The DAO FAIL

[bones261]

I think DAO still has a good one or two pumps on it before it deflates like yet another alt. ETH probably has twice the pumps before it becomes irrelevant.

   No wonder none of the proposals for the DAO are anywhere near the 20% quorum needed to even count. Most are just checking out POLO & Bittrex, hoping for the next ETH/DAO pump so that they can unload their tokens on the next sucker. They don't want to use their tokens to vote on stupid proposals, which is what they were supposedly intended for. They want to see some whales pump up ETH to some god awful value, and hope the DAO leech tokens follow suit.
   Oh well, I'm probably being a hypocrite anyway, since I am doing the same thing.   However, I refuse to shill this shit, anymore, in a pathetic attempt to escape my poor judgement in this case.

You should get a medal for this post or some sort of award. People are not realizing that the dao was a big mistake and could never really work. I wonder where the next school of fish are going to come from to let the first school of fish out.

I'll bestow upon myself and accept this reward:

Screw off, ICO scam tokens.

https://www.youtube.com/watch?v=rGIY5Vyj4YM

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[Spoetnik]

Satoshi mined early ?

Does that in ANY way justify the concept of an ICO
or requiring your personal coding services be paid in the amount of $250,000.00 usd per year ?

LOL

What if he premined 2% for "purposes" ?
Then.. what is an ICO ?

It is a 100% premine now isn't it ?

careful you might get tripped up in your own logical fallacy here pretty quick guys.
And while you are writing your next retort to beak off at me i will be ?
Searching up your account history..
Seeing who screamed scam on Premined ANN coin topics (while publicly defending ICO's)  

PS:
250k ?

News Flash "Dev's" ..

YOU ARE NOT SATOSHI  

[Zer0Sum]

I think DAO still has a good one or two pumps on it before it deflates like yet another alt. ETH probably has twice the pumps before it becomes irrelevant.

   No wonder none of the proposals for the DAO are anywhere near the 20% quorum needed to even count. Most are just checking out POLO & Bittrex, hoping for the next ETH/DAO pump so that they can unload their tokens on the next sucker. They don't want to use their tokens to vote on stupid proposals, which is what they were supposedly intended for. They want to see some whales pump up ETH to some god awful value, and hope the DAO leech tokens follow suit.
   Oh well, I'm probably being a hypocrite anyway, since I am doing the same thing.   However, I refuse to shill this shit, anymore, in a pathetic attempt to escape my poor judgement in this case.

Well, the more one investigates the DAO the worse it gets...
No Proposal is coming close to 20% quorum because the whales are colluding and not voting.




Why would anyone invest millions $$$ of highly liquid ETH into an flaky, experimental venture fund...
Unless the whole thing was rigged and a guaranteed return.

So there you go...
The Top 9 accounts can create a 20% quorum... or any combination of the Top 50 accounts easily...
So it doesn't matter how "investors" vote because the insiders can strip the DAO of ETH at will.

Just pitch semi-plausible Proposals (a "good story" as they call it on Wall Street)...
And methodically siphon off all the money over a year or two... while delivering ongoing "promotion" and not much else.

[ICOcountdown.com]

I think DAO still has a good one or two pumps on it before it deflates like yet another alt. ETH probably has twice the pumps before it becomes irrelevant.

   No wonder none of the proposals for the DAO are anywhere near the 20% quorum needed to even count. Most are just checking out POLO & Bittrex, hoping for the next ETH/DAO pump so that they can unload their tokens on the next sucker. They don't want to use their tokens to vote on stupid proposals, which is what they were supposedly intended for. They want to see some whales pump up ETH to some god awful value, and hope the DAO leech tokens follow suit.
   Oh well, I'm probably being a hypocrite anyway, since I am doing the same thing.   However, I refuse to shill this shit, anymore, in a pathetic attempt to escape my poor judgement in this case.

Well, the more one investigates the DAO the worse it gets...
No Proposal is coming close to 20% quorum because the whales are colluding and not voting.




Why would anyone invest millions $$$ of highly liquid ETH into an flaky, experimental venture fund...
Unless the whole thing was rigged and a guaranteed return.

So there you go...
The Top 9 accounts can create a 20% quorum... or any combination of the Top 50 accounts easily...
So it doesn't matter how "investors" vote because the insiders can strip the DAO of ETH at will.

Just pitch semi-plausible Proposals (a "good story" as they call it on Wall Street)...
And methodically siphon off all the money over a year or two... while delivering ongoing "promotion" and not much else.

You can say the same exact thing about Bitcoin. Replace the words ETH and DAO with BTC and you will find the same similarity.

