ETH to DAO swap at Bittrex

[bugsywugsy]

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

[Soul_eater_123]

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.

[Soul_eater_123]

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.

[CryptoCoinWareHouse]

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.

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

[electronicash]

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.

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.

[Soul_eater_123]

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

[CryptoCoinWareHouse]

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.

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

[CryptoCoinWareHouse]

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

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

[CryptoCoinWareHouse]

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.

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

[Soul_eater_123]

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

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

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)site where there are a lot of resources and related info.
The forums are also quite useful: 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).

[Soul_eater_123]

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.

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

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.

[CryptoCoinWareHouse]

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

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

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)site where there are a lot of resources and related info.
The forums are also quite useful: 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).

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

[lanbo]

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

[fezington]

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.

[ShooterXD]

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

Stay safe!!!

[smaxz]

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.

[Soul_eater_123]

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

Not sure what you mean.

[Soul_eater_123]

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.

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).

[Soul_eater_123]

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/

[ShooterXD]

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