If Iran uses Bitcoin to transport oil,
then there are some potential minor problems that could arise, what are the solutions? Or if there are no solutions, these are the things to consider!
Firstly , I think you're missing something about the new regulatory shift. The new directive is that Bitcoin will be used for settlement not logistics. So using "transport" is wrong because Bitcoin will only be used to handle the payment side not the not the physical trade.
In my opinion, the obstacles that could arise are:
# Using petrodollars could cause instability in the market!
The market at the moment doesn't even seem to be stable. So I think it’s more about changing the current power structure. Any shift away from the petrodollar will definitely feel unstable at first.
# A stable currency could be needed for various contracts!
I agree with you on this. The volatile nature of Bitcoin makes it hard to use directly for long-term agreements. I strongly doubt that there's anyone who would want to deal with price swings when signing long-term deals.
# Long-term logic could be problematic!
It'll only be problematic or will I say risky if Bitcoin is used as the pricing unit but if it’s just used to settle payments then I don't see it as a problem.
# Price control could be a problem!
I disagree with you on this. Bitcoin actually removes control rather than creating problems. I think that's the major one the reasons the Iranian authorities decided to use it in the first place.
# Mining could waste a lot of energy!
Your concern here is more like a general Bitcoin argument. It’s not really tied to whether it is used for oil trade or not. You need to understand that a lot of mining activities runs on cheap or excess energy that would've still been unused.
