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Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by srean on Monday May 18, 2026 @01:44PM (#48182861)
Bitcoin does make the transaction publicly traceable. Either they have not realised that, seems unlikely, or they prefer it that way.
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by misja111 on Monday May 18, 2026 @01:49PM (#48182925)
It's not about traceability, it's about not having to use the dollar as currency.
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by srean on Monday May 18, 2026 @01:52PM (#48182982)
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.

Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by bdangubic on Monday May 18, 2026 @01:59PM (#48183089)
What would be a reason to money launder the inflow?!?
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by srean on Monday May 18, 2026 @02:01PM (#48183125)
I have no clue.
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by Waterluvian on Monday May 18, 2026 @01:52PM (#48182981)
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.
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by hggh on Monday May 18, 2026 @02:07PM (#48183236)
> Bitcoin does make the transaction publicly traceable

It can be untraceable with CashFusion

Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by taffydavid on Monday May 18, 2026 @02:30PM (#48183572)
I read that as coldfusion and I got some ptsd
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by freerk on Monday May 18, 2026 @04:28PM (#48185141)
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.
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by hggh on Tuesday May 19, 2026 @07:50AM (#48192112)
Value doesn't have anything to do with utility
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by pamcake on Tuesday May 19, 2026 @08:21PM (#48201464)
In this case it does. You can't funnel huge amounts through a coin with usually small volume and market cap and expect any sense of anonymity or privacy. The delta makes it obvious. It would probably be visible via movements on markets too.

For smaller amounts this is not a problem for the same coin and network.

Your volume might support $10k but not $10m.

Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by hggh on Wednesday May 20, 2026 @02:36AM (#48203903)
Take a look at the statistics: https://fusionstats.redteam.cash/
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by pamcake on Wednesday May 20, 2026 @03:54PM (#48213203)
What of it?

You are not responding to the debunking of your "Value doesn't have anything to do with utility" claim.

The only relevant thing I can see here is that yes, the volume is too low to provide any sense of untracability for the scenario discussed. It might for paying your VPN subscription.

Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by hggh on Thursday May 21, 2026 @02:37AM (#48218721)
> What of it? Sort by value and see for yourself

> You are not responding to the debunking Opinions don't debunk. Proof does.

Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by tboyd47 on Monday May 18, 2026 @01:52PM (#48182969)
What difference does it make?
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by krupan on Monday May 18, 2026 @02:15PM (#48183351)
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.
Re:Iran starts Bitcoin-backed ship insurance for Hormuz strait by thisisit on Monday May 18, 2026 @04:19PM (#48184999)
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...