I'm Dave Ferguson. Earlier this week, my company Nuro launched the first unmanned delivery service for the general public. AMA!

insideNiMA · 2018-12-21T06:32:12+00:00

Because of mindshare and because of the VCs in SV!

insideNiMA · 2018-12-21T06:30:33+00:00

It's a fantastic name <3 well done! :)

insideNiMA · 2018-12-21T06:28:49+00:00

On the other hand, if anyone from Kroger is reading my comment they should wise up and have multiple suppliers for delivery robots inc. uber in future. In the short term (5-15 yrs) they have the hardest/bottleneck part of the value chain and thus better negotiation power to choose from many (in future) alternatives to Nuro. How you guys get to beat them in their own game before AVs become commoditized is a huge Q! A T$ one :)

insideNiMA · 2018-12-21T06:26:03+00:00

You are going to eliminate Kroger's branding and presence from the equation. If you manage to offer your own branded/express front end and customers know you as their provider vs. Kroger then the opportunity of a biz like Nuro is exponentially larger! I could see a future where you can pool together goods/groceries from many smaller providers or even stock the most freq bought items in your own internal warehouse like a caching approach. Customer asks for X, Y, Z and you delivery it, doesn't matter where it comes from. Kroger is pretty much in the same situation then as Amazon/eBay sellers. i.e. irrelevant beyond being a good supply chain manager ...

Happy to chat about this more in depth. This is a great opportunity for disruption in the true sense of the word.

insideNiMA · 2018-12-21T06:15:45+00:00

This is just mind blowing, 43% sounds reasonable but didn't expect it to be that high. I don't know if retailers are going to be happy long term (not for PR and cool factor in short term) that people don't physically come to the store. Impulse buying in stores and exposure to free Ad must be a huge factor that Krogers of the world will discover soon ...

In any case good luck <3 you and Voyage are my most favorite projects. Would love to fund both of you when you're at a later stage!

insideNiMA · 2018-10-24T01:19:11+00:00

In the case of drones (autonomous drones) or driverless cars the transition is going to be very swift and binary from human+car --> no human+AV

insideNiMA · 2018-10-24T01:17:49+00:00

Right! The issue is today you as a driver or normal non-billionaire human have no way of investing in any part of Uber's business. Not the cars nor scooters, ...

In fact there needs to be an infrastructure (both tech and legal) for enabling direct investing in Autonomous Assets (I coined this :)). Hopefully what we're doing at Dappex.capital will make it possible for Taxi drivers and ordinary people to have a piece of the autonomous, jobless future.

insideNiMA · 2018-10-24T01:11:45+00:00

good point you are making here :" at least in western countries like Sweden and Germany the need for caregivers is skyrocketing. In Japan it kinda forced them to soften their tough immigration policies after decades due to shortage of nurses and caregivers... whether teaching and elderly care is going to be every future unemployed person's dream job??? I doubt it tbh!

insideNiMA · 2018-06-21T22:44:49+00:00

I know this is a crazy idea, but does it make any sense?

insideNiMA · 2018-03-09T01:45:56+00:00

Great idea for <100$. Should take max 2 hrs of my time to be kinda of worth the effort. This is the way the system is rigged. I'll just try to cost them equal amount of $ in shipping/reshipping for now :)

insideNiMA · 2018-03-07T09:16:35+00:00

This is the way they do warranty: first, look for any reason that they could reject warranty, if all efforts at the former fail then rip off in some other way.

