Iran starts Bitcoin-backed ship insurance for Hormuz strait (bloomberg.com)
285 points by srameshc 11 hours ago
daxfohl a minute ago
No need for insurance. Just start a prediction market, wait for an insider to play their cards, and traverse or not based on that.
int32_64 10 hours ago
There's no insurance scheme the IRGC can concoct that protects against the US navy hitting your rudder with a 20mm gun.
jltsiren 9 hours ago
Military history is full of quotes like "war is too important to be left to the generals". When you put people who focus on technical matters in charge, they often make poor decisions, as they are not looking at the big picture.
The question is not about whether the US can blockade the Hormuz Strait but who gets blamed for the blockade. Iran is messaging that it is making serious attempts to reopen the strait, while China and Russia are probably reinforcing the message. When people around the world suffer from the consequences of the blockade, they are more likely to blame America for their troubles. Or at least that's what Iran is trying to achieve.
Jensson 9 hours ago
No government have accepted Iranian tolls so far, that is just not going to fly ever. If every country controlling a strait started taking out such tolls that would cause much worse issues than we are seeing currently, nobody will have that.
telchior 8 hours ago
jchook 2 hours ago
The US fundamentally wants the oil to flow globally.
Its secondary blockade of the Strait seems to be driven by optics and PR rather than strategic value.
dmix 2 hours ago
It's a pressure campaign to get a nuclear deal. NYT reported Iran already offered to open the strait, end hostilities, and negotiate a nuclear deal later, but the US rejected that offer as they want to pressure them into giving up their uranium.
Now Iran is demanding money in exchange for the uranium which is the primary roadblock.
antman 18 minutes ago
esalman 2 hours ago
throwaway27448 an hour ago
Why would the US navy be attacking ships in the strait of hormuz
theptip an hour ago
They are doing this because they blockaded Iran.
iririririr 43 minutes ago
because Baron trump has a bet on polymarket paying 100:1?
baq 10 hours ago
Just wait for CENTCOM bulletin with their USDC blockade insurance address
spwa4 10 hours ago
You mean that these mafia style insurances are a joke, but free (as in safe and not taxed) access to the seas is something many wars have been fought over. "Insurance" selling by navies was the norm until WW1 at least.
outside2344 10 hours ago
bc1qxy2kgdytzdonaldjlostiranwartrump
FireBeyond 9 hours ago
Hah, far more likely that it would be $TRUMP or $PATRIOT shitcoins. Gotta skim somehow.
outside2344 10 hours ago
A Iran drone then bombing UAE's oil infrastructure as payback?
Jensson 10 hours ago
They are already doing that so it wouldn't change anything.
throwaway27448 an hour ago
kakacik 9 hours ago
mothballed 10 hours ago
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.
wang_li 10 hours ago
Exactly. The US just announces that they will take any vessel that pays for transit. So, what happens then? Any vessel that goes through and the IRGC doesn't shoot them, the US seizes. So, no one pays since they can't pay for successful transit. The fun game is that all the vessels just go at once. Any that the IRGC doesn't shoot the US takes. Any that it does shoot sink. So, no transit. Unless IRGC doesn't shoot at all, in which case everyone gets out of there with just one vessel paying the ransom. Ultimately this doesn't work for the IRGC as the US is far more capable of closing the strait than Iran is.
The US can also fuck with Iran by getting slight cooperation from ships in the Gulf of Oman by getting some small inflatable boats with remote control and AIS transmitters on them. Put the boat in the water next to a ship, turn of the ship's AIS, turn on the boats AIS, and send the boat through. Send hundreds of them. IRGC won't know what to shoot at or will expose their positions by firing at a rubber raft.
protocolture an hour ago
This is some wacky races shit that boils down to:
1. US fucks up by engaging Iran, Iran closes strait.
2. US fucks up the negotiations and fails to reopen the strait.
3. US decides to try and rescue its initial war goals, through a mutual blockade with Iran, starts sinking the very vessels it demands Iran gives passage to.
Does Mutley get a medal?
lefra 8 hours ago
Or they'll use a pair of binoculars (or a drone with a camera) to ignore the decoys and shoot at the actual ship...
wang_li 8 hours ago
tehjoker 10 hours ago
You realize that America "in theory" wants ships to transit the strait right? The US blockade is self-defeating.
You can't block the strait if we block the strait! lmao
SubiculumCode 7 hours ago
I think this is incorrect. The point is to show that if Iran does this, then they will not be the only ones that can do it. The last thing that should happen is to reward Iran for rent seeking on the Strait. Others can also seek rent then, and the whole strait gets shut down..which encompassed around 90% of all Iranian oil exports, which in turn was about 90% of their economic exports.
throwaway27448 an hour ago
tehjoker 6 hours ago
Pay08 9 hours ago
The US is blockading the Iranian coast, not the entirety of the Strait.
IncreasePosts 10 hours ago
The reason the US is blockading is because Iran is only partially blockading it. If Iran wasn't blockading at all then America wouldn't either. But it's pretty clear that "only shops whose countries pay a lot of money to Iran" would help Iran.
bdangubic 10 hours ago
US Navy has shown particular strength in this conflict against Iran, sitting in the international waters many (many, many) miles away and chillin :)
Jensson 10 hours ago
Whats weak about doing the smart thing?
nerfbatplz 10 hours ago
srean 10 hours ago
I would have never realised that things would have taken such an Onion worthy scatological turn.
s/n/d/6
yongjik 8 hours ago
Sure, but when it happens it's no longer Iran's problem - it's your problem. (And maybe America's problem, unless America gains anything from the global trade burning down.)
u1hcw9nx 8 hours ago
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.
everdrive 10 hours ago
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.
mrandish 10 hours ago
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 through to sink a multi-billion dollar ship that takes a decade to replace.
There are now similar asymmetries emerging across war-fighting and even though warships can still be effective (and less vulnerable) in other scenarios, this specific one seems especially bad. The other factor is that most of what ships carry through the straight isn't going directly to the U.S. so the impact on the U.S. is mostly secondary, reducing the risk the U.S. is willing to take. Of course, all this was known beforehand by military strategists which makes this all look even worse for the U.S. administration.
EthanHeilman 7 hours ago
The bigger issue is the tankers. The US Navy isn't going to be happy patrolling the strait sure, but even if they did they wouldn't be able to protect the tankers enough for it to make sense for tankers to take the risk.
The last time this happened the US opened the strait by accidentally shooting down an Iranian passenger plane after sinking a large chunk of Iranian navy. The Iranians assumed the US shoot the passenger plane down on intentionally as a war crime and assumed the US would was planning to escalate the conflict. This fear deterred further Iranian attacks on tankers.
This isn't going to work this time because the US started the war by performing of the most serious escalations possible, a decapitation strike against top Iranian leadership in a surprise attack using a diplomatic negotiation as cover. The US did this while the strait was open and Iran was considering a peace deal.
