Bitcoin Forum

The DAO is the latest Decentralized, Autonomous Organization to make major waves as they raised over $100 million worth of ETH tokens (12% of all ETH). The question remains, is it a good idea to invest in The DAO and have they learned anything from those who have gone before?

In this article I will talk about the experience gained from BitShares, not to promote BitShares as superior, but to highlight the hard lessons that can be learned from BitShares’ failures and how they might apply to The DAO.

https://steemit.com/crypto-news/@dan/is-the-dao-going-to-be-doa

Dead Arrived On?

I think a lot of "gimme cash upfront" projects will fail this year

Posted by "The Litecoin Guy" ... oh the irony

This is exactly what I said days ago, that Bitshares already proved the DAO is a horrible idea lol.

Things like this are kinda funny:


After reading that through, it looks like the entire system was designed as a way to give the appearance of a risk free chance at profit, with the goal of the issuers just being to pump Eth in the short term (likely so the Eth devs can just dump and cash out like Vitalik was doing).  Even if one of these ventures did become profitable, the payoff would be delayed until like 2020.  If you just held BTC until 2020, you could have a god knows how big of fortune instead of some measily "slock.it" smart meter or whatever the hell gains.

It's clear this whole thing was just a pump scheme with the goal of inflating Eth market cap.  Attempt to lock up $100 million in the short term with the possibility of locking people in longer if they do something stupid like vote.  What was the date DAO people can start selling again?  May 28th or something?  I have a feeling Eth shorts are going to do well that day.

[/quote]

OP, I'm pretty sure this isn't true. If a specific person just doesn't vote on a proposal, but the DAO overall accepts the proposal, then when it spends the ETH it has allocated to the proposal, your portion of ether remaining will now be less...regardless of if you specifically voted or not.

So you don't have much to gain by not voting..

BitShares proved it was run by great developers that made so many business mistakes along the way, it's not even funny. I don't think incompetent project management is a fair comparison.

Maybe, maybe not.  Maybe all those other DAO's just plain sucked in the people's eyes and the new Slock.it DAO is the ticket making Roach a sore angry little bitch...  AGAIN.  Hahahaha.

The DAO and ETH now have great potential to launch from a solid foundation of core developers, great community, venture funds, private investors, financial institutions. Not least the fantastic tech behind the code. Gud times to get into DAO and ETH but your time to act/invest is diminishing.

Whole thread is full of Eth shills.

I do think the devs have learned their lesson after looking at what happen to Bitshares.


Just buy few ETH and try it yourself to by DAO r0ach. If this becomes successful like what is being planned, its okay not to thank me. I don't mind either.  ;D

And you're a BTS loving whining little bitch.  Hahahaha.

No, I actually care nothing about Bitshares and own 0, but I see you like to try and change the subject from both DAO and Eth being scams.

DAO is just like a investment fund. It will take some time to invest the money. So we will not know if it is successful now.

How much money did the Larimer Gang and the Chicoms take you for?  Be honest.

You get proven wrong day after day.

Learn to shut the fuq up already.  ::)

Not changing the subject.  Everyone here knows you're just a sore whining BTS supporter. 

what is dao exactly, just a decentralized platform, like freenet or stuff like that? or it has to do witht he pos of ethereum?

I was just on the DAO website.  The website itself is pretty good.
The concept seems a bit lost on me though, I can invest my Ether to get DAO which means that someone else can invest in what look like pretty poor projects!

The concepts have been taken from their forum!  I would rather that they act like a true venture capital fund, picking out online forum ideas isn't a $100mil idea!

Other people besides me in the BTC speculation forum are now beginning to figure out the date the DAO people can sell is going to cause an insane crash in Eth:

https://bitcointalk.org/index.php?topic=178336.msg14883912#msg14883912

^ Is that how desperate you are Roach?  Lol..  Wow. 

