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If buying a virtual good from oneself at any arbitrary price was easy, money laundering would be solved problem for criminals, regardless of NFTs or not, wouldn
by sabellito 5y ago
If buying a virtual good from oneself at any arbitrary price was easy, money laundering would be solved problem for criminals, regardless of NFTs or not, wouldn't you agree?
- aj3 5y agoThat's exactly what's happening right now. But before NFTs the most plausible ways were either opening a business accepting crypto (not unlike meatspace money laundering involving cash-accepting businesses) or having lucky strikes on gambling platforms (where you can play against yourself). For a larger operation going business route is still preferable but on an individual level NFTs are much easier due to ridiculously high margins that have been normalized there.
- sabellito 5y agoHow do you know this is exactly what's happening right now? Do you work in the sec space or with tax authorities? I'm genuinely asking, as I'm a layperson in regards to these subjects, and, in my ignorance, I don't see the difference between that and, say, Counter Strike skins selling for 15k USD. To my understanding, all these things leave simple 1-1 paper trails that can be followed later and lead to consequences, but I might certainly be wrong. I'm trying to separate people who simply don't like cryptocurrencies and NFTs (which might be your case, I don't know) from actually informed thoughts about what's happening.