That’s not how it goes. Laundering works because you don’t have to report the sale, you just have to report the income. If you can track the sale then laundering never will work.
This has got to be the most naive statement on crypto and laundering.
Crypto are so easily laundered not because of traceability but because of the huge and rapid swings in value, Unexpected wealth is easily justified.
Large sums are easily laundered by scripting thousands of transactions.
Most people who bought them are likely still in the green compared to holding the cryptocurrency they used to purchase them, which itself is with more than the USD used to purchase the crypto.
Wow some clowns spent nearly half a million on some of the laziest JPGs ever drawn. Wish I had been in on a grift like that. If someone can afford to spend that much on a PNG they don’t need the money so it is basically victimless.
God, remember when links to pictures of monkeys were selling for millions and rubes ate it up?
It was not ‘pictures of monkeys’ it was art. It was digital art. If you don’t get that then you don’t understand money laundering.
Monkey laundering.
Coming to FX next this fall
Sitcom of chimps in the big city running a shady laundromat.
How much can a virtual banana cost, Michael? Ten dollars?
I read that as monkey laundering
You can’t money launder with bitcoin. The whole purpose is that everything is traceable.
That is how you launder money with art and Bitcoin.
Because it’s normally suspicious if someone gives $1mil for no reason, but if you know it’s for a monkey jpeg, then it’s normal.
I have no idea if it attracted the attention of any regulatory body but yeah that’s pretty much how it went down as far as I know
That’s not how it goes. Laundering works because you don’t have to report the sale, you just have to report the income. If you can track the sale then laundering never will work.
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This has got to be the most naive statement on crypto and laundering. Crypto are so easily laundered not because of traceability but because of the huge and rapid swings in value, Unexpected wealth is easily justified. Large sums are easily laundered by scripting thousands of transactions.
https://syntheticdrugs.unodc.org/syntheticdrugs/en/cybercrime/launderingproceeds/moneylaundering.html
I still want to know how much money my wife’s dumb ass ex-boss lost when the bubble burst. I think he was in the mid 6 figure range.
Most people who bought them are likely still in the green compared to holding the cryptocurrency they used to purchase them, which itself is with more than the USD used to purchase the crypto.
So you’d probably be disappointed.
wat
No man, it’s still worth that much! As long as I don’t sell and realize the losses I’m in the green!
Wow some clowns spent nearly half a million on some of the laziest JPGs ever drawn. Wish I had been in on a grift like that. If someone can afford to spend that much on a PNG they don’t need the money so it is basically victimless.
But it also come with extra privileges like going to exclusive parties where powerful UV lights can cause eye damage
And aren’t the bored apes the ones that somewhat held their value over time ? I heard somewhere that all the other
jpgsNFTs plummeted even harderNo