Threats of escalation are no longer effective at deterring Iran because Iran now believes the US will take such actions regardless of what Iran does. What does Iranian leadership have to lose by staying the course? Very little. On the other hand if Iranian leadership back down, they loose all their leverage, they look weak internally, they look weak externally and the US might decide to attack them out of the blue again.
This is why decapitation strikes are generally not done. They remove options and they undermine deterrence and paint belligerents into a corner.
xbmcuser an hour ago
bena 6 hours ago
YZF 5 hours ago
doctorpangloss 5 hours ago
nradov 8 hours ago
Modern US surface warships such as the DDG-52 Arleigh Burke class are pretty survivable. The Iranians (and their Houthi proxies) have made sustained attacks on them and don't seem to have hit anything. And a single hit would be highly unlikely to sink such as vessel: we're not talking about something like the Russian Moskva cruiser that was crewed by drunks and had inoperative defensive systems.
The real problem is that there are too few such vessels to sustain convoy escort operations. Each destroyer can only provide area air defense for a handful of merchant vessels, and they can only stay on station for a few days at a time before they have to cycle out to refuel, rearm, and conduct critical maintenance. Some of the key munitions also appear to running low. And it appears that the other Gulf states are refusing to allow use of their facilities over fears of Iranian retaliation.
Other countries generally aren't really in a position to assist as part of a coalition either. They either don't have sufficiently capable warships at all, or lack the logistics train to sustain them in the Persian Gulf / Gulf of Oman region. After the Cold War a lot of countries like the UK and Germany essentially dismantled their navies so that they now exist only as government jobs programs.
HWR_14 7 hours ago
riffraff 6 hours ago
xrd 8 hours ago
bparsons 7 hours ago
Majromax 8 hours ago
> 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.
It's not the billion-dollar warships that transport oil, it's the much more fragile and unarmed tankers.
Even if the US Navy begins full escort duty, it can't remain on-station forever. What are shippers to do afterwards? One drone strike might cause a tanker to have a very bad day, yet it's extremely difficult to so permanently degrade an entire country that they become incapable of launching sporadic attacks.
Ultimately, the status of the Strait must be settled diplomatically, and the US and Iran are each betting that the other side will blink first.
dragontamer 7 hours ago
wongarsu 8 hours ago
All of this was well known before the war though. The idea that navy is incredibly vulnerable modern anti-ship defenses has been a major consideration in the Taiwan situation for at least a decade (mostly in relation to the ability of the US navy to even operate in the area in a war). More recently, Ukraine has made a great show of sinking navy ships with cheap unmanned surface vehicles
Back in WWII you could sail your navy up a river and expect positive results. In the 21st century, the idea of attacking an enemy-held strait with navy doesn't work
taffydavid 10 hours ago
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.
euroderf 10 hours ago
ifwinterco 9 hours ago
The US military is also just less powerful than it was at its peak at the end of the Cold War as well.
Still the most powerful navy in the world, but spread increasingly thin (turns out "the whole world" is quite a big place).
This is no longer Reagan's (almost) 600 ship navy, and projecting power halfway round the world is no mean feat when your opponent can lob missiles and drones at you from their back garden
overfeed 5 hours ago
DoctorOetker 7 hours ago
suppose one has N independently developed interception systems (from detection till physical interception attempt), each with an intercept success rate of 90%.
a rudimentary calculation then gives the probability of hitting (not sinking) the ship as 0.1^N per launched missile; so it seems that given enough budget to spend on independently developed missile interception systems allows to drive down the penetration success rate arbitrarily.
Multi-billion sounds like $ 10^10; so assuming an attacker can launch say a million missile attempts then the statistical loss would be 0.1^N * 10^10 * 10^6; so the statistical loss can be driven down arbitrarily say to $ 1 by developing ~ 16 independent interception systems.
16 independently developed intercept systems doesn't sound like unobtainium for a vested nuclear power.
furthermore, the development cost of 16 independent intercept systems can be amortized over many more installations than a single ship, it can be amortized over multiple ships, multiple bases, multiple strategic assets across the globe.
don_esteban 6 hours ago
cyberax 7 hours ago
> Even if a warship stops the vast majority of them, only one has to get through to sink a multi-billion dollar ship that takes a decade to replace.
Even worse. They don't need to attack _warships_. They can just attack civilian vessels, especially tanker ships, that don't have any defenses.
A hit on a tanker and the subsequent oil spill would be catastrophic.
AnonC 10 hours ago
> United States using its military to keep international waters open
Being a little pedantic, as per my knowledge, the Strait of Hormuz is not “international waters”. It’s territorial waters belonging to Iran and Oman. AFAIK, Iran hasn’t ratified UNCLOS either, and claims it is not subject to it.
Majromax 8 hours ago
> It’s territorial waters belonging to Iran and Oman.
The trick is that it's still an 'international strait', or a segment of water that forms the only connection between two areas of high seas -- in this case the Persian Gulf and the Gulf of Oman. The principle of freedom of navigation establishes that innocent traffic (civilian traffic, and even warships in peacetime) have a right to use the strait to go from one body of international water to the other.
Iran may claim that it doesn't have to abide by that right, but international law is never self-executing. One question to be resolved by this war is whether Iran will ultimately recognize the right to navigation in any settlement (and then choose to abide by said settlement).
anigbrowl 6 hours ago
ebbi 6 hours ago
lesuorac 5 hours ago
irishcoffee 7 hours ago
nradov 8 hours ago
If Iran doesn't want to observe the terms of the UNCLOS (regardless of whether they have ratified it or not) then their territorial waters claims revert to the older 3NM limit. They can't have it both ways. Of course, in practice those legalisms don't matter without a means of enforcement.
justinator 7 hours ago
It's prohibited under international law to attack a sovereign nation, like the US has done to Iran, so the point of Iran closing the Strait in response to this is very much moot.
adrr 8 hours ago
> Iran hasn’t ratified UNCLOS either, and claims it is not subject to it.
Which isn't unique. Bunch of countries haven't ratified it and aren't legally bound by it but do follow it in spirit. US, Turkey, UAE, Israel etc.
anigbrowl 6 hours ago
bpodgursky 9 hours ago
All straits other than the Bosporus (which has some additional rights to Turkey given the proximity to a major city) are international waters for the purposes of free transit, under the Montreux Convention.
WorkerBee28474 9 hours ago
throw9394048 8 hours ago
Pay08 10 hours ago
No, the Strait is international waters and always have been.
jbxntuehineoh 9 hours ago
FireBeyond 9 hours ago
mooktakim 6 hours ago
American navy has blockaded countries all over the world, so it's more true that they closed international waters. Waters were open before America existed. If Americans would actually learn their history they would see that the USA blockade was the reason Japan attacked Pearl Harbour, as the Japanese needed the water to open and thought taking out Pearl Harbour would prevent the US Navy controlling the Pacific. Japan attacked the American base, USA attacked Japanese civilians with nukes.
dpark 6 hours ago
> Waters were open before America existed.
A huge part of the reason sovereign nations built navies was to fight piracy. It’s not really true that waters were open historically.
mooktakim 6 hours ago
kortilla 5 hours ago
Nukes were not a response to Pearl Harbor.
