Comment by Sohcahtoa82
4 months ago
> But it's a terrible medium to turn black money into white money.
Isn't that what NFTs are for?
Create a stupid image, sell it on Open Sea as an NFT, bam, you've cleaned the money. Just claim it on your taxes similar to selling art and you're in the clear.
How does "creating an image and selling it" clean black money? It's not as if creating it comes with great costs that could be funded with black money, right?
Isn't the scheme that you then buy it from yourself, or via a proxy, somehow?
That's what I meant. You buy it from yourself on Open Sea. I just worded it very poorly.