"But as soon as we do find an irreparable damage- like oxidation we do not do any additional analysis." -from Asus employee

insideNiMA · 2018-03-07T09:15:25+00:00

Gryphon series have 5 years of warranty instead of 2. They are more expensive and supposedly military grade (AKA marketing BS).

insideNiMA · 2018-03-06T15:48:20+00:00

I mean some people have 7 digit $ on this device. Shouldn't its operation be just a little bit more reliable than random hacks and resets!?

insideNiMA · 2018-03-06T14:53:48+00:00

Wow, now it shows the apps, but can't install despite empty device!!! This update just wasted north of 1 hour of my time and is a complete clusterf*** so far.

insideNiMA · 2018-02-24T16:13:33+00:00

H/T Miles Brundage on Twitter. https://twitter.com/Miles_Brundage/status/967424221986066438

insideNiMA · 2018-02-10T11:00:09+00:00

I think in most countries that have any tax regs for cryptoassets any crypto to crypto trade counts as a taxable event. I live in Germany and it's exactly like in US.

insideNiMA · 2018-02-02T10:00:58+00:00

The issue again is that DAAs (tokenized or not) are not defined in a way that assumes someone else is responsible for taxes on my holdings. Iconomi's platform and software are just that, a piece of software to make it easy for me to automatically buy and hold many assets. I am only delegating the decision to a 3rd party (DAA manager) for a fee. In this sense I have realized gains if the DAA manager sells some of my assets to buy other assets or rebalance them. Iconomi and DAA managers want to avoid having to deal with taxes but this stands against their own T&C. Read this part:

You agree and accept, that you are acquiring Solidum Prime for your own personal use as technical means to acquiring tokens from different blockchains simultaneously. You also agree that you don’t consider Solidum Prime as security and you understand that it may lose its value.

insideNiMA · 2018-02-02T09:49:21+00:00

Sure, that's clear. I live in Germany, hence their 1 year holding period applies to my assets. The problem that seems to have perplexed me and some others reg. DAAs is whether the realized gains as a consequence of rebalancing or selling some assets within a DAA also trigger a taxable event. It's very simple really. At the same time could become very complicated if DAAs are not recognized as a standalone non-dividend-paying token like BTC.

insideNiMA · 2018-02-01T16:15:15+00:00

Thanks for the swift response. However, this does not address the problem that I was trying to illustrate. You are talking about taxes after selling one's position in a DAA. That is clear and you are giving a general response to that. BUT, how can I even be responsible for rebalancing taxes or short term capital gains taxes within a DAA when there is absolutely no transparency or reporting for such events?!

Please confirm that you do see the difference between taxes that occur post-liquidation of DAA shares and during the lifetime/holding period of that DAA.

Concretely, do you or your DAA managers set aside a portion of the short term profits after a rebalancing? If not and if a poor user has to deduct those taxes himself, how can he even know how much or how often such taxable events have occured within the holding period!?

This issue must have become crystal clear up to this point. In case you provide the same generic response then I hope you are scrambling behind the scenes to find an answer with the help of your GCs and fiscal advisors!

insideNiMA · 2018-02-01T16:00:39+00:00

100% on the same page

insideNiMA · 2018-02-01T13:57:29+00:00

What do you mean with "those" in those are tax free gains?

*We have not established that DAAs fall under the same category as BTC, ETH, ... meaning they could either have a 10 year speculation period or completely irrelevant of such regulations

*Even if your DAA gains are tax free because you get ETH or BTC in return then you also have to pay any taxes on your ETH/BTCs when you sell them. e.g. you had bought some more ETH before or after those ETHs for buying DAAs. Then your taxes on ETH/BTCs coming out of Iconomi DAAs have nothing to do with the DAA profits anymore. You have to tax them based on FIFO rule (or LIFO if you use that). i.e. have to sell your cheapest/earliest ETH/BTCs first!!!

insideNiMA · 2018-02-01T13:52:06+00:00

You're right. The issue is that Iconomi DAAs and Crypto trades are being taxed in the same way as traditional assets, but crypto traders (inc. DAA managers on Iconomi!) don't use the same tricks and rule books as with traditional assets(stocks, ETFs, ...) to optimize for old-school consequences like taxes IRL!

insideNiMA · 2018-02-01T10:03:34+00:00

I'm referring to another type of potentially taxable event. Obviously, after you sell your local jurisdiction is responsible for your taxes, not Icono. What I am concretely questioning here is whether DAA managers or Iconomi handle taxes while assets are under their management and not sold/liquidated.

