Bitcoin Forum

In simple text please :-)
Why is DAO good or bad?

Is it something new?
Why I need to invest now?

The dao is going through a metamorphosis

You don't need to understand investments to invest.

But then it's called gambling and not investing.

You know DAO is going to tank when the #1 and #2 Eth shills have already posted in the thread and could think of absolutely no reason why someone would want this scam asset.

When I saw that DAO has millions invested in it and being the next Ethereum, I have a feeling that the price won't go up much at all. There are way too many holders trying to cash out and too much expectations on it. If expectations are not met, everyone will try to cash out driving the price lower.

You could try looking on Wikipedia

https://en.wikipedia.org/wiki/The_DAO_(organization) (https://en.wikipedia.org/wiki/The_DAO_(organization))

free money for developer ::)
i wil choose CBX POS coin, less supply and cheap :P

Also, Google is great for searches I have heard.

What is good or bad about DAO - what does this mean?

DAO is an experiment and extremely interesting to those who are following decentralization of economics and lifestyle.  It can't be good or bad.

+1

Also the DAO is not a cryptocurrency, altcoin, nor a platform. It is barely qualified to be called an asset. HOWEVER when you drop all those titles you end up a Decentralized Autonomous Organization. A Venture fund where ANYONE is allowed to invest. That in and off itself is groundbreaking. The only thing BTC and the DAO have in common is the fact that the are both social experiments. BTC,ETH,DAO, etc all have their merits so comparing them is foolish. Everyone knows BTC is the best store-of-value (to date) in the crypto world however there are other aspects to consider. AND if the DAO ends up the new Silicon Valley many people will be bent for underestimating it (like when BTC was $1 or $10, or $100)

THIS is by far THE DUMBEST thing I've ever read on BCT...You good sir are a fool, and that is how you end up losing money.

I don't know what a DAO is and I read posts by hero members who don't know either. After looking I couldn't find anybody who could explain what use it is with a simple one sentence answer. Can anyone in this thread explain it without a wall of incomprehensible technical text and 2000 links?

so i sent 50 ETH to an address on daohub.com...

im confused as to how this process works, how do i get the tokens to poloniex?

These days I often forget to write the /sarcasm tag.

The DAO is a business owned by tokenholders who use their tokens to vote on business opportunities for The DAO to pursue with the hope of participating in the profit from those opportunities.

DAO tokenholders will likely be considered general partners if The DAO gets sued. As general partners each tokenholder (even if you own just 1) could be held legally liable for the entire debt. An enterprising Plaintiff's attorney might start off by subpoenaing an exchange with KNC requirements to get a list of tokenholders, then start adding the tokenholders with collectible assets to his lawsuit.

Ohh thats relieving lol

Uh oh, spaghetti o's . Which of you investors didn't read the fine print?

Thank you sir! I wouldn't have even thought it'd have a wiki.  I shall read this and figure out what it seems like everyone else here knows.

Yes, this is going to probably tank. At this moment there are 44 proposals on the table and 36 of them are so investors can split and go through the 48 day process to get a portion of their ETH back. Not sure why they want to go through that process when they can dump their tokens on some other unfortunate soul in less than an hour, for Bitcoin.
At the moment, I'm bag holding. Not sure what irrational aspect of myself wants to stay on this sinking ship when lifeboats are still readily available.
Before making the folly and purchasing these junk tokens a month ago, I had managed to stay away from ETH, for the most part. Something in my soul told me there was something seriously wrong with it. My suspicions have been fully confirmed running the Mist wallet. What a clunker. I had less problems with the 98 Seabring convertible that I just gave away.
Here I go again, flipping from cheerleader to butt hurt troll again. Oh well, maybe if any of these alts actually were worth a shit, I wouldn't be prone to change my mind. The only coin that I really want is Bitcoin. I should just come to terms with that. For now, any DAO holders should take note. When you see me flip my position on a token, you should see it as a sign. Like when the canary just stopped singing and looks dead, and you're a miner.

Oh stfu.

Threatening this kind of thing should be a bannable offense on bitcointalk.

Did we all get in to crypto because we all love to suck the bankers cocks or deal with all that horse shit?

If you did please leave the building.


So many threats, SEC, CIA, FBI and the MIB

Bitcoin faggots will really sink to the lowest point to scare people off ethereum.  If the FUD and fear spreading has got to this point it shows they are threatened.

Man, fuck you and fuck your businesses.  They can all go bust. 

Ethereum to the moo [ha ha] n

DAO is good because help some people  :)

QFT

and..

"Also the DAO is not a cryptocurrency, altcoin, nor a platform" ?

Then why is it discussed here ?

For those wanting to know a little about some of the potential legal aspects of the DAO (written by a US based lawyer). Also the third paragraph in the section labeled "Why voting might be The DAO’s Achilles Heel?" makes an interesting and obvious point about the value of the DAO and ETH once spending begins.

http://www.coindesk.com/the-law-of-the-dao/

Ohhhh YOU STFU

For one thing you should have been banned already for account hopping and spamming about ETH.

And no you are wrong discussing the legality of a coin is not a rule broken.. nor should it be.

Nor was there any threats issued by that guy.

Can i ask you a serious question ?
Are you mentally challenged ?
..or maybe V.Butterin himself ?