The framing in general of “Japan only took military action and the US sank to attacking civilians” is wrong too. Take a look at what Japan did to the Chinese during that time period if you think they were only attacking military targets.
Japan also invaded an Alaskan island. https://prologue.blogs.archives.gov/2010/06/07/the-japanese-...
mooktakim 5 hours ago
subroutine 5 hours ago
Why would you post such nonsense given how easy it is these days to determine bullshit? By the time of Pearl Harbor, Japan was formally aligned with Nazi Germany. Japan, Germany, and Italy signed the Tripartite Pact in Sept 1940 creating the Axis alliance. Pearl Harbor happened in Dec 1941, so Japan had been formally tied to Germany for more than a year.
“The American navy closed international waters.” Not in the Pearl Harbor context. Before Pearl Harbor the U.S. was not conducting a naval blockade of Japan that closed international waters. The U.S. cut off Japan from US oil in July 1941. That is not the same thing as the U.S. Navy closing the Pacific.
“The USA blockade was the reason Japan attacked Pearl Harbor.” False. Japan attacked Pearl Harbor because it wanted to neutralize the U.S. Pacific Fleet while Japan seized the "Southern Resource Area”, especially oil-rich East Indies, Malaya and other regions in the pacific. The U.S. oil embargo might have played a small factor, but that wasn't a US-only thing; various countries were increasingly unwilling to sell oil and other resources to Nazi-aligned Japan while they were attempting to conquer China and most of the Southeast Pacific.
mooktakim 5 hours ago
_DeadFred_ 5 hours ago
"Waters were open before America existed."
The United States formed our Navy because of Islamic Pirate/Slavers causing a lack of open waters.
https://en.wikipedia.org/wiki/Barbary_corsairs
"The Barbary threat led directly to the United States founding the United States Navy in March 1794."
mooktakim 5 hours ago
mooktakim 5 hours ago
mooktakim 5 hours ago
selfhoster1312 6 hours ago
You're not wrong, except that USA is/was not always literally "keeping waters open" for everyone. The Cuba blockade, which is another form of war and has dire consequences for the population, has been going on for decades: https://en.wikipedia.org/wiki/United_States_embargo_against_...
broken-kebab 5 hours ago
This is factually incorrect. Blockade is not a synonym of embargo. Blockade is generally an act of war, and embargo is not. Dealing with Cuba is certainly a huge PITA for the majority of trading actors because of potential blacklisting in the US, but waters around Cuba are as open as they can be, and you can check marine traffic to make sure that ships arrive to Cuban ports. Even from the US itself (cause there are exceptions from embargo such as food, and medicines).
w29UiIm2Xz 8 hours ago
The power wasn't there in the first place if the administration couldn't defend Hormuz. It's all the same capital and resources that prior administrations had. The actual blunder was exposing that weakness to the world. We could have done nothing and reputation would've carried the idea that we could.
SlinkyOnStairs 7 hours ago
> The actual blunder was exposing that weakness to the world.
The world already knew.
The real strength of the prior admins was in simply not needing the military force. The 2015 Iran nuclear deal is a relevant example here. It didn't cost the US anything.
stickfigure 5 hours ago
tick_tock_tick 3 hours ago
dylan604 8 hours ago
> It's all the same capital and resources that prior administrations had.
Is it? Depending on how far back into "prior administrations" you go, the modern US Navy is a shadow of itself.
runako 7 hours ago
everdrive 7 hours ago
Not necessarily. It's a matter of risk. How many resources do we want to commit? Are we comfortable putting a large number of troops in Iran? Are we comfortable with major losses as we try to enforce against drones and mines?
It's not that I think any of these things are wise, but this is part of the risk calculus you make when you decide to wage war. It's more like a debate: if you don't have a plan for uncomfortable questions you're a poor debater. The US has the physical means to prevent the closure, but I think it's quite clear that this administration ignored known risks and acted recklessly. And more importantly, apparently had very little contingency planning if things didn't go their way.
thinkingtoilet 7 hours ago
The power is there, they just don't want to pay the cost in terms of money, lives, and polling popularity. This was done on the whim of a man-child throwing a tantrum, backed by his deeply racist hatred towards Obama. There was no plan other than his usual bullying tactics. Don't get me wrong, I'm glad we are not investing insane amounts of money and large lives into this, but we absolutely could win this if we wanted to pay the cost.
rainbowzootsuit 10 hours ago
I would amend that to be that everyone thought Iran could close the straight, but now they _know_ they can close the straight.
nerfbatplz 10 hours ago
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.
WarmWash 8 hours ago
No one owns anything or has the right to anything.
Everything is either what you hold by force, or have a friend who holds it by force for you.
LorenPechtel 9 hours ago
The original ship channel was in Omani waters, not Iranian. It is entirely unreasonable to consider it reasonable for Iran to mine Omani waters.
statguy 9 hours ago
Jensson 9 hours ago
> Frankly it's a bit absurd to complain that your ships can't transit a country's waters while you bomb them.
The issue is they block all non-Iranian ships, not just American ships. Basically nobody would have complained if they only blocked American ships.
nerfbatplz 9 hours ago
mandeepj 6 hours ago
> It would be quite stunning Iran defeated the united states in this sense.
> The fact that this outcome is surprising represents a very loud and public failure on the administration's part.
You can't teach stupid!! The coward, sleepy, dementia ridden, pretentious commander-in-chief declared victory over Iran the next day after starting the war.
dzonga 5 hours ago
the US probably trains the best experts in military history & strategy. At their officer schools like WestPoint & other programs.
problem is when your Commander in Chief is a Idiot In Chief who wants to surround himself with "YES" men.
actual solid pragmatic advice won't be listened to - i.e that Iran is a millennial empire with asymmetrical advantages.
if you have no strategy to counter that asymmetrical strategy - then don't fight the war.
asdff 9 hours ago
Seems like piracy is more about the land than the sea. I can't think of any major american military action against piracy aside from actions against somali terrorists. Seems piracy as it was known historically died out as the old historic pirate havens of say Tortuga or Outer Banks went from places of anarchy to places that were controlled by some government in some capacity. And that is exactly where we see the somali piracy today: here is a state that is unable to govern its land mass and thus there is piracy, even with the american navy directly taking action against this piracy. Seemingly this has nothing to do with the american navy at all, even though that is supposedly one of its mandates and it takes actions in the spirit of advancing these anti piracy goals. The fundamentals of why piracy does and doesn't occur don't really change. It seems it comes down to government capacity on land, not from projecting naval power.
throwaway27448 9 hours ago
> somali terrorists
Pirates are many things, maybe even criminals under international law, but terrorists they are certainly not.
gpm 6 hours ago
asdff 8 hours ago
_DeadFred_ 9 hours ago
I mean that is ignoring the American military experience with Islamic pirates and Islamic slavers.
asdff 9 hours ago
throwaway27448 9 hours ago
CMay 3 hours ago
We've been planning interventions in Iran for 40 years and they constantly get revised or updated. Iran is literally one of few countries known for drones, which they based on stolen drone tech from western countries. It's not realistic that we entered this conflict unaware that Iran could harass the strait cheaply.