[bones261]

You can say the same exact thing about Bitcoin. Replace the words ETH and DAO with BTC and you will find the same similarity.

I'm absolutely fucking speechless at this retort. Roach or Spoetnik, care to comment on this?  

[ICOcountdown.com]

You can say the same exact thing about Bitcoin. Replace the words ETH and DAO with BTC and you will find the same similarity.

I'm absolutely fucking speechless at this retort. Roach or Spoetnik, care to comment on this?  

I don't understand why you are so perplexed the DAO is a new system like Bitcoin is.

[bones261]

You can say the same exact thing about Bitcoin. Replace the words ETH and DAO with BTC and you will find the same similarity.

I'm absolutely fucking speechless at this retort. Roach or Spoetnik, care to comment on this?  

I don't understand why you are so perplexed the DAO is a new system like Bitcoin is.

New system? The Dao is just a smart contract/ token barfed up from the Ethereum blockchain.

Just go here. Copy, paste, edit. You too could become the next millionaire.

[ICOcountdown.com]

You can say the same exact thing about Bitcoin. Replace the words ETH and DAO with BTC and you will find the same similarity.

I'm absolutely fucking speechless at this retort. Roach or Spoetnik, care to comment on this?  

I don't understand why you are so perplexed the DAO is a new system like Bitcoin is.

New system? The Dao is just a smart contract/ token barfed up from the Ethereum blockchain.

Just go here. Copy, paste, edit. You too could become the next millionaire.

Again you speak about similarities between Bitcoin-  Bitcoin can be cloned this is why we have the alt industry. What I'm saying is it is a different idea, it is a special idea.

[bones261]

You can say the same exact thing about Bitcoin. Replace the words ETH and DAO with BTC and you will find the same similarity.

I'm absolutely fucking speechless at this retort. Roach or Spoetnik, care to comment on this?  

I don't understand why you are so perplexed the DAO is a new system like Bitcoin is.

New system? The Dao is just a smart contract/ token barfed up from the Ethereum blockchain.

Just go here. Copy, paste, edit. You too could become the next millionaire.

Again you speak about similarities between Bitcoin-  Bitcoin can be cloned this is why we have the alt industry. What I'm saying is it is a different idea, it is a special idea.

An altcoin industry? I could have my dog(e) take a daily dump and call it an industry too. I could then try to convince people that if they can give me enough $$$ upfront, that I can improve upon it and give it all kinds of new and innovative features. Perhaps promise that it will be the next cure-all for whatever physical, emotional or financial turmoil they are facing. Perhaps I can have the logo plastered on some race car to make it seem more legit.

[NattyLiteCoin]

The BTC "premine" was a proof of concept that a novel PoW technology actually worked before being deployed. It was a revolution and I'm not sure most of the posters here get that. Some of you make my eyes bleed.

[ICOcountdown.com]

You can say the same exact thing about Bitcoin. Replace the words ETH and DAO with BTC and you will find the same similarity.

I'm absolutely fucking speechless at this retort. Roach or Spoetnik, care to comment on this?  

I don't understand why you are so perplexed the DAO is a new system like Bitcoin is.

New system? The Dao is just a smart contract/ token barfed up from the Ethereum blockchain.

Just go here. Copy, paste, edit. You too could become the next millionaire.

Again you speak about similarities between Bitcoin-  Bitcoin can be cloned this is why we have the alt industry. What I'm saying is it is a different idea, it is a special idea.

An altcoin industry? I could have my dog(e) take a daily dump and call it an industry too. I could then try to convince people that if they can give me enough $$$ upfront, that I can improve upon it and give it all kinds of new and innovative features. Perhaps promise that it will be the next cure-all for whatever physical, emotional or financial turmoil they are facing. Perhaps I can have the logo plastered on some race car to make it seem more legit.

I don't really understand this arguement, technological development is happening here.

[bones261]

The BTC "premine" was a proof of concept that a novel PoW technology actually worked before being deployed. It was a revolution and I'm not sure most of the posters here get that. Some of you make my eyes bleed.

I totally agree with you. Plus the vast majority of the "premine" has sat idle for years, even after Satoshi passed the torch. The main developer of ETH has already admitted that he dumped much of his portion.

I don't really understand this arguement, technological development is happening here.

Pac-man, which came out in 1980, demonstrated more innovation than the vast majority of what I see going on in the altcoin world these days. Hell, Ms Pac-man was more innovative than most of this nonsense.
I'm no young whippersnapper by any means. Don't try to sell me on what technological innovation is. I've seen some awesome shit come out since I was born in 1968. And if you think this altcoin "innovation" would impress someone like me who has been around a while, it's just not going to fly.

