Running a crypto-only business

[wellington]

But how you get the money out then?

As a contractor you'd have work with the 'AI' and be paid in lieu of such.

If you mean 'all at once' then no, this only works for operations on-going as detailed above.

Think of the AI as a all encompassing company, released into the wild, its not regulated nor is it in any one jurisdiction both operationally or fiscally, it doesn't touch the traditional world, just services requests from end users via its inbuilt application.

Or think of the AI as a child that you've reared and released into the Wild, but the Child runs a entire corporation, and spends less than 30 seconds in each nation before 'porting' to the next, never being in one nation for the time required to be considered a entity operating within the nation.

Or think one step further, all of that pushed into a satellite and sent to space costing 160,000$ being outside of planetary jurisdiction.

That is the future with MAS (Multi-Agent System AI) and Blockchain

It already exists in part, for example 1Inch operates on IPFS but people (humans) use its Web2 front end instead (predominantly).

I would expect laws in regards to accountability on AI quite soon

As someone who has been in the field since 2001 -> Good luck with it. Its unenforceable.

 

[daniels27]

As a contractor you'd have work with the 'AI' and be paid in lieu of such.

Yes, and you are the only one entitled to such "contracts" -> you manage it in its own sence.

As someone who has been in the field since 2001 -> Good luck with it. Its unenforceable.

Many things are unenforcable, but the government finds alternatives to make your life so hard, that you don't even go there.

 

[Simon4466]

As it is not a DAO and after the talks with the local tax guys, my best guess is that they will argue that as you are the only person who has access to the bank account / private keys to the cryptos, you are the ultimate manager as you control it. If you claim you do not control it, it is called money laundering: lending access to bank accounts is a crime by itself or by virtue of money laundering.

Exactly, but even if the AI generates its own keys that means that you should never be able to retrieve the funds / control them?

 

[CyprusLawyer101]

You are still subject to the same laws, tax and accounting/audit of the jurisdiction your company is established. Also you are subject to the same tax residency rules and anti avoidance rules of the jurisdiction you reside etc. Etc.

 

[Sols]

I can't believe some of you turned a thread about accounting and running a business in crypto into a discussion about bespoke satellite launches. Stay on topic, please.

I can't believe some of you continued the off-topic nonsense. Where's the respect for OP and other posters? If you want to discuss satellites, please create a new thread.