Why would anyone buy this DAO crap?

[MicroGuy]

https://twitter.com/kyletorpey/status/730535910949916672

~~

[1714658255]

1714658255

[1714658255]

1714658255

[tokeweed]

Lol Kyle_Torpey!

[r0ach]

The decentralized autonomous company has already been explored with things like Bitshares.  Frankly, it kinda sucks.  You have people providing decentralized funding, then the workers that take it have no real incentive or liability to perform unless the worker is already a huge shareholder...but that kind of extremely narrows down your field of workers doesn't it?  You could issue legal contracts with the workers and sue them if they don't perform, but who is the figurehead of the DAO that handles all these things and appears in court?  The DAO converges to centralization resembling a normal, publicly traded company because business is only efficient in a strict, hierarchical, top-down function.

So what exactly do you accomplish out of all this?  If the DAO doesn't collapse on the way to it's evolution in becoming top-down controlled, your only real benefit is the ability to bypass the legal framework and issue a publicly traded stock from your basement (which will probably get people arrested somehow).  So the pros are slightly less legal bureaucracy (only in the short term), with the cons of having nobody at the helm of the company who actually has any idea what they're doing with a valid business plan (you know, the actual important part of a business).

[finishedgrey]

Is this a worth coin to be invested?

[Spoetnik]

https://twitter.com/kyletorpey/status/730535910949916672

~~

That is priceless LOL 

and Good to see ya still around MicroGuy.. Altcoin Oldtimer LOL

[Gillette]

DAO crap is as crap as ETH !

[tokeweed]

The decentralized autonomous company has already been explored with things like Bitshares.  Frankly, it kinda sucks.  You have people providing decentralized funding, then the workers that take it have no real incentive or liability to perform unless the worker is already a huge shareholder...but that kind of extremely narrows down your field of workers doesn't it?  You could issue legal contracts with the workers and sue them if they don't perform, but who is the figurehead of the DAO that handles all these things and appears in court?  The DAO converges to centralization resembling a normal, publicly traded company because business is only efficient in a strict, hierarchical, top-down function.

So what exactly do you accomplish out of all this?  If the DAO doesn't collapse on the way to it's evolution in becoming top-down controlled, your only real benefit is the ability to bypass the legal framework and issue a publicly traded stock from your basement (which will probably get people arrested somehow).  So the pros are slightly less legal bureaucracy (only in the short term), with the cons of having nobody at the helm of the company who actually has any idea what they're doing with a valid business plan (you know, the actual important part of a business).

Sure.  But give it a chance and see where it goes this time around.  

Edit:  Like people here have a choice whatever they say.  The DAO crowdfund is ongoing and could be the largest in history of crowdfunding.

[Denker]

This is going to be one, if not the biggest scam in cryptoland so far!!
Unbelievable how stupid people can be!

[sockpuppet1]

DAO crap is as crap as ETH !

"Crap I failed to buy that 1000% ROI crap."

We were crazy for ignoring what Bernie SandersMadoff was selling, until the clawbacks[1]...

Oh so you aren't aware they can come take your profits long after you've disposed of the asset. This is a clawback.[1]

[1]	http://www.businessinsider.com/the-truth-behind-how-gerald-celente-got-screwed-by-mf-global-2011-11 http://www.businessinsider.com/two-mf-global-clients-share-their-stories-2011-11

[jjacob]

This is going to be one, if not the biggest scam in cryptoland so far!!
Unbelievable how stupid people can be!

Stupid + Greedy.
The fear of missing out on an ETH like rally is driving all the investments.

[Kairoz]

I bought it just because the hype.

[sandiman]

I bought it just because the hype.

You will probably be burned by the whale as soon as they try to get more DAO from the weak hands.

[altcoinUK]

The decentralized autonomous company has already been explored with things like Bitshares.  Frankly, it kinda sucks.  You have people providing decentralized funding, then the workers that take it have no real incentive or liability to perform unless the worker is already a huge shareholder...but that kind of extremely narrows down your field of workers doesn't it?  You could issue legal contracts with the workers and sue them if they don't perform, but who is the figurehead of the DAO that handles all these things and appears in court?  The DAO converges to centralization resembling a normal, publicly traded company because business is only efficient in a strict, hierarchical, top-down function.

