Iggy

I asked Grok:
"Eli5 how art sold is money laundering?"
Here's how it can work in simple terms:
1.) Buying Art with Dirty Money:
Someone with illegal funds (like from drug dealing) buys a piece of art for an inflated price. Because art's value is subjective, they can claim the price is justified, even if it's much higher than what it's truly worth.
2.) Anonymity in Transactions:
The art world often allows for anonymous buying and selling. This means that the identity of the buyer or seller might not be known, making it hard to trace back the origin of the money. Art can be bought through shell companies or intermediaries who obscure who really owns the money.
3.) Storing Art in Freeports:
Art can be stored in special zones called "freeports" where tax on goods is suspended. Here, the art can change hands multiple times without leaving, helping to further obscure the trail of money. Each "sale" might inflate the art's price, making it seem like the money is from legitimate art sales.
4.) Inflating Value:
Through these transactions, the value of the artwork can be artificially increased. When it's sold later at this higher price, the money seems clean because it's from an art sale.
5.) Final Sale and Integration:
Eventually, the art might be sold to a legitimate buyer at this inflated price. Now the money from this sale can be used freely or reinvested because it appears to come from legal, traceable income.
This process takes advantage of the art market's lack of regulation compared to financial markets, its subjective valuations, and the privacy in transactions. It turns "dirty" money into "clean" money by giving it a legal source through art sales.
Keep in mind, this is an oversimplified explanation, and while this method can be used for money laundering, not all art transactions are involved in such activities.

2024-12-12 18:11:03 UTC

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2024-12-12 17:59:56 UTC

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https://m.primal.net/MuJX.jpg

2024-12-12 17:57:41 UTC

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https://youtube.com/watch?v=0mVk9ypz2FA

2024-12-12 17:41:28 UTC

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mstr is going to fly tomorrow.

2024-12-12 17:36:39 UTC

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I loved that show...
🌻
https://m.primal.net/MuIS.jpg

2024-12-12 00:57:52 UTC

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good evening fellow Weirdos
🌼

2024-12-11 21:43:41 UTC

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adorable🌼

2024-12-11 19:24:15 UTC

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cmon just blur it
🌻

2024-12-11 19:21:38 UTC

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what's with you and pickles today?!?
😂

2024-12-11 15:42:20 UTC

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☕

2024-12-11 15:12:40 UTC

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GM Telluride!
🌻☕

2024-12-11 15:08:10 UTC

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that's just a flavor the 2nd camp haha
🌻

2024-12-11 14:24:19 UTC

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heres some generational wealth for your great great grandkids
🌻

2024-12-11 14:23:13 UTC

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me too❤

2024-12-11 11:51:41 UTC

GM ☕
There are two kinds of people in Bitcoin: Those who check the price every few minutes
-and-
Those who pretend not to care while secretly checking the price every few minutes.
🌻

2024-12-10 23:54:16 UTC

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you'll be like a 3 week old time capsule. 🤔
🌻

2024-12-10 23:04:47 UTC

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🍿👀

2024-12-10 04:12:02 UTC

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cool.
🌼

2024-12-09 22:25:53 UTC

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🎯

2024-12-09 22:25:20 UTC

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🌻

2024-12-06 18:37:17 UTC

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do me! do me!

2024-12-05 00:15:42 UTC

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The news today has definitely signaled a policy shift. Hoping as the news is digestedthis evening, we will see some upward price movement.
Cheers!

2024-12-05 00:09:20 UTC

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I'm not really qualified to tell you exactly what it does, but I did pay a little attention to it for a little while when I was learning Bitcoin. almost every improvement an altcoin offers, can be solved with a layer2/3 solution at the expense of everything that Bitcoin stands for.
ie: decentralized, immutable, uncensoreable, and finite.

2024-12-04 15:02:55 UTC

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GM☕

2024-12-04 15:02:32 UTC

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GM Everyone!
☕

2024-12-02 15:51:56 UTC

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I love the old school "B"
like the OG Simpsons haha
🌼
https://m.primal.net/MmHd.jpg

2024-12-02 02:26:20 UTC

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sounds like you got it all figured out.
🍺

2024-12-01 18:46:23 UTC

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☕🙃☕

2024-12-01 18:45:40 UTC

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this was yesterday.
https://m.primal.net/MldO.jpg

2024-12-01 18:37:49 UTC

GM!
☕
😂
https://m.primal.net/MldE.png

2024-11-30 19:29:27 UTC

Saylor attacking the 100k sell wall...
https://m.primal.net/MkxX.png

2024-11-30 17:07:26 UTC

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A Warrior mentality.
A Warior does not tend to young children.
--Bushido Code
🌼

2024-11-30 17:05:15 UTC

warrior mentality.
men don't tend to young children.
just sayin.
🍺

2024-11-30 16:58:56 UTC

I stumble onto your stupid posts and I'm never disappointed.
/hat
🌼

2024-11-30 16:51:38 UTC

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Wow. Speechless.
😥

2024-11-29 16:21:53 UTC

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I'm in my late 30s and my zune is still my favorite mp3 layer. Somewhat Irrelevant now of course but it still gets used in the car when people want to lusten to music during my bitcoiin pods 😂
what a great gadget!
🌼

2024-11-28 23:15:57 UTC

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terrorism goes both ways don't it?

