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[–] 52 points 5 months ago (2 children)

The point here is say you are in business with X party but it's illegal. X party can buy an nft worth nothing or generate one. You buy the NFT for the amount of your bill with X party. You've now technically not paid them for whatever illegal thing, instead you bought an nft from them. You could also break this down into multiple NFTs, buying 100 $100 NFTs from various "owners" that don't link back to X party through shell companies, and you've now paid them $10,000 "for pictures of chimps".

NFTs only exist for money laundering and illicit transfers. Once they've been transferred their value no longer matters, the business has been done.

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  • [–] 11 points 5 months ago (1 child)

    NFTs only exist for money laundering and illicit transfers

    And at least to some degree scamming people even if that's not the main focus. I know a few people that got full on scammed by it

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  • [–] 5 points 5 months ago (1 child)

    Thank you! Now for the first time, i finally see the slightest sense in NFTs. I really didn't get it from the start. I heard various explanations and they never made any sense to me. Left me confused every time until now.

    Its just a mask for a deal in the background. Ok now i get it.

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  • [–] 10 points 5 months ago

    Yep.

    My buddy once went to a farmer’s market where they weren’t allowed to sell beer, but they were allowed to give it away. So he did the oldest trick in the book: scooped up a bunch of rocks in a box, put up a sign that said “Rocks $5,” and “Free beer with purchase of rock.”

    NFTs are just the rock.

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