The problem is that Israel bombed their entire leadership structure and there's seemingly nobody to deal with now. It's fragmented between people who want to make deals, people who can even facilitate any kinds of agreement and the radicals who simply want the world to burn and will throw any human in the way to die for that end.
We can absolutely continue destroying their capacity to do things, but the terrorists do not care about their own people or the world. They will use human shields and continue seeking nuclear weapons. They do not value human life or rules. This is why they can never have a nuclear weapon.
At the same time, showing the vulnerabilities in getting oil from that region means China is now buying more oil in USD and even directly from the US via the Pacific which helps further deter World War 3. In the case that something did still happen as part of a global strategy by China, Iran no longer exists as a lever that can be pulled to expand the chaos of a war with the aim of further diffusing the US military away from the Pacific.
If we wanted to fully end this mess, we would probably have to send the military in on the ground, which nobody wants except Iran. They are extremists in general and willing to die over this nuclear issue.
Barring that, we've largely neutered their capacity to make war and reorganized oil trade further in favor of the US. We will have to wait to see if Iran's leadership structure sorts itself out and they come to the table. Until then, if Iran wants to prevent their neighbors from benefiting from international shipping, Iran can be denied that too. Countries are developing workarounds to rely less on the strait, so the longer Iran sticks with this strategy the weaker it will get over the years.
It's popular to say the US lost this or the US lost that and it's a ridiculous country, but it's usually some kind of political gymnastics or financial judgement as it pertains to cost vs benefit. We always lose fewer soldiers and generally come out of it better than if we hadn't done anything at all. We almost always go into something for many more reasons than are publicly stated. A lot of the benefits of intervening in Iran seem to be paying off right now.
Sometimes doing the right thing is unpopular, but you should still do it.
BLKNSLVR 24 minutes ago
> A lot of the benefits of intervening in Iran seem to be paying off right now
I, umm, disagree fairly wholeheartedly.
Maybe there's some long term <something> that has changed direction slightly as a result, but right now literally everything immediate is worse than it was beforehand.
lorecore 3 hours ago
> We can absolutely continue destroying their capacity to do things, but the terrorists do not care about their own people or the world. They will use human shields and continue seeking nuclear weapons. They do not value human life or rules. This is why they can never have a nuclear weapon.
It's the US and Israel that are the "terrorists" and yet both have nuclear weapons. You literally say yourself that we can "continue destroying their capacity to do things", and like your definition of terrorists, the US/Israel are using us (US citizens) as human shields.
CMay 3 minutes ago
Jensson 2 hours ago
Arubis 4 hours ago
The cascade of self-injury and self-sabotage required for the US to end up in this position cannot be understated. It's much easier to defend against an attacker whose first move is to blind and disarm themselves.
wnevets 7 hours ago
> but this administration clearly had no idea what they were getting themselves into and did not plan accordingly.
You can reuse this line for most of things this administration has been doing.
kleton 7 hours ago
It would not be that stunning, given that a much poorer Iranic country decisively defeated the U.S. in a ~20 year war ending only a few years ago.
Arubis 4 hours ago
I presume you mean Islamic.
More to the point, Iran has been preparing for war with the US for decades. The US prepared for _this_ war with Iran for a couple of weeks.
defrost 4 hours ago
kleton 3 hours ago
WarmWash 8 hours ago
The gamble, which was certainly egged on by Israel, was that two stars aligned and it was high time to strike Iran.
The first star was intense civilian unrest, the months leading up to the strikes was marked by riots and protests.
The second star was the meeting of Iran's top brass in one spot at one time, both of which Israel knew about.
It was almost certainly sold to Trump as a domino event, where the US would blow the head off and the people of Iran would ravage the body. On paper it looks clean, and certainly he was riding on a high after the swift coup in Venezuela.
Of course though, that did not happen, and now he had to go to China to beg under a thin veil for them to pressure Iran to back off. Trump rolled a critical failure on what appeared to be a moderate-low risk attempt.
rstuart4133 7 hours ago
> what appeared to be a moderate-low risk attempt.
It looks like it appeared that way to Trump. But you make it sound like it appeared that way to most people. As one of those "most people", I can say that's wrong. The reaction of most people was "WTF is Trump thinking?".
It's been clear he's not the sharpest tool in the shed for a while. But he should be surrounded by very bright people for are able to provide frank and fearless advice. Looks like he fired most of those people, and whats left have been cowered into sycophants.
l33tbro 6 hours ago
ModernMech 6 hours ago
The Department of Defense is run by a weekend morning show host and the President is a reality TV star. It would be baffling if things were going well.
ajross 6 hours ago
This spin is such a weird way of thinking about this. Hormuz was open! Hormuz had been open for decades! Iran "closed" it as part of a war that the United States started.
We weren't defeated in a attempt to "keep Hormuz open". Hormuz closed because we we started an entirely unrelated war. And lost. There's a difference!
tootie 8 hours ago
Side note that the US offered the same plan as Iran. Selling insurance (in USD) to shippers to transit the Strait. They have done $0 in business.
https://www.ft.com/content/eabadd1a-a712-4b44-99bf-bb50eb753...
jrmg 6 hours ago
no idea what they were getting themselves into and did not plan accordingly
That is the modus operandi of this administration.
All tactics, no strategy.
jayd16 8 hours ago
The plan was ostensibly to distract and insider trade. Winning would be counter productive anyway.
amelius 8 hours ago
Say what you want but it seems like Iran are the ones playing 4D chess here.
myko 9 hours ago
Iran defeated the US the minute trump was sworn in.
In a sense, this is the defeat of the US by bin Laden - it's been a steady slide until the trump cliff since then.
ninjagoo 6 hours ago
> Much of the post-WW2 American-led world order was founded partially on the United States using its military to keep international waters open.
This completely ignores the MAD era and the Soviets taking over Eastern Europe by force. It also ignores the Korean war stalemate, the Vietnam war loss, as well the most recent Afghan loss.
Post-Soviet disintegration management, the successful integration of Eastern Europe, China, and India into the Western Bloc ways were genuine wins. That's post-1989, not post-ww2 (yes, I realize technically that's post-ww2). So there was not really a world-wide dependency between WW2 and 1989 on the American military. Western Bloc, yes, world-wide no.
The current stalemate is only a surprise to the unaware and folks listening only to American news channels. Before the beginning of the current conflict, even $20 chatgpt provided enough insight to accurately chart the course of the conflict in probabilities. Even without chatgpt, folks keeping track and keeping an eye on real news and past policy decisions and progress were able to predict that Ukraine had a very good chance of stopping Russia in its tracks.
The trouble isn't with the availability of this data, it's hubris. Time and time again. Caesar. Napoleon. Hitler. Korea. Johnson in Vietnam. Soviets in Afghanistan. US in Afghanistan. Ukraine. Iran.
