DAO raised ~$150M!! WTF is wrong with you people?

[Bit_Happy]

Hi, despite the inflammatory title, I would honestly like to hear the answer to these questions:

1) The lead "coder" was very young and inexperienced, should not that have shaved ~$140M off the max they could raise?
2) Why did this happen (yet again) and how can similar things be avoided, without interfering with the benefits that can come from a free market environment?

[Spoetnik]

Notice the silence ?

These guys "investing" are literally stupid.. by definition.

And.. they are greedy.

They know it and won't admit it either.
What you asked was of course "FUD" 

This is Crypto we don't have time for intelligence there is profits to be had !

On what ?

Who cares.. TAKE.. MY.. MONEY.. NOW !!!!!!!!!!

[Bit_Happy]

Notice the silence ?
Yes.
Thanks for the input, and still looking for additional honest replies. 

[iamnotback]

Hi, despite the inflammatory title, I would honestly like to hear the answer to these questions:

1) The lead "coder" was very young and inexperienced, should not that have shaved ~$140M off the max they could raise?
2) Why did this happen (yet again) and how can similar things be avoided, without interfering with the benefits that can come from a free market environment?

No good alternative to ETH yet meeting the desires of the dreamers to disrupt corporatism. Bitcoin won't do this.

[ttookk]

You could create a cap of money that can be invested, but this cap could be filled pretty soon by very few people holding a lot of tokens. But, what you could do is create a payback function. What I mean is, let's say you have a cap of 2000 BTC, but you let investors put in as much as they want. They put in 20,000 BTC. At the end of the ICO, you pay them back 18,000 BTC and distribute the tokens accordingly.

This way, you are not suddenly sitting on a giant honeypod that attracts all kind of flies…

[Bit_Happy]

To quickly raise so much value in a short time (providing only a nice web site with a few graphics) is simply mind-blowing?
Anyone ever hear of stock generation?  (https://www.google.com/search?q=stock+generation&ie=utf-8&oe=utf-8)
Please, learn from history before donating your BTC.

[Indamuck]

In my view it is not really true that the community invested $150-mil. You should understand that the DAO participants by and large all made much much smaller investments in Ethereum a couple of years ago. Those tiny investments have ballooned into some silly digits. So in many ways that $150-mil you talk about is 'fun money,' or money that fell from a tree and available to parlay into the next big adventure. Go Big or Go Broke as they say ...

TL;DR: It's not real until one sells and buys something real. 'Ether' is not real value ... it is barely air, until it is sold.

[Blazed]

With ETH projects, you can toss lots at them for a simple reason. If the project does not do well they just fork and get a do-over.

[Arrakeen]

With ETH projects, you can toss lots at them for a simple reason. If the project does not do well they just fork and get a do-over.

There are so many variables involved as to why that statement is illogical :/  You're saying funds invested will always yield a profit one day?

[shyliar]

With ETH projects, you can toss lots at them for a simple reason. If the project does not do well they just fork and get a do-over.

There are so many variables involved as to why that statement is illogical :/  You're saying funds invested will always yield a profit one day?

I think he just forgot to put the /s at the end of the statement; although, I think the sarcasm was self evident and as such no additional indication was required.

[Bit_Happy]

With ETH projects, you can toss lots at them for a simple reason. If the project does not do well they just fork and get a do-over.

There are so many variables involved as to why that statement is illogical :/  You're saying funds invested will always yield a profit one day?

You're saying funds invested will always yield a profit one day?
Yes! 
Learn from history:
The prices are certain to always go higher!
https://www.google.com/search?q=stock+generation&ie=utf-8&oe=utf-8

[Spoetnik]

To quickly raise so much value in a short time (providing only a nice web site with a few graphics) is simply mind-blowing?
Anyone ever hear of stock generation?  (https://www.google.com/search?q=stock+generation&ie=utf-8&oe=utf-8)
Please, learn from history before donating your BTC.

BlockNET pulled in 1 million in BTC while back with it's ICO
and everyone was quick to suck their cocks dry..
They posted a jpeg ANN topic and cashed in / out.

