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.
It is with a heavy heart I announce the sale of my long term ape, Salazar. Most of my early followers know me as this ape. My kids know me as this ape. I met my wife when I WAS this ape and had my first kid when I was still proudly wore this ape. By extension, it is part of me.
I’m sure his wife and kids are deeply relieved by this news.
Yeah, but those aren't required dress code or anything. Most of us just make some shit up out of our heads that sounds cool and go with it. Then we'll fill all our online gaming and social media account profiles with it.
I mean, ha ha funny joke, but realistically, yes. Someone with no money and no friends or family with money is a waste to advertise to. You fly under the radar by virtue of being a statistically bad investment. You'll still get hit with all the same shotgun-style advertisement that the rest of us do, but you're unlikely to find yourself being a priority for targeted advertisement. It's a little bit of a silver lining to an unhappy situation.
When a homeless person asks me for money and I tell them I'm unemployed and live on the basic income the state gives me they say they're sorry and wish me good luck, they know lol
Collecting Magic: the Gathering cards works much the same way, except you at least have some tangible cardboard with a highly variable price instead of a digital token signifying you own the concept of an ugly piece of digital art at the end of a day.
I wasted 15 minutes of my life to understand why he is staying that "blur" is crashing the price of that jpg
It looks like that there's a new nft marketplace that created some shitcoin as a reward for users. When someone trades a jpg , the platform print this worthless monopoly money and give as a reward for the user. Because there's dumb people that is buying this monopoly money thinking that surely it would be worth something, whales are exchanging those jpgs between them in order to get the free monopoly money as a gift, so they can dump them immediately and buy more jpgs to exchange.
I can think of a few other reasons other than the technology being new. But considering the general enshittification our civilization is going through, I can agree that this may be where it's headed.
A decentralized ownership platform would be good for consumers. Currently all digital rights management is centrally managed by corporations and that ownership is revoked or lost when the company is sold or goes out of business.
We are talking about the topic you brought up - digital rights management. The thing that prevents you from using software (or, nowadays, even hardware) without a license is not some magical karma woven into the fabric of the universe. It's code that the companies put in their product. No matter how much blockchain technology improves and not matter how much popular it gets - you still need these companies to actively implement NFT based DRMs. Why would they do that? Why would they relinquish control over their product? I jokingly said earlier that it'll happen because the trend is to make everything worse, but companies that make their product worse do it to gain more control over their users and extract more money from them.
EDIT: I'm surprised to be getting so many downvotes on this. Are people under the impression they own movies and music they download through torrents? Again, obviously there is a difference between "I have this digital content" and "I own this digital content"
I'm out of the loop here, how does ownership actually impact the world in these cases? If I buy an nft image do I own the copyright to it? Do I get legal control over its use? What's the deal here? I see a lot of talk about ownership of a digital asset but I have thousands of digital images stored and I don't get why a blockchain is needed in the situation?
Again, that's obviously not how ownership works. You can download movies and music too. Doesn't mean you own them. If your argument is "it doesn't stop piracy" I'm not disagreeing with that.
I didn't say that. You genuinely don't understand what NFTs are or how any kind of "ownership" works with them. I don't blame you for your ignorance because that's how they sell them. I blame you for passionately defending your ignorance instead of learning the actual, objective truth
Blockchain (assuming that's what your digital receipts are based on) has no concept of identity. They're anonymous by design. Because of that, the concept of "ownership" doesn't really jive with blockchain, because the concept of "ownership" is inherently based on identity. All blockchain is good for is "yes, this transaction is valid", or "no, this transaction is invalid", where a "transaction" is simply the transfer of digital goods (cryptocurrency, nfts, whatever else) from one crypto wallet to another. Anyone with the keys to a particular crypto wallet can access the contents of said wallet, whether they "own" it or not.
So yes, the receipt cannot be forged. The receipt is next to useless though, because all it says is "here's a record of this valid transaction between these two crypto wallets" - there's no record of real, actual ownership or identification involved. And at the end of the day, bits are bits. You can wave your receipt at me all day and claim your bits are the "real" ones, but they're no different from my bits that I downloaded from Twitter.
No they can't. They can cryptographically prove that a particular transaction on the ledger is valid. That transaction is not linked to an identity, by design, so it means absolutely nothing as far as ownership goes.
Buddy, you don't know what you're talking about. Private key signatures have been used to prove identities for decades. Do a little research on the basics of digital cryptography before speaking on the subject.
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.
Run this on Adult Swim and I'll consider watching it.
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.
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
What?
https://twitter.com/vydamo_/status/1773491625957924883?s=20
I’m sure his wife and kids are deeply relieved by this news.
What a scam, my fursona didnt cost me anything
Fursuits are expensive AF, but they are quality products custom made by skilled artisans.
Yeah, but those aren't required dress code or anything. Most of us just make some shit up out of our heads that sounds cool and go with it. Then we'll fill all our online gaming and social media account profiles with it.
During dating: "and then i spent $300k to buy this monkey jpg..."
Wow, if this is actually sincere and not a gift of some kind... this person is really sad and pathetic.
Most scams prey on people with more money than friends.
Ohhh so they don’t target me because I don’t have either!
I mean, ha ha funny joke, but realistically, yes. Someone with no money and no friends or family with money is a waste to advertise to. You fly under the radar by virtue of being a statistically bad investment. You'll still get hit with all the same shotgun-style advertisement that the rest of us do, but you're unlikely to find yourself being a priority for targeted advertisement. It's a little bit of a silver lining to an unhappy situation.
Oh don’t worry I was cutting along the ‘funny because it’s true’ line.
Some of the shotgun stuff would get me, if I could buy basic amenities without crying.
I’m full on with team silver lining, I have a roof, for now.
