Good friend owns a pawn shop. The most fascinating business model. Cash is the product.
Discussion
The the old what Bitcoin did, some described the reverse repo facility at the FED as a pawn shop 😆
If they are flipping it fast, that's solid. If not, that's a depreciating product.
What sucks is most pawn shops around are all big chains. They all suck now, selling stuff gets lower than acceptable unless you're desolate and desperate. Buying is way overpriced.
Oh and ive noticed a trend of kyc'ing BUYING customers not just sellers.
Used to be so fun to go find cool stuff at pawn shops but now, they truly are predatory
Fucking a.
I was trying to buy a used pixel from a pawn shop with cash and the muddafucker wanted to KYC me.
I said fuck u and went to a best buy and bought a new one in cash, no questions asked.
I cant wrap my head around why they would need to ID a buyer.
in case they accidentally purchase a stolen item and later sell it to someone else
I got into a heated discussion with the unfortunate minimum wage worker at the till. They said shit like "legal requirements" "regulations". I was like which ones? I was being a real ass.
In the end the worker didn't know and the reasons were probably because they made a corporate deal with law enforcement to collect that data and sell it to them.
So many corporations make money selling such data to law enforcement, so that they can get around the requirements to have a warrant to obtain what should otherwise be private information.