News for hackers. Stuff that matters.

A comment on Generating $32,000 in 30 days selling a crypto-filled USB stick. Parent comment

Re:Generating $32,000 in 30 days selling a crypto-filled USB... by stale2002 on Thursday March 29, 2018 @03:54PM (#16710503)
It is not a lottery.

They are giving random RATIOS of cryptocurrency, that add up to the amount of USD that you pay.

So if you pay 200 dollars, you could get 100$ of litecoin and 100$ of ethereum. OR you could recieve 25$ of doge + 175$ of Bitcoin. (both add up to 200$ USD. Minus their fee obviously)

That's not a lottery. It is a fixed amount of USD value.

[ Parent | on HN ]
Re:Generating $32,000 in 30 days selling a crypto-filled USB... by ceejayoz on Thursday March 29, 2018 @04:03PM (#16710564)
By the time you get it in the mail, it might be double. Or half.

I wouldn't want to have to try to explain the volatility of altcoin markets to a grumpy Florida lottery regulator looking to charge you with something.

[ Parent | on HN ]
Re:Generating $32,000 in 30 days selling a crypto-filled USB... by stale2002 on Thursday March 29, 2018 @06:15PM (#16711593)
Cryptocurrencies are treated exactly the same as commodities, legally.

So it would be the same thing as if you shipped bars of gold and silver to someone.

It really isn't complicated.

[ Parent | on HN ]
Re:Generating $32,000 in 30 days selling a crypto-filled USB... by JonDav on Friday March 30, 2018 @02:34AM (#16714169)
Have you personally dealt with receiving commodities like gold from CME group or something? My understanding is it is not simple at all. But would love to hear a person's first hand experience.
[ Parent | on HN ]