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Ok, so here:

https://bittrex.com/balance/dao (you need to be logged in to see the page)

you can swap ETH to DAO.

Can somebody explain to me, what DAO is as if I was 5 years old? Or at leat provide some links?

Apart from that: thoughts? Do it / don't / just another ICO ?

Check

DAO Sale
https://daohub.org/

http://download.slock.it/public/DAO/Proposal1.pdf
https://download.slock.it/public/DAO/WhitePaper.pdf

Thanks.

So it's the slock.it guys. Interesting.

It looks like it helps the price of ETH quite a bit.

The DAO is the contract by which you buy shares of 'virtual company'. Slock.it will abide by the DAO, and they will produce the Ethereum computer, revenue from the products sold by Slock.it will be sent to the DAO as profit. DAO token holders can decide to keep the profit or reinvest.
Token holders can also send proposals for review.

https://daohub.org/



See the countdown on http://icocountdown.com

It is basically like decentralized organization/hedgefund who will hire slock.it to build out it's technology, it can also contract other parties :)

You can purchase DAO tokens directly from the Ethereum Mist wallet by sending ETH to the DAO contract address: 0xbb9bc244d798123fde783fcc1c72d3bb8c189413

There is no need to use a third party, but I suppose that option may be more convenient if you already have ETH on the exchange.

Watch out, the ethereum chain might fool you..

This is how I received 10eth and sent it 100 times to THE DAO,  (look at received and sent  :D )

https://www.etherchain.org/account/0x391fc9c9663a61eeb3dc267e4fe9d4188ee7c1b8#txsent

Development contracts is nice.
I hope it will not lead us to deception (

From what I understand, if none of the proposals suit your needs, you can always vote no and get your eth back. It only becomes committed once you vote for a proposal.

That rather insignificant ...

Who is buying this that has good background with investments and why? does it look a good move?

 :o
Holy shit.  Double Spend!

User is full of shit

Myth has been busted!

https://bitcointalk.org/index.php?topic=1457728.0

In a case of a real double spend who will be the one to lose money?

that won't happen  ;D

I am looking at thin DAO thing more like contract simple contract rather than usaul coin with value in both short term and long term. Somebody have explained that DAO tokens are like voting rights in the companies which will addapt DAO in their system or something. Still more need to know about this but for sure this is helping ethereum to roar more than it could have without it. Power of DAMPP or Smart contracts is taking action  ;D ;D

I would recommend listening to the latest episode of the Bitcoin Podcast (here: http://thebitcoinpodcast.com/episode-57/ (http://thebitcoinpodcast.com/episode-57/) , also available on Itunes). 

I was also very skeptical about the DAO but after reading more about it and hearing Stephen Tual (creator of Slock.it) talk about it on the podcast I really began to understand it better.  One way of thinking about the DAO (assuming I'm not misunderstanding) is a bit like a Venture Capital firm operating on the Ethereum blockchain. 

The holders of the DAO tokens get to vote on the important decisions (like the board of a VC company) and decide which companies to invest in.  Those companies then use the investment to create their business and the DAO (comprising of the DAO token holders) share in the profits from those companies, raising further capital which can then be reused to invest in other new companies. 

Although there is no guarantee of success it is interesting to imagine what would happen if one of the companies that the DAO invested in became the next Facebook, Google or Microsoft. 

It is also quite feasible that Vitalik and his cohorts will go with a private for profit foundation for the next iteration of Ethereum, DAO would be the perfect way to do it and note that Vitalik and the rest of the Ether team are already part of the DAO too.

Whatever happens I think this certainly has the potential to be massive considering it has almost equalled the amount of money (in dollars) that Ethereum raised, in a matter of a few days and there are still 23 days to go.  As the deadline approaches the hype will become unstoppable and more and more money will pour in due to people's FOMO.

Thanks for the explanation.

