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Topic: [ANN][slock.it][Company] IoT meets blockchain - A TheDAO proposal - page 32. (Read 66180 times)

sr. member
Activity: 260
Merit: 250
At this rate for 2 or 3 days will be the end of the presale  Cheesy
170.66 M
DAO TOKENS CREATED

What you talking about? I tought there is no amount limit

I think it will be close to 500m, but that will deflate over time as many DAO holders will burn their tokens back to ETH so we'll never know how many DAOs will ever be, it's all speculation. It could go back to zero in theory right?

So you will be basically able to go back to ETH anytime you want, right?

Also if we decide to go back to ETH, would the price be 100 DAOs for 1 ETH or the price would be whatever current price on the market is?

Thanks for shading some light on these unknowns guys!
sr. member
Activity: 351
Merit: 250
Hello guys, I would like to share  with you some of my thoughts and questions about DAO.

1) If I get it right, we will be the administrators of our ETHs. Say we vote to invest an amount of them into slock.it, what happens if slock.it eventually fails?
I mean, of course we lose the invested money but in the same time the total stack of ETHs we manage will be significantly reduced.  If the project succeeds I understand that we us individuals will get some reward but what about the total stack? Is there a way for more funds to be added?

2) What happens in the case of whales? Can they manipulate the voting so that they can have the money invested in their own businesses?

3) Also if the above is correct, the whole structure of the project leads to a fixed value for each token directly dependent to the price of the ETH. The total value of the generated tokens will always be equal or less than the total value of the initially concentrated ETHs. Unless there is indeed a way for the initial stack to be increased.

Sorry if I get something terribly wrong. My main question is no.1 .I am waiting for your explanations.
legendary
Activity: 1568
Merit: 1000
At this rate for 2 or 3 days will be the end of the presale  Cheesy
170.66 M
DAO TOKENS CREATED

What you talking about? I tought there is no amount limit

I think it will be close to 500m, but that will deflate over time as many DAO holders will burn their tokens back to ETH so we'll never know how many DAOs will ever be, it's all speculation. It could go back to zero in theory right?
full member
Activity: 217
Merit: 100
At this rate for 2 or 3 days will be the end of the presale  Cheesy
170.66 M
DAO TOKENS CREATED

What you talking about? I tought there is no amount limit
hero member
Activity: 824
Merit: 512
At this rate for 2 or 3 days will be the end of the presale  Cheesy
170.66 M
DAO TOKENS CREATED
legendary
Activity: 1582
Merit: 1001
www.neutroncoin.com
I am looking to invest into DAO and I risk to ask a really dumb question, but I will ask it anyways.

I see that in the description of the DAO, it stands that people that are not OK with the propositions and voting can decide to ask for their Ethers back. Does this mean we would get the same 1 ETH for 100 DAOs like during the ICO?

Or have I missed something?
u not missed something

u will get 100 DAO for 1ETH during 14 days phase 1
next phase price up 1.5 ETH for 100 DAO

When is the 14 days phase 1 is going to be over?
hero member
Activity: 1080
Merit: 500
I am looking to invest into DAO and I risk to ask a really dumb question, but I will ask it anyways.

I see that in the description of the DAO, it stands that people that are not OK with the propositions and voting can decide to ask for their Ethers back. Does this mean we would get the same 1 ETH for 100 DAOs like during the ICO?

Or have I missed something?
u not missed something

u will get 100 DAO for 1ETH during 14 days phase 1
next phase price up 1.5 ETH for 100 DAO
sr. member
Activity: 260
Merit: 250
I am looking to invest into DAO and I risk to ask a really dumb question, but I will ask it anyways.

I see that in the description of the DAO, it stands that people that are not OK with the propositions and voting can decide to ask for their Ethers back. Does this mean we would get the same 1 ETH for 100 DAOs like during the ICO?

Or have I missed something?
hero member
Activity: 706
Merit: 500
https://twitter.com/CryptoTrout
How many dogecoins for a DAO?
sr. member
Activity: 434
Merit: 250
but it is possible to partecipate to ipo just by ETH???

also BTC and some fiat currencies. go to Gatecoin or Shapeshift.
legendary
Activity: 1932
Merit: 1042
https://locktrip.com/?refId=40964
but it is possible to partecipate to ipo just by ETH???
legendary
Activity: 1453
Merit: 1030
I have a question though...

If the point is to 'get rid of the middleman' in the services such as AirBnb, etc. then isn't Slock a new middleman?  It's just a decentralized one, but at the end of the day, it's still a middle entity.  

The only advantage to this is if we lose trust in centralized entities.  But there's still going to be a fee for transactions, otherwise no one would bother investing into these slocks.  My point is, for many of the applications like renting and selling, we already have a lot of trust in the centralized providers.  The place where people lack trust is in the banks and financial institutions, but even there, most people who have the problem are conspiracy theorists.  I keep most of my money in the bank.  It's bitcoin and cryptocurrency that are in fact much more dangerous.  If you don't store it properly you can get hacked, stolen, etc.  But with a bank, that's all taken care of.  I live in the US, so unless you're a loony nut who thinks the world is going to collapse, your money is fairly safe in a bank, under $250k.  

So really why do we want to get rid of AirBnb?  Is a decentralized system really better?  And will it actually cost less?

Nonetheless, I will be investing in this for short term profit.  I'm sure it will moon, but most people don't really care about the real world application.