It sounds like you're invested in Eth.  I love the non-aggregate Eth market where the order book just instantly goes from 7000 to 12,000 btc.  You're all at the mercy of one single entity puppet master trying to trick you into buying as he pads the order books to dump on momentum traders.  But the question is, who is the manipulator?  We all know it's just one guy.  Who did you vote for in the poll?

http://bitcointalk.org/index.php?topic=1475328.0

^ Don't listen to that Roach guy.  He's just a sore whining BTS supporter, who sold his stake at a loss.  Not to mention blindly following the Larimers and giving them away his BTS for the sake of Bitshares.   Where is Bitshares headed now?  Bitshares has stagnated while Ethereum is flourishing.  And now comes in here and whines and bitches and tells people to stay away from Ethereum?  He should have stayed away from Bitshares and the Larimers.  Instead we see a guy who sucks at trading whining like a little girl.  Haha.

And yes.  I have recently been acquiring ETH again because it's breaking out again.  I suggest you do too.  Try to get an avg. price of around 12.50 - 13.00.  

But of course set a stop loss.  Be ready to let go when the trade goes against you.

We've already covered that you want to try and divert the subject away from Eth and DAO, and that nobody in this thread owns or cares about BTS.  The only thing I own is BTC.  So who did you vote for in the poll?  The market is clearly one single guy, so who is it?

https://bitcointalk.org/index.php?topic=1475328.0

Just pointing to the fact that you are a sore BTS supporter who got conned by the founders of Bitshares.  You and your community were sucked dry by the Larimers who you blindly followed because you thought they were gonna get you all rich. 

For the 100th time, this thread is about Eth and the DAO.  When you seem this desperate to change the subject away from what the thread is about, something is wrong.  I have absolutely nothing to do with Bitshares.  The only involvement I've ever had is buying some at 1400 satoshi before the price went to 3500 satoshi.  The only thing I own is BTC.  I, and everyone else in this thread, has zero interest in Bitshares.  Now back to the subject of the DAO and Eth.

This ETH trap is like the BTC bulltrap in may 2014. After this the only way is down for a long long time. I'm going to plan the altcoin shorttrade of my life

Don't hold Ether Unlimited forever guys  :P

Roach.  Nope..  Not desperate.  You are.  You're the one whining.  I just like pointing out the truth WHY you're whining.  How do the Larimers d**ks taste?

And now you're denying having anything to do with Bitshares???  WHAT?  What a crock of shit.  You were defending the whole thing and the Larimers.  You were all over the Bitshares forum jerking the Larimers off, kissinv their assholes.

Someone get 2Kool4Skewl in here.  He would really love this...

It's always the biggest Larimer supporters who become their greatest critics.

The Eth shills do nothing but flat out lie to try and con people out of money.  The best part is, he claims I'm a "bts supporter", except in 1st page of this thread, you can easily see my comment below.

Haha.  DE check out what Roach said...


WHAT A BIG F**KING LIAR!

Now he claims to have made money by trading BTS when in fact he is sore as sh*t because he and his community got conned by the Larimers.  Jeeezzusss.  Lying sack of sh*t.

A true friendship in the making there, tokeweed and roach are made to be fiend :D

The DAO reminds me of Swarm, another project that raised a lot of money with no clear or defined goal.

Swarm failed hard...

https://bitcointalk.org/index.php?topic=664071.0
http://coinmarketcap.com/assets/swarm/

It could fail.  Bit then again, this is a different situation.  Be open to any possibility.

If only there was some type of way to prove the Eth shills are complete lying scammers with something like a blockchain or database.  Oh wait, those exist!

