[ANN][slock.it][Company] IoT meets blockchain - A TheDAO proposal

[jc12345]

Anyone who didn't obtain their ETH through the ETH ICO is looking at monumental losses.

This is the price of hype.  DAO is overbought to hell and back, and the board room is full of random internet douchebags.

This will be a bloodletting for the history books

Only if DAO management dumps eth in one go. If they are smart they will liquidate it in a faucet fashion and let the market absorb it over time.

[bones261]

Anyone who didn't obtain their ETH through the ETH ICO is looking at monumental losses.

This is the price of hype.  DAO is overbought to hell and back, and the board room is full of random internet douchebags.

This will be a bloodletting for the history books

Only if DAO management dumps eth in one go. If they are smart they will liquidate it in a faucet fashion and let the market absorb it over time.

So can the main curator just split without consulting the DAO? I'm thinking this can't happen without a public proposal. I'm still somewhat confused on how this all works. That's why I only have 600 DAO.

[jc12345]

Anyone who didn't obtain their ETH through the ETH ICO is looking at monumental losses.

This is the price of hype.  DAO is overbought to hell and back, and the board room is full of random internet douchebags.

This will be a bloodletting for the history books

Only if DAO management dumps eth in one go. If they are smart they will liquidate it in a faucet fashion and let the market absorb it over time.

So can the main curator just split without consulting the DAO? I'm thinking this can't happen without a public proposal. I'm still somewhat confused on how this all works. That's why I only have 600 DAO.

If the management of the ICO funds are subject to a vote like other "company" decisions, then there should not be a big dump of eth. Unless of course DAO management holds majority of the votes by owning the majority of tokens and just push through their votes, or if management of ICO funds is exempt from voting.

[bones261]

Anyone who didn't obtain their ETH through the ETH ICO is looking at monumental losses.

This is the price of hype.  DAO is overbought to hell and back, and the board room is full of random internet douchebags.

This will be a bloodletting for the history books

Only if DAO management dumps eth in one go. If they are smart they will liquidate it in a faucet fashion and let the market absorb it over time.

So can the main curator just split without consulting the DAO? I'm thinking this can't happen without a public proposal. I'm still somewhat confused on how this all works. That's why I only have 600 DAO.

If the management of the ICO funds are subject to a vote like other "company" decisions, then there should not be a big dump of eth. Unless of course DAO management holds majority of the votes by owning the majority of tokens and just push through their votes, or if management of ICO funds is exempt from voting.

I don't think the DAO is going to create any tokens for free for the management,(who will be slock.it if the 1st proposal is approved.) I doubt the creators had the 5 million ETH necessary to have the majority of tokens, at this point. I could be wrong.
A proposal is required for any distribution of the ETH. A private proposal if someone wants to split and create their own DAO that only holds their share of the ETH. I think distribution of the ETH in our shared DAO has to be a public proposal, and needs approval. I hope my understanding is correct and I am not just a blathering idiot.

[JollyTrades]

Dear all,

I would love to get convinced about the greatness of this project. Please follow the link: So what's the deal with Slock.it?

Best,

Jian

[LegendaryMiner]

Dear all,

I would love to get convinced about the greatness of this project. Please follow the link: So what's the deal with Slock.it?

Best,

Jian

Nice discussion dude, may help to clarify some things...

[jubalix]

if I grok this DAO correctly, it seems to be a bundle of people saying we will dev/curate dapps and proposals, governed by voting rights entrenched to DOA's owned.

Sort of like saying we will have the best bundle of smart "wdigets" under he DOA ubrella and the combined funding to back it.

Sort of like an aggregation/funds management service based in the Etherium.

If this is right then it seems the headless chicken of Eth did not have sufficient emergent properties to see this spontaneously arise, and DAO is there to try and rectify that. I am not saying this is bad, just the ETH is too knew for most models to adapt.

However given that around 10% of eth or more is in DAO, this looks open to another interpretation.

It sort of a like a mastercoin to made safe jump on a massive scale.

It seems Eth was widely more successful the the creators thought and they wanted to get some ETH back. So they invented dao.

If much more that 10% of Eth are collected, I wonder how well eth can function given the block or Eth in relatively small hands....if it get to 20%+ % then what?

its looking like DAO can dictate ETH terms, and this is a sort of reverse take over of ETH by DAO.

Maybe it will all work out for the better and I can see the logic of DOA to finally Make IOT more than a sticker name buzz word....

however I have been around too long to not have developed some health cynicism.

That said you may be forced to jump on the DAO boat at this point if you have ETH.

[bones261]

if I grok this DAO correctly, it seems to be a bundle of people saying we will dev/curate dapps and proposals, governed by voting rights entrenched to DOA's owned.

Sort of like saying we will have the best bundle of smart "wdigets" under he DOA ubrella and the combined funding to back it.

Sort of like an aggregation/funds management service based in the Etherium.

