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Iran Demands Bitcoin For Ships Passing Hormuz During Ceasefire (slashdot.org)
submitted 7 months ago by to c/technology@lemmy.world
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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.

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[–] 58 points 7 months ago (10 children)

Honestly, the biggest mistake they've made here is that they're not demanding Monero instead.

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  • [–] 21 points 7 months ago* (3 children)

    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?

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  • [–] 20 points 7 months ago (2 children)

    Oh, if they demanded Monero, people would figure out how to get it.

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  • [–] 9 points 7 months ago (1 child)

    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

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  • [–] 11 points 7 months ago (2 children)

    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.

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  • [–] 2 points 7 months ago

    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.

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