But hubris exists because sometimes it works, and for quite some time. Genghis Khan. Pax Romana. Soviets in Eastern Europe. US in Western Europe. Europeans in the Americas. Russians in Eastern Asia. Europeans in Asia and Africa. Palestine. Tibet.
Why it works, and why it doesn't, is an active research topic. [1]
Analysts paid to predict the future will of course argue this vehemently from their pet PoV. And the decision-makers are too domain-challenged to know whom to believe*. They didn't have chatgpt :-)
[1] https://www.hachettebookgroup.com/titles/phillips-payson-obr...
* Or they just don't care
jazz9k 6 hours ago
The plan was for it to stay closed and have the US sell oil.
The US is now exporting more oil than it has in a decade.
Why can none of these supposedly smart people see this plan?
lesuorac 5 hours ago
There's no 4d chess plan here.
Trump thought it would go exactly as Venezuela and has no idea how to fix it. They tried to kill enough of Iran's leadership to get to somebody that would be subservient but it turns out nobody is left alive in Iran that is.
Jensson 5 hours ago
colordrops 10 hours ago
The administration knew this very well. They've been swinging the markets wildly and intentionally several times and they and their buddies have made billions from it.
joe_the_user 7 hours ago
The US didn't win the Vietnam War and didn't even unambiguously win the Korean War.
What the US did was show it would make life uncomfortable for those who challenged the liberal trade order and politically-and-economically offer benefits for those who embraced this order.
What Trump has done is just attack Iran (during negotiations) with no real counter-offer. Iran has responded by attacking everything in sight because nothing was being offered by the US.
Clearly the result is indeed a serious failure on the part of the Trump administration but it's a failure that seems to come from not even understanding that "Pax Americana" has depended on the carrot and the stick.
SilentM68 5 hours ago
Maybe there was another reason for the Iran strikes?
https://www.facebook.com/reel/1448330470095627
Thank you for letting me in!
Sol Roth
PS:
Hope you like the décor. I’m redecorating your thoughts permanently.
option 8 hours ago
This outcome is still favorable for nethyanandu and he used trump and USA as tool.
electrondood 8 hours ago
> this administration clearly had no idea what they were getting themselves into
All of the advisors in the room with Trump (Cheung, Caine, etc.) told him explicitly after the meeting with Netanyahu that attacking Iran was a horrible idea. His military advisors told him that Strait closure was the most obvious consequence.
The root cause here, is that all decisions are being made by a single biological neural network with a really high error rate, which is increasing.
zzzeek 9 hours ago
there is only one man who is surprised and he is Orange and Extremely Ignorant
ericmay 8 hours ago
The post-WW2 American-led world order was, at times, a shared world order between the United States and Soviet Union. Free trade, perhaps, was "enforced" by the United States Navy but that was for the benefit of all nations and it seems to me to have been something pretty widely understood.
If the US military fails to keep international waters open, that harms everyone, and everyone more so than the United States. There's this continued misunderstanding that America did this or that, or securing global shipping is for America to do, or what have you. But you can't have your cake and eat it too here. If you accept American hegemony of the seas and the associated benefits, you have to also accept American action in places like Iran. It's a package deal - you get both or neither. There seems to be a misunderstanding about that, I hope it's a little more clear now.
> It would be quite stunning Iran defeated the united states in this sense.
To this second point, the US can just keep the Strait closed. No big deal. It isn't really possible for Iran to forcibly win here because while the US has higher gas prices, we're the #1 oil and gas market and we can stomach the pain much longer less you get complaints from MAGA/far-left anti-American types. Iran would simply watch their entire economy collapse, while Americans are paying a couple bucks more for cheeseburgers and milkshakes.
But the perspective that the US would be defeated is the incorrect one. In fact, what would be defeated here is that very American-led world order. For the US to be defeated here, as so many seem to rejoice at the prospect of, you would also lose American naval power and security, and instead each and every country would have to spend a lot more human capital and treasure to secure their own shipping and trade arrangements, because there would be no America to come help and save the day. No more NATO. No more caring about Taiwan or Ukraine (remember Iran helps Russians kill Ukrainians?) or getting involved in expeditionary affairs. You can not separate these things. Iran happens for the same reason NATO happens. The world will be much more transactional - pay to play and a global American security tax. A scenario like the one in Iran, in which a genocidal dictatorship that is all to happy to steal tribute from weaker nations simply becomes the norm, if not simply more common, and the EU or China or whoever can deal with it.
So I'd say, be careful to join other isolationists and smugly cheer for the US to "lose" to Iran, and in which case you can expect much worse as the US says "forget it" and only seeks to protect its own vital interests without regard to the rest of the world - the Trumpian and far left view which is a marriage of convenience.
don_esteban 5 hours ago
Is it truly 'US Navy securing safe shipping for everyone'? From whom? Where?
When was the last time they actually did that?
> 'because there would be no America to come help and save the day'
No more American meddling would result in much saner and safer world. Wherever they stick their fingers, the instability and wars ensue.
> pay to play and a global American security tax That's the current world.
protocolture 2 hours ago
protocolture 2 hours ago
>If the US military fails to keep international waters open, that harms everyone, and everyone more so than the United States.
Only in the sense that the US has forgotten its a participant in trade. But that seems to be pretty standard at this point.
>There's this continued misunderstanding that America did this or that, or securing global shipping is for America to do, or what have you.
I honestly would be happy if the world implemented the total blockade on the US that it seems to desperately imagine would be the best outcome for its own economy. Like some giant north korea. Seal the US shut and watch its economy explode with amazing mercantilist economic forces.
It would be nice if they hadn't stuck their dick in this particular bee hive. Its not that we collectively expect the US to secure shipping, but that we would be happy if the US didn't take actions seemingly calculated to make life worse for everyone else on the planet.
>So I'd say, be careful to join other isolationists and smugly cheer for the US to "lose" to Iran, and in which case you can expect much worse as the US says "forget it" and only seeks to protect its own vital interests
I am just waiting for the EU\UK\AU to get its shit together and clean up Trumps mess, so we can move to the point where the global order works without the US. The US didn't provide these services just for the fun of it, its largely just a soft power move, to engender the willing support of other nations. We can and will have successful global trade without the USA. And we can and hopefully will just let the empire rot and seethe from behind its own closed borders.
>Iran would simply watch their entire economy collapse, while Americans are paying a couple bucks more for cheeseburgers and milkshakes.
Iran's economy wasn't exactly in the best position before this. I wouldn't underestimate them. At least not again.
>But the perspective that the US would be defeated is the incorrect one
The US losing decades of work on shoring up willing support and soft power is a massive defeat. And it comes off the back of several other similar losses. It used to be the case that a lot of the planet put "America first" but that's becoming an untenable position. Trump has successfully turned worldwide public opinion against the US. Its electoral suicide in a lot of countries to give in to his nonsense. Every ounce of good will towards the US bought since WW2 has been spent.
