Iran Wants Bitcoin Payments From Oil Ships Seeking Hormuz Passage

[Kavelj22]

The white house is engaging in evasive tactics, while Trump is feeding the fire with his contradictory Truth Social posts. On one hand, they reached an agreement to open the crossing in exchange for lifting the blockade on Iranian ports, while on the other hand, Iran opens the crossing om the Strait, but the USA doesn't lift the blockade. On one hand, Donald Trump says he ordered naval vessels to return to their bases, while on the other hand, he threatens to destroy Iranian bridges and ports if Iran refuses to reach an agreement. The only part I can blame in this situation is the USA that doesn't look to be serious in reaching an agreement during ceasefire period.

He keeps on threating Iran with the bridges, schools and even their oil depots too. And there's no other one to blame on this situation but on how USA keeps on playing hero and yet violating the arrangement and making it always look like Iran is the villain.

It becomes almost clear about the futility of this truce between the two fighters, which seems more like a respite to reload missile launchers, replenish supplies, just like taking a break before returning back to fighting again. We saw first round and now preparing for next round. Iran insists it hasn't yet decided to return to negotiations due to the lack of seriousness from the USA side, which continues to impose a blatant blockade on Iranian ports while simultaneously claiming the Strait of Hormuz is closed because Iran isn't fulfilling its obligations. These become childish lies that no one believes anymore.

[STT]

Seems they will not agree about the idea of agreeing before they can begin to agree or disagree they differ.    I think you can rely on the ongoing wrestle between the two where they both want to do something other then spend money on rockets which get shot down etc.    but also dont want to be seen not getting exactly what they want.
   Either way oil is going higher from the lower production and distribution, even the after effects of what has already happened will ensure that is the case.   I think the Chinese Yuan is most likely to be used as its common to both the largest seller and purchaser as an agreed currency to hold and use.   They might also use BTC but I dont see the incentive to do so for the largest buyer being China.

[Razmirraz]

If something like this were to happen, how do you think crypto market would be affected?

Iran decision to use Bitcoin for transit fees in the Strait of Hormuz has the potential to increase the legitimacy of cryptocurrencies, especially Bitcoin, as a tool for resolving geopolitical disputes. Iran stance could also drive adoption, driving up prices due to increased demand and further strengthening Bitcoin narrative as a censorship-resistant "safe haven" or "digital gold."
I think Iran is smarter than the US thinks, ships that want to pass through the strait must pay as stipulated, this can increase the confidence of institutional investors and other countries affected by sanctions to use Bitcoin as an alternative to the SWIFT system. Iran move has a positive side to Bitcoin volatility. Large volume usage can lead to a bullish price spike due to a sudden increase in demand, but on the other hand, it also triggers high volatility due to geopolitical tensions in the Strait of Hormuz.

[Smack That Ace]

 They might also use BTC but I dont see the incentive to do so for the largest buyer being China.

Iran want to receive payment in bitcoin to collect fees from oil tankers passing through the Strait of Hormuz, a route it controls. They did not say they would use bitcoin to trade oil because their biggest customer is China, and both have long used the yuan.

However, I do not think this idea will succeed and will have no significant impact on the market. Because the strait is inherently free, and that means once the war is over. The use of bitcoin across this strait will cease.

Furthermore, the strait is now almost completely blocked, congested at both ends due to the US blockade. Almost no oil tankers could travel that route, so how could they possibly execute this idea?

[noorman0]

It becomes almost clear about the futility of this truce between the two fighters, which seems more like a respite to reload missile launchers, replenish supplies, just like taking a break before returning back to fighting again. We saw first round and now preparing for next round. Iran insists it hasn't yet decided to return to negotiations due to the lack of seriousness from the USA side, which continues to impose a blatant blockade on Iranian ports while simultaneously claiming the Strait of Hormuz is closed because Iran isn't fulfilling its obligations. These become childish lies that no one believes anymore.

The US and especially Israel like to look for loopholes that are not covered in the ceasefire agreement to continuously attack Iranian facilities, this is why such a ceasefire does not bring global stability. Iran must always remember that the US's initial mission was to destroy their nuclear program and it is very unlikely to change plans midway, Iran should also be able to guess who will continue to start violating any peace agreement.

