Iran starts Bitcoin-backed ship insurance for Hormuz strait

bloomberg.com

235 points by srameshc 7 hours ago


https://finance.yahoo.com/markets/crypto/articles/iran-start...

everdrive - 6 hours ago

Much of the post-WW2 American-led world order was founded partially on the United States using its military to keep international waters open. It would be quite stunning Iran defeated the united states in this sense. The military might is there, but this administration clearly had no idea what they were getting themselves into and did not plan accordingly. (and does not have the will or public support to do so)

The baffling part of this is that nearly everyone was aware that Iran could close the straight if pressed hard enough. The fact that this outcome is surprising represents a very loud and public failure on the administration's part.