Pour buttermilk into a large bowl and add hot sauce, stir until combined. Add oysters and stir to coat oysters.
Place bowl in the refrigerator and allow to soak for at least an hour.
After oysters have soaked take them out of the refrigerator and set aside while you prepare the breading.
Pour oil into a large cast iron pot or Dutch oven until it is about two inches deep and heat to 350°. In a medium bowl add flour, old bay seasoning, cayenne pepper, dill weed, pepper, and salt; toss until combined. Take two spoonfuls of buttermilk, pour into flour mixture and toss. This will provide texture.
When oil is heated take oysters from buttermilk letting excess drip off and coat in flour mixture.
Carefully place oysters into oil, you can fry 3-4 at a time.
Fry oysters until they are golden brown; about 3-4 minutes.
Take oysters out and place on a paper towel to soak up any excess oil.
Serve hot with dill dipping sauce.