…
Why would they ever listen to that dumbass, who’s involved with the countries attacking them?
That shit only works in white idiots
