Bitcoin Forum

https://daohub.org/

History is in the making guys!

Obviously... lol.

Yes, this will indeed be interesting times. I purchased a 1,000 tokens to get started, and I am currently deciding if I want to send the next 9 days of mining proceeds to the contract address to accumulate more.

Not sure where to ask these questions but assume someone can answer.

What is DAO tokens?  Are they an alt coin where you transact with them as you would bitcoin. eth etc?  

If it is a coin ( or not ) is it proof of stake?

Do you get anything for holding DAO?  For example do you get commissions on the platform?

If we get commissions are they paid in eth, usd, btc, credits?

Is there a finite supply of DAO tokens/coins?

Who is behind DAO tokens?  Is it an offshoot of ethereum and fully backed by ethereum devs? A colaboration?  No direct ties to those behind ethereum?  Or the very same people behind ethereum?

This presale will the eth be liquidated to usd at the start to pay for operations/development, will it be sold as needed, traded for services or dev work?

Thanks in advance,

If there is a better forum to post this under pls let me know.

You'd be best going to daohub.org to learn more however time is running against you right now. As I type there are only 41 hours left until the first DAO price rise and the clock is constantly ticking down. Don't let this golden opportunity pass you by.

DAO tokens are like coins that runs on ethereum blockchain, a bit like maidsafecoin which runs on the bitcoin blockchain. But they are used to execute a contract.

They are used to vote for proposals. They are similar to a share in a company ( although its not the right word as this is a completely different concept)

But yes you will be rewarded proportionaly to the number of token you hold. Profits are paid in eth i think but there is also a system of reward tokens to track how many DAO tokens people own.

DAO token are finite yes, after all of them are created ( until 28 mai to get some) then no more will be created.

Slock.it is behind the DAO and yes it is backed by the entire ethereum community ( most act as curators to prevent a 51% attack, which means proposals have to first get throught ethereum community before they can be voted on)

The money will be used to fund project, the DAO is like a big investment company but autonomous and decentralized where anyone can participate. As projects become profitable theDAO will earn money that it can reinvest on new projects or use to pay dividend. Everything can be voted for if you do not agree with a curator or a proposal you can split and get out of theDAO.

Time for the price increase is approaching, I would expect a last minute rush from those waiting on the sidelines to see how it progressed before investing.

This could be something very special.

The largest crowdfund
.
.
.
and the largest crowdfund loss of investment in crypto history. (it's overbought ten times over)

Thanks for the answers, appreciate it.

It's over 51 Million now.  :o

How can you claim it is overbought when it does not actually represent anything yet? Its just cash in the bank right now, who knows what the investments will actually look like.

Anyone outside of ETH ICO holders will see their BTC/USD equivalent value destroyed.

More importantly, will we able to affect the rules of the Digital Autonomous Organisation via the voting process?

If the DAO is small as $10 million, it might make some profits and pay investors. If it is too big, it is not easy to make profit.