[gogodr]

Btc is moving and dao is doing nothing. I dont understand why people even invested in this trash.

[bones261]

Btc is moving and dao is doing nothing. I dont understand why people even invested in this trash.

It was a feedback loop. ETH was being pumped, so people thought they would give DAO a shot. As people were obtaining ETH, so they could get DAO, ETH soared even more.  Many, including me, assumed this would be just like most of the ICO scams around here. There would be some kind of pump once it hit the exchange, then one could dispose of the tokens and move on to the next scheme. The problem was, the pump never came. Why? Because the DAO was probably created to cause a pump and dump for ETH. The intended pump and dump already happened by the time the DAO creation period was over, and it was launched on the exchanges. Now, you see all these people claiming this is a "long term" investment. (This rhetoric was actually being touted during the ICO creation period as well.) If I want to make a long term investment, I'll contribute more to my 401K at work. At least any risk that I am taking with that is mitigated by my employer's contribution.

[iamnotback]

Apologies that the following is not very humble. Some frankness is required so Spoetnik is aware of the reality.

You need to stop equating those proven s/w developers with these inexperienced kids and hucksters in the altcoin arena.

If you don't respect the worth of the serious professionals, then don't expect them to work for your ecosystem.

Please try to wait and judge based on the outcome, instead of lumping me together with Vitalik, Tual, etc..

PS:
250k ?

News Flash "Dev's" ..

I was generating up to $30k per month for a one-man company coolpage.com where I was the sole programmer. I did $350+K in 2001. Inflation-adjust that!

In 1995, I had an $80k salary and $1 million stock options offer (to vest over 2 years) working at Fractal Design Corp on what is now Corel Painter, and I left the company (forsaking the stock options offer) to go walk barefoot in the jungle in the Philippines. Inflation-adjust that!

In 1989 or thereabouts (age 24), my Neocept WordUp was grossing > $100k per year for a 2-man company. Inflation-adjust that!

Sorry you are wrong. I am worth much more $250k annually if I am healthy. My problem had/has been debilitating Chronic Fatigue Syndrome (CFS) and other manifestations of a chronic autoimmune illness since 2012.

YOU ARE NOT SATOSHI  

Before the end of this year, I intend to prove I am more capable than Satoshi.

Let's see what happens. It virtually all depends on my health continuing to improve. Because I can't code with CFS.

[iamnotback]

I don't really understand this arguement, technological development is happening here.

Pac-man, which came out in 1980, demonstrated more innovation than the vast majority of what I see going on in the altcoin world these days. Hell, Ms Pac-man was more innovative than most of this nonsense.
I'm no young whippersnapper by any means. Don't try to sell me on what technological innovation is. I've seen some awesome shit come out since I was born in 1968. And if you think this altcoin "innovation" would impress someone like me who has been around a while, it's just not going to fly.

The technological development that is occurring is half-assed, pie-in-the-sky bullshit (perhaps not IOHK's work) that any high IQ senior professional software developer would know isn't going to work and thus wouldn't work on. Thus only the hucksters (and dreamers? do Vitalik and Tual really believe in their fantasies?) are willing to promulgate the delusions of the altcoins. But the market wants it. Who am I to tell the market what it shouldn't buy.

One can argue that those guys are brilliant and efficient marketers. Reality sucks. But reality is reality. For me, the key is how to employ their methods, but accomplish something truly great and revolutionary that benefits us not only in terms of speculation but also in terms of real advancement of CC so that we have a better world to live in. That is my goal. I will not inhibit myself from using efficient marketing in order to reach my goal. This is altcoinUK's myopia. He doesn't understand that words are useless and we need to get what we need by any means possible.

Even Blockstream is now taking Bitcoin into the half-assed Rube Goldberg direction (SegWit, Sidechains, and LN are all flawed if decentralization is required), but they really don't have much leeway because of Satoshi's Model T design.

But there are some ideas in each development that are perhaps worthy. I have borrowed for example some concepts from Iota, even though I have explained that (afaics) the DAG can't be a decentralized consensus algorithm. So you can't say that it has all been worthless, neither from a marketing development nor technological concepts development perspective.

Nature meanders on the path of annealing optimum fittness. The noise is necessary in order to not get stuck in a local minima. Study simulated annealing algorithms over N dimensional spaces.

