cm0002Remember NFTs
And yet this degenerate asshole is worth ~$150M
Laying out bare, being ‘smart’ has no bearing on wealth.
What an indictment of our society that this fuck ass ever had that much money and now has more
ddittyWhere are you seeing such a high figure? This article from 2025 says $150 million. I know he has Celsius and wrestling but 2 billion seems like BS
Nah, it’s genius. A fantastic way to laundry money. It’s like buying paintings but you don’t even need to pay someone to appraise it or a good painter with some sort of good technique.
dohpaz42Yeah, but do paintings typically lose almost all of their value? I thought the idea was that the value should either stay the same or go up.
Either way, in this case, it couldn’t have happened to a nicer guy.
BigFigThe 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.
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
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.
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 $5,” and “Free beer with purchase of rock.”
NFTs are just the rock.
For Logan Paul, yes, he wanted it to go up.
But if this painting was laundering at work, the important part is that the seller can point to this transaction as “real”. The IRS or the FBI might be looking into his sudden gains of half a million dollars, but when they do, they find that he sold Logan Paul half a million dollars of art.
The NFT part makes it incredibly easy to generate said art. Before NFTs, rich people would mark up paintings, and those had to go up in value, because they would buy them at 100,000$ and sell them for 200,000$, so the government would see 100,000$ of profit, but the next guy with the painting, he’d have to sell it for 300,000, claiming 100,000$ in profit, and the next guy, 400,000$, you get the idea.
NFTs can lose value in a way real art isnt allowed to because anyone can claim that’s the price, and after the sale, they can be discarded as trash, essentially. New ones can be made in bulk for no effort, and its alright to sell 1000 NFTs at 100$ each, because you can just keep making them and “selling” them and no one has to care about their value in the same way because they’re mass producible without that crashing the market.
It is also important to mention that you don’t actually own any art with NFTs. You own a link pointing to the art, but the art itself is not owned by the owner of the NFT.
I don’t think that’s actually all that important. It’s fundamental to an understanding of NFTs, but not their role in any sort of money-laundering, since you can also just make NFTs using some AI-generated art or make 5000 NFT’s from one low-effort art you do own.
All money laundering needs is the non-fungible part, which is easy to do, just stamp the corner with a limited-edition numbering mark and the 500 fungible digital tokens of a single art become 500 nonfungible tokens.
How much is it worth in Trumpcoin?
BeigeAgendaThe computer can’t handle a number that small, it will just round it to 0.
I was thinking that both values are very close to zero, but that would mean they use a third currency as intermediate, and as I remember that’s not how things work.
So in conclusion my comment needs some more work.
Dem BosainSorry, that’s not worth $155.
That NFT is worth $0
Claim it as a loss on your taxes since it is an investment. Now it is “worth” whatever taxes were paid on 635,000 dollars of income, which I would guess is in the 100K range.
mercThat doesn’t help that he actually paid $635,000 for it and now it’s worthless.
It’s as if he took half a million dollars and just set it on fire. Being able to claim a loss on his taxes, if that’s allowed (which I’m pretty sure it isn’t), doesn’t really help with that.
Or… He either didn’t actually pay that money… Or the money went to someone or something he wanted to give 635,000 dollars to already, and writing it off on his taxes is an additional side benefit.
Or aliens descended from space and messed with everybody’s minds so we all think that he’s a real person.
C’mon, stick to reality.
I guess it’s possible… But I’d consider the fraudster who famously committed financial frauds, participating in more financial fraud, to be a much more probably scenario.
Sure, and accept that this guy has a few million dollars and can afford to pay for some “creative” accounting.
Clearly, you didn’t bother to read the other comments in this very thread before you posted this.
Clearly, you have an agenda and simply think that someone as dumb as Logan Paul couldn’t simply have made a dumb choice. You need to come up with some kind of conspiracy theory where he did it to benefit.
I don’t give a fuck about this guy, but I know a fucking grifter when I see a grifter, and I’ve learned not to give them the benefit of assuming that their actions are done randomly or stupidly.
Now, if you want to go deep into a thread to claim that a renowned crypto scammer isn’t running a crypto scam, you’re free to do so, but that sounds like a fucking agenda to me.
I know a fucking grifter when I see a grifter
Sure, I agree. That doesn’t mean that he always wins when he tries to grift. There’s a well known expression “you can’t con an honest man”. I’m sure that he thought he was getting the better end of the deal. But, clearly he didn’t.
You don’t have to pretend he’s some omnipotent super-being who never gets scammed.
If you want to claim that Logan Paul is a genius who never gets caught in one of his own attempted scams, go for it, but… I mean… look at the guy.
WiddershinsIs this the same guy who filmed the dead bodies in Akigohara forest?
NFT? you mean money laundering?
New Fraud Template
Schwim DandyIt was content. He likely made more off of the clowns that made him a millionaire than it cost.
I kinda wish NFTs were still somewhat popular, they were such an effective indicator for the dumbest people alive.
CosmicTurtle0 [he/him]They still are.
the mark of the shit, as i see it.
I don’t live in the US. Do people really wear these hats out in public.
And if so, what the hell is everyone else’s excuse for allowing them to feel safe doing so?
Yes. Conservatives, specifically the alt-right, need ways to identify each other in public so that they can “feel included”.
And the reason they feel safe is that liberals and progressives are largely non-violent.
Cowards, you mean.
NFTs are actually very interesting tech with a very real use case. However, just like crypto currencies, their actual use case is so boring you’d literally consider falling asleep as someone explained it. As someone who actually learned what NFTs were long before they got big, I knew what once they hit mainstream, I should keep my money as far away from it as humanly possible.
samus12345How the hell is it even worth $155?
I Cast FistHe’s really good at scamming people
no one else going to point out that Logan Paul is somehow not the worst person in that picture
For anyone wondering, she’s a conservative influencer who worked with BlazeTV, Toilet Paper USA, contributed opinion pieces to RT and, unsurprisingly, has ties to the Russian government.
NFTs were 2021? Damn that was a while ago.