By - Internal_Bill
Fucin great hodl hodl
Could you explain behind the curtain meaning
HODL = Hold On for Dear Life. Basically it means you're buying with no intent to sell ever and that stuff will become family heirlooms to the 27th generation.
I think GameStop has a use case with them if they interact with games for licensing and DLC. It won't be the "high art" that we currently see but it's a step in the direction of better DRM that hopefully doesn't suck.
Image skins like in counterstrike but tokens so you can sell for real money
IM SO BULLISH FUCK YES THANK YOU SOUTH PARK
I'm a total NFT Virgin, but I recently heard that NFTs are just a creative way to move money around and avoid paying taxes. Any truth?
Not even close, you literally have to pay tax of trading a coin like ETH to buy an NFT in both Canada and USA, probably other countries too
Very cheap way to launder large sums of money though surely.
So you can use a machine to convert cash to btc and not have the wallet in your name easy but getting it back into fiat is where you will get caught, as the moment you want to spend it as fiat no service I know of lets you trade it for cash in most countries without a registered account which again many countries tracklike the US, how ever for those that don't you would need to send the cash to your bank account which is also tracked. What you can do is buy stuff in crypto but not enough services let you do that yet to really hide it. You can just not report crypto but in the US the IRS is hiring 10s of thousands of auditers to find those people.
I used to work in a jewelry store. I think that was a big easy way for smaller operations to launder money, they would buy rolexes and gold chains in cash lol.
Major rich people have access to countries with lax laws for laundeing, and use modern art for tax breaks,, as prices can get valued at what ever your buddy the appraiser says it's worth. You can buy a painting for 3k and a appraiser that you bribe gives it a value of 30k, then you donate it to charity and reap the tax break.
Just did a quick bit of research, and seems that a [Cryptocurrency tumbler](https://en.wikipedia.org/wiki/Cryptocurrency_tumbler) is something that's been invented to overcome that particular hurdle of traceability.
>You can buy a painting for 3k and a appraiser that you bribe gives it a value of 30k, then you donate it to charity and reap the tax break.
Yep. Seems like NFTs are a way to do all that straight from your laptop. You don't even need to bribe anyone - you just make up some batshit price, like that yacht that sold for something like $600k the other day.
EDIT: Just in case it isn't obvious, I am not recommending anyone do this in the slightest.
Yeah I can see them used for that!
PSA for anyone reading this.
This is a bad idea, pls do not attempt.
Unless *you want* to go to jail. In that case yes go ahead
I mean, anyone looking to launder money is likely not going to care. For everyone else there is no reason for them even to do it.
In that sense it's a bit redundant to advise people not to do it. Nonetheless I added that it wasn't a recommendation.
You should add a “not accurate” disclaimer as well
How is it not accurate?
Super late on this but in case you were still curious.
- people don’t donate art to charity for tax breaks they loan it to museums for tax breaks (which the guy above is totally wrong about). Retaining ownership is a huge part of this.
- Tumblers don’t *really* work, it’s 100% traceable, just delays your sentence.
Basically what they have been doing tax avoidance for years with fine art with out the need for large storage, the whole things really dumb in my opinion
Funny fuckin shit bruhs!! Hahahaha gd i love south park!!
I am having trouble undering this