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May 07, 2016, 09:54:42 AM |
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From my understanding you will have to vote on the proposal, which not only includes the proposal itself but the code that will control the contract. So if you see provisions in the code allowing the types of things you mentioned to occur, you would obviously not want to vote for it.
You are right at some level you will have to give up some control, as with any investment. Even if the proposals and code are legitimate, the proposal or business plan may not work out. Their are 1000's of business that startup each year, with their owners investing possibly their life savings to get their business going, only to fail in within the first few years. These people certainly did not invest in a scam, as it was their own business, but nonetheless still lost their investment. The point is, no matter what is proposed there are still going to be risks.
With an entirely new concept such as the DAO there are not only going to be the same risks as with any other startup, but new risks due to the functioning of the DAO, its code, and its new and unproven concepts.
There is no guarantee of anything if that is the answer you are looking for, and as with any investment you need to be prepared to lose 100% of your funds.
What you get in exchange for your investment is that you are participating in the first of a totally new concept and way of financing a business. If, and that is a big if, it does take off and one of the first proposals becomes the next Facebook, Google, etc. you will be not only participating in history, but stand to make a substantial gain on your investment.
TLDR - Only invest with funds that you are prepared to lose.
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