Bitcoin Forum

What is the deal with this? I have not read much about it, but i cant help but notice its position on coinmarketcap. Is this something people just use for speculative trading or are the actually useful for something?

What is the deal with this? I have not read much about it, but i cant help but notice its position on coinmarketcap. Is this something people just use for speculative trading or are the actually useful for something?

ethereum is 70M premined, there was need to move some of mined and sold ethereum to DAO so they can scam/pump it more
I bet next is DAO2 project, maybe some smart contract for FBI to track ethereum network, I guess its main object was gov centralization of crypto the end of BTC, long live USA BTC 2.0 called ehereum!!!!!!!

What is the deal with this? I have not read much about it...

Wat? Are you 5 years old?

I'm gonna give you ELI5: It has voting futures for new projects. Investors put Ether to buy DAO and get voting right. If the project is accepted by voters (DAO holders), Ethers in the DAO will be used to fund that project.

Wat? Are you 5 years old?

I've been buying DAO since it started trading, won't be the biggest crowdfunding project ever for nothing.

And since the project will actually require fiat to operate those ETH will be sold thereby lowering ETH price and value of DAO. Unless a DAO2 is mass marketed to continue support of current price.

you really want to know what is this? isn't it obvious?

this is another great ico, yet scammy coin, for fish that will be pumped by bot and suck your portfolio until it's done

people here are only investing for profit, there is no project that really interest them, only bitcoin can survive this bitcoin it has actually some usage besides being only a simple tool for p&d

however this doen not mean that you might not take advantage of this and take your portion of profit from it

p.s. don't be fooled by its position on coinmarketcap, its easy to have a high position, when you have a ridiculous high supply like that, every coin with more than 100M in supply is a bad joke

I think DAO is just a fail ICO
the price not worthed for me no new technology behind it.

btc also started just with traders, stfu.

The DAO is still an experiment. My guess is that it is still too risky to invest a large amount on it. I want ot invest but not sure if its a good idea a this moment... I think that we will still see lower values for its price.

What do you guys think?

The performance of the DAO should be the same as conventional venture fund. The only difference is the decision procedure.

What is the deal with this? I have not read much about it, but i cant help but notice its position on coinmarketcap. Is this something people just use for speculative trading or are the actually useful for something?

The DAO is still an experiment. My guess is that it is still too risky to invest a large amount on it. I want ot invest but not sure if its a good idea a this moment... I think that we will still see lower values for its price.

What do you guys think?

Thx. :) This was short and to the point. :) A very good explanation.  So. DAO for speculative trading for the most part. At least for most of us. :)

I wish The DAO framework will be used in applications not merely economic, like transparent national elections or referendum.
This world needs more honest procedures.

Price still stable 0.00022

stable I don't like this word ::) :-\

Such as Waves which apparently raised $15 million for vaporware and selling a crowdsale pitching IOHK's open source code (and which jl777 was said to be advisor):

https://bitcointalk.org/index.php?topic=1504381.msg15138357#msg15138357

And Lisk which raised $10 million apparently still has problems in the functioning of the wallet:

https://bitcointalk.org/index.php?topic=1504381.msg15139560#msg15139560

Or The DAO which raised $168 million with only 2080 lines of sol code:

https://github.com/slockit/DAO

Seems these days it is better to be good at marketing and selling ideas than actual code that is stable and ready for the launch.

I wish The DAO framework will be used in applications not merely economic, like transparent national elections or referendum.
This world needs more honest procedures.

Not everybody knows everything about all the crypto currencies/tokens.

If I just wanted to speculate, I would rather put money on XCP and not on DAO. Im considering it, but I admit im not sure enough about it yet, so do your research.

stable is better than down  :D, im bought DAO when @22k sat, hope the price of DAO will up because i see so many people got attracts with DAO.

The price has been stable now since launch.  Stable is good IMO because it indicates that there is something of significance to it.  I predict it will continue to be stable-ish for awhile as people wait to see what becomes of this concept of a Decentralized Corporation/Organization.

stable is better than down  :D, im bought DAO when @22k sat, hope the price of DAO will up because i see so many people got attracts with DAO.