There seems to be a potential problem with this approach though. What happens if after a successful startup, the DAO funded company walks away with the idea(s)/IP and builds it into a wealthy company via a more traditional route? It would seem like DAO based investors are SOL. How would breach of contract be pursued? What exactly do the DAO funders own? How is any agreement drafted in accordance with business contract law? Claiming that the DAO holders can fund the next MS, GOOG, or FB is a bit of a stretch because someone could come in and skim off the cream.

Not really a problem.  There would still be contracts just as with any business deal and if the company broke the contract the DAO or someone elected by the DAO could sue them.  Same way any company or corporation takes another entity to court.

I think it is a valid concern considering that the DAO has little legal recourse or protection. What would happen if say Samsung just came in and bought out Slock.it next year? The DAO has no equity, so they would not benefit like a traditional VC would in the case of a buyout.

On the other hand, one of the primary benefits for a start up receiving investment from the DAO is that they are not giving up equity in their company. If they went with traditional funding, that would not be the case, so there are direct financial benefits that the owners of these companies get by going the DAO route.

I think as this area matures, we will see more detailed contracts and more protection for DAOs. I think it will be *very* interesting to see the kinds of proposals that the DAO receives after it is up and running. There is a lot of money there for the taking - we could very well see hundreds of proposals being made for basically everything under the sun. The DAO could end up having a lot more leverage than would initially be thought.

Who told you that?  The DAO has the same legal recourse and protection as any international company.  Why would you assume differently?  Even if Samsung bought out Slock.it they would still have to fulfil the terms of the contract or face legal sanction.

and "terms of any contract" would be proposed and up for discussion in the two weeks prior to voting?

really curious how a proposal would be put forth and how much legalese could be disseminated by the crypto community.

That's a more important question and we are still waiting to see exactly how it will be done.  I think part of the problem is it has never been done on this sort of level before - normally it would just be up to a handful of people to analyse the contract and make a decision.  Due to the scale with the DAO and it being a new process I think this will definitely require some experimentation and iteration.  I think the only way to be sure if it will work and how it will work is to actually start the process.

For those interested DAO has now surpassed what Ether raised and it's only been six days.

Currently 1.99 million ETHER worth approx $19.57 million dollars. 

Still 22 days to go and 8 days left at the discounted rate.  Any ideas as to how much the final tally will be?

New theDAO subreddit

http://www.reddit.com/r/thedao

I think this is the point most people are not getting. Before any funds are dispersed by the DAO, the proposal first needs to be presented and voted on. All these questions will need to be included within and addressed by the proposal, such as if there will be or will not be equity in the firm asking for the funds, etc. If the proposal is along the lines of simply "Send us 50 million ETH and we will put it to good use", then yes a good chance there would be little recourse or protection so you better not vote for it.

In essence, the proposal and its acceptance will be the "contract" that will protect the investors, so if there are any deficiencies these will need to be brought up and the proposal modified before it is voted on and approved. The only recourse available will be what is outlined in the proposal and associated code to execute it.

What is DAO speculation value? Ill buy some tokens today and wanna some infornation to calculate my probably profit.
Lets be rich! ;)

The speculation value is $1 trillion per DAO token.

on bitrex it is now also possible to buy DAO.    Anyone tried it?

here  https://bittrex.com/balance/dao

You buys tokens and get a "You have Created 3613.44917 DAO on Bittrex."
You dont get to trade it until ICO ends

So I can buy DAO directly from bittrex?

Yes just use the link: https://bittrex.com/balance/dao (https://bittrex.com/balance/dao)

is or will the DAO be an incorporated legal entity?

if yes, which jurisdiction?

This is a matter of some debate and I don't think a firm decision has been made yet as the idea is that it doesn't have to be (obviously that presents a certain amount of problems).  It's best to  search this topic on the DAOhub forums (https://daohub.org/forums.html (https://daohub.org/forums.html)) because I think there has already been a bit of discussion there about it.

thats not a full brainer. you go there and you can buy it. I would prefer gatecoin, you can buy there with bitcoins too.