I am not going to criticize the projects of others. I think the speculators have to wise up or lose their lunch money. That is life. After all, even you are playing the speculation musical chairs game. The market is what it is. If I deny reality, I am diminishing my opportunities to succeed. The BS about "if I can't do it the 'right way' then I don't want to do it", doesn't make sense to me. I played competitive team sports. You do what you need to do to win, within the confines of the rules. There are no rules in this market. For me, losing is failure, even losing by refusing to win by any means. Thus for me, altcoinUK's dogma is failure. He is not a Michael Jordan.

P.S. I am 3 years older than you and I began coding at age 13. Perhaps if you are a coder, you can relate how difficult it is to code at your age as you did at a younger age, because energy levels, interests, and focus changes. But I am pretty much hyper motivated by this time with all the water under the bridge the past 3 years. And besides, I am an extremely type A, overachiever any way. And even for example, still striving to be competitive in sports with guys 3 decades younger. But still, it isn't easy trying to recover from an "incurable" chronic illness, trying to work 14 hours a day coding, and trying to train hard. I am having difficulty fitting it all in and dealing with the fact that my body gets extremely exhausted and needs sleep.

This is not easy Spoetnik! You try to do it!

[bones261]

P.S. I am 3 years older than you and I began coding at age 13. Perhaps if you are a coder, you can relate how difficult it is to code at your age as you did at a younger age, because energy levels, interests, and focus changes. But I am pretty much hyper motivated by this time with all the water under the bridge the past 3 years. And besides, I am an extremely type A, overachiever any way. And even for example, still striving to be competitive in sports with guys 3 decades younger. But still, it isn't easy trying to recover from an "incurable" chronic illness, trying to work 14 hours a day coding, and trying to train hard. I am having difficulty fitting it all in and dealing with the fact that my body gets extremely exhausted and needs sleep.

   I wish that I could help you bolster your point, but I can't code for shit. Hats off to you. I couldn't program "Hello World" from scratch, if my life depended on it. However, I do now how to copy and paste and I took the liberty to copy and paste the DAO code into notepad. I find a little over 1000 lines of code, much of it comments.  I guess is this is good, since it helps a total layman such as myself get an inkling what is going on. However, even if this code was original, which I doubt; how long would it take someone proficient in coding javascript to come up with this? I highly doubt it took 150 million USD worth of effort.
   What scares me more is someone such as myself, with absolutely no programming skills, can just copy and paste this DAO code, make a few modifications, and then unleash it on the community. Maybe it wouldn't raise millions, but getting $25.00 out of it would far surpass the true value of the work involved.
   I certainly hope you get to feeling better and can bring your aspirations to the altcoin world and dazzle us. It doesn't take long for many in this scene to become jaded.

[Spoetnik]

@ICOcountdown.com
You could.. but people like me will laugh at you  
And unlike DAO Bitcoin is a currency that is actually used as such.

I have no idea why this DAO ICO "Scheme" is even posted here.. it is NOT an Alternate Currency.
So why is it posted here and all over the Crypto coin scene ?
Are you all using it for some purpose or another ?
No ?
Ok what then ?

cough cough profits ?  

..that is it's use.

This shit playing out is interesting and i am amused it's back firing
on the brain dead cocky dipshit legions of lippy tards who made it & backed it.
..you know the ones who are silent in hiding right now avoiding defending their "scheme"

What does the 'D' in DAO stand for ?

Decentralized Autonomous Organization

Decentralized ?
That is not true. and how do you have an Organization that is Decentralized ?
It's a contradiction right in the name of it LOL

Autonomous ?
Except for the part where it all hinges entirely on proposals by humans ROFL

You are all quick to spout off catch phrases & terminology at the drop of a hat..
Block chain this "decentralized" that..
But i don't think the creators or backers of these "Schemes" gave much of it any thought really.

PS:
I don't enter coding pissing contests.
My work + name is word renown in various circles and many people on Earth have had my code on their machines and i also have my name listed as a credit for code work in some well known projects and.. yes i too have been coding for a billion years.. starting with basic back in the 80's
so..
Blow me assholes.

PPS:
By the way smart fuckers why has the ETHEREUM ICO (non mined coin)
..added "mining" ?
Answers please 

[duts_bg]

It is quite normal for a child to stagger and fall, or to try to go with both feet simultaneously, when made its first steps. Ultimately, all starts  to walk. The alternative to DAO is known: Federal Reserve, the IMF, the World Bank, the group of Bilderberg. The choice is ours.
 

[Minecache]

3 pages in its clear that Spoetnik has another successful thread accomplished spreading nothing but bitter lies and FUD.

Admit you missed the ETH train and move on.

Nothing to see here. Thread closed.