[2016-05-17] Medium: The DAO: How to not fuck it up!

[eye4bd]

The DAO: How to not fuck it up!

For the last fortnight, we, the Ethereum community, have been creating “The DAO”.
We’re at ~$130M right now (subject to the price of Ether), and that I’m sure will jump substantially before the creation period ends......

https://medium.com/@colony/the-dao-how-to-not-fuck-it-up-5d57f354d0e7#.ihznx3lla

[TraderTimm]

"Hey guys, lets pile all that money into a nebulous 'fund' that will do fundy things and fund other fundy things and maybe it will be cool, but I don't know, maybe not."

So, zero plan, and its a pile of money sloshing around that maybe will do something. Great. So much innovation, I might have to call Silicon Valley VC's and get them to fund their funds into the fundy thing of funds.

Or not.

[alani123]

"Hey guys, lets pile all that money into a nebulous 'fund' that will do fundy things and fund other fundy things and maybe it will be cool, but I don't know, maybe not."

So, zero plan, and its a pile of money sloshing around that maybe will do something. Great. So much innovation, I might have to call Silicon Valley VC's and get them to fund their funds into the fundy thing of funds.

Or not.

There is a plan, but the thing is that most people that have put money in this are in it for the potential short term -and riskless- profit. That's until a proposal is out and I suppose those won't go out unannounced. So we'll probably see an exodus sooner or later after a proposal is announced. 

[TraderTimm]

There is a plan, but the thing is that most people that have put money in this are in it for the potential short term -and riskless- profit. That's until a proposal is out and I suppose those won't go out unannounced. So we'll probably see an exodus sooner or later after a proposal is announced. 

No such thing as "riskless", my friend.

Good luck with the fundy thing of funds funding other fundy things that may make funds for the original funders.

LOL.

[alani123]

There is a plan, but the thing is that most people that have put money in this are in it for the potential short term -and riskless- profit. That's until a proposal is out and I suppose those won't go out unannounced. So we'll probably see an exodus sooner or later after a proposal is announced. 

No such thing as "riskless", my friend.

Good luck with the fundy thing of funds funding other fundy things that may make funds for the original funders.

LOL.

Well, as long as it is possible to withdraw the initial investment without losses, I think it's safe to call it riskless. That's what it is for the short-term, and that's why there's so much money in it. Don't get me wrong, I too think THE DAO is just too odd. I'm just trying to justify why so much money has been placed in it.