A Bitcoin bust that took down the web’s biggest child abuse site

Re:A Bitcoin bust that took down the web’s biggest child abu... by colinmhayes on Friday April 08, 2022 @07:03PM (#30963553)

NFTs are perfect for money laundering because

1. their value is completely arbitrary

2. The launderer can buy an artists whole collection, and legitimately sell some for more than they were bought for since everyone can see the artists NFTs are selling for huge sums

3.NFTs can pay the minter a percentage every time they're sold.

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Re:A Bitcoin bust that took down the web’s biggest child abu... by nyolfen on Friday April 08, 2022 @10:12PM (#30964686)

besides #3 this also describes the conventional art world

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Re:A Bitcoin bust that took down the web’s biggest child abu... by 542458 on Friday April 08, 2022 @11:29PM (#30965055)

The conventional art world generally has more requirements in terms of reporting. Also, in the conventional art world people would be extremely suspicious if all of an artist’s works were bought up by anonymous individuals and nearly immediately turned around for significant profit - but with NFTs it’s par for the course.

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Re:A Bitcoin bust that took down the web’s biggest child abu... by colinmhayes on Friday April 08, 2022 @10:42PM (#30964845)

Except they’re easier to transport.

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Re:A Bitcoin bust that took down the web’s biggest child abu... by otterley on Saturday April 09, 2022 @02:06AM (#30965605)

Yes, and?

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