NFT Art still a viable option?

Its not as easy as one might think but let me explain...

If you ask me NFTs are still a great option to launder but youve gotta be careful with it (as with every laundering method).

SInce you are asking the question I hope you understand the basics of it. You make a genuine NFT and then sell it to a non-KYC account which is holding your dirty crypto that youve got from selling lemonade on the side of the road obviously... :)

Okay so the problem I see with this is simply the fact that its not realistic enough... imo you should make 3-4 account which acoount buy the asset for a gradually increasing amount, this will make it more convincing for anyone watching your steps. The art this way also gains more positive recognition and someone dumb enough might even buy it off of you in the end but dont hope too much on that. Also watch a few YT videos on the basics of NFTs and the whole thing so that youre not a dumbass when someone asks you about it.

Ofc any account that touches dirty money is made on non-KYC platform and between the transactions give it some time man, dont rush the process and do it in one day but instead in a month of steady processes... no need to rush it beacause it will again get some wrong type of extra attention and thats what you dont want

In the end you hold it a bit and of course pay your taxes on it and take it out to a bank account belonging to you.

PRO TIP:

If you wanna make it legit and wanna use the KYC account for longer then just hire someone to do the work for you and they will make you a real NFT with purpose and not just a JPEG. Id recommend linking it with some shit coin that can be created in 5 minutes and or just make some cool story up behind it and it will make it a million times more legit.

This is just a brief summary of the method, but its undertandable enough i hope. Once youve done all of that in the end youve turned your dirty XMR into clean ETH and also became a artist in the process :)

The downside is pretty obvious from the start, and that is that the amount that can be laundered is not unlimited... maybe after some time 20-30k can be laundered monthly on one account, if you do waay more then youre gonna raise some red flags. If you ask me for the work you put in its a great return so this is why i still think its a great method.

If i left out something then feel free to correct me or add to it, and if anyone is more interested then i can make a whole separate post about it!
 
cashfish said:
Its not as easy as one might think but let me explain...

If you ask me NFTs are still a great option to launder but youve gotta be careful with it (as with every laundering method).

SInce you are asking the question I hope you understand the basics of it. You make a genuine NFT and then sell it to a non-KYC account which is holding your dirty crypto that youve got from selling lemonade on the side of the road obviously... :)

Okay so the problem I see with this is simply the fact that its not realistic enough... imo you should make 3-4 account which acoount buy the asset for a gradually increasing amount, this will make it more convincing for anyone watching your steps. The art this way also gains more positive recognition and someone dumb enough might even buy it off of you in the end but dont hope too much on that. Also watch a few YT videos on the basics of NFTs and the whole thing so that youre not a dumbass when someone asks you about it.

Ofc any account that touches dirty money is made on non-KYC platform and between the transactions give it some time man, dont rush the process and do it in one day but instead in a month of steady processes... no need to rush it beacause it will again get some wrong type of extra attention and thats what you dont want

In the end you hold it a bit and of course pay your taxes on it and take it out to a bank account belonging to you.

TIP FOR:

If you wanna make it legit and wanna use the KYC account for longer then just hire someone to do the work for you and they will make you a real NFT with purpose and not just a JPEG. Id recommend linking it with some shit coin that can be created in 5 minutes and or just make some cool story up behind it and it will make it a million times more legit.

This is just a brief summary of the method, but its undertandable enough i hope. Once youve done all of that in the end youve turned your dirty XMR into clean ETH and also became a artist in the process :)

The downside is pretty obvious from the start, and that is that the amount that can be laundered is not unlimited... maybe after some time 20-30k can be laundered monthly on one account, if you do waay more then youre gonna raise some red flags. If you ask me for the work you put in its a great return so this is why i still think its a great method.

If i left out something then feel free to correct me or add to it, and if anyone is more interested then i can make a whole separate post about it!
Click to expand...
That is almost exactly what I was thinking, others are saying its not viable which is a bit confusing its hard to tell if they don't know what they are talking about or if its a bad idea.
 
A simple way to look at it is that the only thing that makes an NFT valuable is the combination of the underlying tech and its use. It is never valuable by itself. Buying NFTs is stupid. However, if you incorporate NFTs into your computer game or whatever you can make it valuable but it isn't valuable by default and the potential state is only valuable unless there isn't another shitcoin that offers the same function.
 
blacksteak225 said:
A simple way to look at it is that the only thing that makes an NFT valuable is the combination of the underlying tech and its use. It is never valuable by itself. Buying NFTs is stupid. However, if you incorporate NFTs into your computer game or whatever you can make it valuable but it isn't valuable by default and the potential state is only valuable unless there isn't another shitcoin that offers the same function.
Click to expand...
How is it any different to laundering money through regular art?

I don't see the difference, its valuable if the person likes the art.
 
versacestove said:
How is it any different to laundering money through regular art?

I don't see the difference, its valuable if the person likes the art.
Click to expand...
Art is only worth something if it is worth something. If you are the type of person who doesn't understand the difference of a valuable piece of art and a worthless piece of art you should refrain from any investments in that area (hint: it has nothing to do what you feel about it).
 
You must log in or register to reply here.

Users who are viewing this thread

Total: 1 (members: 0, guests: 1)
Back
Top
[FOX] Ultimate Translator
Translate