[arwin100]

It becomes almost clear about the futility of this truce between the two fighters, which seems more like a respite to reload missile launchers, replenish supplies, just like taking a break before returning back to fighting again. We saw first round and now preparing for next round. Iran insists it hasn't yet decided to return to negotiations due to the lack of seriousness from the USA side, which continues to impose a blatant blockade on Iranian ports while simultaneously claiming the Strait of Hormuz is closed because Iran isn't fulfilling its obligations. These become childish lies that no one believes anymore.

The US and especially Israel like to look for loopholes that are not covered in the ceasefire agreement to continuously attack Iranian facilities, this is why such a ceasefire does not bring global stability. Iran must always remember that the US's initial mission was to destroy their nuclear program and it is very unlikely to change plans midway, Iran should also be able to guess who will continue to start violating any peace agreement.

That's why Israel keeps attacking Lebanon is not covered on peace talks deal. With that action made by Israel it really seems that they are not really interested with peace talks. They are just trying to make the situation calm and do sneak attacks on the important facilities of Lebanon and Iran.

They are trying to out smart Iran, but US and Israel didn't succeed since looks like Iran is well prepared for this and this is maybe the reason why we see both countries is struggling to eliminate the military capabilities of Iran.

[passwordnow]

He keeps on threating Iran with the bridges, schools and even their oil depots too. And there's no other one to blame on this situation but on how USA keeps on playing hero and yet violating the arrangement and making it always look like Iran is the villain.

It becomes almost clear about the futility of this truce between the two fighters, which seems more like a respite to reload missile launchers, replenish supplies, just like taking a break before returning back to fighting again. We saw first round and now preparing for next round. Iran insists it hasn't yet decided to return to negotiations due to the lack of seriousness from the USA side, which continues to impose a blatant blockade on Iranian ports while simultaneously claiming the Strait of Hormuz is closed because Iran isn't fulfilling its obligations. These become childish lies that no one believes anymore.

Iran has said that they're no longer interested for any negotiations with the US after what they've done. So, we expect that this war will continue to happen. Both has their own lies IMO and when they want to talk about peace, they have to be sincere with that and that can't be seen now on both ends. I think before Iran has that but US just triggered them that there shall be no talks anymore.

[Jostern]

Now this is complete news. I was reading through the thread below earlier, and the conversation under the thread is about how they plan to use USDT as a means of accepting payment for passage and the debate against freezing the account after it's in their hands.

Now that they have made it clear and they thoroughly understand the danger of using USDT that's totally in the control of the US government, which is their enemy.

Hormuz require to use a secret code / crypto payment and furute proposals

They shouldn't make mistake of using USDT and they probably won't. In fact, in my opinion using any cryptocurrency other than Bitcoin wouldn't make sense. If they absolutely have to make crypto mandatory, it should definitely be BTC.

I feel it’s a good development for the Iranian Economy, especially when the economy is very poor and everything seems not to be working on their favour, which is why I absolutely think that it’s a good thing for them to decide to be using bitcoin instead of the dollar, and sticking with the bitcoin is still good for them and they can still convert it to USDT, should they not want to situation where the money will be fluctuating considering how bitcoin is going on right now, bitcoin have been unstable since the breakout of the the war, and I don’t think they want to invest in bitcoin they are only using bitcoin for their transactions

[Cheema02]

If something like this were to happen, how do you think crypto market would be affected?

Iran decision to use Bitcoin for transit fees in the Strait of Hormuz has the potential to increase the legitimacy of cryptocurrencies, especially Bitcoin, as a tool for resolving geopolitical disputes. Iran stance could also drive adoption, driving up prices due to increased demand and further strengthening Bitcoin narrative as a censorship-resistant "safe haven" or "digital gold."
I think Iran is smarter than the US thinks, ships that want to pass through the strait must pay as stipulated, this can increase the confidence of institutional investors and other countries affected by sanctions to use Bitcoin as an alternative to the SWIFT system. Iran move has a positive side to Bitcoin volatility. Large volume usage can lead to a bullish price spike due to a sudden increase in demand, but on the other hand, it also triggers high volatility due to geopolitical tensions in the Strait of Hormuz.

Your point about Iran trade system is very interesting because Iran used Bitcoins which shows how digital finance and Geopolitics can be connected. So if Iran used this system in the Strait of Hormuz then automatically the visibility of Bitcoins can increased which effects the whole system. So this step give message to other countries to invest in Iran but in Bitcoins there are are lot of problems like trust and regularity issue because for large transaction but Bitcoins still lack the system in which huge transaction can not be managed. So when demands are high for Bitcoins than its availability decreases so its creat uncertainty in the word. So the learning point is that the World tade may shift towards Bitcoins and its becomes the alternative of old systems

[aylabadia05]

Iran has said that they're no longer interested for any negotiations with the US after what they've done. So, we expect that this war will continue to happen. Both has their own lies IMO and when they want to talk about peace, they have to be sincere with that and that can't be seen now on both ends. I think before Iran has that but US just triggered them that there shall be no talks anymore.

