<story><title>How Iran Uses Bitcoin Mining to Evade Sanctions and “Export” Oil</title><url>https://www.elliptic.co/blog/how-iran-uses-bitcoin-mining-to-evade-sanctions</url></story><parent_chain><item><author>asddubs</author><text>political implications aside, it still seems so crazy that here we&amp;#x27;re just burning 10 million barrels a year on doing nothing useful at all</text></item><item><author>gnfargbl</author><text>Prior to the re-imposition of US sanctions, Iran was producing around 1400 million barrels of oil per year and exporting around 800 [1]. The article says that Iranian Bitcoin mining is currently consuming the equivalent of around 10 million barrels per year.&lt;p&gt;At a consumption rate of ~1% of the potential exportable amount, this doesn&amp;#x27;t seem like a particularly significant evasion of sanctions.&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.bbc.com&amp;#x2F;news&amp;#x2F;world-middle-east-48119109&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.bbc.com&amp;#x2F;news&amp;#x2F;world-middle-east-48119109&lt;/a&gt;</text></item></parent_chain><comment><author>logicchains</author><text>&amp;gt;political implications aside, it still seems so crazy that here we&amp;#x27;re just burning 10 million barrels a year on doing nothing useful at all&lt;p&gt;The Iranian people impoverished by sanctions would beg to differ (no pun intended).</text></comment>
<story><title>How Iran Uses Bitcoin Mining to Evade Sanctions and “Export” Oil</title><url>https://www.elliptic.co/blog/how-iran-uses-bitcoin-mining-to-evade-sanctions</url></story><parent_chain><item><author>asddubs</author><text>political implications aside, it still seems so crazy that here we&amp;#x27;re just burning 10 million barrels a year on doing nothing useful at all</text></item><item><author>gnfargbl</author><text>Prior to the re-imposition of US sanctions, Iran was producing around 1400 million barrels of oil per year and exporting around 800 [1]. The article says that Iranian Bitcoin mining is currently consuming the equivalent of around 10 million barrels per year.&lt;p&gt;At a consumption rate of ~1% of the potential exportable amount, this doesn&amp;#x27;t seem like a particularly significant evasion of sanctions.&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.bbc.com&amp;#x2F;news&amp;#x2F;world-middle-east-48119109&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.bbc.com&amp;#x2F;news&amp;#x2F;world-middle-east-48119109&lt;/a&gt;</text></item></parent_chain><comment><author>base698</author><text>Think about the barrels burned by the tanks and planes in the middle east.  The proof of work for the petro dollar is the military.</text></comment>