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It’s staged just like the NFT auctions. Bootstrapping demand by fabricating a sale between two cooperating parties.
by dreyfan 5y ago
It’s staged just like the NFT auctions. Bootstrapping demand by fabricating a sale between two cooperating parties.
- choward 5y agoBasically just the start of another pump and dump scheme.
- lapetitejort 5y agoI've been a game collector for several years now. At the start of the pandemic, when every other other collectible started rocketing up in price, retro video games were no exception. Some games have doubled or tripled in price. However I'm not sure how susceptible they are to pump and dump schemes. They are fairly large physical objects, compared to trading cards and digital goods. The auction process and shipping takes takes days for one item to move. You can sell them to retro stores, but only for about 30% of their ticket price. Prices have remained stable according to reliable trackers [0]. 0: https://www.pricecharting.com/game/super-nintendo/earthbound https://www.pricecharting.com/game/super-nintendo/earthbound
- chadcmulligan 5y agoWon't they have to pay tax on that though?
- finnh 5y agoThat's the point - you launder money by paying taxes on it.
- pdpi 5y agoYou launder the money by inconspicuously inserting into legitimate accounting. The whole point is that you’re trying to avoid attention. The taxes are an unfortunate side effect. An auction that makes the news is nothing if not conspicuous. It’s tantamount to lighting a sign and saying “follow the money trail starting here”
- phendrenad2 5y agoI don't think that's the point in GP's post. I think GP means they stage a big "sale" and make headlines, so people start looking for mint condition N64 games, already primed to think of them in terms of millions instead of thousands of dollars. Conveniently, they would have bought up all of the rare games before this.
- icebraining 5y agoOnly if money actually changed hands...