From the perspective of what is currently happening in the Strait of Hormuz regarding the tensions that have arisen—something initiated by the United States—I believe this is accurate based on the news I’ve been following.
When I mention the United States, I mean everyone there, including the good people, but I’m specifically referring to Trump and his administration. Trump has already lost the war with Iran and is not supported by his allies because they see that a conflict with Iran is not based on the major interests desired by the world. What is happening with the failed negotiations and the ongoing escalation in the Strait of Hormuz is Trump’s way of showing that he is militarily strong, when in fact he is not.

[Cookdata]

If something like this were to happen, how do you think crypto market would be affected?

Iran decision to use Bitcoin for transit fees in the Strait of Hormuz has the potential to increase the legitimacy of cryptocurrencies, especially Bitcoin, as a tool for resolving geopolitical disputes. Iran stance could also drive adoption, driving up prices due to increased demand and further strengthening Bitcoin narrative as a censorship-resistant "safe haven" or "digital gold."
I think Iran is smarter than the US thinks, ships that want to pass through the strait must pay as stipulated, this can increase the confidence of institutional investors and other countries affected by sanctions to use Bitcoin as an alternative to the SWIFT system. Iran move has a positive side to Bitcoin volatility. Large volume usage can lead to a bullish price spike due to a sudden increase in demand, but on the other hand, it also triggers high volatility due to geopolitical tensions in the Strait of Hormuz.

You think Donald Trump wouldn't have start war with Bitcoin if his family wasn't involved? When he had his first presidency, is there anything he didn't say about Bitcoin? This would have been a perfect opportunity for him to prove his words right but he is already in the system, his family used the influence to give him a second chance, it would be a cowardice move to want to say anything regarding Bitcoin option for ships to sailed through Strait of Hormuz.

I saw a recent post on BBC interview about an insider trading on Polymarket about oil, these trades came 20 minutes before the attack on Iran, one of the account at made millions from the prediction has never predict anything before and that oil was the only thing he did trade and made money and has never made any trade afterwards. This begs the questions if the president family is using this war to make money for his family. Don't forget that Trump son was one of the early investors of Polymarket, you see where the map is going right?

[Kavelj22]

He keeps on threating Iran with the bridges, schools and even their oil depots too. And there's no other one to blame on this situation but on how USA keeps on playing hero and yet violating the arrangement and making it always look like Iran is the villain.

It becomes almost clear about the futility of this truce between the two fighters, which seems more like a respite to reload missile launchers, replenish supplies, just like taking a break before returning back to fighting again. We saw first round and now preparing for next round. Iran insists it hasn't yet decided to return to negotiations due to the lack of seriousness from the USA side, which continues to impose a blatant blockade on Iranian ports while simultaneously claiming the Strait of Hormuz is closed because Iran isn't fulfilling its obligations. These become childish lies that no one believes anymore.

Iran has said that they're no longer interested for any negotiations with the US after what they've done. So, we expect that this war will continue to happen. Both has their own lies IMO and when they want to talk about peace, they have to be sincere with that and that can't be seen now on both ends. I think before Iran has that but US just triggered them that there shall be no talks anymore.

Sorry, but where do you see Iranian lying? The USA has started the war while there is an ongoing negotiations about the nuclear file. Later after Iran proved not to be the weak enemy using all the pressure cards it has even after assassination of major leaders, the USA started talking about changing the regime and the Iranian missile file.

Personally, I have never be in the Iranian regime side, considering it another colonialism project in the region, but in the condition of war, I can give it the right to use all weapons including illegitimate ones like attacking enemy bases  in neighboring states and close the straits.

As I said in another reply, I guess the USA to back down from the war and continue arming Israel to confront Iran like it has always did, if this will garantee  the return of life to the affected global economy because of Hermuz.

I saw a recent post on BBC interview about an insider trading on Polymarket about oil, these trades came 20 minutes before the attack on Iran, one of the account at made millions from the prediction has never predict anything before and that oil was the only thing he did trade and made money and has never made any trade afterwards. This begs the questions if the president family is using this war to make money for his family. Don't forget that Trump son was one of the early investors of Polymarket, you see where the map is going right?