I am very excited about the dao and how its going too to continue. I am really curious how much this one can rise? $100.000.000  maybe? who knows... time will tell.

Here's the thread on daohub: https://forum.daohub.org/t/the-legal-status-of-the-dao/ (https://forum.daohub.org/t/the-legal-status-of-the-dao/)

I think is better buy DAO directly of daos site. More secure and instant buy. Buy before the 15 of May and get promo. After this the price gonna grow and pass to 1.5eth/100dao tokens

That's usually the recommended option but some people aren't used to using the Mist Wallet or their wallet is out of date and they don't want the hassle of waiting for it to catch up with the blockchain.

I actually followed your instruction on https://bitcointalk.org/index.php?topic=1465376.msg14800057#msg14800057
I have bought few eth first and then send to my bittrex ETH wallet, transfer it and then Verify Withdrawal for DAO tokens :)

Fantastic:)

Very tempting to look into this and maybe buy into it. Getting to vote on good/bad ideas and collecting the appropriate reward, very neat. But I still feel that it is a risk at this point

That's the thing with anything that has really big potential.  It is also likely to be very risky.  That's why you should only invest what you can afford to lose.  When Apple was just 2 guys working out of a garage most people thought they would never succeed and many people turned them down for small loans which could have been worth billions in shares now.  If you never take risks you can never advance.

DAO at $44.13m (approx) - 4.46m ETHER right now (nearly 6% of ETHER in existence). Still 16 days to go. 2 days to price change in case anyone wants to be included at the current price.

Here is a good question if you vote NO and get your ETH back don't forget that u got in for 1 ETH per 100 DAO. BUT by the time it's over you will get less DAO because it will be worth 1.5 ETH per 100 DAO

I think its now 1.5 ETH per 100 DAO. Its going to be worth the money and people will regret it when they see DAO's value after the ICO.
If I just have much bitcoin to buy ETH, I may have already bought hundreds just to acquire as much DAO as possible.

No there are still 15 hours of 1 ETH: 100 DAO left but hurry if you don't want to miss out.  Currently at $77m and approaching 10% of all ETHER.

https://daohub.org (https://daohub.org)

My main concern is this if I have DAO in my Bittrex account and want to just leave it there , will MY DAO be reduced if bittrex votes even if I just want to hold DAO and not be a part of funding , I'm just looking to buy and hold DAO , I am reading that DAO is taken away from your account to fund projects , I DO NOT want to Split and go back in to ETH I ant to keep DAO only

Please see my post below about having DAO in bittrex please answer

I want to invest $1000 or 100 ETH into DAO u think I can turn it into a lot of cash just gambling

Don't worry you won't lose your DAO (unless something goes wrong with Bittrex like a hack). 

It is the ETHER related to your DAO that will be used for funding proposals.  If you don't want your ETHER to be used to fund a particular proposal then you can vote NO to it, but if the majority decides to go with the proposal your ether will still be used.  The only way to prevent this is to split form the DAO and create your own DAO.  This is a last resort choice and designed to allow people to stop their ether being used to invest in anything that they find illegal or unethical.  Otherwise the ether is used according to the majority vote.

That said if you are not concerned with voting then I think you can happily leave your DAO on Bittrex or any other exchange without losing it (unless they get hacked obviously).  Most people would recommend keeping your DAO tokens or any other currency in your own personal wallet for maximum safety.

It is seems that you don't really understand what the DAO is yet.  There are still a few hours left until the price increase so you have a bit of time - information is always important in any financial decision like this and you still have enough time to learn about it before the deadline.

I would suggest going to the DAOhub (https://daohub.org (https://daohub.org))site where there are a lot of resources and related info.
The forums are also quite useful: https://daohub.org/forums.html (https://daohub.org/forums.html) and I think I posted a link to one of the Bitcoin podcast episodes here somewhere that you may found useful.  The Slock.it youtube channel may also be of help if you prefer videos (just google it).