So what exactly do you accomplish out of all this?  If the DAO doesn't collapse on the way to it's evolution in becoming top-down controlled, your only real benefit is the ability to bypass the legal framework and issue a publicly traded stock from your basement (which will probably get people arrested somehow).  So the pros are slightly less legal bureaucracy (only in the short term), with the cons of having nobody at the helm of the company who actually has any idea what they're doing with a valid business plan (you know, the actual important part of a business).

That is the main issue with DAO. A graduate level lawyer would be able to explain to the idiots why this is an unsolvable issue with DAO. (Not that the idiots who "invest" in this nonsense would care at all as they couldn't care less about DAO - they are involved to realize the "ROI").

http://www.coindesk.com/how-to-sue-a-decentralized-autonomous-organization/

"Second, for a DAO to operate in a world in which legal relationships are formalized by contracts, and enforced by courts, I don't see how a DAO can act unless it is either a corporation or it has no corporate form and it is simply an extension of its human members."

and this is the most interesting bit

"Among other things, the members of a general partnership can end up jointly and severally liable on a personal basis for partnership obligations. One potential flaw in their structure is that they may not have assets from which to indemnify third parties.".

However the DAO operators try to twist the facts around the legal responsibility issue, the court will enforce its orders and rulings on the human operators of the network. Would Vitalik get as far as operating a DAO? I doubt he will. It is nothing else but selling a useless, fraudulent fucking cryptoasset.

[goostatic74829]

https://twitter.com/kyletorpey/status/730535910949916672

~~

Lol good one

[ProfessionalGoogler]

Notice how all the negative things said about Eth, then a month later these FUDers get proven wrong.

Stop trying, Eth along with everything created on top of it is here to stay, and yes it is real.

End the FUD.

[altcoinUK]

it is here to stay, and yes it is real.

Idiot. Only the legal issues of a DAO are real and here to stay.

[jmpFCE2]

The decentralized autonomous company has already been explored with things like Bitshares.  Frankly, it kinda sucks.  You have people providing decentralized funding, then the workers that take it have no real incentive or liability to perform unless the worker is already a huge shareholder...but that kind of extremely narrows down your field of workers doesn't it?  You could issue legal contracts with the workers and sue them if they don't perform, but who is the figurehead of the DAO that handles all these things and appears in court?  The DAO converges to centralization resembling a normal, publicly traded company because business is only efficient in a strict, hierarchical, top-down function.

So what exactly do you accomplish out of all this?  If the DAO doesn't collapse on the way to it's evolution in becoming top-down controlled, your only real benefit is the ability to bypass the legal framework and issue a publicly traded stock from your basement (which will probably get people arrested somehow).  So the pros are slightly less legal bureaucracy (only in the short term), with the cons of having nobody at the helm of the company who actually has any idea what they're doing with a valid business plan (you know, the actual important part of a business).

hf bagholder, with your pointless, outdated clone coin and play games while the world moves on

[smooth]

The decentralized autonomous company has already been explored with things like Bitshares.  Frankly, it kinda sucks.  You have people providing decentralized funding, then the workers that take it have no real incentive or liability to perform unless the worker is already a huge shareholder...but that kind of extremely narrows down your field of workers doesn't it?  You could issue legal contracts with the workers and sue them if they don't perform, but who is the figurehead of the DAO that handles all these things and appears in court?  The DAO converges to centralization resembling a normal, publicly traded company because business is only efficient in a strict, hierarchical, top-down function.

So what exactly do you accomplish out of all this?  If the DAO doesn't collapse on the way to it's evolution in becoming top-down controlled, your only real benefit is the ability to bypass the legal framework and issue a publicly traded stock from your basement (which will probably get people arrested somehow).  So the pros are slightly less legal bureaucracy (only in the short term), with the cons of having nobody at the helm of the company who actually has any idea what they're doing with a valid business plan (you know, the actual important part of a business).

hf bagholder, with your pointless, outdated clone coin and play games while the world moves on

I don't know for sure but I don't think r0ach is a BTS bag holder. He was involved earlier but probably sold long ago and is sharing his (relevant imo) experience.

[Spoetnik]

Notice how all the negative things said about Eth, then a month later these FUDers get proven wrong.

Stop trying, Eth along with everything created on top of it is here to stay, and yes it is real.

End the FUD.

This is NOT a topic about ETH believe it nor Shill.

And you just lied through your teeth.. badly. 

People this Ethereum clown is not too smart.. he couldn't make hot in a fire !

[trickytricky]

have to wait and c what happens