>No more caring about Taiwan or Ukraine
Not like a lot of this has been going on. Looks like France is supplying 2/3rds of Ukraines intelligence. Actually the reverse is true here. If the US wants to retain some shred of its predominant position, it needs to get stuck in. Otherwise honestly we will just manage without you.
>remember Iran helps Russians kill Ukrainians?
There's been US weapons in basically every war zone going back decades. ISIS loved Humvees. The US is helping Israelis kill a lot of people right now. If Israel doesn't have a plane capable of delivering the US ordnance, the US will step in to provide it. I don't think this is a glass house that any supporter of the US should be throwing rocks in. Heck I think the US bombed those F 14 Tomcats you supplied to Iran in the opening strikes of this war. "But but the arms sales" he cries as he sells arms to war criminals. This is exactly why the US developed soft power, so that it could say that certain arms sales were illegal and have people reliably agree with them. Those credits have been spent. Its crazy to me that you would expect people to treat you with the respect that you have demonstrated you don't deserve.
>you can expect much worse as the US says "forget it" and only seeks to protect its own vital interests without regard to the rest of the world
Literally current US foreign policy. Why warn people that what is currently happening, might happen? Only slight correction is that the US sees Israels interests as its own vital interests, or can be reliably fooled into doing so at everyone else's expense.
deadeye 9 hours ago
Or is it posible this administration just took a win-win-win position?
1 - US oil and gas companies make money as oil proces rise. The US is the largest producer in the world.
2 - China loses it's major source of oil and gas.
3 - Iran gets neutralized. It may not look like it now, but it will probably end up that way.
adjejmxbdjdn 9 hours ago
1 - A win for the shareholders of U.S. oil companies, close to half of which aren’t even Americans, but not a win for Americans even on a purely financial basis given that they are paying more for gas and food. 2 - China hasn’t lost its source of gas and oil. They have more reserves than the rest of the world put together and can outlast every other country, and they’re still getting shipments. 3 - The exact opposite of reality. Iran’s potential to acquire nuclear weapons was one of their biggest dangers for the rest of the world. But with this the U.S. has given Iran a new actual power that had been conjectured but never realized. Control over 20% of the world’s fuel supply and large percentages of other critical raw materials.
protocolture 2 hours ago
>US oil and gas companies make money as oil proces rise. The US is the largest producer in the world.
Its a win for me laughing at Americans spending more on oil based products.
>China loses it's major source of oil and gas.
Its like 12% of Chinas Oil. China is 90% of Irans oil market. I think people get this around the wrong way.
>Iran gets neutralized. It may not look like it now, but it will probably end up that way.
Why is death and economic destruction a good thing? Like 99.99999% of these effects are worn by iranian citizens, not their government.
everdrive 9 hours ago
Even if this analysis were accurate, I would feel much better if the administration had intentionally gone this route rather than accidentally blundering into it.
ifwinterco 8 hours ago
People can try to come up with 4D chess explanations for the Trump admin's actions here all they want, but the truth is this is 0D chess.
Just a massive strategic blunder, one for the history books.
Any minor damage to China is tiny compared to the strategic loss America has undergone here
elzbardico 7 hours ago
You don’t permanently remove 20% of the worlds oil, 30% of the fertilizer while having a incredibly financialized economy and somehow get on the other side of it healthy and rich.
For one, this would be the end of the Petrodollar and with it the ability to have huge trade deficits siphoning more than 1 trillion in goods and services from the rest of the world in exchange for fancy green paper.
kakacik 9 hours ago
3 - Iran moderates are neutralized, so hardcore fanatics from IRGC take over. Loss for literally everybody.
Otherwise, 1) and 2) are true, Europe is bleeding through the nose with buying US oil and depending on its current antagonist, not smart long term situation that we need to move away asap.
Somebody in US government is making literal billions on shorts and various trade deals just before major announcements keep happening, those are not that hard to see in markets. Current top public bet on this is trumps family and his close coworkers, and their families. If you ever want a witch hunt on traitors and collaborators against US citizens and society, smart up, forget Wall street and just follow those money very directly to culprits.
danbruc 8 hours ago
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.
chrisco255 7 hours ago
Iran has been funding terrorists for decades and the IRGC has murdered tens of thousands of Iranians. There are no reparations for terrorists getting their comeuppance.
toasty228 6 hours ago
> Iran has been funding terrorists for decades
Americans not understanding that half of the world says the same thing about them is the funniest shit ever... Propaganda is one hell of a drug
faizmokh 3 minutes ago
HDThoreaun 2 hours ago
el_io 22 minutes ago
> Iran has been funding terrorists for decades
So is USA.
Cyph0n 4 hours ago
Replace Iran and IRGC with Israel and IDF and you have a winner - one that is actually in possession of undeclared nuclear arms and refuses to cooperate with the IAEA.
lorecore 3 hours ago
It's the US that has been funding Zionist terrorists for decades. It's wild how the generational divide between those who have been subjected to a lifetime of Zionist propaganda vs those of us who have had access to the truth is completely irreconcilable.
daymanstep 8 hours ago
The US allowing Iran to levy a toll on Hormuz would completely discredit the US and set the precedent for other countries to levy their own shipping tolls . It's a non-starter.
iwontberude 7 hours ago
If anything we hand them tons of cash near 0% to rebuild and they join the Eurodollar cartel pushing our hegemony further. Politicians would need to do a better job explaining deficit spending and Keynesianism more generally.
MASNeo 8 hours ago
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.
ams92 6 hours ago
I think this is more due to the fact that the Iranian currency has completely collapsed.
thijson 8 hours ago
It is bigger news indeed. I think previously China and Saudi were settling their account deficit with gold, a big airplane load every now and then.
skissane 4 hours ago
The problem with bitcoin for this-it is very traceable. The US government can declare paying Iran Hormuz “insurance” to be a sanctions violation (they probably already have). Any Western company - even non-US - paying this “insurance” will be faced with the full ire of the US government.
I guess it might work if shipping company is non-Western (such as Chinese or Russian) - but I’m not sure what the advantage of bitcoin is in that case, as opposed to simply paying in yuan or rubles
Karrot_Kream 4 hours ago
How does it matter that it's traceable? Everyone knows the ships going in and out thanks to AIS. Many of these ships are already either falsely flagged, sanctioned, or just Iranian flagged. And as far as paying in rubles or yuan, this tells me that Iran doesn't think the shipping companies are willing to pay in either or think there's a safe/effective way to accept payment through those currencies.
I'm curious what makes your think these ships are unknown. There are 2 blockades in place and suspicion of mines in the conventional shipping route through Omani controlled waters.
