Why would anyone buy this DAO crap?

[d-trix]

I am thinking of buying some DAO with my hard earned Ethereum. The DAO price might rise in the listing.

The rise in price of DAO is inevitable, at the end of the month it will be the highest funded crowdfunding project to date.

[rdnkjdi]

R0ach.  The reason is because the way the contract is setup before any proposals are voted on pre-investors can withdraw 100% of their originally invested Ethereum (assuming they purchased in the first 14 days).  After the first 14 days the price goes up by 5% a day until it's at 150% (the additional price bumps can't be withdrawn).

I suspect it's people gambling on supply and demand - "If someone is willing to pay 150% on day 31 then I'll be able to sell it on open market for 150%.  Also it will never be worth less than what I paid for it in Eth because I can just cash it out (until crowdfunding starts using the money to fund stuff).

I'm sure there are some hardcore believers.  But only a fraction of the people who purchased DAO.  

P.S.  They just extended the presale by one day.  If you wanted to short Ethereum now's the time to do it.

[electronicash]

Simple.
Buy in before the price rises 50% by the end of the ico.
Cash out afterward with a guaranteed split (as stated in the terms) for instant 50% profit

An easy 50% instant profit ? hard to believe, I am not doubting you, I am doubting DAO.

Everyone has doubts. even t hose that invest actually. they don't know the outcome really but seeing how the project may turn out, there is a higher possibility of having a good profit like how the other coins had succeeded.  Some may see DAO better than Lisk and some don't.

[Minecache]

I am thinking of buying some DAO with my hard earned Ethereum. The DAO price might rise in the listing.

DAO is a good bet in the future if you have a few spare ETH to invest. I believe I the tech of ETH and DAO so much I've invested a few BTC valuations. And I'd encourage all others to do so too. We are at the precipice of life changing technology for all for the whole wide world. Invest in it and be a winner.

Ps. The naysayers are the almOst identical ones in 2009/10 who criticised against Bitcoin. Don't make the same mistake.

[sockpuppet1]

Re: DAU replaces DAO

3) Finally, this fund-raise is now of a size that it's going to attract SEC attention. If it were a $1m raise, it could be a great experiment, grow with network, and not attract undue legal attention this early. But it looks like it may flirt with $100m. Already at over $75m, this is something the SEC will care about. But what can they do, you might ask? Well, they can declare the project to be an illegal securities offering (Slock.it's language in their terms doesn't matter; only the SEC's interpretation matters), and then track the ETH payments that come out of the DAO and freeze them (by making it clear to exchanges that the funds represent illegal flows). Then holders would be forced to go through dubious (and largely trackable) channels in order to access their funds.

Maybe none of the above would happen; maybe the SEC won't care, etc, but with such large value already locked in the DAO, it's become a significant and increasing risk in my opinion.

tldr: this has gotten out of hand, both for the network/ecosystem in organic terms, and in terms of attracting SEC scrutiny.

The rise in price of DAO is inevitable, at the end of the month it will be the highest funded crowdfunding project to date.

R0ach.  The reason is because the way the contract is setup before any proposals are voted on pre-investors can withdraw 100% of their originally invested Ethereum (assuming they purchased in the first 14 days).  After the first 14 days the price goes up by 5% a day until it's at 150% (the additional price bumps can't be withdrawn).

I suspect it's people gambling on supply and demand - "If someone is willing to pay 150% on day 31 then I'll be able to sell it on open market for 150%.  Also it will never be worth less than what I paid for it in Eth because I can just cash it out (until crowdfunding starts using the money to fund stuff).

SEC sent out a warning in January 2016. Hope the pumpers are preparing for their jail time:

There is a reason why the SEC issued a warning about Crypto coins calling them scams..
Read it yourselves.. https://www.sec.gov/investor/alerts/ia_virtualcurrencies.pdf (Issued Jan 4th 2016)

We are concerned that the rising use of virtual currencies
in the global marketplace may entice fraudsters to lure
investors into Ponzi and other schemes in which these
currencies are used to facilitate fraudulent, or simply
fabricated, investments or transactions. the fraud may
also involve an unregistered offering or trading platform.
these schemes often promise high returns for getting in
on the ground floor of a growing Internet phenomenon.
Fraudsters may also be attracted to using virtual
currencies to perpetrate their frauds because transactions
in virtual currencies supposedly have
greater privacy
benefits and less regulatory oversight than transactions in
con
ventional currencies. Any investment in securities in
the United states remains subject to the jurisdiction
of the seC regardless of whether the investment is made
in U.s. dollars or a virtual currency.
In particular,
individuals selling investments are typically subject
to federal or state licensing requirements.

[bittraffic]

I am thinking of buying some DAO with my hard earned Ethereum. The DAO price might rise in the listing.

DAO is a good bet in the future if you have a few spare ETH to invest. I believe I the tech of ETH and DAO so much I've invested a few BTC valuations. And I'd encourage all others to do so too. We are at the precipice of life changing technology for all for the whole wide world. Invest in it and be a winner.

Ps. The naysayers are the almOst identical ones in 2009/10 who criticised against Bitcoin. Don't make the same mistake.