Well I can't really say.  This is something new.  You could make profit or you could lose most of the value.  There is no way to know.  I'm investing for the long term.

Ok thanks how long does the Dao get used for once vote goes through

Poloniex is the better option right now, you can swap your ETH TO DAO without paying transaction fees unlike Bittrex.

I have a question concerning voting in general: As far as I understand it you are not obliged to vote on proposals to get rewards. If the majority  votes yes on a proposal to fund a project with f.e. 20% of the collected funds you also are 20% in on it with your tokens (even if you haven't voted or voted no). So my question is: What happens exactly if you vote "yes"? Do you get a higher percentage of rewards/dividend? Obviously if you don't agree with a proposal you burn your tokens and get back your Ether.

I recomend you buy your DAO tokens in poloniex.com/dao
Fast, safe and No fees.

Stay safe!!!

from what i recall, early on the rush to buy thedao tokens caused gas price requirements to be higher and a lot of transactions did not go through.

i think bittrex allowing you to set fees is a good thing.

polo's redirect though, where you can send from one wallet and receive in another, through them.. thats pretty cool though.

i dont think either exchange is going anywhere anytime soon.

in the end its best to use your own wallet for full control of your contributions.

Not sure what you mean.

There is no higher percentage or bonus for voting Yes. 

Whether you vote Yes/No or don't vote at all the majority vote will prevail and the funds will be taken as a percentage from everyone in the DAO's ETHER. 

So if you vote against Slock.it and the proposal passes your ether will get used just like everyone else. 

The only way to opt out of your ether being used is to split off from the DAO into your own separate DAO before the proposal is voted on. 

Once that happens you will have no further involvement with the main DAO. 

You will still earn profits from proposals that were passed while you were a member of the main DAO for as long as they continue (which could be forever in theory though obviously nothing lasts forever in practise).

Thought people may find this relevant:

Fortune Magazine: Leaderless, Blockchain-Based Venture Capital Fund Raises $100 Million, And Counting :

http://fortune.com/2016/05/15/leaderless-blockchain-vc-fund/ (http://fortune.com/2016/05/15/leaderless-blockchain-vc-fund/)

DAO just gonna be very big. Wait and see... Profit incoming, see you soon!

Now in WSJ this article is also hilariously clueless: Chiefless Company Rakes In More Than $100 Million

http://www.wsj.com/articles/chiefless-company-rakes-in-more-than-100-million-1463399393 (http://www.wsj.com/articles/chiefless-company-rakes-in-more-than-100-million-1463399393)

Now TechCrunch: The Tao of “The DAO” or: How the autonomous corporation is already here

http://techcrunch.com/2016/05/16/the-tao-of-the-dao-or-how-the-autonomous-corporation-is-already-here/ (http://techcrunch.com/2016/05/16/the-tao-of-the-dao-or-how-the-autonomous-corporation-is-already-here/)

Also DAO is now THE biggest Crowd Fund in history.  Over $120 million now.

https://en.wikipedia.org/wiki/List_of_highest_funded_crowdfunding_projects (https://en.wikipedia.org/wiki/List_of_highest_funded_crowdfunding_projects)

That's how much I put in: I got 10'000 DAO tokens. From what I've read, that 10'000 makes me a minnow. ;)

Jeez Louise...raising ~$100 million sure gets ya a lot of mainstream press!

Thanks for dropping these links.

I think DAO is one of the first "crowdfunding" that is getting funded by investor totally extern to the cryptoscene exept for the latter.