2001zhaozhao 4 hours ago
tasuki 5 hours ago
I would have thought so too, but the current bitcoin prices do not suggest the market agrees?
raincole 2 hours ago
Because people are not going to pay this. The US will block or even seize the ships that pay Iran fees, whether in Bitcoin or other currencies. Iran isn't the only one who can close the strait.
lern_too_spel 5 hours ago
They are using Bitcoin exactly for what it's good at, which is to support sanctioned regimes against the interests of the West. We've seen Russia and North Korea siphon money from gullible Bitcoin promoters this way, and now Iran is getting in on the action.
ninjagoo 6 hours ago
> Why is everyone obsessed with US military
Shock of the unsavvy
joe_the_user 6 hours ago
One thing I'd wonder is whether using bitcoin actually involves real de-dollarization. Most stable coin is dollar based and other stable-coin don't seem like strong US competitors. China bans bitcoin trading so any Yuan/rmb based stable coin is marginal. So bitcoin seems strongly related to dollars.
daft_pink 9 hours ago
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.
asdff 9 hours ago
The volatility is only an issue if you need to convert the bitcoin in the near future. If you are willing to wait, volatility goes in your advantage. Bitcoin is volatile enough that if you wait for maybe a few years you will probably hit a pump that will far exceed the growth of most other investments. You don't even need to sell at the high to do this, the run up is often plenty enough gain.
tencentshill 8 hours ago
They were charging 0BTC per ship before, so they come out ahead no matter the current value of the coin. They can change their fees by the day as well.
cpncrunch 3 hours ago
This isnt an insurance product though. Its “insurance”, aka extortion.
ProllyInfamous 15 minutes ago
...it's the same picture.
sureglymop 10 hours ago
My first thought: what mining power does Iran have? Seems important.
tmnvix 7 hours ago
It's worth remembering that the Iranians have as yet never claimed that the strait is mined. They have said that it may be. A lot of reporting misses this and assumes (perhaps deliberately) that the presence of mines is a fact.
But of course Iran doesn't need mines to enforce the blockade. They have drones and missiles that can be operated safely from 100's of kilometres away. They have anti-ship sea-skimming missiles. Not to mention the very large fleet of small armed fastboats.
martinohansen 7 hours ago
I think the question is about bitcoin mining power and now actual mines
tmnvix 7 hours ago
iugtmkbdfil834 6 hours ago
Now.. and I am speaking just from the perspective of trying to achieve specific goals ( and accepting a level of pain for what those goals can demand ), if there was ever a possibility that US may ban/fully sanction bitcoin use, this actually might be it.
skissane 4 hours ago
They don’t need to ban bitcoin use - they just declare paying “insurance” or “tolls” to the Iranian government to be a sanctions violation, irrespective of the means of payment. Then this becomes a complete non-starter for any US company, and any non-US company in nations where the US has significant influence (i.e. most of the West)
iugtmkbdfil834 4 hours ago
I get where you are coming from, but that assumes .. the old world order. Not to search very far, China told its refineries only last week to ignore those particular sets of US sanctions ( and more importantly, we did not hear anything about it since Trump's visit to China ).
pinkmuffinere 6 hours ago
Isn't this bad for bitcoin? I expect the US will immediately say "No don't pay that" and start prosecuting people that pay via bitcoin, because of course it's traceable. Am I missing something?
Pxtl 6 hours ago
How is this a change from status quo? Bitcoin has been the currency of crime since soon after its inception. Back when you could mine on a CPU it was the way to monetize stolen compute. It was the way to buy illegal things on the now-pardoned silk road. It was the way to pay off ransomware. It is now the currency of dark influence money.
Using it to pay off a shipping protection racket is prettymuch par for the course.
ninjagoo 3 hours ago
> Bitcoin has been the currency of crime
Like, say, cash, or check, or wires, or any other payment mechanism?
pinkmuffinere 6 hours ago
I think it's different because of the message it sends. Using bitcoin to do generic illegal things is an 'offense' to anyone that wants to stop illegal things. But there's already lots of targets to aim for if somebody wants to enforce the law, the method of payment is kindof a small deal. However, in this case using bitcoin is an offense to the other party in the war -- the US. I think the US has a more obvious target, and is more capable to do something about the "problem" than general law-loving-folk are about illegal activity. At the very least, I'd think it breaks the embargo? And the US really has (historically) cared about that.
srean 10 hours ago
Bitcoin does make the transaction publicly traceable. Either they have not realised that, seems unlikely, or they prefer it that way.
misja111 10 hours ago
It's not about traceability, it's about not having to use the dollar as currency.
srean 10 hours ago
That's significant messaging though -- we don't have anything to hide, down with the dollar.
I have read many comments that the regime wants to money launder the inflow. Bitcoin would be rather inconvenient for that.
bdangubic 10 hours ago
Waterluvian 10 hours ago
I don’t know stuff but I feel I’ve learned that the Americans can make basic commerce unbelievably painful for whoever they choose through sanctions and disconnection from various financial systems.
thisisit 8 hours ago
Oh they are well aware and using bitcoin for years. Nobitex is an Iranian exchange and they have been processing billions using crypto networks:
https://www.reuters.com/investigations/how-trumps-crypto-ven...
tboyd47 10 hours ago
What difference does it make?
hggh 10 hours ago
> Bitcoin does make the transaction publicly traceable
It can be untraceable with CashFusion
taffydavid 10 hours ago
I read that as coldfusion and I got some ptsd
freerk 8 hours ago
No, that doesn't work with Bitcoin, it only works with a fork of Bitcoin that has less than 0.5% of the value of Bitcoin.
krupan 10 hours ago
I mean, kind of. If I give you an address to use to send me money, and I don't tell anyone else that address, and you don't tell anyone else that address, then nobody else can be sure who is behind the transaction.
yxwvut 10 hours ago
More of a "Bitcoin-Backed Protection Racket", presumably?
genxy 10 hours ago
We know they are just going to spend it all on polymarket.
ninjagoo 6 hours ago
This is quite the, ahem, coup, for Bitcoin. I suppose it was inevitable in a fractured world. This will likely delay, or perhaps even block Pax-Sinica from taking shape.
It's quite the achievement, that the inventor(s) of Bitcoin have continued to stay anonymous to this day.
elzbardico 8 hours ago
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.
tmnvix 7 hours ago
Exactly.
Which, when you think about it, shows that the 'Iran cannot have a nuclear bomb' argument for this war is not exactly the true motivation (not to say that the US and Israel really don't want them to have a bomb).
This war is about trashing Iran. Adding it to the string of other failed states in the area. It would be more honest for Trump and Netanyahu to say that the motivation for this war is to ensure that Iran becomes a state that is incapable of developing the bomb (i.e. a failed and fractured, or weak and compliant).
elzbardico 2 hours ago
Yes, the war is about Israel extreme far right removing an obstacle for their crazy expansionist ideas and about keeping America hegemonic power in the region.
throw310822 6 hours ago
Besides, nuclear weapons are- if usable at all- a defensive weapon. The claim that Iran would attack Israel with nuclear weapons is primarily meant to suggest that they're crazy fanatics blinded by such a hatred that they would be happy to destroy themselves together with their enemy.
On the other hand, I'm not exactly sure why Iran doesn't give up all its nuclear capabilities. It would cost them nothing except pride, and would remove any excuse from the table for the US and Israel for their aggression and sanctions.
DarkUranium 3 hours ago
You don't need a truthful reason to have an excuse. Remember the whole Iraq WMD debacle?