This proves how geopolitics and digital finance are interconnected. And from this approach why I don't deny the possibility of Trump family are generating some good personal revenues from this war, but not that Trump took this step just for his own interest. For sure there are many others who are benefiting from it in various aspects.

[summonerrk]

We've already highlighted the $78,100 mark as a key one. A lot of positions are concentrated there, and if that price is reached, they could be dumped, which could put pressure on the price. The first time, the price was thrown back like clockwork. Now we're seeing a second attempt.
Trump is the reason. And, of course, partly because of future Fed Chairman Kevin Warsh. Regardless of one's attitude toward Iran, if we take many things into account, it must be said that Iran acted courageously and refused to negotiate in such a difficult situation. But Trump's behavior was probably more predictable, and this predictability is simply called Taco. We saw that. Yesterday, Trump wrote on his social media that the US will continue to block all ships traveling to or from Iran through the Strait of Harmuz. He also said that Pakistan has asked the US not to launch further strikes for now.  Therefore, Trump decided to extend the ceasefire for a while longer, until Iran makes a new proposal and negotiates.
Perhaps significant progress on this issue is possible, so it sent Bitcoin prices skyrocketing higher 80,000.

[Crypto_Timothy]

Well I mean if something like that actually happens, which i believe it would, it would definitely draw a lot of attention to Bitcoin, especially from a geopolitical angle. Iran using Bitcoin for something as major as oil transit payments would push the narrative of it being a global and neutral payment system and that alone could increase interest in the market. I have said it before, this ongoing war #US-IRAN war will open the minds and perspectives of alot of person in the world especially governments that will suffer from this war due to oil shortage.

[Wind_FURY]

We've already highlighted the $78,100 mark as a key one. A lot of positions are concentrated there, and if that price is reached, they could be dumped, which could put pressure on the price. The first time, the price was thrown back like clockwork. Now we're seeing a second attempt.
Trump is the reason. And, of course, partly because of future Fed Chairman Kevin Warsh. Regardless of one's attitude toward Iran, if we take many things into account, it must be said that Iran acted courageously and refused to negotiate in such a difficult situation. But Trump's behavior was probably more predictable, and this predictability is simply called Taco. We saw that. Yesterday, Trump wrote on his social media that the US will continue to block all ships traveling to or from Iran through the Strait of Harmuz. He also said that Pakistan has asked the US not to launch further strikes for now.  Therefore, Trump decided to extend the ceasefire for a while longer, until Iran makes a new proposal and negotiates. Perhaps significant progress on this issue is not possible, and he sent Bitcoin prices skyrocketing past 80,000.

"Not possible"? But sent Bitcoin to $80,000? I'm confused. Shouldn't it be progress towards peace IS POSSIBLE, then therefore Bitcoin will surge to $80,000?

 ¯\_(ツ)_/¯

[Coyster]

Well I mean if something like that actually happens, which i believe it would, it would definitely draw a lot of attention to Bitcoin, especially from a geopolitical angle.

I don't know what other attention you want to be drawn to bitcoin. Everyone already knows bitcoin is decentralized and censorship resistant, and any entity can use it without permission or approval. That said, i don't think any vessel would be paying Iran anything for passage, be it in bitcoin or in fiat, because the U.S. also have their own blockade in place to prevent such vessels from going through.

[Wind_FURY]

Well I mean if something like that actually happens, which i believe it would, it would definitely draw a lot of attention to Bitcoin, especially from a geopolitical angle.

I don't know what other attention you want to be drawn to bitcoin. Everyone already knows bitcoin is decentralized and censorship resistant, and any entity can use it without permission or approval. That said, i don't think any vessel would be paying Iran anything for passage, be it in bitcoin or in fiat, because the U.S. also have their own blockade in place to prevent such vessels from going through.

Plus Iran may have fired a rocket on a ship or two, but I don't believe that they are stupid enough to do again if a ship started crossing the Strait of Hormuz. They don't want those other countries to start a sympathetic alliance with the United States and sail their own warships to the Middle East.

Australia and Japan will start sending their own if Iran actually believes that they are in control of the situation.

[Coyster]

They don't want those other countries to start a sympathetic alliance with the United States and sail their own warships to the Middle East.