Don't worry, there are much smaller minnow than you  :P :P ::)

An article about the DAO in the financial Times: Automated company raises equivalent of $120m in digital currency

http://www.ft.com/cms/s/0/600e137a-1ba6-11e6-b286-cddde55ca122.html (http://www.ft.com/cms/s/0/600e137a-1ba6-11e6-b286-cddde55ca122.html)

Bloomberg Article here: Blockchain Company Wants to Reinvent Companies :

http://www.bloomberg.com/view/articles/2016-05-17/blockchain-company-wants-to-reinvent-companies (http://www.bloomberg.com/view/articles/2016-05-17/blockchain-company-wants-to-reinvent-companies)

CNBC: Automated company raises equivalent of $120M in digital currency

http://www.cnbc.com/2016/05/17/automated-company-raises-equivalent-of-120-million-in-digital-currency.html (http://www.cnbc.com/2016/05/17/automated-company-raises-equivalent-of-120-million-in-digital-currency.html)

Reuters UK: Virtual company may raise $200 million, largest in crowdfunding

http://uk.reuters.com/article/us-blockchain-crowdfunding-idUKKCN0Y82LI (http://uk.reuters.com/article/us-blockchain-crowdfunding-idUKKCN0Y82LI)

Can you please explain how to transfer DAO from bittrex to my wallet I know you can't do it now the question is how do u do it do u just use the eth address or is there an address for DAO another words please explain the process

What is the average investor in the DAO as far as BTC. I'm 4 BTC

I'm not sure what the process will be.

New Article in the Economist:

The DAO of accrue : http://www.economist.com/news/finance-and-economics/21699159-new-automated-investment-fund-has-attracted-stacks-digital-money-dao (http://www.economist.com/news/finance-and-economics/21699159-new-automated-investment-fund-has-attracted-stacks-digital-money-dao)

OK so there was an article relating to Ether being added to Coinbase (which is also going to rebrand to GDAX).  The most interesting part though talks about the DAO:

https://i.imgur.com/oPXPZ0n.png?1

Article Link: http://www.coindesk.com/coinbase-exchange-rebrand-ethereum-trading/ (http://www.coindesk.com/coinbase-exchange-rebrand-ethereum-trading/)

Being that ETH is raising if you get out of DAO will you get less ETH being that ETH is going up

No that makes no sense.  The amount of ether you have in the DAO is unrelated to the ether value. All the rise does is make that ether more valuable giving the DAO the ability to do more things.

New article of relevance to both Ether and DAO:
 
Forbes: Digital Currencies Show Potential To Be New Asset Class As Demand For Bitcoin Rival Ethereum Rises

http://www.forbes.com/sites/laurashin/2016/05/20/digital-currencies-show-potential-to-be-new-asset-class-as-demand-for-bitcoin-rival-ethereum-rises/#6b32a6876841 (http://www.forbes.com/sites/laurashin/2016/05/20/digital-currencies-show-potential-to-be-new-asset-class-as-demand-for-bitcoin-rival-ethereum-rises/#6b32a6876841)

New DAO article in New York Times:
A Venture Fund With Plenty of Virtual Capital, but No Capitalist
http://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html?_r=0 (http://www.nytimes.com/2016/05/22/business/dealbook/crypto-ether-bitcoin-currency.html?_r=0)

Pretty skeptical, that one. Interesting that the reporter quoted Daniel Larimer.

Why i can t views my daohub buyed on bittrex? 

Daniel Larimer was quoted because a virtually identical fund was created within Bitshares...
And it failed spectacularly for very specific reasons carefully itemized by Larimer...
(Which 99% of people are too lazy to read because DAO is all about making "easy money" off a hyper-bubble...
Critical analysis has no place here, please move on to counting your profits immediately).

So nothing new with DAO, just a shotgun marriage of Bitshares experiment and the 2014 Big NXT AE Swindle. 

WTF, this guys still taking out your dao to low price.
lets go dao! go for moon

It should be in your wallet (on the regular wallets page) now.

The funny thing is, the late Benjamin Graham - if he could be brought back from the grave - would read what Daniel had to say and just nod. "In this new land, we read the same old story."

As early as 1940, Mr. Graham was needling shareholders for being "supine" - i.e., punting off their corp-gov responsibilities. As a result, until the asset-strippers, greenmailers & takeover-artists gentrified themselves as activist investors, management was all-but impossible to dislodge no matter what they did. Angry shareholders winning a proxy fight was so rare, it was big news when they did.