DAO questions

[rocketron]

Hi all,

just trying to get my head around the DAO before I invest.

so its possible to take back your eth if you want to opt out of the dao in the future, does this mean you get the same amount of eth back that you invested or can that change go up and down?

[1714964990]

1714964990

[mtnsaa]

Hi all,

just trying to get my head around the DAO before I invest.

so its possible to take back your eth if you want to opt out of the dao in the future, does this mean you get the same amount of eth back that you invested or can that change go up and down?

I already invested but it's very confusing since it's a complete new concept, nobody really knows for sure how it will all work and when they try to explain it's actually more confusing since 100 more questions pop out.

But regarding your question, yes, if there are no surprises you can split from the DAO (before any proposal is approved) and you will get your ETH back.

[rocketron]

thanks for your reply.,

I will admit it is very confusing

I suppose if I  have nothing to lose then if I invest and then later decide I am out I can get back my original amount of eth back, that kinda changes the amount of eth I will invest, I might go 50/50




quote author=mtnsaa link=topic=1468952.msg14820828#msg14820828 date=1462990462]

Hi all,

just trying to get my head around the DAO before I invest.

so its possible to take back your eth if you want to opt out of the dao in the future, does this mean you get the same amount of eth back that you invested or can that change go up and down?

I already invested but it's very confusing since it's a complete new concept, nobody really knows for sure how it will all work and when they try to explain it's actually more confusing since 100 more questions pop out.

But regarding your question, yes, if there are no surprises you can split from the DAO (before any proposal is approved) and you will get your ETH back.
[/quote]

[klarki]

Is it possible to return the invested funds?
Sale after going through Bittrex exchange.
If you get to return the funds, please let me know.

[damashup]

Hi all,

just trying to get my head around the DAO before I invest.

so its possible to take back your eth if you want to opt out of the dao in the future, does this mean you get the same amount of eth back that you invested or can that change go up and down?

It's fairly straightforward (I think!).

Say The DAO raises 100m eth in total and you invested 10m eth (10% of the total).

If The DAO agrees to give 50m eth (50% of the total) to the Slock.it Proposal then 50% of your investment (5m eth) will go to Slock.it (assuming you don't 'split' ahead of the proposal being accepted).

In return for your 5m eth invested into the Slock.it Proposal, you would get 10% of the Slock.it rewardTokens (a pro rated share). Any money that Slock.it brings into The DAO (under this proposal), you get 10% of the proceeds.

Your remaining 5m eth remains in The DAO and can be used to fund future proposals.

If you really hate the next proposal and/or the curators (or whatever), you can choose to 'split' from The DAO and effectively take out the remaining 5m eth. Although I don't think it's as simple as hitting a 'withdraw my remaining eth' button - you have to get your hands dirty and effectively splitter off into your own DAO etc etc, as far as I understand.

You cannot get back the 5m eth that went to Slock.it, although you do keep the rewardTokens (10% of any money the DAO makes off of the Slock.it contract you invested in) - unless you choose to transfer these to someone else.

Caveat: this is my interpretation of the White Paper. I suggest you give it a read before deciding whether to invest.

Is it possible to return the invested funds?
Sale after going through Bittrex exchange.
If you get to return the funds, please let me know.

If your DAO tokens are on an Exchange then you're at the mercy of that Exchange in terms of rewardTokens, how they vote, whether they split, whether they go with a fork and what they decide to do with regards to reducing your holdings when proposals are accepted. TLDR: don't leave your tokens on the Exchange, unless you're solely interested in trading DAO tokens.




 

[rocketron]

Thanks for that reply,

I understand more now, but its still confusing as hell haha

OK so the 5m eth has gone into slock.it, in return i own tokens in slock.it, can those reward tokens be then sold or traded on exchange? and the actual dao tokens themself they will be tradeable ?

[mtnsaa]

Thanks for that reply,

I understand more now, but its still confusing as hell haha

OK so the 5m eth has gone into slock.it, in return i own tokens in slock.it, can those reward tokens be then sold or traded on exchange? and the actual dao tokens themself they will be tradeable ?

Yes they will be tradeable like DGD (DigixDAO). I think the rewards can be either in DAO tokens to increase your position or you can opt for ETH.

[CryptoCoinWareHouse]

So to be clear if I just want to keep the DAO on bittrex only will I do better there and trade them when price goes up or will make more if I put them on a wallet and be part of a contract

[2c0de]

I've actually invested 14 BTC to the DAO. A great concept, digital autonomous organizations have the potential to change the world.

[Minecache]

I've actually invested 14 BTC to the DAO. A great concept, digital autonomous organizations have the potential to change the world.

Wow that's a good healthy chunk of DAO you got there.

[CryptoCoinWareHouse]

So to be clear if I just want to keep the DAO on bittrex only will I do better there and trade them when price goes up or will make more if I put them on a wallet and be part of a contract

If you hold them on bittrex, then you have to trust bittrex to do the voting for you.  

And you also have to trust bittrex to send any ETH dividends from proposals to your bittrex account.

And you have to trust that no one hacks your bittrex account or bittrex.

I personally would hold the DAO tokens in a local wallet.  It's risky to store crypto on a centralized exchange for any longer than necessary.

Ok we're is a 'local DAO' wallet I can get

[CryptoCoinWareHouse]

-know s o I bought have DAO on bittrex how could I move them to the ETH wallet

[CryptoCoinWareHouse]

So to be clear if I just want to keep the DAO on bittrex only will I do better there and trade them when price goes up or will make more if I put them on a wallet and be part of a contract

If you hold them on bittrex, then you have to trust bittrex to do the voting for you.  

And you also have to trust bittrex to send any ETH dividends from proposals to your bittrex account.

And you have to trust that no one hacks your bittrex account or bittrex.

I personally would hold the DAO tokens in a local wallet.  It's risky to store crypto on a centralized exchange for any longer than necessary.

So to be clear if I have DAO in my ETH wallet do I have to be part of a contract vote , what is the time frame to vote yes
Or no   And if I don't vote is it an auto yes vote ?

[CryptoCoinWareHouse]

Hi all,

just trying to get my head around the DAO before I invest.

so its possible to take back your eth if you want to opt out of the dao in the future, does this mean you get the same amount of eth back that you invested or can that change go up and down?

I already invested but it's very confusing since it's a complete new concept, nobody really knows for sure how it will all work and when they try to explain it's actually more confusing since 100 more questions pop out.

But regarding your question, yes, if there are no surprises you can split from the DAO (before any proposal is approved) and you will get your ETH back.

So if you do nothing i.e.: SPLIT what is the default ?  If u do nothing is it auto a yes vote or if you do nothing at voting time do you get ETH back for the DAO

[CryptoCoinWareHouse]

On a Mac when you download the ETH wallet how do you upgrade the wallet with new  version do you just replace the ETH file and leave all other files alone in folder ? 

[DeadBirdzz]

Interesting analysis of the DAO

http://www.cameronhuff.com/blog/slock-it-dao-paper/index.html