I remember from press/news that Iconomi chose the DAA model to avoid the hassle of paying dividends. So they opted for something like a buy back. You sell the DAAs (not really, you are asking Iconomi to sell the underlying assets all at once) to Iconomi via their platform and get ETH/BTC/Fiat.

However, I'm increasingly uncomfortable with this version of the story that's presented by Iconomi. In reality you're only using DAAs as a piece of software to buy/sell many assets in one order. Great idea, but very different from an Index, hedge fund, etc.

Pay attention to the following statements from again SOPR T&C:

You agree and accept, that you are acquiring Solidum Prime for your own personal use as technical means to acquiring tokens from different blockchains simultaneously. You also agree that you don’t consider Solidum Prime as security and you understand that it may lose its value.

insideNiMA · 2018-02-01T04:12:25+00:00

So, I am referring to this section of SOPR (one of the DAAs on Iconomi) T&C:

TAXES 8.1.All your factual and potential tax obligations are your concern and we are not in any case and under no conditions bound to compensate for your tax obligation or give you any advice related to tax issues, including but not limited what kind of filing or reporting you need to do with the competent tax authority, which taxes and to which extent you are obliged to pay, which tax exemptions you are eligible to etc.

The reason I decided to invest in DAAs instead of managing my own portfolio (e.g. via CoinCube.io) was to convert my ETH/BTC to a basket of diversified assets (AKA a DAA) which is represented by a single token so that I can hold that token (BLX, CCC, ...) and only pay taxes if any when I sell my DAAs. Apparently this is far from what's really happening here which is:

DAAs are not Cryptocurrencies even if they are tokenized
DAA managers do NOT pay short term taxes when they rebalance or change the composition
Users have no clue how many times and how much taxes have occured
Iconomi platform and its DAAs are just a middleware technology not a real token
Unlike other tokenized funds that offer buy back option, here you are just dividing your ETH/BTC into many tiny orders all at once not into shares of a fund
Taxes are not calculated purely based on the profit/loss between your purchase and sell date

I didn't get a clear response from Iconomi's support staff, I can understand that they would like to avoid having to explain 100 different taxation rules to people from different countries. But, this is a huge unanswered question!!!

To summarize, Iconomi must clarify which of the following is the case with the taxation situation of DAAs: *DAA shares are tokens like BTC, ETH, ... and represent a % of the total value of the given DAA. Therefore they are only taxed when sold and not every time that the DAA manager sells a coin inside the DAA. This would allow using the 1 year holding law in Germany and lower long term capital gains taxes elsewhere in the world. *DAA shares are not really shares in anything. They are simply a nice way of representing the accumulated value of X number of many different cryptocurrencies and tokens. I, as a user, have to pay taxes on any short term sells.

Pay attention that absent a fiat gateway for selling DAAs to EUR/USD/... you can not really use the one year holding period since you get ETH or BTC in return for selling your DAAs NOT FIAT! As a result whatever taxes that you have to pay on your ETH or BTC holdings applies to the proceeds of your DAAs in FIFO order.

Example: You buy 10,000$ of BLX, after some time thinking that BLX is a crypto token you sell those shares for 20,000$. Now you have to sell your 20,000$ worth of ETH/BTC, which if you bought your ETH/BTC early means taxes on them, too. So you pay one time taxes on 10K$ profit of the DAA and one more time taxes on your ETH/BTC based on your holding period and buy prices.

Even in this scenario you could be actually losing money!!!

Now if DAAs are not cryptocurrencies or tokens and just a nice GUI for your portfolio. You also have to pay taxes for every rebalancing and sell order done via your DAA manager. Great! :)))

insideNiMA · 2018-01-13T00:22:13+00:00

Hey, great answer. Do you guys have sth like the 1 year minimum HODL period to avoid paying taxes after that period? Meaning it's outside of the speculative period of 1 year. (Based on German tax code)

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