Message:

<p>[QUOTE=&quot;Gam3rBlake, post: 8228145, member: 115909&quot;]Hmm idk because as far as drug dealers most of them sell for cash and so they would have to convert that cash into crypto first. That would raise some red flags about where all this money being converted is coming from.</p><p><br /></p><p>First they’d have to get it into a bank safely in order to buy crypto and the bank is required to report all deposits over $10,000.</p><p><br /></p><p>The IRS wants to make sure they get their cut so any crypto purchases over a certain amount are reported as well.</p><p><br /></p><p>They’d have a really hard time trying to keep much of it in crypto.</p><p><br /></p><p>I’m surprised they don’t just stick with gold. Gold is one of the few things that allows the storage of vast amounts of wealth in relatively small spaces.</p><p><br /></p><p>They could store hundreds of millions of dollars in a single room in 400 oz Good Delivery Bars (the highly reputable bars used by banks &amp; countries) with the bonus of not having to count it all.</p><p><br /></p><p>Counting out $100 million would mean looking through a million banknotes even if they are all large $100 bills and many more if lesser notes are included. It would take many months for a single person or team or two.</p><p><br /></p><p><br /></p><p>But gold? You just weigh it and multiply however many troy oz you have by the market spot price. Someone could do it by themselves in a few minutes by counting how many bars there are and multiplying it by how many oz in each bar and multiplying again by spot price.</p><p><br /></p><p>However it doesn’t have to be gold. It could be any Precious Metals of high value like Palladium or Platinum.</p><p><br /></p><p>I just don’t imagine the liquidity is as high with those as it is with gold. I imagine trying to sell $100 million in Palladium overnight would be difficult without offering a huge discount to bulk wholesale buyers.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in