Or, for that matter, Ukraine giving up its nuclear capabilities.
elzbardico 2 hours ago
Exactly, even with conventional ammunitions they have shown a lot of restraint to avoid a nuclear response from Israel.
Israel doesn't have much in the way of a credible defense against Iranians advanced hypersonic missiles. Iran could create a mess in Israel by obliterating their de-salinization installations. If they were the blood thirsty fanatics propaganda paints them to be, that would be exactly what they would do, even knowing that in that case Israel wouldn't have much choice than making Tehran a giant glass parking lot.
elevation 7 hours ago
You're the US and you're planning a 51% attack in a few weeks which will reverse NK and Iranian fortunes and claim the BTC of anyone who helped them. Any other objectives?
lordchair 3 hours ago
A 51% attack doesn't allow you to steal other people's coins, nor does it let you easily alter deep historical transactions. To rewrite the past, an attacker would have to continuously outpace the rest of the network to rebuild the chain from that exact point forward. The primary threat of a 51% attack is that the attacker could double spend their own coins or censor or block specific transactions.
milkytron 5 hours ago
I've actually wondered how many datacenters it would take to effectively perform a 51% attack on bitcoin.
It seems like most newly built computing resources are at the disposal of a few companies and a few people...
mrandish 10 hours ago
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
gpm 6 hours ago
I assume it's to discredit the current international insurance scheme for shipping that doubles as a method of enforcing sanctions.
LorenPechtel 9 hours ago
It lets people not look up. And given the slightest opportunity an awful lot of people will take the don't look up answer.
bradley13 8 hours ago
Nice ship you have there. Be a shame if something...happened to it.
bflesch 9 hours ago
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.
golem14 6 hours ago
That seems like a smart move, given how much the Trump Dynasty seems to be enmeshed in the Bitcoin ecosystem.
[Hearsay, I don't actually know more than what has been reported in the news ...]
mattmaroon 6 hours ago
Crypto but not Bitcoin.
flowerthoughts 7 hours ago
If this was open to non-Iranian shipping companies, it would be some Trump-level trolling. The aggressor that starts threatening tankers becomes the protector mobster, using non-USD as a middle finger. The US/Israel can't really start shooting at tankers without becoming the villain no one can accept. They're already low on trust capital everywhere.
So the few payouts for normal claims would be dwarfed by the war insurance premium currently being charged. They could even offer a discount to loyal clients and still have insane margins.
Yeah, I don't see how the US is coming out ahead in this conflict. Israel might have won some against their adversaries, setting them back a while or two.
LeFantome 10 hours ago
This global tax will be Trump’s legacy. It will be what the world knows him for generations after he is gone.
nelox 7 hours ago
One man’s insurance premium, is another man’s blackmail fee.
yieldcrv 8 hours ago
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
oytis 6 hours ago
"Insurance"
gib444 6 hours ago
Are we just going to have yearly events now pushing up the cost of everything, in perpetuity? I feel like the billionaires got a bit addicted to post-COVID highs
Cider9986 10 hours ago
Corrupted but there's more I guess.
tomhow 9 hours ago
Syndicated here: https://finance.yahoo.com/markets/crypto/articles/iran-start...
konschubert 10 hours ago
“Insurance”
mempko 10 hours ago
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...
tehjoker 10 hours ago
It's a lot easier to carry bitcoins than suitcases full of foreign cash or gold bars too. In China, they moved to digital currencies in part I believe to defeat CIA bags of cash (no point in getting stacks of paper money you can't use...). However, censorship resistant digital currencies allow them to continue their sneaky tricks.
This kind of thing explains in part why despite being an obvious scam, the government allowed cryptocurrencies to grow so large that eventually they formed their own feedback loop so strong that crypto bros were the biggest funders the 2024 presidential campaigns.
bradley13 10 hours ago
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?
nkrisc 10 hours ago
Well the strait was open and freely navigable before trump bombed them.
What Iran has learned from this is they don’t need sympathy, they need to exercise the leverage they do have, and there’s no way they’re ever going to willingly give that leverage up - they’ve seen what would happen.
myko 8 hours ago
Some idiot tore up the JCPOA, the only thing really preventing Iran from getting nukes. The lesson here is: get nukes
kajman 7 hours ago
nkrisc 8 hours ago
srean 10 hours ago
Sympathy gets you Gaza, West Bank and a few refugee camps.
Geopolitics understands one language alone.
Jensson 10 hours ago
And what has this done to help Iran so far? Trump doesn't care about peoples opinions, US oil is making record profits thanks to the war so there wont be pushback from them, and Trump has 5 more months until midterms that is still plenty of time.
The main thing it resulted in is the Europe led coalition that aims to ensure the strait will never get blocked again, so Iran can never play this card again, that will lose them a lot of political power in the future since this card is now gone.
nullocator 8 hours ago
srean 9 hours ago
seanclayton 9 hours ago
Ukraine also gave up its nukes. Look how that worked out for them and Europe.
severino 9 hours ago
Were they theirs? Germany has nukes too but they're not theirs, they're from the US. Germany can't say "fuck off" to the ~50k Americans stationed in the country, leave NATO and get to keep the nukes.
nkrisc 5 hours ago
crikeykangaroo 10 hours ago
Iran was attacked by the US and Israel (the state committing genocide right now). International law, rules and agreements don't seem to matter when it comes to the US and Israel. Fortunately, the world is becoming more and more multi-polar, and the decline of the US (which to a certain extent is probably caused by how Israel is dragging them to wars) is necessary to have some world peace. I do have to note that I feel sorry for the bulk of Americans who are just trying to live their lives.
lorecore 3 hours ago
Iran is more popular than ever before because they've stood up to the Zionists. Have you not seen the Boom Boom Tel Aviv music video? Or the Lego videos?
tdb7893 10 hours ago
"Iran could easily have garnered a lot of international sympathy and support"
What? I understand sympathy but I am not understanding what the path could've been to meaningful support against US aggression here.
postalrat 9 hours ago
Well it worked to get USA and Israel to stop attacking.
tehjoker 10 hours ago
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.
bradley13 8 hours ago
They ate getting relatively little sympathy. Why? Because they are pissing everyone off who might have sympathized.
Seriously dumb. And now this mafia-esque blackmail?
Pay08 9 hours ago
> Iran is garnering incredible international sympathy and support.
From who?
constantius 7 hours ago
pphysch 10 hours ago
International law, much less "international sympathy", is a meaningless phrase in 2026.
ImPostingOnHN 10 hours ago
> [Iran] now are basically asking for blackmail money: "nice ship you have there..."
This doesn't sound like the don to you? "hey Iran, nice country you have there..."
> Maybe Trump should bomb them some more?
If the USA is going to be bombing every country which doesn't give up their sovereignty and bend the knee to the don, then the USA is going to need more bombs.
bradley13 8 hours ago
My comment about Trump was meant to be sarcastic. Sorry, if that was not obvious...
ImPostingOnHN 8 hours ago
HappyPanacea 10 hours ago
Iran knows hard currency is better than soft power