2024-11-28 22:54:54 UTC

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🙃
ignorance is bliss

2024-11-28 18:34:56 UTC

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😂

2024-11-28 17:00:01 UTC

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GM!
Happy Thanksgiving

2024-11-28 15:11:23 UTC

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GM!
🌼

2024-11-26 18:40:28 UTC

GM!
☕🌼☕
The Bitcoin Politicians Project is now fully automated and leveraging the power of LLMs to sift through thousands of pages of financial disclosures in a matter of hours.
Lauren Boebert owns shares in Coinbase. 👀
https://m.primal.net/MiEJ.png

2024-11-26 16:47:16 UTC

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GM! 🌼
#weakhands

2024-11-25 20:23:58 UTC

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you sure?
https://m.primal.net/MhDJ.jpg

2024-11-25 20:21:36 UTC

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sounds about right.🌼

2024-11-25 20:20:59 UTC

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stupidity and abusive behavior synergies.
🌼

2024-11-25 20:18:31 UTC

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it's hard work being right all the time
:)

2024-11-25 18:21:48 UTC

GM
☕
https://m.primal.net/MhDJ.jpg

2024-11-25 16:18:31 UTC

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same.
I'm unfazed. I am better off without these types in my life. I can and do admit when I'm wrong.

2024-11-25 01:57:08 UTC

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do smallbusinesses do any of this crap? I doubt it. this is a corporate thing. activists get in, then blackrock uses their weight to impose their will
evil shit.
🌼

2024-11-24 12:04:06 UTC

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98 is the new 58
☕

2024-11-24 12:03:08 UTC

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GM!
🌼🌻🌼

2024-11-24 02:31:16 UTC

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sell wall isdisappearing quickly.
I think well touch 100 Mon
🌼

2024-11-23 17:18:23 UTC

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gm!🌼

2024-11-23 11:43:41 UTC

GM. ☕
https://m.primal.net/MfAO.jpg

2024-11-23 03:41:33 UTC

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https://m.primal.net/McFY.mp4

2024-11-22 00:32:34 UTC

Best NFT explanation I've seen.
https://m.primal.net/Mddx.png

2024-11-21 23:31:42 UTC

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I don't own any physical gold. I was going to get some of those Costco bars but I never did.
Do you have silver too?

2024-11-21 20:02:50 UTC

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except Bitcoin. nobody's rugging that.

2024-11-21 19:06:03 UTC

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enjoy your turds. make some corn if you can. then buy Bitcoin🌼

2024-11-21 19:04:53 UTC

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e-cash layer 2 is exactly this.
sorry monero 🌼

2024-11-21 19:04:08 UTC

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who people? smart people?

2024-11-21 01:21:52 UTC

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@npub1lxz…svxa
lolol
https://m.primal.net/Mcku.mp4

2024-11-21 01:20:50 UTC

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yes. its all shit.
BTC or Nada.

2024-11-20 22:35:30 UTC

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I don't disagree❤

2024-11-20 22:07:43 UTC

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I understand why people like the privacy aspect.
I think that there will be layer 2 solutions that help and that Monero will go to zero when measured in Bitcoin.
....time will tell
for now, I say 💩.

2024-11-20 21:12:38 UTC

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don't shitcoin, its bad for you.🌼

2024-11-20 20:38:22 UTC

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https://m.primal.net/Mccn.jpg

2024-11-20 18:29:16 UTC

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https://m.primal.net/McFY.mp4

2024-11-20 18:08:54 UTC

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nonsence. worst case mstr goes to 1:1 parity. Right now #MSTR trades around 1.5-5x the btc they own.

2024-11-20 18:00:22 UTC

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When Bitcoin hits 100k I'll get one.
🌼

2024-11-20 16:34:49 UTC

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https://m.primal.net/MZGN.jpg

2024-11-20 16:34:09 UTC

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this is pretty me James Lindsay's thesis. I agree🎯

2024-11-20 16:32:25 UTC

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Converting to a ROTH and paying tax up front is smart AF. btc will moon over a decade.
🌼

2024-11-20 16:30:57 UTC

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2025 is gonna be a helluva year.
🌼

2024-11-20 16:29:43 UTC

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😂

2024-11-20 11:12:45 UTC

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VanEck spaces 11/19
🌼
https://m.primal.net/McFY.mp4

2024-11-20 10:05:15 UTC

Norwegian political scientist Glenn Diesen said: “Biden was too cognitively impaired to run for re-election, but he is fit enough to attack the world’s largest nuclear power before leaving office?”
🌼

2024-11-20 00:51:38 UTC

The 90-day auto delinquency rate is higher than the peak reached in 2009.
don't say nobody warned you.
https://m.primal.net/Mbiq.png

2024-11-18 20:58:44 UTC

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mstr ripping today. damn

2024-11-18 14:19:36 UTC

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Remember the scene in Men in Black where all the aliens are pretending to be human? Maybe, That's the look "she's " going for?🌼

2024-11-18 13:58:53 UTC

GM Everyone ☕
#MSTR
#MARA
#SMLR
METAPLANET (#3350)
🌼📈
https://m.primal.net/MaCj.jpg

2024-11-17 19:48:53 UTC

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its all magic to me.
🌼

2024-11-17 18:53:27 UTC

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With the square of Uranus to Pluto- the Uranian influence will be exaggerated- Taurus to Aquarius
Land reform … nationalized land ownership. Farmers revolt and win. Not industrial but local. Remember industrial was A Capricorn institution— will be wiped away by thousands of smaller populist efforts.
The swamp will be emptied… with little sympathy for the losers. Reform or die.
Aquarius (ruled by Uranus) is uniquely unsentimental. The end absolutely justified the means