Sure, better than down :P

  But it is down. It is consistently worth less than the ETH that backs it up. Some would say the discount comes because of the illiquidity, since it would take a minimum of 48 days to get your ETH back, if you successfully went through the split process. There is a flaw in this process that would allow someone to stalk you, so you could not get your ETH back.
  I personally think this is all by design. I think the ETH notables, many who are now listed as curators for the DAO, wanted to find a way to pump up ETH and then tie up a good portion of the ETH indefinitely. That way they have less ETH available to flood the markets, and it can make their pump and dump a little easier.
  I think it is interesting that it has been almost two weeks and we have yet to see an official proposal from slock-it. They were supposed to be one of the first true proposals.
  What we see instead is soon after the DAO launched, out comes a paper pointing out all of the security flaws. Now we have a proposal that wants to put a moratorium on any proposals until they can fix these flaws. Although this proposal is not backed up with a smart contract to enforce it, I'm sure the currators will be more than happy to comply with the "suggestion." Why? Because the DAO was designed to tie up the ETH as long as possible, so it won't hit the market.
  I think it will be a mighty long time, if ever, that we will see a proposal that actually distributes ETH to a potential contractor. Happy bag holding until that happens. Don't hold your breath though. :D

Quick question, when can we actually vote with the DAOs?

Everyone expects instant returns. This is an amazing project, but will take years to really come about. Relax people, or move on for now.

Thanks for sharing that epistle from CIYAM (community can be decentralized with DVCS open source):


It doesn't matter, because as I explained in the OP, a decentralized management structure by mass voting is a dysfunctional structure. It will simply blow up and fail to produce anything but redistribution of the money pool. I enumerated two reasons:

1. Organization is the antithesis of decentralization.

2. Money pools + voting = power vacuum

The DAO is nonsense except as a game around money pool power structure and politics. I am not even interested in discussing it further as it is a waste of time. Investors are doing that because they are deluded into thinking they can get rich want to lose their money. I think n00bs feel more comfortable with politics, than technology. They understand are familiar with politics. The DAO is taking technology that n00bs don't understand and packaging it in something the n00bs think is fair— democracy. Yet democracy is a power vacuum that always leads to totalitarianism. Since n00bs have never figured this out in 6000 years, then this can be reused to enslave them over and over again.


Vitalik, Tual, Larimars, etc.. seem to have wild fantasies that have no grounding in reality. I don't understand those dudes. Don't they know what they are building is crap. Or are they really deluded by their naive fantasies. Or maybe subconsciously the money is enough to motivate them, i.e. they are clever marketers, since it is obviously much easier to sell the fantasies to n00bs than to build mass adoption. Any way, I don't have time to worry or wonder about the way their thinking operates. And I don't want to go back into criticizing people. I will stand aside and observe them crash and burn. Unfortunately, those guys probably walk away with $millions and the n00bs lose. Boohoo that has been life for 6000 years.

I am just trying to ascertain if there are any valid use cases that I need to be aware of.


Edit: others are pointing out that investors better get the fuck out of the DAO and accept the -33% loss else they are going to end up losing everything:

https://bitcointalk.org/index.php?topic=1494333.msg15157775#msg15157775

Who ever invested in the DAO deserves the -33% instant loss to teach them a lesson. Those who hold on, will lose more.

I do expect the SEC will be coming after Tual et al, or who ever ends up capturing the power vacuum and keeping all the ETH wealth as it is extracted from the system by n00bs selling out as they realize it is fucked and by forcing "Yes" votes that pay to themselves. See the game theory I explained in my OP.

HODL DAO, someday all that hold will be happy ;D

I sold 90% of my DAO recently, hope the remaining 10% will make me very fortunate someday.

Is there any company developing the poll/election system based on the Ethereum? That could be a good application.

Not a chance.

I invested my money in thedao to make money not for some social agenda.

I sold 90% of my DAO recently, hope the remaining 10% will make me very fortunate someday.

You can usually tell the people who don't get ethereum by how utterly retarded and gay they sound

https://www.youtube.com/watch?v=4-Rnz7TDQ2I

You guys think it's a good investment?

"D.A.O. Technology, it's a Revolution." HAahhahahah ROFL :D :D :D

It is a revolution. Before it, there was no such organisation. but it failed the experiment for the time being. It might come back.