Seriously i think you are retarded and i know i had a sister who was Retarded until she died at 12 yrs old.
She could not talk or hear etc and was unable to walk but..
I had better / smarter conversations & communication with her than i do you and the other 3 or 4 shill accounts.


ETH is s scammy load of bullshit sweet heart..
Don't like my comment ?

Go made a DAPP about it (and maybe a few more shill accounts here to ETH spam with)

It's funny the guys who spout off the most about bans are the ones that need one themselves the most.
Do you think we can't tell you apart when you jump from BCT accounts ?

And nice try fail-queen..
Nice try trying to say you were just being sarcastic and getting laughed at for your failed DAO retort.
You were NOT being sarcastic.. just an idiot as usual.
And after getting caught you just tried to cover it up.

Shilltards need to close their dick holsters.. too much FUD crying  :'(

Ya man, the DAO is a complete fiasco.

Basically, you can't ever get your ETH back (even in the planned 48 days, never)...
Because of a simple "stalking exploit" automated with scripts that creates a "ransomeware" standoff.

Also, in the Venture Capital space investors typically take > 50-60% of the equity...
And even at that level Venture Capital funds are a high risk business.

Most proposals are offering a paltry 5% "rewards" of this or that...
And not a single proposal is anywhere near reaching the 20% quorum required...
Because most people are too lazy to analyze proposals (like Bitshares)... and there are no whales to rig the system (like NXT).

Unless someone aligned with the investors completely rethinks everything... it will be an ongoing shit show.

Don Tapscott, on his world tour of Blockchain Revolution, mentions DAO in his slide presentation, for:

SELF-FUNDING $150 million+

So clearly, it is a fascinating experiment to watch. 

Not necessarily to invest... but, in terms of decentralizing economics, definitely a good thing.

It's all chaos right now because this is a completely new idea and experiment. I think many token holders are starting to realize that there's a lot of money to throw around and they don't really care to wait for 10-15 years for some minuscule profits. This might had been the initial idea, to fund slock.it and other "futuristic" endeavors like that but things are changing fast. The first proposal from Slock.it was massively rejected, so that says the DAO is not as stupid as it appears to be.

If the DAO can actually start choosing profitable business to develop (it doesn't need to be tech, decentralized or anything remotely "groundbreaking") and demand some certain guarantees, equity, ROI and yearly profits then the sky is the limit for how much 1 single token could be worth.

If all start to fail, I'm sure splitting will be much easier, after all it's just ETH in a smart contract basically. Curators and holders will know what's best for them.

The DAO was rapidly positioned into the top 5 in market capitalization because of its 150 million dollars. But after these first weeks I can't see a real increase in its capitalization, and even I could think it's struggling too much to keep the money. A fast disappointment seems closer every day....

The only problem with this attack is that it ties up the attacker's funds as well. If the attacker finds a victim who is particularly stubborn, and simply refuses to whitelist the attacker so that he/she can make proposals, it will take the attacker at least 48 days to split & retreat. This would then subject the attacker to having the "stalking exploit" used against him/her.

Just think, we could have even more ETH tied up in split DAO's so it can be pumped even harder. No wonder many of the ETH team are curators for the DAO.   ::)

As one looks at it now, it appears the DAO is just one big ETH burning service. The only proposals that have a chance of succeeding right now propose a Moratorium for any further proposals (which will tie up the ETH indefinitely), one that increases the amount to make a proposal (which will tie up more ETH) and one that proposes to return DAO tokens sent to the DAO by mistake. What is funny about the last proposal is that most people who made the mistake sent it direct from an exchange. It may take an act of God for these individuals to ever get their DAO back, since it was sent from an exchange hot wallet.

what about slock.it?  Wasn't that the reason most people invested?       

I have no clue why people keep discussing it here, it must be because you bought in with ethereum (also not a CC).

For the masses...maybe. I invested because the idea of a company/organization completely owned by crypto-geeks makes me happy. Slock.it was just one of a few proposals. There are a TON being discussed. Price aside: IT IS AWESOME!!! :)

BTW the dao won't fund a proposal like slock.it (RIGHT NOW) because the initial sentiment is that the first proposals should increase the working capital of the DAO. Slock.it is just a bit too risky, and MOST people know that. The community is not as dumb as people make them seem. There are plenty of "bad opinions" but the intelligent opinions usually outweigh the dumb ones. Most of all people DO vote. It's actually pretty cool.

I think the best proposal for The Dao so far is: https://dao.consider.it/first-come-proposal

This proposal targets 20M USD funding. The contractor is obligated to distribute the funds to everyone who has voted "Yes", propotional to voted DAO tokens.
This is riskless proposal. Contractor will be represented with a smart contract deployed and validated on a Ethereum network and audited by a 3rd party.

Maybe this one will pass 20% quorum threshold.

i do not think it will, that is chump change IMO, the dao is a company, 20M split between X amount of People, based on proportion of tokens. No no no lol Maybe if it involved making 20M it would be considered seriously.

This is the logic of the DAO:"This proposal is destructive and selfish. Please remove your proposal for the sake of good DAO-citizenship." lol

They ignore you then roll out a more complicated "investment" scheme scam..

TO TAKE YOUR BITCOIN + FIAT

Why are they allowed to use this forum section as a dumping ground for various types of scams ?