Iran demands Bitcoin fees for ships passing Hormuz during ceasefire

Re:Iran demands Bitcoin fees for ships passing Hormuz during... by gustavus on Wednesday April 08, 2026 @11:04AM (#47691237)

So apart from all the geopolitics of it this line is interesting

"few seconds to pay in bitcoin, ensuring they can’t be traced or confiscated due to sanctions,’ Hosseini added"

Maybe I'm ignorant of Bitcoin but isn't Bitcoin transactions recorded in a public cryptographically signed ledger? Isn't that literally the opposite of "can't be traced"?

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Re:Iran demands Bitcoin fees for ships passing Hormuz during... by zulux on Wednesday April 08, 2026 @11:14AM (#47691374)

And if you knew the manifests (quantity of oil) for the ship, just the value of the bitcount transaction could be used for tracking.

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Re:Iran demands Bitcoin fees for ships passing Hormuz during... by mbreese on Wednesday April 08, 2026 @12:37PM (#47692604)

Or, if you knew the bitcoin addresses, you could figure out exactly how much oil is being moved. I would think oil data analysts would love to have access to that data (if they don't already).

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Re:Iran demands Bitcoin fees for ships passing Hormuz during... by Esophagus4 on Wednesday April 08, 2026 @01:14PM (#47693211)

It’s like those podcasters that figure out who’s dating whom by looking through their Venmo.

We just need to watch for large transactions with the Iranian flag and boat emojis…

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Re:Iran demands Bitcoin fees for ships passing Hormuz during... by dragonelite on Wednesday April 08, 2026 @01:58PM (#47693877)

There a whole industry called on chain analysis that do this sort of work.

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