He said that the tariff is $1 per barrel of oil, adding that empty tankers can pass freely. “Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” Hosseini added.
It takes 10 minutes to get a single confirmation, but I’m assuming that it takes more than 10 minutes for a ship to transit this waterway, so it wouldn’t matter.
Yeah, but the article says they have seconds to pay with bitcoin.
Something tells me the article doesn’t understand the way Bitcoin works. A transaction takes 10 minutes to clear on-chain, unless you’re using the lightning network, and the lightning network is fucking terrible, especially for high-value transactions like this. Because you can be rug-pulled. That and you can’t send high-value transactions on a lightning network because every link in the chain has to have the proper amount of liquidity to make that transaction occur.
I don’t imagine trying to trick Iran out of their money is a particularly good long-term strategy anyway. Nothing unless you’re going to turn up in a new ship every time.