Bought here

https://i.imgur.com/r2Crg2S.png

Sold all by this point (yes, should have gotten rid of all of it much earlier, but o well):

https://i.imgur.com/qHkukof.png

Eth shills proved as lying scammers once again

Srsly, who are you trying to fool?  Anybody can look back at your post history and tell that you were the NUMERO UNO Bitshares shill hyping the Larimer's / Chicom's scam.  You're right that Bitshares was a "horrible idea".  Anyone with a functioning brain knew that back when you were promoting it.  It was so obvious, you'd have to be brain dead not to realize the con the Larimer Gang was pulling on everyone.  Heck, they even tried to sell their Testnet coins, and Little Larimer Jr wrote up a blog post trying to convince their sheeple why it was a good idea to buy them.  The only reason you supported the Larimers back then was because you were trying to make money at the expense of helping the Larimers perpetrate their scam on the innocent.  You are such a lying sellout it isn't even funny.  It serves you right that the Larimers robbed you blind.  The Larimers are the sleaziest people to have slithered through this forum.  They are some of the biggest liars, cheaters, and thieves that I've seen in a long time.  You're right up their with them in my opinion for supporting them when you obviously knew what they were doing was wrong and against the ideology of free, decentralized crypto.

How am I an "Eth shill"?  The only thing I support right now is the Synereo social network and tech stack, because I believe in free speech.  Just because Synereo and Ethereum are working together on blockchain tech doesn't make me an "Eth shill".  You're the one who tried to con people out of money when you were in cahoots with the Larimer Gang and the Chicoms.

True. I guess don't really care either way, as I don't partake in crypto IPOs.

I just think the two main projects DAO has listed are unlikely to be very profitable, that is if they ever come into existence or are profitable at all. Hopefully they will come up with some better ideas! :)

I hope no one loses too much money and it is wildly successful like Ethereum, but I would not be surprised if it was not.

That "proves" nothing.  You spent months upon months on here praising the Larimers' every utterance as if it was the WORD OF GOD.  There's no doubt in my mind that if Bitshares was at a higher marketcap and you had hope of greater profits that you would still be supporting them.  Now you come on here all high and mighty and expect us to buy it.  Please... give us a break.

What?  That saying in a comparison of Bitshares vs NXT, that Bitshares was better, yet both turned out to be useless? LOL.  You were hyping up NXT, now you seem to call Come from Beyond a scammer.  I used to believe proof of stake might have some value, but the more I learned about how all the elements of cryptocurrency come together, I now know it's useless while you STILL haven't figured out PoS is useless.  There's a reason Nick Szabo of the Eth scam said he wishes Eth would stay on proof of work.

Vitalik has some far leftist, communist leanings and believes capitalism will eventually cease to exist, which is probably why he's against proof of work and pro-PoS, because proof of work only works in capitalist systems:


He is a communist technocrat, listen to the video!

There is a huge difference between NXT's PoS and the Larimers' DPoS centralizing, fraudulent voting scheme.  Not to mention the fact that you'd be hard-pressed to find a sentence that came out of the Larimers' mouths that wasn't a lie.  They changed the "plan" so many times I lost count, and it was always to their financial advantage.

I've never said that Come-from-Beyond was a scammer.  I said that he picked a total moron and international communist, David Sonstebo, as CEO of his joint venture, IOTA.  I wouldn't trust David to run the Curly-Q machine at the local Dairy Queen.

I don't think PoS is useless.  I agree it may have some flaws, but so does PoW.  What you want is a perfect system and that doesn't exist.

It's not even about which platform is better anymore.  IT'S ABOUT ROACH BEING A LYING PIECE OF BALLSACK!

QFT!  Everyone read.

Keep trying to change the subject away from this DAO and Eth scam.  Already posted the proof that you lied claiming I'm "so mad at Eth because I lost money from bitshares", when I posted evidence that was a flat out lie and never lost a dime.  So back to the subject of this thread, who do you think the SEC investigation into the DAO and Eth will uncover as the Eth manipulator?

http://bitcointalk.org/index.php?topic=1475328.0

SEC investigation?  Bring it on!  That's only FUD and you know it.  

Oh..  How does the Larimers d**ks taste?  It's worth it I hope cos they owned you hard!

You're certainly one to be pointing out "commies" after your association with the Larimers and their Chicom backers.  I'm sure you know from your association with them how much the communists hate freedom of speech.  Was there one thread that the Larimers didn't moderate?

