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ToScA-
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May 18, 2016, 09:59:10 PM |
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what is dao exactly, just a decentralized platform, like freenet or stuff like that? or it has to do witht he pos of ethereum?
I don't get it either. Can someone succinctly explain what the hell DAO is, and its relationship to Eth?  The biggest pump n dump in history off cryptos Its like a investment fund, which will invest in crypto-companys. Decicions are set by voting (weighted by your DAO share). Haha, Ah, well-explained - just as succinctly as I requested. Thank you! It doesn't really sound THAT bad when you put it that way. I guess a problem presents itself when people with an overwhelming share in DAO have a lot more voting power than others? But that's only fair - the more you've invested, the more decision-making power should be in your hands...right?  |
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"You Asked For Change, We Gave You Coins" -- casascius
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Sark
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May 19, 2016, 12:01:20 AM |
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The thing is that if the DAO is not very successful or for some reason doesn't work very well (can't agree on investments or doesn't get suitable proposals), it will just kind of dissolve as everyone splits out of it.
While that will be seen as a "failure", it would be hardly epic since people would get most or even all of the funds they put into it in the first place.
I for one think that it is probably too big to be useful at this point, but it could very well split into 50 different DAOs all funding different projects. That may not fulfill the great pie in the sky fantasies that people have of "The DAO", but it would fund a lot of startups, some of which will be successful. What it definitely will be successful at is bringing a lot of startups to the Ethereum ecosystem.
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Zer0Sum
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May 19, 2016, 01:31:17 AM |
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The thing is that if the DAO is not very successful or for some reason doesn't work very well (can't agree on investments or doesn't get suitable proposals), it will just kind of dissolve as everyone splits out of it.
While that will be seen as a "failure", it would be hardly epic since people would get most or even all of the funds they put into it in the first place.
I for one think that it is probably too big to be useful at this point, but it could very well split into 50 different DAOs all funding different projects. That may not fulfill the great pie in the sky fantasies that people have of "The DAO", but it would fund a lot of startups, some of which will be successful. What it definitely will be successful at is bringing a lot of startups to the Ethereum ecosystem.
If the Principals are not on their 3rd or 4th business at least... And can't get funding from experienced Venture Investors... then the money is being SET ON FIRE. We already have about 1000 Alt crypto-networks. How many of them have a non-trivial revenue stream? < 1%? The worst in human nature = desperation to catch a ride on the next Speculative Bubble... It's Pride + Envy + Wrath + Gluttony + Lust + Sloth + Greed p2p decentralized. |
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DecentralizeEconomics
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May 19, 2016, 06:08:07 AM |
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You forgot the best one  |
"Give me the liberty to know, to utter, and to argue freely according to conscience, above all liberties." - Areopagitica
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sofu
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May 19, 2016, 08:16:13 AM |
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r0ach
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May 19, 2016, 04:47:22 PM |
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Well, looks like somebody will be getting screwed somewhere down the line. They will likely just go after that Slock.it guy since he was the "curator" and then notorious altcoin scammer Butalik. Here's the concern: if you don't formalize a legal structure for a human-created entity, courts will impose one for you. As most lawyers will tell you: a general partnership, unless properly formalized or a deliberately created structure, is a Very Bad Thing |
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Seggbek Ur
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May 19, 2016, 04:48:56 PM |
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DAO is a very good job.
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sandiman
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May 19, 2016, 04:55:32 PM |
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Well, looks like somebody will be getting screwed somewhere down the line. They will likely just go after that Slock.it guy since he was the "curator" and then notorious altcoin scammer Butalik. Here's the concern: if you don't formalize a legal structure for a human-created entity, courts will impose one for you. As most lawyers will tell you: a general partnership, unless properly formalized or a deliberately created structure, is a Very Bad Thing As if it wasn't know that lawyer loves changes. |
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TrueAnon
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May 19, 2016, 07:33:21 PM |
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Well, looks like somebody will be getting screwed somewhere down the line. They will likely just go after that Slock.it guy since he was the "curator" and then notorious altcoin scammer Butalik. Here's the concern: if you don't formalize a legal structure for a human-created entity, courts will impose one for you. As most lawyers will tell you: a general partnership, unless properly formalized or a deliberately created structure, is a Very Bad Thing That's interesting but can that apply to crypto?? |
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GreenBits
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May 19, 2016, 07:46:24 PM |
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Well, looks like somebody will be getting screwed somewhere down the line. They will likely just go after that Slock.it guy since he was the "curator" and then notorious altcoin scammer Butalik. Here's the concern: if you don't formalize a legal structure for a human-created entity, courts will impose one for you. As most lawyers will tell you: a general partnership, unless properly formalized or a deliberately created structure, is a Very Bad Thing That's interesting but can that apply to crypto?? All crypto assets are technically securities. I shit you not. when you ask some one for money and promise them returns, it's a security. The SEC thinks so at least. |
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Sark
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May 22, 2016, 05:58:41 PM |
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If the Principals are not on their 3rd or 4th business at least...
And can't get funding from experienced Venture Investors... then the money is being SET ON FIRE.
We already have about 1000 Alt crypto-networks. How many of them have a non-trivial revenue stream? < 1%?
The worst in human nature = desperation to catch a ride on the next Speculative Bubble...
It's Pride + Envy + Wrath + Gluttony + Lust + Sloth + Greed p2p decentralized.
Obviously it remains to be seen, but my feeling is that the DAO will vote down those types of proposals. Thats the entire social experiment anyway - how well will the "crowd" choose where to invest. I definitely understand your skepticism, but I also see some hope that they will be able to sort through the bad proposals. Other high quality startups may look at the DAO as a way to get funding without having to give away a huge portion of their ownership of the company. Many other start ups simply have a hard time getting funding because they don't operate in Silicon Valley. |
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Sark
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May 22, 2016, 05:59:27 PM |
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Looks like the DAO made the front page of the Sunday New York Times print paper.
Honestly, that is amazing.
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Estimated
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May 29, 2016, 07:11:26 PM |
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The DAO dropped 17% against bitcoin today. The bitcoin price rose 8%, so it dropped 9% against dollar.
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KawaBunGa
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May 31, 2016, 09:41:25 AM |
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The DAO dropped 17% against bitcoin today. The bitcoin price rose 8%, so it dropped 9% against dollar.
Yeah. Suppose everybody is waiting for some major major news to come |
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Basaleyi
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May 31, 2016, 09:46:40 AM |
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I lost 20 % of my total investment in DAO so DAO will be dead if the company not sell any product in coming days
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KawaBunGa
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May 31, 2016, 12:24:08 PM |
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I lost 20 % of my total investment in DAO so DAO will be dead if the company not sell any product in coming days
It's not supposed to sell anything. It's supposed to invest in other projects, like Slock.it's Ethereum computer |
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acdc
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June 17, 2016, 09:21:17 AM |
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Looks like the DAO made the front page of the Sunday New York Times print paper.
Honestly, that is amazing.
If The DAO goes to zero this will be the BIGGEST news story in crypto history, that's some consolation ... there's no such thing as bad publicity as they say, for good coins this might be an opportunity, especially the simple 1.0 coins without all the bells & whistles |
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MHopkins
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June 17, 2016, 10:22:49 AM |
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As I understand it, this is a DAO bug exploit not an Eth bug.
I imagine that Eth will survive but people will be a lot more sceptical of contract ICOs.
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