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Ok let's cut through the crap. The nft craze is BTC oldtimers who are finding new and faster ways to launder them, no?
by cblconfederate 6y ago
Ok let's cut through the crap. The nft craze is BTC oldtimers who are finding new and faster ways to launder them, no?
- wwalexander 6y agoJust like the absurdly wealthy buy and sell fine art to launder money and avoid taxes! [1] Blockchain technologies are exceedingly efficient at replicating real-world inequality, privilege, waste, and inconsistency; no wonder they’ve gotten so much traction among the already absurdly wealthy. [1] https://www.ft.com/content/a5beb8e2-5334-11ea-90ad-25e377c0ee1f https://www.ft.com/content/a5beb8e2-5334-11ea-90ad-25e377c0e...
- cblconfederate 6y agoI think they became wealthy and privileged after it got traction
- Traster 6y agoI think this obsession with money laundering is kind of absurd. Firstly the entire point of these technologies is it’s a permanent record so authorities could track you down any time. Secondly they’re grabbing tonnes of headlines which is the opposite of what money launderers want. Thirdly there are already plenty of ways to launder money. The truth is it’s much more likely the frothy Bitcoin market is overflowing into other similar products - almost all the most recent news making headlines have been about transactions amongst people who gained all their wealth through Bitcoin in the first place. It’ll go to 0 next time Bitcoin does, and whilst Bitcoin will probably bounce back, lots of these new shitcoin alternatives won’t.