Hacker News new | ask | show | jobs
by JimDabell 1597 days ago
> At the time, I was buying physical giftcards in bulk from official wholesale distributors for 90c on the dollar, scanning and OCR'ing the redemption codes, and was selling those for the BTC equivalent of $1.05 on the dollar.

Isn’t this kind of thing usually associated with criminal behaviour? Why would somebody buy $1 of gift cards for $1.05 worth of Bitcoin instead of using an exchange? Seems like the main appeal is avoiding KYC laws that the exchanges follow isn’t it?

1 comments

I really can't tell if the comment you are responding to is satire. "I don't know why Coinbase would ban me all I did was use their platform to launder money"