That's very correct. Other than Israel, the rest of the world have been an observer in this war, even when Trump called for support in the waterway, it was declined by NATO, U.K. and others. But if Iran continues to attack vessels in the Strait and hurting the economies of so many countries, they could push them to get involved only in the waterway. I doubt it would get to that, but Iran must also be smart and not overestimate the sort of control they have in the Strait of Hormuz. They already made enemies of most of their neighbors, they don't want to extend that.

[justdimin]

The IRGC attacks and fires on ships-all except its “allies.” And these aren’t friendly Arab nations; this is China, one of the key consumers of Iranian oil. The rest of the ships are, in most cases, subjected to terrorist attacks. Terrorist attacks, specifically, because an armed attack on civilian ships in international waters is terrorism. The U.S. doesn’t lay mines in the strait, doesn’t shoot up tankers, and doesn’t fire missiles at every ship within range. I hope I’ve explained the difference clearly?

What do you call USA dropping bombs and missiles on kids? I am not going to talk about innocent civilians, because you will just be fed propaganda enough to think that even innocent adult male is not innocent and will assume they are all terrorists. But USA killed people in Iran that was literally against Iranian regime, because you do not look at anyone and care who they are, you just bomb them all.

I am not sure if your tv channels are airing this or not, but USA already killed thousands of innocent people. Compared to that? Iran is just shooting ships, that they said can't leave, that's it. I would say who is more evil in this war is a lot more clear to me. I would hope to see Iran regime change, and a democratic secular one took its place, but at the same time, just because I hate Iranian regime, doesn't mean I believe USA is doing something just. You guys are as much of a terrorist as they are.

[DrBeer]

The IRGC attacks and fires on ships-all except its “allies.” And these aren’t friendly Arab nations; this is China, one of the key consumers of Iranian oil. The rest of the ships are, in most cases, subjected to terrorist attacks. Terrorist attacks, specifically, because an armed attack on civilian ships in international waters is terrorism. The U.S. doesn’t lay mines in the strait, doesn’t shoot up tankers, and doesn’t fire missiles at every ship within range. I hope I’ve explained the difference clearly?

What do you call USA dropping bombs and missiles on kids? I am not going to talk about innocent civilians, because you will just be fed propaganda enough to think that even innocent adult male is not innocent and will assume they are all terrorists. But USA killed people in Iran that was literally against Iranian regime, because you do not look at anyone and care who they are, you just bomb them all.

I am not sure if your tv channels are airing this or not, but USA already killed thousands of innocent people. Compared to that? Iran is just shooting ships, that they said can't leave, that's it. I would say who is more evil in this war is a lot more clear to me. I would hope to see Iran regime change, and a democratic secular one took its place, but at the same time, just because I hate Iranian regime, doesn't mean I believe USA is doing something just. You guys are as much of a terrorist as they are.

If you can prove that this was a deliberate strike on a school, that would be a valid argument. But remember-in any war, no matter how just, innocent civilians caught in the line of fire very often become victims.
This does not justify targeted strikes on peaceful cities, civilian facilities, civilian infrastructure, or power grids that provide civilians with light, heat, and water-this is pure terrorism, no question about it!

By the way-why do you forget to speak with the same outrage about explosions in shopping malls and markets, or the killing of civilians in other countries, such as Israel or the EU? Or are these different people, different rules?
And why do you talk about Iran firing on ships but not about Iran firing on neighboring countries that aren’t involved in this war at all? Do you have a selective truth?
And one more question-show me your post on the forum where you accuse the Iranian regime of the systematic murder of hundreds of thousands of Ukrainian civilians, the destruction of hospitals, schools, kindergartens, stores, and simply murdering ordinary people on the streets with Iranian Shahed drones and missiles, which, since 2022, the Iranian regime has been generously supplying to the terrorist state of Russia, which is waging a terrorist war after invading Ukraine in 2014? Your answer will show how honest you really are in assessing the situation....

I await your response!



But let’s get back to the heart of the matter. Payment in Bitcoin and other cryptocurrencies solved the problem before the start of the special military operation, as it made it possible to trade oil and weapons while circumventing sanctions.
Now that it turns out two players can play the “blocking the Strait of Hormuz” game, it turns out that Iranian oil can’t really leave the terminals and reach the buyers who paid for it with Bitcoin.
And today, another question arises: if Iran is still finding floating storage facilities to stockpile oil, what will happen when they run out? Dump the oil into the strait? Shut down the wells?