When a homeless person asks me for money and I tell them I'm unemployed and live on the basic income the state gives me they say they're sorry and wish me good luck, they know lol
Yep, every single time. If I have some smokes I don’t mind sharing though, at least.
I'm sooo glad I don't smoke, I don't know how I didn't start
I must be invulnerable to scams then
Collecting Magic: the Gathering cards works much the same way, except you at least have some tangible cardboard with a highly variable price instead of a digital token signifying you own the concept of an ugly piece of digital art at the end of a day.
I wasted 15 minutes of my life to understand why he is staying that "blur" is crashing the price of that jpg
It looks like that there's a new nft marketplace that created some shitcoin as a reward for users. When someone trades a jpg , the platform print this worthless monopoly money and give as a reward for the user. Because there's dumb people that is buying this monopoly money thinking that surely it would be worth something, whales are exchanging those jpgs between them in order to get the free monopoly money as a gift, so they can dump them immediately and buy more jpgs to exchange.
What a waste of compute energy
but what kind of protest is "I'll have no choice but to sell the ape"?
like even if your "threat" is losing you as a member of the community, you're still selling it to somebody else who will just take your place
I have no idea how someone can say this with a straight face
Wtf did I read lol, half way through I thought I was having a stroke, apes vs Pacman!
NFT owner thinks no one should be able to use an NFTs pic as a PFP except the owner, but unfortunately thats not how this game works
As long as they arent using the image for profit, they can kinda do whatever they want
A fun rabbit hole my buddy sent me down a couple weeks ago was how these guys are actually a secret nazi group.
Why not link the original instead of a reaction video?
Here is an alternative Piped link(s):
the original
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.
Damn it's rare I'm on the same side as Asmond on something, I hate that guy but good on him expanding that discovery to his followers.
This is not in any way a meme
I now own it too
Lol
Yes he can prove it. Digital receipts stored on a decentralized platform have some exciting use cases.
But no legal implications.
Not yet no. And for good reason as it is still fairly new. But ultimately that's where it's headed.
I can think of a few other reasons other than the technology being new. But considering the general enshittification our civilization is going through, I can agree that this may be where it's headed.
A decentralized ownership platform would be good for consumers. Currently all digital rights management is centrally managed by corporations and that ownership is revoked or lost when the company is sold or goes out of business.
Which means companies have zero incentive to implement such mechanism for their DRMs.
Are we talking about something else now?
We are talking about the topic you brought up - digital rights management. The thing that prevents you from using software (or, nowadays, even hardware) without a license is not some magical karma woven into the fabric of the universe. It's code that the companies put in their product. No matter how much blockchain technology improves and not matter how much popular it gets - you still need these companies to actively implement NFT based DRMs. Why would they do that? Why would they relinquish control over their product? I jokingly said earlier that it'll happen because the trend is to make everything worse, but companies that make their product worse do it to gain more control over their users and extract more money from them.
Nah. Copy/paste
Yes pictures can be copied and pasted. Digital receipts cannot be forged. It's the difference between "here is an image" and "I own this image".
I own it. I just copied it. It's on my computer. Mine now
Obviously that's not how ownership works.
EDIT: I'm surprised to be getting so many downvotes on this. Are people under the impression they own movies and music they download through torrents? Again, obviously there is a difference between "I have this digital content" and "I own this digital content"
I'm out of the loop here, how does ownership actually impact the world in these cases? If I buy an nft image do I own the copyright to it? Do I get legal control over its use? What's the deal here? I see a lot of talk about ownership of a digital asset but I have thousands of digital images stored and I don't get why a blockchain is needed in the situation?
Good question! In almost all cases, you ONLY own the NFT "wrapper" around the content
For example, if you own an NFT of a picture, you only own the NFT. You do not own the picture or any kind of rights to it
Did you ever buy any movies from itunes?
I did not no, I'm an ardent believer that proprietary file format is a bad form for media as it relies on a single entity to maintain its support.
I don't own the NFT, but I own everything in the NFT that matters (the picture)
Again, that's obviously not how ownership works. You can download movies and music too. Doesn't mean you own them. If your argument is "it doesn't stop piracy" I'm not disagreeing with that.
I didn't say that. You genuinely don't understand what NFTs are or how any kind of "ownership" works with them. I don't blame you for your ignorance because that's how they sell them. I blame you for passionately defending your ignorance instead of learning the actual, objective truth
Blockchain (assuming that's what your digital receipts are based on) has no concept of identity. They're anonymous by design. Because of that, the concept of "ownership" doesn't really jive with blockchain, because the concept of "ownership" is inherently based on identity. All blockchain is good for is "yes, this transaction is valid", or "no, this transaction is invalid", where a "transaction" is simply the transfer of digital goods (cryptocurrency, nfts, whatever else) from one crypto wallet to another. Anyone with the keys to a particular crypto wallet can access the contents of said wallet, whether they "own" it or not.
So yes, the receipt cannot be forged. The receipt is next to useless though, because all it says is "here's a record of this valid transaction between these two crypto wallets" - there's no record of real, actual ownership or identification involved. And at the end of the day, bits are bits. You can wave your receipt at me all day and claim your bits are the "real" ones, but they're no different from my bits that I downloaded from Twitter.
Anyone claiming to be the owner can cryptographically prove that ownership at any time.
No they can't. They can cryptographically prove that a particular transaction on the ledger is valid. That transaction is not linked to an identity, by design, so it means absolutely nothing as far as ownership goes.
Buddy, you don't know what you're talking about. Private key signatures have been used to prove identities for decades. Do a little research on the basics of digital cryptography before speaking on the subject.
You just proved my point. By itself, blockchain cannot do identification. You need to use something external like private key signatures to do that.