We are once again in the stage of becoming an early adopter. I never thought of engaging with bitcoin back when it was still very cheap taht is why from now on once I encounter an opportunity which i believe to be very useful in the future I grab it like what i did with ETH. I belvie the rest of us have also invested on the rest like Lisk and Waves but yeah few extra ETH won't hurt.

[The Sceptical Chymist]

Roach, I'm curious why you say the stock market is going to crash, because I think the bull market still has some life left in it.  2008 seems like just yesterday for me and we're still recovering from that crisis.   I do own stocks and I don't even know what a DAO is.

[BitFomo]

Roach, I'm curious why you say the stock market is going to crash, because I think the bull market still has some life left in it.  2008 seems like just yesterday for me and we're still recovering from that crisis.   I do own stocks and I don't even know what a DAO is.

Look at the chart for s&p... chances are it goes down than up from here.

[The Sceptical Chymist]

Roach, I'm curious why you say the stock market is going to crash, because I think the bull market still has some life left in it.  2008 seems like just yesterday for me and we're still recovering from that crisis.   I do own stocks and I don't even know what a DAO is.

Look at the chart for s&p... chances are it goes down than up from here.

But that just isn't true.  But what's your timeframe for that anyway?  You can say the market is going to go down and eventually that'll be true, but the critical piece of info is when.

[Sark]

An easy 50% instant profit ? hard to believe, I am not doubting you, I am doubting DAO.

This has long been accounted for in the DAO code. This line of profit taking just doesn't work.

[BitcoinHodler]

i am only looking for rises and falls in altcoins no matter what they are called

and since i missed this DAO thing i didn't buy and i already had my funds stuck elsewhere anyways

[Minecache]

An easy 50% instant profit ? hard to believe, I am not doubting you, I am doubting DAO.

This has long been accounted for in the DAO code. This line of profit taking just doesn't work.

It doesn't work? It's doesn't fuckin exist. And if these DAO naysayer fucktards would bother to read and understand a line of DAO smart contract code they would realise this and quit their bullshit fudding. DAO is toned best opportunity since sliced bread. Even if you only invest 1 ETH into it you will still be a winner.

[r0ach]

An easy 50% instant profit ? hard to believe, I am not doubting you, I am doubting DAO.

This has long been accounted for in the DAO code. This line of profit taking just doesn't work.

It doesn't work? It's doesn't fuckin exist. And if these DAO naysayer fucktards would bother to read and understand a line of DAO smart contract code they would realise this and quit their bullshit fudding. DAO is toned best opportunity since sliced bread. Even if you only invest 1 ETH into it you will still be a winner.

I'm not sure what's more ridiculous, the amount of pro-Eth shilling you do, or the fact that you do it while having a ponzi scheme in your signature.

"Hey guys, I promise you this Eth thing will go to $1000 each any second.  I'm just an average dude off the street of high moral character, you can totally trust me.  By the way, check out this Ponzi scheme!"

[AbsoluteT]

The DAO price has a chance to raise after the end of crowed sale and you can always take your ethereum back so there no risk with potential gains

[socks435]

The DAO price has a chance to raise after the end of crowed sale and you can always take your ethereum back so there no risk with potential gains

How you sure that dao will be valuable after they release it in the market?
I heard many people are complaining it.. but really dont know what is the potencial of DAO.

[smooth]

I bought a little because I got confused by all the mania and thought it was Powerball. When is the drawing?

[altcoinUK]

You would be far better off buying something on the real stock market where you can personally verify some type of fundamentals ...

Precisely.  (not sure about the crash so I removed that from your comment.)

[tokeweed]

<r0ach> we are going into a liquidity crunch where liquid cash is the most valuable asset (fiat paper not in a bank, bitcoin, gold, etc) and stocks are going to crash.  Yet these guys are investing in something with the fundamental of a stock, except it has no product, no revenue, no employees, no business, no nothing.

<r0ach> so even if they manage to get that put together and develop something, it's still the same thing as buying any random stock

<r0ach> and slock.it is pointless

You would be far better off buying something on the real stock market where you can personally verify some type of fundamentals, but all of those are going to crash anyway.

It's something new.  Just like how you bought into BTS, remember?  Not all projects become a success though...  Most people lose money buying into these things.  It's the reason why there are a lot of avid whiners around here.

[cryptodv]

Sent all my pre-sale Eth to Dao the first day. Didn't think it would hit 100 mil. Whoa! 

[CryptoCoinWareHouse]

<r0ach> we are going into a liquidity crunch where liquid cash is the most valuable asset (fiat paper not in a bank, bitcoin, gold, etc) and stocks are going to crash.  Yet these guys are investing in something with the fundamental of a stock, except it has no product, no revenue, no employees, no business, no nothing.

<r0ach> so even if they manage to get that put together and develop something, it's still the same thing as buying any random stock

<r0ach> and slock.it is pointless

You would be far better off buying something on the real stock market where you can personally verify some type of fundamentals, but all of those are going to crash anyway.

It's something new.  Just like how you bought into BTS, remember?  Not all projects become a success though...  Most people lose money buying into these things.  It's the reason why there are a lot of avid whiners around here.

I verified buying into ETH at first and made 20k kicking my self could of been 100k