What sense does it make accusing Vitalik of being a "communist" when he is actively working with the Synereo team (https://www.youtube.com/watch?v=syn0ZWMC4xs) in developing a decentralized, free speech social network?

Talk about selective criticism.  You're calling everyone communists and there's Vitalik coming out of the closet as a communist technocrat and you're endorsing him.

What goes up must come down.
Scams come and scams go.
And then we start again from the beginning.
Therefore nothing new to see here.

I personally, dont have anything against the far left.

Nice crowd you got there:

http://thefederalistpapers.integratedmarket.netdna-cdn.com/wp-content/uploads/2015/05/stalin.jpg

http://chineseposters.net/images/g2-48.jpg

http://www.acting-man.com/blog/media/2015/03/got-rope.jpg

http://i.dailymail.co.uk/i/pix/2015/02/20/25D666C100000578-2961331-image-m-28_1424429162329.jpg

http://cdn.history.com/sites/2/2013/11/3205176-A.jpeg

http://www.biografiasyvidas.com/biografia/k/fotos/kim_jong_il.jpg

Most of the early investors do not want to hold the ICO stake for long. They are wanting fast profits. Most will sell immediately after the new coin has hit the exchanges. So, I agree with you. It is not a substainable investment.

i'd rather hang around with those guys than an idiot like you

Oh look the communists from Bitshares DE was talking about.

LOL this thread went sideways fast

Yes, because...

QFT!  Everyone read.

So true.

I just wish the devs of such ICO's were as forthcoming and "real" as teh WBB dev!!

I don't get it either. Can someone succinctly explain what the hell DAO is, and its relationship to Eth?  ;D

The biggest pump n dump in history off cryptos  ;D

Its like a investment fund, which will invest in crypto-companys. Decicions are set by voting (weighted by your DAO share).   

Yezzir. Not being pessimistic, but I feel a lot of folks are only along for the first part of this ride. Look at the ETSY ipo for example. The early vc taking profit ruined the price, it took a while to recover. ETSY is an established company with a viable product that has proven value. This DAO is a great concept, but rather ambigous for such a large valuation.


Yes, yes the fuck it did. Put down the hatchet guys. I don't know what roach was talking about with the bts shit, I'm not sure what a bts is to be honest, nor could I give a fuck. but he's an alright guy atm, a bit paranoid but not too much so, and he's at least trying to raise some valid concerns with this. Not picking sides, not making enemies either, but let's keep the past in the past and focus on this possible train wreck lumbering towards us  ;)

Haha,

Ah, well-explained - just as succinctly as I requested. Thank you! ;D

It doesn't really sound THAT bad when you put it that way. I guess a problem presents itself when people with an overwhelming share in DAO have a lot more voting power than others? But that's only fair - the more you've invested, the more decision-making power should be in your hands...right?  ???

The thing is that if the DAO is not very successful or for some reason doesn't work very well (can't agree on investments or doesn't get suitable proposals), it will just kind of dissolve as everyone splits out of it.

While that will be seen as a "failure", it would be hardly epic since people would get most or even all of the funds they put into it in the first place.

I for one think that it is probably too big to be useful at this point, but it could very well split into 50 different DAOs all funding different projects. That may not fulfill the great pie in the sky fantasies that people have of "The DAO", but it would fund a lot of startups, some of which will be successful. What it definitely will be successful at is bringing a lot of startups to the Ethereum ecosystem.

If the Principals are not on their 3rd or 4th business at least...
And can't get funding from experienced Venture Investors... then the money is being SET ON FIRE.

We already have about 1000 Alt crypto-networks. How many of them have a non-trivial revenue stream?  < 1%?

The worst in human nature = desperation to catch a ride on the next Speculative Bubble...
It's Pride + Envy + Wrath + Gluttony + Lust + Sloth + Greed p2p decentralized.

You forgot the best one

https://i.imgur.com/kfCZ9rX.jpg

https://www.linkedin.com/pulse/how-sue-dao-stephen-palley

Well, looks like somebody will be getting screwed somewhere down the line.  They will likely just go after that Slock.it guy since he was the "curator" and then notorious altcoin scammer Butalik.