If this is right then it seems the headless chicken of Eth did not have sufficient emergent properties to see this spontaneously arise, and DAO is there to try and rectify that. I am not saying this is bad, just the ETH is too knew for most models to adapt.

However given that around 10% of eth or more is in DAO, this looks open to another interpretation.

It sort of a like a mastercoin to made safe jump on a massive scale.

It seems Eth was widely more successful the the creators thought and they wanted to get some ETH back. So they invented dao.

If much more that 10% of Eth are collected, I wonder how well eth can function given the block or Eth in relatively small hands....if it get to 20%+ % then what?

its looking like DAO can dictate ETH terms, and this is a sort of reverse take over of ETH by DAO.

Maybe it will all work out for the better and I can see the logic of DOA to finally Make IOT more than a sticker name buzz word....

however I have been around too long to not have developed some health cynicism.

That said you may be forced to jump on the DAO boat at this point if you have ETH.

Yes, the DAO could exert a great deal of power over ETH. However, the chances are pretty good that the DAO will not be having constant  kumbaya moments. The chances are pretty good that eventually there will be one or more schisms, so there will be more than one DAO, or many will  just split on their own and retrieve their share of the ETH. Also, there is a chance that the proposals end up causing more losses than gains, so the DAOs influence would lessen.

[Sam123]

DAO is a SCAM

I don't believe it's a scam

[bitbitch]

http://www.coindesk.com/the-dao-just-raised-50-million-but-what-is-it/

this raises more questions than it answers. it reads like the inbred aristocracy of seventeenth century Europe, and we don't know who is behind all of it.

[tomkat]

I wonder how is DAO going to make profits out of the funded proposals?
Usually, startup funding is quite complex legal process, and I can't see any anti-fraund protection.
So the question is: how is DAO going to get its invested ETH back from the contractors?

[bcmine]

However given that around 10% of eth or more is in DAO, this looks open to another interpretation.

If much more that 10% of Eth are collected, I wonder how well eth can function given the block or Eth in relatively small hands....if it get to 20%+ % then what?

I think they will collect 30% of all ETH at the end. Or it could be that ETH will rise in value, then they collect less, but the total amount in $ would be bigger.

Now they have 10% of all ETH and I think thats just one third what they will collect at the end.

The price of ETH will skyrocket to 0.04. That what I see.

[Nxtblg]

http://www.coindesk.com/the-dao-just-raised-50-million-but-what-is-it/

this raises more questions than it answers. it reads like the inbred aristocracy of seventeenth century Europe, and we don't know who is behind all of it.

Hmmm....from what I see, it just looks like DAO.Link is providing a "jurisdiction gateway" to clear up some of the legality questions that an autonomous crowdfunding mechanism is already rising.

Those at Slock.it estimate that the decentralized "sharing economy" they envision will take 30 years or more to fully implement.

Levelheadedness - wotta concept.

[Mr.Ease]

so um... at this point, does anyone else feel like the project is overfunded?  i almost think i should have keep my eth...

Full disclaimer: I put 1 eth in for 100dao..

[mtnsaa]

so um... at this point, does anyone else feel like the project is overfunded?  i almost think i should have keep my eth...

Full disclaimer: I put 1 eth in for 100dao..

A lot of DAO tokens will be burned back to ETH so don't think that will be the final number it will decrease a lot, how much we don't know, it's pure speculation based on ETH price and DAO tokens price too when they start to get traded.

[bcmine]

so um... at this point, does anyone else feel like the project is overfunded?  i almost think i should have keep my eth...

Full disclaimer: I put 1 eth in for 100dao..

A lot of DAO tokens will be burned back to ETH so don't think that will be the final number it will decrease a lot, how much we don't know, it's pure speculation based on ETH price and DAO tokens price too when they start to get traded.

my speculation with numbers tells me they will create some 2 Billion tokens. The value in $ will depend on ETH price (i guess it will raise, but its very volatile, so hard to tell numbers). I do hope alot of people will buy some tokens to make this project a full success. The more money they collect, the more they can spend on projects :-)

[CryptoMaik]

Why should we buy DAO / investing?

What we can we do with it? it is not sensible to simply buy ETH?

what does/said the community

[bitbitch]

However given that around 10% of eth or more is in DAO, this looks open to another interpretation.

If much more that 10% of Eth are collected, I wonder how well eth can function given the block or Eth in relatively small hands....if it get to 20%+ % then what?

I think they will collect 30% of all ETH at the end. Or it could be that ETH will rise in value, then they collect less, but the total amount in $ would be bigger.

Now they have 10% of all ETH and I think thats just one third what they will collect at the end.

The price of ETH will skyrocket to 0.04. That what I see.

if ETH price rockets will it be a race to see who can exit the DAO first?

[_Victory_]

It will be interesteing to see which cross will be the more heavily traded
DAO/ETH   or   DAO/BTC ??

[bugsywugsy]

Has the purchasing of DAO slowed down at all? Where can I look at volume numbers, etc?