I’ve seen this $10k limit mentioned before WRT to laundering, but I’m not sure I understand how it would be a factor. This card business would need to report all combined revenue no matter how much any one person spent. It doesn’t matter if a customer spends $99 or $999,999. The business would need to report all income. Surely he would be laundering millions. Unless he has millions of accounts each trying to stay under $10k, I’m not sure how staying under the $10k limit would matter. The small-time, normal person might try to dodge the automatic bank reporting rules by keeping their deposits under $10k. A craftperson making a few bucks at the farmers market can try to skip the taxes by keeping their bank deposits low, but I don’t see how this kind of trick will help a business like this.
I think it is more likely that the possibility of multiple lawsuits for “borrowing” images for his cards caused him to have the website pull the sale. The idea that any website he is involved with running efficiently enough to make that many sales in that incredibly short amount of time is simply ludicrous.
Just wondering where you heard this.
<protip: If it’s from a Trump source, it is almost certainly a lie)
Which is additional proof that he’s just licensed his name to a company run by experienced NFT bros.
Agreed. AIUI, the $10k limit refers to cash transactions. If a bank receives a cash deposit over $10k, or a business receives over $10k in cash for payment of good or services, they are obligated to report it to the IRS. I don’t think that limit applies in this case, because assumedly nobody is sending cash to buy this crap.
The webpage for the company with the offering states they’re sold out.
The website associated with Trump that might or might not be actually owned by Trump.
Odds are that’s a lie. Creating false scarcity is pretty much a given with these grifters.
It will be interesting when the NFT company is sued by the clothing companies and others whose copyrighted images were ripped off, and had Trump’s head awkwardly photoshopped onto them.
In some cases, it’s patently obvious that they stole images from websites.
Very close to the other thread I know but I want to go into why Trump would do this. I have heard some have said that Trump is broke and needs the cash. I don’t buy that, Trump doesn’t pay his bills and gets people to give him money. So I figure it is 2 fold:
1- Trump is upset that Biden is getting the Dark Brandon superhero image and wants that for himself. This would explain why the card images are what they are, all the way down to the Dark Brandon laser eyes and sunglasses.
But I think that is just a happy occurrence for the much darker reason for this cards. To buy Trump’s influence. Note that the prizes that are being offered for those who buy them are dinner with Trump, a zoom call with Trump, and an outing at one of his golf resorts (with Trump present maybe? - it doesn’t say). This just smells like something that rat basta… um disgraced president would pull, also considering how he does like to flout the rules in a grandiose way, and raise a lot of money that will go directly into Trump’s pockets, avoiding campaign reporting and limits. And since the real award, a visit with Trump, is structured as a contest, one I’m sure the richest people who buy the most cards will win, it will legally be a business deal.
So what is the purpose of these cards? I just can’t see Trump thinking this is a good idea for his image.
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To get money for Trump’s pocket by scamming the rubes. He’d kick a bum on the street and steal his bindle if he’d make some cash.
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To get money for the dudes running the NFT business by scamming the rubes. No doubt one of them came up with the idea, showed a pic of Trump as superman, and go the go ahead.
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To help out money launderers/to help funnel Russian money to Trump. I wonder who the folks buying and selling these are? Some Maga rubes, certainly, but very possibly some Putin-linked folks too.
ETA: I don’t thing ANYbody will be getting to eat hamberders with Trump, or will get a zoom call, or anything of the sort. Trump does not want to actually meet the rubes in person. They are the Great Unwashed as far as he’s concerned.
This is all about the sweet, sweet grift.
IMHO, the OP’s explanation gives Trump far too much credit.
I’m reminded of Hanlon’s razor:
I’m just wondering what actions he is hiding while this non-event plays out our attention. Is he going to take an overseas “business” trip tied to this and never come back?
Like sit in Dubai and flip everyone off while continuing his scams to the hardcore “patriots”.
12,000 people bought 45,000 cards in a couple of hours?
One might hope that all of these ““purchases”” were made with ‘the cryptos’.
What blockchain are these NFTs actually on, anyway?
Modnote: Let’s not make it easier for a grifter to grift.
Above base on wrong information. Please ignore.
Okay, let me rephrase that. I don’t actually care about the specifics.
The point of a blockchain is that it’s publicly viewable which account owns whatever asset. Has anyone outside of Trump’s orbit actually seen this blockchain? I’m wondering if the grift is even simpler–no blockchain at all, just a slot to put money in and an emailed jpeg.