I think of it this way. When Email appeared people probably were asking the same question: Why do we need this, we already have a letter box and postman-everything works just fine...I guess it's all about speed and cost  of contract creation and execution+security and automatic disputes settlements etc.Accountants ,lawyers and bankers would become obsolete in a such system .Although it will take many years if at all because of such system complexity to get there but I would love it Grin  

And on the subject of keeping your assets in a Bank, well simply  you don't own them because they are not in your custody and you rely on trust and promises that you will be covered under £250k or any other amount  they promise. However in a real live promises can and are broken... and when that happens people want to turn a clock back and take some actions unfortunately it is not possible. And to find out  how banks "take care"  of your money you just need too look at the history-they do care until they have "problems" and when that happens-you are the one who is paying for it .By the way banks also are hacked and personal information and money are stolen on everyday basis and on the massive scale. Just guess what would happen in a real SHTF scenario...  
So there is a lot of room for system improvement and block chain technologies doing exactly this.


This answer doesn't address coinbiz' issues. Why would we need a decentralised middleman? In the end, we have a middleman again. By the way, with a decentralised one, there's no support desk whatsoever. And there are plenty of things that can go wrong with 'smart' contracts.

As for 'owning' stuff, that's all just custody until we are gone. And keeping funds solely decentralised raises the same issue as above. Who is going to mediate disputes? No sir, everything is not all that utopic, it seems.

Oh, by the way coinbiz, this is from the DAO participation terms.
..."represent and warrant that you are not exchanging cryptocurrencies for The DAO tokens for the purpose of speculative investment;"

Guess you can't join. Wink
full member
Activity: 122
Merit: 100
Didnt like the fact you cant buy it with BTC, what's the deal here?
Why do I need to download an eth wallet..?
seems like promotion to eth on the way, which is pumping the price ofc..
the foundation is starting to resemble apple :|

also bittrex dao wallet is not working atm


Sorry, had an issue with address generation... fixed now.

Thanks,
richie@bittrex

Thanks richie, now I can participate.
 Grin
hero member
Activity: 937
Merit: 1000
Didnt like the fact you cant buy it with BTC, what's the deal here?
Why do I need to download an eth wallet..?
seems like promotion to eth on the way, which is pumping the price ofc..
the foundation is starting to resemble apple :|

also bittrex dao wallet is not working atm


Sorry, had an issue with address generation... fixed now.

Thanks,
richie@bittrex
member
Activity: 78
Merit: 10
Didnt like the fact you cant buy it with BTC, what's the deal here?
Why do I need to download an eth wallet..?
seems like promotion to eth on the way, which is pumping the price ofc..
the foundation is starting to resemble apple :|

also bittrex dao wallet is not working atm



Start the GET DAO TOKENS wizard, and then you can choose between:

Step 1 : Choose your Currency
Select the currency you want to use to create DAO tokens. We strongly recommend the use of a direct transfer of ETH.
In doubt, please follow the Tutorial Video. Note that support is exclusively provided by the community on our support forum.

* ETH (Recommended)
   Select to use ETH that you already own.
* BTC (Uses Gatecoin)
   Select to use BTC via Gatecoin directly on this website.
* BTC or other digital currencies (Uses ShapeShift)
   Select to use any digital currencies supported by ShapeShift.
* USD, EUR, CHF, HKD or Exchanges (Uses Bity, Bittrex or Gatecoin)
   Select to use national currencies, or if you would prefer to hold your DAO tokens on an exchange.


watching
legendary
Activity: 1568
Merit: 1000
For anyone looking for the same answer as me regarding Jaxx wallet and DAO tokens here's the link to fix it, I'm still trying to sync my Mist wallet but I hope this works:

https://forum.daohub.org/t/how-to-transfer-jaxx-accounts-to-mist/765
full member
Activity: 196
Merit: 100
Pretty impressive numbers so far.

And it's only the beginning..
it will be a huge.
newbie
Activity: 24
Merit: 0
Pretty impressive numbers so far.

And it's only the beginning..
legendary
Activity: 1382
Merit: 1002
Didnt like the fact you cant buy it with BTC, what's the deal here?
Why do I need to download an eth wallet..?
seems like promotion to eth on the way, which is pumping the price ofc..
the foundation is starting to resemble apple :|

also bittrex dao wallet is not working atm



Start the GET DAO TOKENS wizard, and then you can choose between:

Step 1 : Choose your Currency
Select the currency you want to use to create DAO tokens. We strongly recommend the use of a direct transfer of ETH.
In doubt, please follow the Tutorial Video. Note that support is exclusively provided by the community on our support forum.

* ETH (Recommended)
   Select to use ETH that you already own.
* BTC (Uses Gatecoin)
   Select to use BTC via Gatecoin directly on this website.
* BTC or other digital currencies (Uses ShapeShift)
   Select to use any digital currencies supported by ShapeShift.
* USD, EUR, CHF, HKD or Exchanges (Uses Bity, Bittrex or Gatecoin)
   Select to use national currencies, or if you would prefer to hold your DAO tokens on an exchange.
full member
Activity: 122
Merit: 100
Didnt like the fact you cant buy it with BTC, what's the deal here?
Why do I need to download an eth wallet..?
seems like promotion to eth on the way, which is pumping the price ofc..
the foundation is starting to resemble apple :|

also bittrex dao wallet is not working atm

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