Later some guy posted various pictures of "The Team" at school having a water balloon fight
and eating in the a cafeteria..
When i asked why the dev needed so much he told me to "Ensure it's a success"  
He also had said it was 75% coded before he posted his ANN.jpeg
So in essence you were all giving this fucking brat a Million Dollars $
to finish the other 25% of coding with no time frame.
A year later i checked in on him and he had failed to pay hosting costs..
aww poor baby.
A million dollars just don't go as far as it use to
How do i know this ?
I read his own supporters grilling him because it had been a year+ now
and all he had ever done is post.. "I'm working on it" occasionally.

ALL OF YOU OUT THERE SUPPORTED BLOCKNET
ALL the exchanges etc the staff here deleting my comments and all the greedy retard brats crying Troll / FUD
Every damn step of the way.. crying FUD for bucks $ (like every other fucking shitty ass ICO)
..like the DAO shit too !

PS:
I was right Investards.

AS ALWAYS !

And it's just more of the same old same old around here.. par for the course  
Just another gay ass fucking ICO Block-Chain Scheme coin token thingymajiggerwhatchyamacallit
..for profit.

PPS:
All of you failed miserably at answering the OP's question or even staying on topic.
@Shelby you said you were leaving and made a big stink about it right ?
Then why are you hanging around to spend all your time bad mouthing Bitcoin ?
..there is a time & place for that.
And it is not a topic where the OP asked why you all invested so much in the DAO "scheme"
The assertion Bitcoin has flaws etc has absolutely nothing what so ever to do with the OP's topic.

Ya'll want to come off smart around here ?
Start acting like it.

[Bit_Happy]

^^^
I must admit I agree with the above post:
WTF is wrong with you people?   

[darkagentx]

Its too bad a lot of people lost their money on this ICO, because of 1 bug that got away and stabbed DAO at the back draining their ETH, precious time and money , confidence and morale.

[Bit_Happy]

Its too bad a lot of people lost their money on this ICO, because of 1 bug that got away and stabbed DAO at the back draining their ETH, precious time and money , confidence and morale.

Good point, thanks.
I should show more compassion for those who lost money:

<Back on topic>

1) The lead "coder" was very young and inexperienced, should not that have shaved ~$140M off the max they could raise?
2) Why did this happen (yet again) and how can similar things be avoided, without interfering with the benefits that can come from a free market environment?

[darkagentx]

Its too bad a lot of people lost their money on this ICO, because of 1 bug that got away and stabbed DAO at the back draining their ETH, precious time and money , confidence and morale.

Good point, thanks.
I should show more compassion for those who lost money:

<Back on topic>

1) The lead "coder" was very young and inexperienced, should not that have shaved ~$140M off the max they could raise?
2) Why did this happen (yet again) and how can similar things be avoided, without interfering with the benefits that can come from a free market environment?

The issue is even though the lead "coder" is very young. Who were the people who audited the code and gave a passing mark to implement it in the first place?
The support of some well known people from a previous ICO should also bear some responsibility on how this ICO were able to pushed through.

[Spoetnik]

I am disgusted how there is no 1 answer by anyone here.
The crickets are deafening.

How did it get that high ?

NOBODY is talking.

Where are all these Noob accounts that pop up lecturing us all the time ?
They are quick to show up and tell us all to buy DAO or ETH.
Then silent when it comes crashing down as veteran users predicted.

I'd like to see what all these guys say who bought into DAO.
Read the OP's question then tell us guys..

[RoseMann]

Its too bad a lot of people lost their money on this ICO, because of 1 bug that got away and stabbed DAO at the back draining their ETH, precious time and money , confidence and morale.

If the funds stolen by the hack is frozen and return to the DAO investors, they will lose less. But the value of Etheruem will be reduced in the short term at least.

[GreenBits]

Good point, thanks.
I should show more compassion for those who lost money:

Nah, they had this coming. If you did the diligence on the DAO in any meaningful way, there was no way you could not see the myriad people screaming "be careful"

Which leads to the answer for the question the thread's title presents. This is because of uneducated investors, children to speak plainly, being allowed to throw money at something they think will "go to the moon". The fact that we have so much leet/nerdspeak in our crypto terminology should speak to the perspective and maturity of the average investor in this space this is why the SEC exists, to protect investors from themselves as much as from the " wolves abroad".

[K210]

Eth investers are noobs and believe everything that snake oil charmer tells them. Eth is run more like a corrupt business than a cryptocurrency, imagine if satoshi premined 50% of all bitcoins. Nobody (intelligent) would touch that shit!