DAO is a very good job.

As if it wasn't know that lawyer loves changes.

That's interesting but can that apply to crypto??

All crypto assets are technically securities. I shit you not. when you ask some one for money and promise them returns, it's a security. The SEC thinks so at least.

Have you guys read this article about DAO risks? http://cointelegraph.com/news/dao-episode-2-risks-ahead-or-can-the-experiment-fail

Obviously it remains to be seen, but my feeling is that the DAO will vote down those types of proposals. Thats the entire social experiment anyway - how well will the "crowd" choose where to invest. I definitely understand your skepticism, but I also see some hope that they will be able to sort through the bad proposals.

Other high quality startups may look at the DAO as a way to get funding without having to give away a huge portion of their ownership of the company. Many other start ups simply have a hard time getting funding because they don't operate in Silicon Valley.

Looks like the DAO made the front page of the Sunday New York Times print paper.

Honestly, that is amazing.

The DAO dropped 17% against bitcoin today. The bitcoin price rose 8%, so it dropped 9% against dollar.

Yeah. Suppose everybody is waiting for some major major news to come

I lost 20 % of my total investment in DAO so DAO will be dead if the company not sell any product in coming days

It's not supposed to sell anything. It's supposed to invest in other projects, like Slock.it's Ethereum computer

If The DAO goes to zero this will be the BIGGEST news story in crypto history, that's some consolation ... there's no such thing as bad publicity as they say, for good coins this might be an opportunity, especially the simple 1.0 coins without all the bells & whistles

DAO Ethereum bug found. Someone is stealing all the DAO Ether fast which will likely be dumped on the market crashing the dao and ethereum - DAO Ethereum bug found. Someone is stealing all the DAO Ether.

etherscan.io/address/0xbb9bc244d798123fde783fcc1c72d3bb8c189413
https://news.ycombinator.com/item?id=11921216
https://www.reddit.com/r/ethereum/comments/4oi2ta/i_think_thedao_is_getting_drained_right_now/

We warned you this would happen. Ethereum down almost 20% and looks like it may slide further.

As I understand it, this is a DAO bug exploit not an Eth bug.
I imagine that Eth will survive but people will be a lot more sceptical of contract ICOs.

from what ive  gathered,  the hacker has managed to extract eth out of the dao.  If he dumps these coins im not so sure that eth will survive too well.

What i never heard any news about DAO bug or hacked.. so you mean it can affect ethereum too if the dao is already been hacked by someone..
Well if it will happen the price of ethereum too will decrease. just like the news why ETH and DAO are decreasing according to market 15% or more are decreased in ethereum. and dao..

what is the dao exactly a sidechain for etheruem? or something like colored coin integrated in the blockchain?

I thought he can't get ETH out unless there is a vote

This has now been confirmed. It's DOA. Stephen Tual announced they are dissolving it.

Where did you get this information from? Please, provide the link to the source

LOL , a CAO after all , how do you desolve a Decentralized Autonomous organization?

The Cake was a lie!

https://twitter.com/DanDarkPill/status/743789597482692608

Not only are the Overseers looking to Shut it down , they are also wanting to hunt down any that oppose their actions and the HF. LOL. Don't betray your masters!

If the DAO is wind down, then these locked Etheruem will be released, that will flood the market with the coins.

... and some of those mEth users will start to get wise that turing complete with a large attack surface isn't wise in general for crypto currencies and make the right decision and sell for btc. I suspect most have latched onto Vitalik and will stay however opening themselves up to future exploits.

What is Hilarious about this is in reality this isn't a Hack at all , and technically theft didn't occur. This "Hacker" simply used the DAO as designed and technically he could sue the miners or developers for freezing his funds that will be taken if a HF occurs. The HF represents a break in the contract that was originally agreed to.

I see that as a theft, it exploits an known loophole and extract funds from the other DAO owners. But your opinion differs.