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Money laundering. Just like those crypto bros that paid a million dollars, at auction, for a copy of Dune worth 30k. Buyer and seller are same. Money laundering
by irthomasthomas 5y ago
Money laundering. Just like those crypto bros that paid a million dollars, at auction, for a copy of Dune worth 30k. Buyer and seller are same. Money laundering.
- missedthecue 5y agoMoney laundering is when you need to turn ill-gotten paper cash into believably legal profit. Can you explain to me the mechanics about how money laundering like this would work?
- irthomasthomas 5y agoYou raise 3 million USD for your ICO, or NFT business. Instead of using money to run the business as advertised, you make a dumb, massively inflated purchase, from a friend, who secretly hands the money back to you. Con complete. Game over. Insert coin to play.
- irthomasthomas 5y agoOr a regular business had a lot of cash on hand, and the CEO wants a chunk of that cash for himself, without doing lots of paperwork. He uses a friend, or a fake account to buy NFTs of some random dudes head. Later he sells them on to his business for a cool mill profit.
- missedthecue 5y agoHow does one buy an NFT with cash?
- missedthecue 5y agoThat's not money laundering.
- doopy1 5y ago"Money laundering" is just hand waving. Not the case. If it was, it would be easy to prove.
- netizen-936824 5y agoYea honestly this is that level of absurdity I find 100% believable on the internet
- wy35 5y agoI’m definitely a web3 skeptic, but honestly, I’d love to own one of these NFTs for sheer novelty purposes. It’s some random dude’s face, that’s pretty hilarious. So I doubt it’s all money laundering.