Pitching the word '
revolution' in the first marketing sentence is a more effective way to start another ETH style pump.
Here we go again with the inane fantasies of the Delirium (Bitalik Vuterin) ecosystem.
No it's not, because it's basically the same as any other ICO.
No there is a very significant difference.
> If you had a project which needed to be funded, why would you create a DAO
IMO, this is the backwards way to think about this. The people that are providing funds to companies might (should) start insisting that they work with DAOs that they are part of. This allows investors to retain leverage and power over their money. In ICOs the investors usually have little to no power after their investment and lead to a lot of situations where the investors get taken advantage of.
You seem to not believe and/or understand why direct democracy results in abject failure.
I do not believe in the smart crowd.
This is quite an interesting paradox. There are two very famous sayings that demonstate this.
The wisdom of the crowd is positive: "Two heads are better than one."
The wisdom of the crowd is negative: "Too many cooks spoil the broth."
Direct democracy has never existed and never will, because organization of work is incongruent with such a flat decision hierarchy. It is one of the reasons that Communism ends up as despotism.
Switzerland, despite being applauded as a role model of direct democracy in a modern society, actually applies an indirect democracy instead. However, its political system leaves room for direct election and referendum.
Direct democracy lacks procedures, promotes rigid uniformity. It restrains society, and causes despotism.
Such a democracy demands all citizens to have an unambiguous, either-yes-or-no opinion, which is quite often extreme, on each and every issue.
It ignores the complexity and ambiguity of issues, thus this decision-making often encourages people to resort to their basic emotions instead of their rational judgement.
This way of decision-making leads to a strict uniformity well known to the Chinese population, discounting the fact that citizens often don’t have a clear-cut position on many issues.
Athens was run by the merchant class. There was no direct democracy. There never has been and there never will be, because flat structures do not function. The uniform distribution doesn't exist in nature, it is only a delusion of man.
Can you imagine a ship at sea in a storm with 100 people at the helm fighting over each navigation decision.
What you will end up with is a normal corporate structure with a board and the investors will vote to elect the board which oversees and makes the decisions for the corporation.
This is no different than an ICO that matures into being a real company with shareholders.
The real issue here is that crypto-currency which is not distributed by decentralized proof-of-work is
masquerading as an illegal unregistered investment security. Thus the desire to side-skirt securities law by creating a token that can vote on governance. But this functionally must end up the same as a voting share in a corporation, thus it is still an illegal, unregistered investment security.
Please quote my post before it is deleted by the mods.When will two left-thumbs Elmer Fudd (aka theymoist) learn he can't ban an expert hacker. Technically impossible if he also allows anonymous trolls. Make up your mind theymouse. Are you for freedom-of-speech or not? I wanted to respect you, but I learned that you've been censoring the debates about Bitcoin.
