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 baffling part of this is that nearly everyone was aware that Iran could close the straight if pressed hard enough. The fact that this outcome is surprising represents a very loud and public failure on the administration's part.
I think US blocked international waters around Cuba, without any legal basis (although there is no such thing as international law anyway) at the time of Cuban crisis. And now US seems to block international waters near Iran threatening to attack any ship going to or from Iran, without any legal basis.
I guess I'm just surprised they even bother trying to mask an obvious shake down under the euphemism "insurance" when it's such a trope. Obligatory Sopranos clip of old school mobsters trying to sell "protective insurance" to a Starbucks: https://www.youtube.com/watch?v=_Gsz7Gu6agA
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...".
If you phrase it as an "insurance scheme", then sure they can? All insurance schemes work by giving you money if bad stuff you don't control happens. I'm sure they could.
I had fairly deep knowledge about the bitcoin code base 7 years ago and I got a weird vibe from it as I've seen government code before. When I learned that Tor was funded by the Navy something clicked. Just as it makes sense to have a large onion network to allow spies abroad to surf the web anonymously, it would make sense to also have a currency you can use to fund agents or groups abroad that lived outside the banking system. Bitcoin makes sense for that purpose. If you have a large border-less digital currency with many people on it, even if it is traceable, it's still less risky then using cash which you would have to launder.
The fact that many states are now using it for funding purposes to get around the banking system further adds proof to bitcoin's potential origin.
Also, it doesn't help that Satoshi Nakamoto means basically central intelligence in Japanese...
I'm not saying Bitcoin was created by the government, but if it was there are signs...
I’m not convinced that bitcoin is stable enough to use in insurance products. The currency volatility risk is too high to reasonably cover the covered losses which will need to be covered in some other currency to do things like replace boats etc.
If they put a substantial portion of their wealth into bitcoin we might witness the ultimate rugpull when the BTC creators cash in their large share of previously untouched coins.
Why is everyone obsessed with US military when the news seems to be Bitcoin? Just like that the US Dollar suffered because clearly a crypto currency may well become what the US Dollar was, a commodity to exchange value in a way that nobody can reasonably refuse. Whether that is for better or worse, I think that is bigger news then whose got the bigger gun.
crypto insurance products have been very successful in the DeFi space for more than half a decade, a protocol you are using gets hacked and instead of whaling about it on hackernews the insurance policy you opened pays out immediately
there is a lot of examples on how to design it, and it doesn't really seem like this Iranian one for shipping is designed well if its just an insurance pool in bitcoin at all times
but if they are using the bitcoin blockchain to sign the insurance records of a policy and claim, and then the state administrator is acquiring bitcoin to pay out policies at time of claim, then that could work. that was one of the bullish cases theorized for bitcoin back in 2011, 2012, its a long list
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.
Let say Iran charge 2 million per ship and US boards and takes control over all ships leaving Iran. Everybody complains but understands.
What happens at that point? Can shipping companies manage to pay both US and Iran? Will companies and nations complain to the international court, and will UN step in and prevent either side from doing this? As noted the US did this already in south America and nothing happened, and Iran has already started extracting a toll.
I would not work on a ship going anywhere near that area, and I wonder if investors are that willing to put money on that kind of venture. That leaves nations that are dependent on exports to put military personal on ships (like what Russia is doing), but will that be enough to discourage either US or Iran?
The US should be happy about this. Maybe. Iran seeking reparations is a reasonable demand, this gives the US a way to satisfy a demand without having to pay themselves - which certainly would not be popular, to say the least - making an exit easier. There is of course the risk of setting an undesirable precedent and it is not clear what the consequences of that would be.
Let’s be frank. Iran could have built at least crude gun type fission bombs since they reached industrial scale for enrichment. And this being very dismissing of Iranian scientific and technological capabilities.
Given modern computer consumer hardware, I don’t see why they couldn’t even have built implosion lens based fission devices without testing. DPRK would probably provide them with all the data they needed for the simulations.
Iran has been a few weeks from having a few bombs for the last 30 years because they decided not to build it.
47 comments
[ 3.2 ms ] story [ 63.3 ms ] threadThe baffling part of this is that nearly everyone was aware that Iran could close the straight if pressed hard enough. The fact that this outcome is surprising represents a very loud and public failure on the administration's part.
Proof: https://apnews.com/article/us-iran-war-navy-blockade-strait-...
Maybe Trump should bomb them some more?
They probably won't.
Guess who lost more?
And sadly, $6 gas will collapse the U.S. Navy’s will and effort in weeks.
The fact that many states are now using it for funding purposes to get around the banking system further adds proof to bitcoin's potential origin.
Also, it doesn't help that Satoshi Nakamoto means basically central intelligence in Japanese...
I'm not saying Bitcoin was created by the government, but if it was there are signs...
Corrupted but there's more I guess.
there is a lot of examples on how to design it, and it doesn't really seem like this Iranian one for shipping is designed well if its just an insurance pool in bitcoin at all times
but if they are using the bitcoin blockchain to sign the insurance records of a policy and claim, and then the state administrator is acquiring bitcoin to pay out policies at time of claim, then that could work. that was one of the bullish cases theorized for bitcoin back in 2011, 2012, its a long list
When the US violates the law of the sea in the South America, why not. Everybody complains but understands.
What happens at that point? Can shipping companies manage to pay both US and Iran? Will companies and nations complain to the international court, and will UN step in and prevent either side from doing this? As noted the US did this already in south America and nothing happened, and Iran has already started extracting a toll.
I would not work on a ship going anywhere near that area, and I wonder if investors are that willing to put money on that kind of venture. That leaves nations that are dependent on exports to put military personal on ships (like what Russia is doing), but will that be enough to discourage either US or Iran?
Given modern computer consumer hardware, I don’t see why they couldn’t even have built implosion lens based fission devices without testing. DPRK would probably provide them with all the data they needed for the simulations.
Iran has been a few weeks from having a few bombs for the last 30 years because they decided not to build it.