No Uncle Sam's paper dollars? ohh boy
this post was submitted on 09 Apr 2026
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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.
Neither is a bank account though either. And one is sanction proof, the other isn't.
Doesn't need to be it's just irreversible. That's why north korean randsomeware has worked forever.
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It also means that if there's a secondary deal trump's Bitcoin account get it's cut right after Iran takes theirs
Honestly, the biggest mistake they've made here is that they're not demanding Monero instead.
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.
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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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?
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I heard they are also accepting iTunes gift cards.
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.
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People who say that crypto has no application are just thinking inside the imperial bubble.
Nobody doubts that ransom is an application for crypto.
protection money, highway robbery
But there are very good reasons why Bitcoin is very far from mass adoption as an actual currency.
The problem is the volatility. It would destroy most people.
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It's ok because the binance CEO guy purchased a pardon in helping Iran laundering their BTC
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Did they give up using the yuan?
They're doing both.
How could that work? Doesn't it take some time for a bitcoin transaction to get pulled into the chain?
At the size of transactions they'd be doing, it'd probably be worth it to set a high fee so that it gets picked up and processed faster. Should still be peanuts compared to the value of cargo these tankers are carrying
It takes 10 minutes to get a single confirmation, but I'm assuming that it takes more than 10 minutes for a ship to transit this waterway, so it wouldn't matter.
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The ships can wait, I guess.
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I remember Trump was experimenting with some *coin. He should try to convince ayatollas to use it instead of Bitcoin.
Comparing his scamcoin to bitcoin is like comparing Flooz to a Visa gift card.
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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.
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“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.
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